Nigeria to recover 150 million euros from Ibori fraud
A British court has ordered a former politician, James Ibori, and his accomplices, who were convicted of fraud and money laundering, to return 150 million euros to Nigeria. Ibori had pleaded guilty in a £50 million fraud case, and after a forfeiture hearing, the judge ordered him to repay over £101.5 million. If he fails to do so, he could face an additional eight years in prison. His UK-based lawyer, Badresh Babulal Gohil, who was sentenced to ten years in prison, was also ordered to repay over £28 million within six months, or risk six more years in prison. Additionally, a woman linked to Ibori’s cases, convicted of money laundering in 2010, has to pay back over £2.6 million.
The British police investigation into Ibori’s case began in 2005, focusing on corruption and theft of state funds during his time as governor of Delta State, particularly related to fraudulent share transactions in his mobile phone company. The National Crime Agency (NCA) spearheaded the investigation, uncovering that the money had been laundered through a network of offshore companies by Ibori’s lawyer. The NCA’s commander, Suzanne Foster, emphasized that this confiscation order demonstrates their commitment to prosecute illicitly obtained assets invested in the UK. The repatriated funds will be returned to the Nigerian government and reinvested in public services.