… Funds to be used for completion of the 2nd Niger Bridge, Abuja–Kano Expressway, Lagos–Ibadan Expressway
The government of the United Kingdom, UK, has agreed to repatriate to Nigeria the £4.2 million looted by the former governor of Delta state, Mr James Ibori and his associates and stuck in that country.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami stated this on Tuesday, at the signing of memorandum of understanding, MoU, between Nigeria and United Kingdom on return and management of stolen assets recovered from former Delta governor and associates.
According to him, international cooperation and mutual trust could yield benefits for the citizenry in developing countries who are the direct victims of acts of corruption.
“Today, being the 9th day of March, 2021, we are at the threshold of another major milestone in our determined quest as a nation, to attain full recovery of all looted assets, prevent abuse of recovered assets and also to ensure optimal utilization of such recovered assets for the benefit of our deserving citizens.
“I wish to remark that today’s ceremony and the recoveries attached thereto has again underscored the fact that international cooperation and mutual trust can yield great benefits for the citizenry in developing countries who are the direct victims of acts of corruption.
“The governments of Nigeria and the United Kingdom have concluded negotiations for the return of £4.2 million to Nigeria pursuant to the Memorandum of Understanding earlier executed by the two governments in 2016.
“It is to be recalled that the Nigerian government had all along provided the required mutual assistance and backup to the British authorities while the prosecution of James Ibori lasted in London and today, we are rightfully taking benefit of that cooperation.
“I cannot but observe that what we are witnessing today is a glaring manifestation of the agelong national ties between the Federal Republic of Nigeria and the United Kingdom.
“I am confident that both the Nigerian and British governments remain committed to all affirmative actions to combat corruption/illicit financial flows, ensure that looters do not find comfort or save haven in our territories and also to guarantee that the forfeited or recovered proceeds of corruption are deployed to the benefit of the masses,” Malami said.
He disclosed that as in previous recoveries, the Federal Executive Council, FEC, had directed that the repatriated funds be channeled to the completion of the Second Niger Bridge, Abuja – Kano expressway and the Lagos – Ibadan expressway under the coordination of the Nigeria Social Investment Authority (NSIA).
“In consonance with existing framework or model engaged in the management of previous recoveries, the Federal Executive Council, FEC, under the able leadership of President Muhammadu Buhari, has directed that the instant repatriated funds should be deployed towards the completion of the following legacy projects: the Second Niger Bridge, Abuja – Kano expressway and the Lagos – Ibadan expressway under the coordination of the Nigeria Social Investment Authority (NSIA) to ensure integrity of the process while a reputable Civil Society Organization has been engaged to monitor/supervise the expenditure of the recovered funds on the execution of these critical projects which are evenly spread across the country.
“We have established, as a government, a reputation of transparency and accountability of utilization of recovered assets as a nation. These assets will in no way be different in terms of application.
“I am highly elated and privileged to perform this assignment on behalf of Mr. President and Nigerians in general. I commend the sincerity of purpose of the British government as we look forward to similar assistance and cooperation in bringing to book all other persons and entities who at the moment are inequitably exploiting the system in UK to shield themselves from justice,” he further explained.
Malami acknowledged the support of President Muhammadu Buhari, which resulted in the concluded and ongoing recoveries of Nigeria’s commonwealth for its common good.
