BREAKING: Nigeria receives £4.2m Ibori loot from UK

The Federal Government of Nigeria has received £4,214,017 loot linked to former Delta State Governor, James Ibori.

Attorney-General of the Federation and Minister of Justice, Abubakar Malami made the confirmation on Thursday.

His spokesman, Umar Gwandu, in a statement said the designated government was credited with the Naira equivalent on May 10.

Malami signed the Memorandum of Understanding for the repatriation of the Ibori loot on behalf of the federal government.

The AGF said the repatriation was in recognition of Nigeria’s reputation earned through management of recovered stolen public funds.

Ibori was Governor from May 29, 1999 to May 29, 2007. In April 2012, he received a 13-year jail sentence after admitting fraud of nearly £50million.

He pleaded guilty two months earlier, to conspiracy to launder funds, substantive counts of money laundering and one count of obtaining money transfer by deception and fraud.

Judge Anthony Pitts told Southwark Crown Court in London in the light of other matters, aid Ibori’s loot “may be in excess of £200 million, it is difficult to tell”.

The Metropolitan Police estimated that Ibori embezzled £157 million of state money.

“James Ibori’s sentence sends a strong and important message to those who seek to use Britain as a refuge for their crimes”, said Andrew Mitchell, then UK International Development Secretary.

Gov Okowa writes protest letter to Buhari over Ibori’s loot