You are currently viewing £4.2m Recovered From James Ibori Loot Paid Back To Delta State Government—Accountant General

£4.2m Recovered From James Ibori Loot Paid Back To Delta State Government—Accountant General

The Accountant General of the Federation, Mr. Ahmed Idris, has said the £4.2m looted by a former Governor of Delta State, James Ibori, which the Federal Government recently repatriated from the United Kingdom, has been returned to the state.

The Chief Accountant of the federation, made the revelation before the House of Representatives Ad hoc Committee on “Assessment and Status of all Recovered Loots Movable and Immovable Assets from 2002-2020 by agencies of the Federal Government of Nigeria for Effective Efficient Management and Utilization”.

 

He stated that this was in line with laid down procedure as funds looted from a state are usually returned to the state. He pointed out that states could take the Federal government to court if such funds are not returned.

Also Read: CBN Raises Capital Base For Payment Service Providers To N250m From N100m

The recovered loot had been a subject of controversy after the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, initially said the money, which was being expected from the United Kingdom, would be spent to execute some projects undertaken by the Federal Government.

The Delta State government and some lawyers had kicked against it, saying it would be unfair to spend funds recovered from a former governor of state on another state.