UK court to confiscate £100m allegedly linked to James Ibori

A London court is gearing up to rule on the confiscation charge of approximately £100 million that has been linked to James Ibori, the former governor of Delta state, Nigeria.

During the hearing on Thursday, the prosecution urged the court to confiscate the sum of £101.5 million that was traced to Ibori. The lead prosecution counsel, Jonathan Kinner, emphasized that the money should be seized, and if the ex-governor fails to cooperate, he should face imprisonment.

The issue at hand has brought about arguments between the prosecution and defence counsels regarding how the confiscation figure should be calculated.

David Tomlinson, a judge at Southwark Crown Court, has already made “factual findings” concerning the funds and is expected to formally issue his order on Friday or shortly thereafter.

The ruling will bring an end to a decade-long legal battle over the attempt to confiscate the funds.

Background:

James Ibori served as the governor of Delta state from 1999 to 2007.

In 2012, a UK court sentenced him to 13 years in prison after convicting him of fraud and money laundering.

Ibori completed his jail term in 2016 and returned to Nigeria the following year.

Over the years, British prosecutors have made numerous attempts to confiscate assets believed to be the proceeds of Ibori’s crimes.

In 2020, the United Kingdom launched a bid to confiscate assets worth £117 million, which were allegedly linked to Ibori.

In March 2021, the UK government signed a memorandum of understanding with Nigeria for the repatriation of £4.2 million recovered from Ibori.

In May 2021, the federal government received the £4.2 million in repatriated funds.

As the court prepares to deliver its verdict, it remains to be seen how this long-standing legal saga will finally be resolved.