According to a Reuters report, a state prosecutor urged a London court on Thursday to seize over 100 million pounds ($129 million) from James Ibori, a Nigerian politician and former Delta State governor, due to his involvement in fraud. Ibori had been previously convicted for fraudulent activities in the United Kingdom and had served a substantial prison sentence there.
In 2011, Ibori was extradited from Dubai to London and faced charges related to money laundering a fortune acquired corruptly. He later pleaded guilty in 2012 to 10 counts of fraud and money laundering, receiving a 13-year jail sentence, a significant achievement in the UK’s battle against corruption.
Despite being a global hub for money laundering with its advanced financial and legal services and lucrative property market, Britain rarely prosecutes the foreign kleptocrats it attracts, making Ibori’s case an exception. After years of legal complications and court delays, prosecutors are now nearing the conclusion of their efforts to confiscate funds believed to be the proceeds of Ibori’s fraudulent activities.
During a recent court hearing, both sides presented their arguments about how the confiscation amount should be determined, considering the factual findings made by Judge David Tomlinson of Southwark Crown Court. The final confiscation order is expected to be issued by the judge on Friday or shortly thereafter.
Lead prosecution counsel, Jonathan Kinnear, proposed that 101.5 million pounds should be confiscated from Ibori, and if he fails to pay, he could face a prison sentence ranging from five to ten years. Ibori had returned to Nigeria in 2017 after serving half of his prison sentence and did not attend the recent hearing, stating via text message to Reuters that he plans to appeal against the confiscation order.
Ibori still wields influence and connections in Nigerian politics, having been hosted twice at the presidential villa by President Bola Tinubu, who was inaugurated in May. The UK has pledged to return any recovered funds from Ibori to Nigeria. In 2021, it already returned 4.2 million pounds that had been confiscated from Ibori’s ex-wife and sister, who were also involved in money laundering and had served jail time. ($1 = 0.7745 pounds)
