Ibori returns N1bn to Delta govt - It can’t be true - Delta govt

By Our Reporter - 07.01.2008

FORMER governor of Delta State, Chief James Ibori, who is in custody in Kaduna prison, has started refunding part of the N9.1 billion he allegedly stole from the public treasury.

It was gathered at the weekend that Chief Ibori had returned N1 billion to the coffers of Delta State being part of the N2.77 billion state funds he allegedly used in purchasing a 16 per cent stake in Afribank.

It was reliably gathered that the N1 billion refund was one of the steps towards restitution taken shortly before he was arrested in December and charged with theft at the Federal High Court in Kaduna State.

A Delta State government official who did not want to be named said that “I can confirm that Chief Ibori refunded N1 billion from the Afribank shares to Delta State before he was arrested.”

Prosecutors had alleged before the Kaduna Federal High Court that Ibori used N280 million stolen from Delta State to acquire shares in Afribank for fictitious persons. That principal (N280 million) had yielded interest and that was what Ibori hurriedly paid back to Delta State when the noose was tightening on him.

Sources preferring anonymity disclosed that Ibori returned the money shortly after handing over to his successor, Dr. Emmanuel Uduaghan, after realising that disturbing petition were being written concerning the finances of the state. The allegations of corruption against him mostly revolve around the Afribank shares.

Ibori was said to have paid the N1 billion representing the principal and interest allegedly invested in Afribank. The Chief Press Secretary to the state governor, Mr. Paul Odilli, when contacted, could not confirm this but rather said “I don’t think such ever happened. It cannot be true.”

Ibori, who is currently at the Kaduna Prison, was alleged to have defrauded the Delta State government of N9.1 billion, N2.77 billion of which was allegedly used to purchase shares of Afribank Nigeria Plc with names of about 15 fictitious persons and companies.