Ibori Loot: Bank paper works delaying repatriation of £4.2m Loot— Malami


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The federal government through the attorney-general of the federation (AGF), Abubakar Malami has explained why the recovered loot from James Ibori, former governor of Delta, is yet to be returned to Nigeria.

The explanation came in a statement signed by Umar Gwandu, his spokesman, on Monday, Malami said the documentation process in foreign banks is taking longer than anticipated.

“Documentations with the banks in different countries often take longer than anticipated. We anticipated two weeks but we are not in control of the banks,” the AGF said.

He said the federal government “is in touch with the government of the United Kingdom on the matter”.

“There is neither complacency nor any delay as efforts are being made to ensure successful transfer of the looted funds,” the statement read.

“To this end, Malami said any moment from now, Nigeria expects the return of £4.2m seized from the associates of convicted former Governor of Delta State, James Ibori.”

It would be recalled that on March 9 , the UK had committed to returning the £4.2 million loot recovered from Ibori and his associates.

Malami had said the recovered loot will be used to fund three infrastructural projects — 

Although the Delta government had noted that the money ought to be returned to the state, the AGF had said the law which Ibori breached is a , and not that of the state.

Malami had said the recovered loot will be used to fund three infrastructural projects — Lagos Ibadan , Kano -Abuja expressways and the 2nd Niger Bridge.

But the Delta government had kicked against the federal government making use of the funds that the money ought to be returned to the state, while the AGF had said the law which Ibori breached is a federal law and not that of the state.

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