• Contact Us
  • About Us
Wednesday, June 25, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home News

Ibori: Why Delta State may not be given any amount from $250m loot

metro by metro
December 28, 2016
in News
0
0
SHARES
0
VIEWS
James Onanefe Ibori
James Onanefe Ibori

Delta State Government may not receive one kobo from the $250m worth of assets and money the United Kingdom claims a former governor, Chief James Ibori, stole from the state’s coffers.

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

Read Also

110 Associations Apply For Registration As Political Parties In Nigeria

Despite Opposition, Senate Confirms Non Indigene As Rivers Electoral Commission Chair

Deportation Of Migrants By Trump Outside Own Countries Resumes As Supreme Court Lifts Order

Britain had accused Ibori of stealing about $250m from his state, part of which he used to buy houses and luxury vehicles in the UK, the United States and South Africa.

Indications have emerged that Delta State Government which has permanently forfeited $15m of the Ibori loot to the Federal Government for refusing to cooperate with the Economic and Financial Crimes Commission, EFCC, will again lose out if the $250m loot is repatriated.

According to the law, Delta can only get the money if it files a suit against Ibori and show evidences that the money was stolen.

But the state government which challenged the EFCC’s right to probe Ibori in 2008, still insists that the former governor never stole.

In his ruling on the case of the EFCC vs the Delta State Government on the ownership of the $15m Ibori allegedly offered Nuhu Ribadu, former EFCC Chairman, Justice Gabriel Kolawole lamented that the state government was shielding Ibori.

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

Meanwhile, a source told the Punch that Delta State had so far done nothing to assist in the investigation and prosecution of Ibori and should thus would not be entitled to any money.

The senior detective said the actions of Governor Ifeanyi Okowa-led government suggested that the state government firmly supports Ibori.

“The state government has not shown any seriousness in helping to recover Ibori’s loot. Back in 2009, the state government did everything possible to frustrate the Federal Government’s efforts and even went to court to challenge the EFCC. They claimed Ibori never stole.

“Much has not changed today because the state government last week issued a statement celebrating the release of Ibori. The Attorney General of the state, Mr. Peter Mrakpor, celebrated Ibori’s release and even called on the Federal Government to pardon him.”

Tags: Ibori
Previous Post

Sudden rise in reserves, oil price seen closing Nigeria’s multiple FX rates

Next Post

FG to buy vechicles worth of N400m for ex-presidents and vices

Related Posts

110 Associations Apply For Registration As Political Parties In Nigeria
News

110 Associations Apply For Registration As Political Parties In Nigeria

June 25, 2025
Senate
News

Despite Opposition, Senate Confirms Non Indigene As Rivers Electoral Commission Chair

June 25, 2025
Trump
News

Deportation Of Migrants By Trump Outside Own Countries Resumes As Supreme Court Lifts Order

June 24, 2025
Amid Foggy Circumstances, Trump Says Israel, Iran Agree On Ceasefire Deal
News

Amid Foggy Circumstances, Trump Says Israel, Iran Agree On Ceasefire Deal

June 24, 2025
Next Post
Muhammadu Buhari

FG to buy vechicles worth of N400m for ex-presidents and vices

110 Associations Apply For Registration As Political Parties In Nigeria

110 Associations Apply For Registration As Political Parties In Nigeria

June 25, 2025
Shell

Shell In Early Talks To Buy Rival BP, WSJ Reports

June 25, 2025
Senate

Despite Opposition, Senate Confirms Non Indigene As Rivers Electoral Commission Chair

June 25, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version