Nigeria is set to receive the sum of 4.2 million pounds (about N2billion) from the British Government as part proceeds of the slush funds stashed away by former Governor of Delta State, Mr. James Ibori.
This follows the signing of a Memorandum of Understanding (MoU) on Tuesday in Abuja by the British High Commissioner to Nigeria, Catriona Laing, which guarantees that some of the nation’s loot in funds and assets by former governors will be repatriated to the country.
At the signing of the MoU at the Ministry of Justice in Abuja, Laing said that the money due to be returned to Nigeria was recovered from friends and family of Ibori.
Laing warned that the UK will no longer serve as destination for Nigerian loot just as she condemned the practice that allows politicians or government officials from Nigeria to siphon money from the country’s coffers only to stash such loot in the UK and in banks across the developed world.
Speaking at the ceremony, the Attorney General and Minister of Justice, Abubakar Malami said the recovery of the stolen funds is in keeping with the President Muhammadu Buhari Administration’s resolve to stamp out endemic corruption from the system.
He disclosed that the money, which is expected to be returned to the country in two weeks according to the MoU, will be utilized for the construction of the second Niger Bridge, Abuja-Kano road and Lagos-Ibadan expressway.
It would be recalled that Ibori was sentenced to 13 years in prison after pleading guilty to 10 counts of fraud and money-laundering at the Southwark Crown Court, London in 2012.