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FG returns 4.2million pounds to Delta State.

The Federal Government on Tuesday confirmed that it has handed over the recovered £4.2 million looted by former Delta State governor, Chief James Ibori, to the state government. 


It also disclosed that it had recovered $633.8 million and £9.709 million looted funds from Switzerland, Island of Jersey and United Kingdom since 2007 to date. 


The Accountant General of the Federation (AGF), Ahmed Idris gave the details in Abuja, during the ongoing investigative hearing held at the instance of the House of Representatives’ Ad-hoc Committee on assessment and status of all recovered loot, movable and immovable assets from 2002 to 2020 by agencies of the Federal Government of Nigeria for effective, efficient management and utilisation. 


The lawmakers also quizzed the Minister of Justice and Attorney General of the Federation, Abubakar Malami on the disappearance of £5 million recovered looted funds that did not reflect in the AGF account, as well as his involvement in the $6.21 million National Security Adviser’s office kept in a separate recovery account domiciled with the apex bank.


Breakdown of the recovered funds showed that the sums of $322 million was recovered in December 2017 from Switzerland; $311,797,866.11 was recovered from Island of Jersey and United Kingdom in May 2020; £5,494,743.71 from the Republic of Northern Ireland in Nigeria known as Abacha Loot; and £4,214,017 from UK known as Ibori loot in May 2021. 


The Accountant-General, who was reportedly grilled by the committee for over an hour over some alleged missing funds, requested for more time to provide details. 


While responding to question on the opening of separate accounts for recovery looted funds besides the four accounts he mentioned during his submission, Ahmed said, “We open the accounts, we run the accounts, we are custodian of the accounts but only Mr President has the absolute powers to direct on the expenditure of the accounts. All the accounts are linked to TSA. 


“There are four recovery accounts but in addition we also have dollars accounts, pounds, and Euro accounts. Main assets account, final forfeiture account, interim account. For guidance of the committee, the list is attached to my documents which I have submitted to the committee

Source: TribuneOnline

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