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Delta may lose out on $250m Ibori loot

29 December 2016, 07:01

Delta - The Delta State Government may not get anything from the about $250m worth of assets and money which the United Kingdom claims a former governor, James Ibori, stole from the state, Punch reports.

Ibori is currently facing a confiscation hearing which may lead to the permanent forfeiture of all his assets purchased with the proceeds of crime.

The British Government had accused Ibori of stealing about $250m from the Delta State Government part of which was used in buying six houses and luxury vehicles in the UK, the United States and South Africa.

Already the Delta State Government has permanently forfeited $15m of the Ibori loot to the Federal Government for failing to cooperate with the Economic and Financial Crimes Commission to bring Ibori to justice. The state government had even challenged the EFCC’s right to probe Ibori in 2008, insisting that Ibori never stole.

While giving his ruling on the case of the EFCC vs the Delta State Government regarding the ownership of the $15m which Ibori allegedly used in bribing a former Chairman of the EFCC, Nuhu Ribadu, Justice Gabriel Kolawole had accused the state government of protecting Ibori.

The judge ruled that money recovered from Ibori must be paid into the Federation Account and not the Delta State coffers.

Ibori was released from the UK prison upon a court order according to News24.

- News 24

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