Attorney General of the Federation and Minister of Justice, Abubakar Malami, has given reasons for the delay in the return of the £4.2 million allegedly looted by a former governor of Delta State, James Ibori.
Malami had at a ceremony on March 9, while representing the Federal Government, signed an agreement with the British High Commissioner to Nigeria, Catriona Laing, on the repatriation of the funds.
At the meeting, it was announced that the funds would be repatriated within two weeks.
Spokesman to Malami, Dr Umar Gwandu, said in a statement on Monday that issues relating to the documentation of funds transfers was delayed because of some documentations.
According to him, the Federal Government is working tirelessly to ensure the return of looted Nigerian assets stashed abroad.
He said, “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.
“There is neither complacency nor any delay as efforts are being made to ensure successful transfer of the looted funds.”
The government had announced the use of the funds for the completion of ongoing work on Second Niger Bridge, Abuja to Kano and Lagos Ibadan expressways, which were already being funded by the recovered $311m Abacha Loot III, adding that it will be monitored by a reputable civil society organization under the management of the Nigerian Sovereign Investment Authority.
But Delta State Government, prominent lawyers and CSOs kicked against this plan by the Federal Government, demanding that the funds be returned to Delta.