Looted funds: UK repatriates £70m to Nigeria, promises to return more
United Kingdom said it has repatriated £70 million stolen by an unnamed Nigerian citizen who was convicted in an Italian court.
British High Commissioner to Nigeria, Mr Paul Arkwright, who revealed this to reporters in Abuja on Monday, however, declined to disclose the identity of the person involved in the offence.
He said, “There was an Italian court case with a particular person involved. A portion of the fund has been in the UK and that was the portion that was returned recently from the UK to Nigeria. So, it’s in that context that the £70 million was returned.”
He said more funds would be repatriated, stressing that his country was working with the Federal Government to accelerate the legal process of returning the looted money.
“The British government has no intention of keeping one kobo of Nigerian funds in the UK, it all must come back to Nigeria. Just as in Nigeria, the UK feels that the judicial process is important, and we have to go through those processes before the money can be returned,” he added.
Arkwright stated that security, trade, investment and 2019 elections will top the discussion between the British Prime Minister, Theresa May and President Muhammadu Buhari during the UK PM state visit on Wednesday.