Featured
UK launches fresh move to seize assets linked to Ibori
A prosecutor in the United Kingdom, Jonathan Kinnear, on Thursday initiated a fresh move to confiscate several millions of pounds stolen by a convicted former governor of Delta State, James Ibori.
The prosecutor began listing assets that Britain sought to confiscate from Ibori and return to Nigeria at Southwark Crown Court on Thursday.
About £117 million known proceeds of crime are being targeted but only a portion of the sum was likely to be recovered.
The case, according to Reuters, is expected to last about four weeks.
The former governor was sentenced to 13 years in prison by Southwark Crown Court in 2012 for fraud and money-laundering.
He returned to Nigeria upon his release in December 2016.
A first attempt was made in 2013 by British prosecutors to confiscate Ibori’s assets but it was aborted after three weeks of hearings due to unresolved legal disputes.
The confiscation process was stalled for several years while Ibori and his associates, who had been convicted for their roles in laundering the money, appealed unsuccessfully.
-
Business1 week agoCBN targets $12bn annual Diaspora inflows to boost FX liquidity
-
Business1 week agoSEC launches nationwide campaign to help investors recover unclaimed dividends
-
Business6 days agoNigerian AI researcher champions ethical artificial intelligence at COPA AI 2026 summit in Wales
-
Football5 days agoMessi calls Lamine Yamal World Cup final clash ‘Crazy’ after viral baby photo resurfaces
-
Business1 week agoCBN launches real-time FX tracker for BDCs, tightens oversight of FX market
-
Business7 days agoFood prices now biggest threat to inflation, beyond CBN’s reach – Analysts
-
Football1 week agoNigerians blast Super Eagles over France World Cup defeat post
-
Business1 week agoZenith Bank leads brokers’ buy ratings as analysts turn bullish on banking stocks