He said although the Federal Government had anticipated two weeks within which the loot would have been repatriated but the government is not in
control of the banks.
The minister’s Special Assistant on Media and Public Relations, Dr Umar Gwandu, disclosed this in a statement titled ‘Ibori loot expected soon
Recall that the Federal Government, through Malami, had on March 9, 2021 signed a Memorandum of Understanding with the UK on the return of the Ibori loot.
Despite the delay in the return however, the minister assured Nigerians that the government is working tirelessly to ensure the return of the
Ibori loot and other looted Nigerian assets kept outside the country’s territorial boundaries.
He explained further that sometimes when a country transfers funds, it may take a little bit time more than expected due to some documentations.
He said his office and other relevant government agencies would keep the public informed once the Ibori loot are received and confirmed, adding
that the Federal Government is in touch with UK government on the matter.
“Documentations with the banks in different countries often take longer than anticipated.
“We anticipated two weeks but we are not in control of the banks,” the statement quoted Malami as saying.
He maintained that the Federal Government is working assiduously to make sure that the transfer goes through successfully.
“There is neither complacency nor any delay as efforts are being made to ensure successful transfer of the looted funds,” he further quoted as
He said the loot is being expected “any moment from now.”