2nd Niger Bridge, Lagos-Ibadan road to benefit from £4.2m Ibori loot – FG

The Federal Government says the £4.2m loot recovered from former governor of Delta State, James Ibori, will be used to fund the second Niger Bridge and Lagos-Ibadan expressway.

Attorney-General of the Federation, Abubakar Malami, who disclosed this on Tuesday, gave the third project to benefit from the funds as Abuja–Kano expressway.

The government had earlier deployed $321m loot recovered from Sani Abacha, former head of state, for the construction of the same projects.

The fresh loot was seized from Ibori who was convicted of fraud and money laundering by a UK court in 2012.

It will be returned to Nigeria following a memorandum of understanding (MoU) signed on Tuesday by the federal government and the UK.

At the MoU signing in Abuja, Malami said Nigeria was committed to combating illicit financial flows and ensuring that forfeited or recovered proceeds of corruption are deployed “to the benefit of the masses.”

“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,” he said.