This was disclosed by the Attorney-General of the Federation, Abubakar Malami, on Tuesday during the signing ceremony of the Memorandum of Understanding between Nigeria and the government of the UK, according to Bashir Ahmad, Personal Assistant to President Muhammadu Buhari on new media.
He said, “I wish to remark that today’s ceremony and the recoveries attached thereto has again underscored the fact that international cooperation and mutual trust can yield great benefits for the citizenry in developing countries who are the direct victims of acts of corruption.
“Hence, the governments of Nigeria and the United Kingdom have concluded negotiations for the return of £4.2m to Nigeria pursuant to the Memorandum of Understanding earlier executed by the two governments in 2016.
“It is to be recalled that the Nigerian government had all along provided the required mutual assistance and backup to the British authorities while the prosecution of James Ibori lasted in London and today, we are rightfully taking benefit of that cooperation.”
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“… that the instant repatriated funds should be deployed towards the completion of the following legacy #PIDFund projects: the Second Niger Bridge, Abuja – Kano expressway and the Lagos – Ibadan expressway under the coordination of @nsia_nigeria…” #IboriLoot
— Government of Nigeria (@NigeriaGov) March 9, 2021
The Minister of Justice is optimistic that both the Nigerian and British governments will remain committed to combating corruption and illicit financial flows and ensuring that looters do not find comfort or save haven their respective territories.
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The United Kingdom has committed to returning looted assets worth £4.2 million linked to James Ibori, former governor of Delta state, Catriona Laing, British High Commissioner to Nigeria, signed a memorandum to that effect with Justice Minister, Abubakar Malami, today in Abuja.
— Bashir Ahmad (@BashirAhmaad) March 9, 2021
What you should know
With the existing framework in the management of previous recoveries, the Federal Executive Council had directed that the instant repatriated funds should be deployed towards the completion of the following legacy projects: the Second Niger Bridge, Abuja – Kano expressway and the Lagos – Ibadan expressway under the coordination of the Nigeria Social Investment Authority to ensure the integrity of the process.