Nigeria’s Federal Government has received £4,214,017.66 of the loot associated with the family members of former Delta State governor, James Ibori.

Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has already confirmed the receipt, according to his media aide, Umar Jibrilu Gwandu.

In a statement, Gwandu said the amount has been credited into the designated Federal Government account with the naira equivalent since May 10, 2021.

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He said Malami signed a Memorandum of Understanding for the repatriation of the Ibori loot on behalf of the Federal Government of Nigeria.

The development, according to Malami, was a demonstration of the recognition of reputation Nigeria earns through records of management of recovered stolen Nigerian stolen in the execution of public-oriented projects.

Onyinye Nwachukwu is the Abuja Bureau Chief of BusinessDay, overseeing coverage across Abuja and Northern Nigeria. With more than two decades of experience in economic and financial journalism, she reports on business, policy, and market trends, linking local developments to the global economy. A fellow of the International Monetary Fund (IMF) and recipient of the P. Vishwanathan Memorial Award for Excellence in Financial Journalism, she is known for her insightful storytelling and interviews with senior policymakers, diplomats, and business leaders. Well traveled and globally minded, Onyinye brings depth and international perspective to her reporting.

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