The United Kingdom will return £4.2m (N2.2bn) seized from the convicted ex-governor of Delta State James Ibori and his associates, attorney-general of the federation Abubakar Malami has said.
Malami announced this while delivering his speech on Tuesday at the signing ceremony of the memorandum of understanding between Nigeria and the UK government over the recovered funds.
Ibori was convicted by a UK court in 2012 and was sentenced to 13 years in jail after admitting fraud of nearly £50m (N26.3bn), even though prosecutors say the actual amount stolen was about £250m (N131.7bn).
“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,” said Mr Malami.
“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.”
Malami, who is also the minister of justice, said in consonance with 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 integrity of the process.
According to Malami, a reputable civil society organisation has been engaged to monitor and supervise the expenditure of the recovered funds on the execution of the projects.
Ibori was released from prison in 2016 after serving a fraction of his term.
