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Published On: Fri, Oct 25th, 2013

Delta State Forfeits Ibori’s $15 Million to Federal Government

Chief James Ibori

LAGOS OCTOBER 25TH (URHOBOTODAY)-The Federal High Court in Abuja has finally declared that the $15 million bribe money offered to the pioneer chairman of the Economic and Financial Crimes Commission, Mr. Nuhu Ribadu by former governor of Delta State, James Ibori, be forfeited to the federal government.
The hefty bribe has been a subject of litigation as the government of Delta State approached the court asking that the money be awarded to the state because it was taken from its treasury.
In its ruling, the court said that since the funds were proceeds of crime, it cannot be returned to the criminals that used to it to commit the crime of bribery.
It would be recalled that over $2.5 billion that was recovered from the Sani Abacha looting investigation by the Olusegun Obasanjo government has never been accounted for.
Source: Saharareporters

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