Wednesday, October 17, 2018
Ibori Loses Appeal Against UK Graft Conviction
The Court of Appeal’s ruling against James Ibori, is a relief for the British authorities at a time when they are trying to stem the flow of dirty money from overseas through London.
Ibori, who in his heyday was one of Nigeria’s richest and most powerful men, pleaded guilty in a London court in 2012 to 10 counts of fraud and money-laundering involving sums amounting to at least 50 million pounds ($66 million).
He received a 13-year jail sentence of which he served half, as is common in the British system, and is now back in Nigeria.
Wednesday’s ruling will allow Britain to resume efforts to confiscate millions of dollars’ worth of assets and return them to Nigerian public coffers. The assets have been frozen for years while the case has been dragging through the courts. Good news to Nigerian!