London Court of Appeal rejects Ibori's bid to reduce the £101.5m confiscation order — the order stands
A London court on Tuesday rejected former Delta State governor James Ibori's bid to reduce the £101.5 million ($136.05 million) asset confiscation order imposed on him after his 2012 corruption conviction, and dismissed his appeal (Reuters; Premium Times' report of the judgment). Ibori had sought a cut of about £4.3 million, arguing the inflation adjustment (the CVM uplift) applied to money in frozen bank accounts was disproportionate; the Court of Appeal — Lord Justice Popplewell, Lord Justice Bryan and Judge Nicholas Dean — held the adjustment justified. The appeal had been holding up enforcement of the 2023 order, which now stands unless Ibori seeks to appeal to the Supreme Court; he told Reuters he was speaking to his lawyers about next steps.