Why transfer of £4.2 million Ibori loot to Nigeria is delayed – Malami

Nigeria’s Attorney-General of the Federation (AGF) Abubakar Malami, said on Monday that the 4.2 million (about N2.4 billion) recovered from associates of the convicted former Governor of Delta State, James Ibori, in the United Kingdom (U.K.), would soon be transferred to Nigeria.

Mr Malami’s spokesperson, Umar Gwandu, said in a statement that the delay in the repatriation of the fund since the March 2021 agreement between the Nigerian and U.K. governments was partly caused by documentations in foreign banks.

“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 statement said.

The statement noted that sometimes, when a country transfers funds, it may take more than the expected time due to some documentations.

It added that the government was “working assiduously” to ensure that the fund was repatriated to Nigeria soon.

PREMIUM TIMES reported that the representatives of both the U.K. and Nigerian governments signed an agreement for the return of the money, which translates to about N2.4 billion, to Nigeria in Abuja on March 9.

The signing of…

Read All From Original Article on Premiumtimes

Be the First to get breaking news in Nigeria. Download All Naija Media App Now.  Also. Advertise with us.

%d bloggers like this: