Breaking: UK Govt to repatriate £4.2M ‘Ibori Loot’

The United Kingdom has signed a Memorandum of Understanding (MoU) to return the sum of £4.2 million of stolen assets by Former Delta State Governor, James Ibori.

Catriona Laing, the British High Commissioner to Nigeria, declared this on Tuesday in Abuja, the country’s capital.

The money was recovered from friends and family members of the former governor, according to Laing, who signed the MoU at the Ministry of Justice’s Conference Hall.

She expressed her displeasure with the practice of many Nigerians siphoning money from the country to the United Kingdom, claiming that it has harmed the degree of confidence between the two countries.

However, Laing cautioned that looters would no longer be able to funnel proceeds of crime into the UK.

The recovered funds would be used to finance the Lagos-Ibadan route, the Abuja-Kano road, and the second Niger Bridge, according to the Federal Government.

More details shortly…