SENATE: =N=4.4 BILLION NAIRA SPENT TO GET IBORI'S CONVICTION

The Chairman, Senate Committe on Drugs, Narcotics, Financial Crimes and anti-corruption , Senator Victor Lar has said that a whopping sum of 14 million pounds (=N=4.4 billion) was spent to secure the conviction in the United Kingdom of former governor of Delta State, James Ibori in April 2012.

He said this while Federal Government Agencies under the supervision of his committee were defending their 2015 budgets in the Senate.

He said while people are rejoicing at Ibori's conviction , its important to note that the =N=4.4 billion spent is more than 10 years recurrent and capital budgets of all the anti-corruption agencies put together.

He said other countries are able to prosecute financial crimes successfully because a percentage of funds recovered from the proceeds of the crime was usually retained by the recovering agency for funding  of their activities.