FG Expects N527bn Additional Ibori Loot

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The Federal Government says it still expects the return of over N527bn allegedly stolen by a former Governor of Delta State, James Ibori and his associates.

The FG said this through the Attorney-General of the Federation, Abubakar Malami (SAN) who featured on Channels Television’s Politics Today’ programme on Tuesday monitored by VANTAGE NEWS.

Malami also said that he FG expects additional billions traced to late Head of State, Sani Abacha.

Malami said, “As it is we have succeeded in recovering £4.2m 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 £100m (N2.2bn) 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 £100m (N527bn) and that will be a function of conviction and subsequent recovery process.”

The AGF also stated that the FG will not return the Ibori loot to the Delta State government because the crime that led to the embezzlement was a federal one.

Malami further said that the UK gave the FG a condition of tying the repatriated loot to FG projects such as the Lagos-Ibadan Expressway, Second Niger Bridge and the Abuja-Kano rail.

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