Why FG is yet to receive £4.2m Ibori’s loot – Malami

The Attorney-General of the Federation, Abubakar Malami (SAN), has said that funds looted by former Delta Governor, James Ibori will be repatriated to Nigeria soon.

The AGF attributed the delay in receiving the £4.2m loot to issues around bank documentations.

Umar Gwandu, his spokesman, in a statement, noted that sometimes when a country transfers funds, it takes more than expected due to some documentation.

The AFG assured that his office and other authorities would keep the public informed when the loot arrives in the country.

“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.

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

The minister also said that the Nigerian government has been in touch with the United Kingdom to ensure the successful transfer of the funds.

Recall that the Federal Government, through Malami, had on March 9, 2021, signed a Memorandum of Understanding with the UK on the return of the Ibori loot.

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