The Federal Government says in consonance with the existing framework engaged in the management of previous recovered funds, the Federal Executive Council, FEC, has directed that the instant repatriated James Ibori funds be deployed towards the completion of the following legacy projects: the Second Niger Bridge, Abuja – Kano expressway and the Lagos – Ibadan expressway under the coordination of the Nigeria Social Investment Authority (NSIA).
This is contained in a statement by the Attorney General of the Federation and Minister of Justice, Abubakar Malami during he signing of a Memorandum of Understanding (MoU) with the United Kingdom to return the sum of £4.2 million assets stolen by former Delta State Governor, James Ibori to Nigeria on Tuesday.
According to Malami, this is to ensure integrity of the process while a reputable Civil Society Organization has been engaged to monitor/supervise the expenditure of the recovered funds on the execution of these critical projects which are evenly spread across the country.
“We have established, as a government, a reputation of transparency and accountability of utilization of recovered assets as a nation. These assets will in no way be different in terms of application”.
“I am highly elated and privileged to perform this assignment on behalf of Mr. President and Nigerians in general. I commend the sincerity of purpose of the British government as we look forward to similar assistance and cooperation in bringing to book all other persons and entities who at the moment are inequitably exploiting the system in UK to shield themselves from justice”.
The AGF however noted that today’s ceremony and the recoveries attached has again underscored the fact that international cooperation and mutual trust can yield great benefits for the citizenry in developing countries who are the direct victims of acts of corruption.
