Return of The Loot- UK to Return £4.2 million Ibori Loot

FILE PHOTO: James Ibori, former governor of Nigeria's Delta State, speaks after a court hearing outside the Royal Courts of Justice in London, Britain, January 31, 2017. REUTERS/Estelle Shirbon/File Photo - RC160CF2F8C0
FILE PHOTO: James Ibori, former governor of Nigeria’s Delta State, speaks after a court hearing outside the Royal Courts of Justice in London, Britain, January 31, 2017. REUTERS/Estelle Shirbon/File Photo – RC160CF2F8C0

The government of the United Kingdom has signed a Memorandum of Understanding (MoU) to return £4.2 million looted assets by former Delta state governor, James Ibori.

This was revealed in a a statement by the British High Commissioner to Nigeria, Catriona Laing on Tuesday 9th March in Abuja. Ibori served as Delta state governor from 1999 – 2007 and was later convicted and sentenced to 13 years imprisonment on several counts of money laundry and fraud. After 4 years, he was released from prison in 2016 via a court order.

Laing who continued in her announcement, issued a stern warning to people who plan to launder money from Nigeria to the UK, stating that it has raised tension between the two territories. She further declared that the UK will no longer be a destination for perpetrators of such corrupt practices.

This is good news for Nigeria, especially in a time when the country is just exiting recession. However, we do hope that the money is effectively utilized, with every penny accounted for.  

More to come…

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