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UK to Return £4.2m ‘Ibori Loot’ to Nigeria

The United Kingdom has promised to return to Nigeria £4.2 million (about N2.4bn)which was stolen by a former Delta State Governor. The former governor, James Ibori was convicted of money

The United Kingdom has promised to return to Nigeria £4.2 million (about N2.4bn)which was stolen by a former Delta State Governor.

The former governor, James Ibori was convicted of money laundering in the UK in 2012.

He is thought to have stolen around £50 million about 28.6 billion Naira from the oil-rich state.

This is the first time that money recovered from criminals will be returned to Nigeria since an agreement was signed in 2016, the UK authorities say.

The UK and Nigerian governments signed an agreement on Tuesday that the £4.2m recovered by UK agencies would be sent back to Nigeria for infrastructure projects, including the Lagos to Ibadan Expressway, the Abuja to Kano road and the Second Niger Bridge.

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