The Attorney-General of the Federation, Abubakar Malami, has given a detailed rationale on Tuesday, March 9, as to why the loot recovered from former Delta State Governor, James Ibori will be used for federal projects.
Ripples Nigeria had reported that Malami, earlier on Tuesday with the British High Commissioner to Nigeria, Catriona Laing, announced the return of £4.2 million recovered from Mr. Ibori and his friends.
The funds, set to arrive in the country within two weeks, are expected to be used for the construction of the second Niger Bridge, Abuja–Kano road, and Lagos–Ibadan Express road and not returned to the Delta State Government where it was pilfered from.
“The major consideration relating to who is entitled to a fraction or perhaps the money in its entirety is a function of law and international diplomacy,” Mr. Malami said during his Tuesday appearance on Channels Television’s Politics Today.
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Furthermore, Malami stated that the law which was alleged to have been breached by Ibori was a federal law and that the parties of interests involved in the repatriation of the funds were national and not sub-national governments.
“All the processes associated with the recovery were consummated by the federal government and the federal government is, indeed, the victim of crime and not sub-national,” he said.
When pressed on whether the British government had insisted that the money be spent on certain projects, Mr. Malami said it was not “a matter of insistence but a matter of negotiation between two sovereign states.”
Ibori was convicted by a UK court in 2012 after pleading guilty to 10 charges of fraud and money laundering.
But the negotiations for the repatriation of his looted assets lasted for over seven years, due to what Mr. Malami described as “judicial processes” which require all appeals to be exhausted before final forfeiture is granted.
“This hampered the speedy recovery of the looted assets,” he said.
Mr. Malami, who also doubles as the Minister of Justice, said the government is pursuing the recovery of other looted assets, including more Ibori assets amounting to over £100 million.
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