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Malami: Bank documentation delaying repatriation of £4.2m Ibori loot

Author:
Bolanle Olabimtan

Abubakar Malami, attorney-general of the federation (AGF), has explained why the loot recovered from James Ibori, former governor of Delta, is yet to be returned to Nigeria.

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In a statement signed by Umar Gwandu, his spokesman, on Monday, Malami said the documentation process in foreign banks is taking longer than anticipated.

“Documentations with the banks in different countries often take longer than anticipated. We anticipated two weeks but we are not in control of the banks,” the AGF said.

He said the federal government “is in touch with the government of the United Kingdom on the matter”.

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“There is neither complacency nor any delay as efforts are being made to ensure successful transfer of the looted funds,” the statement read.

“To this end, Malami said any moment from now, Nigeria expects the return of £4.2m seized from the associates of convicted former Governor of Delta State, James Ibori.”

On March 9, the UK had committed to returning the £4.2 million loot recovered from Ibori and his associates.

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Malami had said the recovered loot will be used to fund three infrastructural projects — Lagos-Ibadan, Abuja-Kano expressways and the second Niger bridge.

Although the Delta government had noted that the money ought to be returned to the state, the AGF had said the law which Ibori breached is a federal law, and not that of the state.

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