Ibori may lose £250m in assets as he appears in UK court for hearing

Former governor of Delta State, James Ibori, on Friday appeared before a Southwark Crown court for his asset forfeiture hearing.
Ibori, who regained his freedom in December 2016 after spending four-and-a-half years in a United Kingdom prison for money laundering, may forfeit assets worth about £250m should the judge rule against him, The Cable reports.

The British Government had accused Ibori of stealing about $250m from the Delta State Government part of which was used in buying six houses and luxury vehicles in the UK, the United States and South Africa.

The Delta State Government has already permanently forfeited $15m of the Ibori loot to the Federal Government for failing to cooperate with the Economic and Financial Crimes Commission to bring Ibori to justice.