Since the signing of memorandum of understanding, MoU, between the federal government of Nigeria and United Kingdom for the repatriation of £4.2m looted funds by former governor of Delta state, Mr James Ibori, there has been arguments as to who the recovered funds belong.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami after the signing of the MoU disclosed that the money would be used for the construction of the second Niger Bridge, Abuja-Kano and Lagos-Ibadan Express Expressways.
Reacting to the development on Wednesday, the House of Representatives in a unanimous motion, moved to halt the use of the funds by the Federal government, arguing that the funds were stolen from the coffers of Delta government.
Malami however in a ChannelsTV programme monitored by ASHENEWS, explained that the loot recovered be used for federal projects and not returned to the Delta state government from where it was stolen.
“The major consideration relating to who is entitled to a fraction or perhaps the money in its entirety is a function of law and international diplomacy,” Malami said.
He further insisted that Ibori breached federal laws and the parties involved in the repatriation of the funds were Nigerian and British governments.
“All the processes associated with the recovery were consummated by the federal government and the federal government is, indeed, the victim of crime and not sub-national…it’s a matter of negotiation between two sovereign states,” he said.
The minister said that “judicial processes”, which required all appeals to be exhausted before final forfeiture is granted, delayed the matter.
“This hampered the speedy recovery of the looted assets,” he said.
