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FG: We’re pursuing additional £100m loot linked to Ibori

FG: We’re pursuing additional £100m loot linked to Ibori
March 09
22:49 2021

The federal government says it is still working on the recovery of additional looted assets within the region of £100 million, linked to James Ibori, former governor of Delta state.

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Abubakar Malami, attorney-general of the federation, stated this when he featured on a Channels Television programme on Tuesday.

When asked about the recovery of other looted funds abroad, Malami said the federal government is still pursuing additional components linked to Ibori and Sani Abacha, former head of state.

Malami noted that the federal government has only succeeded in recovering £4.2 million from around £100 million traced to the former governor.

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“The quantum of the amount involved was within the region of £100 million. It is out of it that we succeeded in the recovery of £4.2 million. We are still pursuing additional sums within the estimated region of £100 million. That would be a function of conviction, as I stated earlier, and subsequent recovery process,” he said.

“There is still another component of Abacha’s asset being pursued for recovery and that is within the region of $100 million.

“The assets that we’re now pursuing within the immediate reach are additional Ibori and Abacha assets and, some of these assets are within the region of £100 million relating to Ibori, and $100 million to Abacha.”

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On Tuesday, the United Kingdom committed to returning £4.2 million loot recovered from Ibori and his associates.

Malami said the recovered loot will be used to fund Lagos–Ibadan, Abuja–Kano expressways and second Niger bridge projects.

Meanwhile, the federal government had earlier chanelled $321 million loot recovered from Abacha into infrastructural projects in the country.

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