The UK will return to the Nigerian government 4.2 million Pounds stolen by a governor of Delta State, James Ibori, who served a jail term in London for fraud.
The money was stolen by Ibori and his associates just as was jailed in 2012 for fraud amounting to nearly 50 million Pounds after a drawn-out extradition procedure and his evasion of arrest and prosecution in Nigeria while a failed appeal in 2018 cleared the way for a seizure of his UK assets.
Billions of pounds worth of Nigerian government funds have been taken out of the country and laundered in countries like the UK, where Nigerian elites have built extensive property portfolios and assets.
The UK government has faced criticism for not doing enough to prevent foreign officials acquiring property and assets in UK jurisdictions.
Nigeria’s justice minister signed an agreement on Tuesday with the UK high commissioner in Nigeria’s capital, Abuja, to return the recovered funds. The Federal Government of Nigeria said the funds would be used on key infrastructure and building works.
The UK’s Africa minister, James Duddridge, hailed the move, saying:
When money is stolen from public funds it hits the poorest communities the hardest and means money can’t be spent where it’s most needed.
READ ALSO: Confusion In CCB As Tinubu’s File Disappears From Asset Declaration Vault
Home Office Minister, Susan Williams, also described the deal as “a significant moment in our fight against illicit finance wherever it is found.”
The agreement follows a memorandum of understanding signed between Nigeria and the UK, its former colonial power in 2016, which aimed to return the seized proceeds of bribery or corruption within a framework that commits Nigeria to transparent use of the returned funds.
Ibori, who was once a cashier at UK DIY stores, stole public funds to buy luxury properties and cars and a private jet.
He served four years of a 13-year jail term, which anti-corruption campaigners hailed as a rare victory in the fight against international graft.
Corruption has long been endemic in Nigeria. A corruption perception index by Transparency International ranks the country 149th out of 180 countries.
Nigeria’s government under President Muhammadu Buhari has pursued the seizure of UK assets belonging to officials accused of corruption, but has failed to secure their release.
