Nigeria has recovered $633.8m, £9.709m looted funds so far, hands over recovered Ibori loot to Delta state ― Accountant General

Federal Government on Tuesday disclosed that it has recovered the sum of $633.8 million and £9.709 million looted funds from Switzerland, the Island of Jersey and the United Kingdom since 2007 to date.

Out of the recovered funds, Federal Government confirmed that it has handed over the recovered £4.2 million looted by former Delta State Governor, Chief James Ibori to the state government, which was recently repatriated by the United Kingdom to Nigeria.

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 for effective, efficient management and utilisation.

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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 the Island of Jersey and the 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 the UK known as Ibori loot in May 2021.

He said: “All these assets as recovered are indeed lodged with the CBN Account on Assets Recovery and the receipts of the amounts have been confirmed by the CBN.”

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