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Home Business News Politics

Delta state says it is yet to receive the £4.2 million recovered Ibori loot

Chike Olisah by Chike Olisah
May 26, 2021
in Politics
Our Determination Is To Diversify Delta’s Economy, Says Gov. Okowa
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The Delta State Government has said that it is yet to receive the £4.2 million recovered from the former governor of the state, James Ibori, and returned by the UK Government.

The clarification follows the statement made by the Accountant General of the Federation, Ahmed Idris, on Tuesday, that the recovered Ibori loot has been returned to the Delta State Government.

This disclosure was made through a statement issued by the Chief Press Secretary to the Delta State Governor, Mr Olisa Ifeajika, on Wednesday, May 26, 2021, in Asaba, saying that no money with respect to the recovered funds had entered the coffers of the state government.

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What the Chief Press Secretary to the Delta State Governor is saying

Ifeajika in his statement said, “The Accountant-General of the Federation, Mr Ahmed Idris, had disclosed on Tuesday before the House of Representatives Committee on Recovered Assets, in Abuja, that the funds had been released to the state.

The money has not arrived in our coffers. Delta government is in contact with the Federal Government, especially the Office of the Attorney-General of the Federation, on the issue.

READ: SERAP asks Buhari to disclose spending details of recovered $700 million, plans for Ibori loot

It expresses appreciation for the disposition of the Federal Government in releasing the funds to the state and assured that it would acknowledge receipt of the funds when it arrives.

The government also assured the Federal Government and the people of Delta that the funds would, in tandem with Gov. Ifeanyi Okowa’s administration’s hallmark, be judiciously deployed especially in the completion of projects it had earlier intimated the Presidency about,” Ifeajika said.

READ: SERAP asks National Assembly leadership to probe fresh missing N4.1 billion

What you should know

It can be recalled that the £4.2 million loot was seized from the associates of convicted former Governor of Delta State, James Ibori, by the United Kingdom and recently returned to Nigeria.

The recovered loot was recently received by the Federal Government from the United Kingdom and the Accountant General of the Federation, Mr Idris, while appearing before the committee investigating the status of recovered loots, stated that the Ibori loot was returned to Delta State.

READ: FG places high profile Nigerians under security watch for terrorism financing

He said that any recovery that is arising from any state goes to that state, noting that state governors will not even allow it to fly as they will take the federal government to court.


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Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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