The United Kingdom is set to return the sum of £4.2m recovered from associates and family of former Delta State Governor, Chief James Ibori, to Nigeria any time from now.
British High Commissioner in Nigeria, Catriona Laing, disclosed this Tuesday during signing of a Memorandum of Understanding (MoU) in Abuja between the United Kingdom and Nigeria.
Laing stated that the signing of the agreement apart from showing the two countries determination to lead the way in a coordinated global effort to bring corrupt individuals to justice, “sends a clear message to Nigerians that the former governor has been held to account.”
Laing stated that the agreement further demonstrated that money obtained through criminality or corruption was not welcome in the UK.
She added that the UK would ensure that the full weight of law was brought upon those who look to use, move or hide their proceeds of crime in the UK.
“It is vitally important that this agreement makes strong provision for transparency, monitoring and accountability. It is a guiding principle of both the UK and Nigerian governments that stolen assets should be used for projects that benefit Nigeria’s poor,” she said.
The High Commissioner added that all things being equal the £4.2 million would be made available to Nigeria “in the next couple of days.”
The funds would be the first of seized assets to be returned by the UK under the UK-Nigeria MoU entered in 2016.
Ibori, had in 2012 pleaded guilty to money laundering and other charges in a UK court and was consequently sentenced to 13 years imprisonment.
Some of his family members and associates were convicted and also sentenced to prison over similar charges.
However, the federal government in the 2016 MoU has been pursuing the return of the monies and others in the UK to Nigeria.
Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), who signed on behalf of Nigeria, described the event as “another major milestone in our determined quest as a nation to attain full recovery of all looted assets, prevent abuse of recovered assets and also to ensure optimal utilization of such recovered assets for the benefit of our deserving citizens.”
Malami recalled that the Nigerian Government had, all along, provided the required mutual assistance and backup to the British authorities while the prosecution of James Ibori lasted in London.
“I cannot but observe that what we are witnessing today is a glaring manifestation of the agelong national ties between the Federal Republic of Nigeria and the United Kingdom.
“I am confident that both the Nigerian and British governments remain committed to all affirmative actions to combat corruption/illicit financial flows, ensure that looters do not find comfort or save haven in our territories and also to guarantee that the forfeited or recovered proceeds of corruption are deployed to the benefit of the masses,” he said.
The AGF disclosed that in consonance with existing framework or model engaged in the management of previous recoveries, the Federal Executive Council had directed that the instant repatriated funds should be deployed towards the completion of the Second Niger Bridge, Abuja – Kano expressway and the Lagos – Ibadan expressway under the coordination of the Nigeria Social Investment Authority (NSIA).
The decision, he explained, was to ensure integrity of the process, adding that a reputable Civil Society Organization has been engaged to monitor/supervise the expenditure of the recovered funds on the execution of these critical projects which are evenly spread across the country.
He commended the sincerity of purpose of the British government even as he noted that Nigeria looks forward to similar assistance and cooperation in bringing to book all other persons and entities who at the moment are inequitably exploiting the system in UK to shield themselves from justice.
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