Following an agreement between Nigeria and the UK authorities for the recovery of £4.2million stolen by the convicted former Delta governor James Ibori, the Federal Government says over £100 million (N527billion) looted by the ex-governor and his associates is still being expected.
Attorney-general of the federation Abubakar Malami said this on Channels Television’s Politics Today on Tuesday.
He said, “As it is we have succeeded in recovering £4.2million from the UK. We are still pursuing other assets even as it relates to the Ibori assets.
“The quantum of the amount involved was within the region of over £100million (N2.2billion) and it is out of it that we have succeeded in recovering a fraction of £4.2m and we are still pursuing an additional sum within the region of £100million (N527billion) and that will be a function of conviction and subsequent recovery process.”
Malami said the money would not be handed over to the Delta State Government, adding that the crime that led to the diversion of the funds was a federal one.
He further argued that one of the conditions for the UK repatriating the Ibori loot was that the money must be tied to certain federal projects which include the Lagos-Ibadan Expressway, the Abuja-Kano rail and the Second Niger Bridge and a memorandum of understanding had been signed between both parties.
Malami, who is also the minister of justice, said about $100million traced to the late head of state Gen. Sani Abacha was also being expected.
Meanwhile, rights lawyer Femi Falana said section 162 of the constitution does not authorise the Federal Government to claim ownership of such looted funds.
