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Ibori to appeal UK court order confiscating his $130m

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James Ibori
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• Nigerian group faults judge, backs Ibori’s appeal move

Former governor of Delta state, Mr James Ibori has accused London judge, David Tomlinson, of being impartial for ordering the confiscation of his $130m yesterday which he argues is “both wholly unrealistic and unrealisable”.

Judge David Tomlinson, delivering the confiscation order at Southwark Crown Court, said Ibori should pay the sum immediately or face an eight-year jail sentence.

Reacting after a court hearing outside the Royal Courts of Justice in London, Britain, the former governor said he would appeal against the confiscation order, which he said was difficult to comprehend and even harder to accept.

Meanwhile, a socio-political group, Rescue Nigeria Economy Project, has faulted the ruling and backed Ibori’s decision to appeal while expressing hope that justice will prevail eventually.

In his statement, Ibori said, “Albert Einstein is quoted as saying that the ‘definition of madness is doing the same thing over and over again and expecting a different result’. If that is true then I must be going mad because in over a decade since the British Courts have been persecuting me and those close to me – I kept believing that justice and fairness would eventually triumph.

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“In hearing after hearing through the years, despite some of the most logic-defying rulings against me- I still believed. Despite clear evidence of police corruption against the main officer in my case (evidence so strong that it caused the lead prosecutor to resign from my case) I still believed. Despite a clear victory in my 2013 Confiscation hearing which left the Judge unable to make an order against me, only to have him rule that the prosecution should start the trial afresh some years later – I still believed.

“However, today’s ruling from Judge Tomlinson is difficult to comprehend and even harder to accept. I have to move past the fact that the British Courts found themselves competent to sit in Judgment over contracts awarded in Delta State, for contracts that were legitimately awarded and completed. I have come to accept my fate despite the inability of the British prosecutors to show any evidence whatsoever of monies defrauded or indeed missing from Delta State.

“Since 2005 the British Prosecutors have investigated my assets worldwide, they have had a restraint order in place on most of those assets and they are well aware that the total monetary value of those assets is nowhere close to the sums that were the subject of today’s Order. Not withstanding the fact that many of the assets are not and have never been owned by me – it seems that if you are my friend and you allowed me to spend some holiday time in your house, then by this order I now own your home and must ask you to sell it to satisfy the Order.

“The Order made today was to be paid immediately, this was made in the full knowledge that it could take many months to actually realise the sale of many of these assets. There is an 8 year default sentence, which means that if I do not co-operate and pay nothing at all, then the prosecution can apply for the imposition of the default sentence. However as the prosecution already has a Restraint Order over the assets – the situation of my not co-operating or paying will not arise.

“However, an issue arises if my Restrained Assets are sold, and the total realised from the sale does not equal the amount in the Order, then the Prosecution can still apply for part of the default sentence to be applied, but they could only ask for a sliding scale reduction of the 8 years default sentence based on the amounts that remain outstanding. If such an application were to be made it would be vigorously contested. In the normal course of events any talk of a default sentence would normally be stayed until any outstanding Appeal has been concluded.

“The Judge in this case has appears to have cast aside any pretence of impartiality and has made an Order which is both wholly unrealistic and unrealisable. He has completely disregarded any arguments, evidence or expert witnesses in my favour. It was apparent during these last two days that he has forgotten many of the important elements of the case which is unsurprising as it is almost two years since the case was concluded. It has taken him two years to write this Judgment and in the interim he has presided over hundreds of cases, but I refuse to make excuses for him.

“At this point in time words fail me and so the question for me as I take my case to the Court of Appeal, is, if I continue to believe that I may finally get some Justice, is this the definition of madness? I know one thing for sure, that if I do not go to the Court of Appeal to contest this outrageous Order then my people will definitely say that I am a madman”.

UK court out to persecute Ibori —Group

A socio-political group, Rescue Nigeria Economy Project, on Friday, faulted the ruling on the confiscation from former Delta state governor, Chief James Ibori.

The group, in a statement by its Executive Secretary, Dennis Alamu-George, alleged that the UK government, through Judge Tomlinson was not keen on seeking justice but persecution of Ibori.

According to the group, it has never happened in the history of confiscation orders to ask for immediate payment as Judge Tomlinson ordered.

The statement reads: “For us, this is a very complex and complicated persecution. We have been following the matter between Ibori and the UK government and we strongly believe the issue goes beyond acts of corruption as the UK government wants the world to believe.

“If you recall, when Ibori was to be released in December 2016, the Home Office made an application that he should be electronically tagged and subjected to strict curfew conditions. However, the application was rejected by Justice May who described the Home Secretary’s attempts to detain Ibori as quite extraordinary. While condemning the actions of the Home Office and ordering Ibori to be immediately freed from prison, Mrs Justice May said: ‘You don’t hold someone just because it is convenient to do so and without plans to deport them’.

“The judge also accepted arguments that the home secretary was attempting to misuse her immigration and deportation powers. In the recent case, we unequivocally reject the order by the court that Ibori should make payments immediately or be jailed. By the judgment, Judge Tomlinson is trying to railroad Ibori into making payments. That to us, is abuse of fair hearing. He has promised to appeal the ruling up to the Supreme Court level in UK. That fundamental rights should be respected.

“The circumstances surrounding his incarceration in 2012 is still being debated by his people who see him as the defender of their interests in the Niger Delta, especially on the issue of resource control. There are also interviews in which some have claimed his trial is politically motivated.

“Nigerians should stop being a lynch mob. They should calm down and let justice take its course. We back Ibori on his decision to appeal the judgment. If he is guilty, let the highest courts in UK decide. Judge Tomlinson cannot be the Alpha and Omega in a case he himself described as very complicated.

“We implore the Nigerian government to assert its right as an independent nation and stand by her citizens, especially those who are being unnecessary victimised and oppressed by the so-called western nations. In this matter, the government should support Ibori’s decision to seek redress in the highest courts in the United Kingdom.

“This is just the beginning of long years of litigations to come before any conclusions can be reached. We are fully in support of Ibori’s decision to appeal. Our hope is justice will prevail eventually.”

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Man Arrested Over Alleged Rape, Killing of Young Girl in Imo

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The suspect
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A man reportedly from Uburu in Ebonyi State has been arrested in Ikpeze, Okigwe Local Government Area of Imo State, over the alleged rape and killing of a young girl from the Onuoha family.

According to reports, the suspect allegedly raped the girl before killing her and dumping her body in a nearby bush.

The incident has sparked concern among residents, with many calling for a thorough investigation to establish the circumstances surrounding the young girl’s death and ensure that justice is served.

The identity of the suspect and other details surrounding the incident have yet to be fully disclosed.

As of the time of filing this report, the Imo State Police Command had yet to issue an official statement on the incident.

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Further details are expected as investigations progress.

UPDATE: Young Woman Umuora Mmesoma, Reportedly Killed by Ex-Boyfriend in Anambra, Buried

Meanwhile, Umuora Mmesoma, a young woman reportedly killed by her former boyfriend in Uga, Anambra State, has been laid to rest.

Mmesoma was reportedly declared missing on Friday, October 16, 2026, before her body was later discovered.

According to accounts circulating on social media, her former boyfriend, identified as Chima, allegedly killed her following the end of their relationship.

The suspect reportedly confessed to the crime, claiming that he killed Mmesoma in his house, placed her body inside a bag and dumped it at another location.

Her burial has left family members, friends and loved ones mourning the tragic loss of a young life.

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Binance Halts Withdrawals After Reported $6.3bn Crypto Hack

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Founder Changpeng Zhao told customers their ‘funds are safe!’ after a cyber attack on the crypto exchange © Eric Piermont/AFP
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Binance, the world’s largest cryptocurrency exchange, has temporarily suspended deposits and withdrawals following a major security breach reportedly involving about $6.3 billion in digital assets.

The exchange said its preliminary investigation indicated that an attacker may have gained unauthorised access to its systems through a compromised laptop belonging to an engineer.

In a statement released on Thursday, Binance disclosed that it was working with blockchain intelligence firms, cryptocurrency issuers and law enforcement agencies to investigate the incident and recover the affected assets.

“The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with $3 billion frozen on-chain so far,” the company said.

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Binance explained that its initial findings suggested the attacker had compromised a DevOps engineer’s laptop, potentially enabling access to a service container through which unauthorised withdrawal transactions were submitted.

However, the exchange said it had found no evidence that private keys, which provide access to cryptocurrency wallets, had been exposed.

The company subsequently suspended deposits and withdrawals while its security team conducted checks and worked to contain the incident.

“Our teams are aware of reports of a potential security issue and are actively investigating. User funds are completely safe,” Binance said in a post on X.

North Korean Hackers Suspected

Blockchain intelligence firm TRM Labs has linked the incident to TraderTraitor, a cybercrime operation associated with North Korean hackers.

If the reported losses are confirmed, the incident would rank as the largest cryptocurrency theft on record, surpassing the $1.5 billion cryptocurrency theft from the Bybit exchange in 2025, which was attributed to North Korean hackers.

However, investigations into the Binance incident are ongoing, and the full circumstances surrounding the attack have yet to be conclusively established.

The incident has renewed concerns about the vulnerability of cryptocurrency platforms to cyberattacks, particularly those involving compromised employee devices and unauthorised access to internal systems.

Tether, Circle Freeze Funds

Major cryptocurrency companies have moved to limit the potential losses by freezing digital assets believed to be connected to the incident.

Tether Chief Executive Officer Paolo Ardoino said the company had frozen approximately $1.5 billion in USDT, its dollar-linked stablecoin.

Circle, the issuer of another major stablecoin, also reportedly froze about $800 million in assets amid reports of a potential security breach at Binance.

Binance said the amount of frozen funds could increase as investigators and industry partners continue tracing transactions across different blockchain networks.

The exchange is working with relevant stakeholders to identify the movement of the affected assets and prevent further transfers where possible.

Bitcoin, BNB Prices Fall

The reported security breach triggered a negative reaction in the cryptocurrency market, with major digital assets recording significant declines.

Bitcoin fell by approximately four per cent to $77,229 in the hours following reports of the incident.

BNB, the native token of the blockchain ecosystem developed by Binance, also dropped by about 7.5 per cent.

The price movements reflect investor concerns about the potential consequences of a major security incident at a leading cryptocurrency exchange.

Binance, which was established in 2017, reportedly holds approximately $140 billion in digital assets, making its security arrangements and ability to protect customer funds significant to the wider cryptocurrency industry.

CZ Says Customer Funds Should Be Covered

Binance co-founder and former chief executive, Changpeng Zhao, popularly known as CZ, also commented on the incident.

Although he stepped down from management of the exchange in 2023 following a settlement with United States authorities over anti-money-laundering compliance failures, Zhao said he expected customer funds to be protected.

As a shareholder, he expressed confidence that users would not ultimately bear the financial losses associated with the incident.

Binance has also indicated that it would cover eligible customer losses using its own resources, including its Secure Asset Fund for Users (SAFU), an emergency fund established to provide an additional layer of protection for customers.

The company’s final assessment of the losses and the extent of customer exposure will depend on the outcome of the ongoing investigation.

Polymarket Reports Separate Security Incident

The Binance incident emerged just hours after Polymarket, a popular prediction market, reported a separate security issue involving one of its third-party service providers.

Polymarket temporarily suspended trading after discovering that the provider had been compromised, potentially exposing some users to unauthorised activity involving their accounts.

The platform said it had referred the matter to law enforcement and promised to compensate affected users.

The two incidents have raised fresh questions about the security of cryptocurrency trading platforms and the risks associated with third-party technology providers.

In recent years, cryptocurrency exchanges and decentralised finance platforms have repeatedly been targeted by hackers seeking to exploit vulnerabilities in software, digital wallets and internal security systems.

Crypto Industry Faces Growing Security Threats

The reported Binance breach comes amid continuing concerns over cryptocurrency theft and the growing sophistication of cybercriminal operations.

According to blockchain analytics firm Chainalysis, North Korean-linked hackers stole approximately $2 billion in cryptocurrency in 2025, representing a 50 per cent increase from the previous year.

In another major incident, hackers reportedly stole about $280 million from the Drift cryptocurrency exchange in April.

The latest developments have highlighted the importance of stronger cybersecurity controls, effective monitoring of employee devices, rapid detection of suspicious transactions and cooperation between cryptocurrency companies and law enforcement agencies.

For Binance, the immediate priority remains containing the incident, tracing the affected funds and establishing the full extent of the losses.

The company is expected to release a detailed technical report after completing its investigation and verifying the facts surrounding the breach.

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Tinubu Arrives in Saudi Arabia for Umrah, Set to Return Next Week

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President Bola Ahmed Tinubu has arrived in Saudi Arabia to perform Umrah, the Islamic lesser pilgrimage, as part of a religious visit to the Kingdom.

Tinubu arrived at the King Abdulaziz International Airport in Jeddah on Thursday evening, where he was received by Nigeria’s Ambassador to Saudi Arabia, Yakubu Gambo, and the Saudi head of royal protocol, Ahmad bin Thafir.

The President is expected to proceed to Makkah, the holy city where Muslims from across the world gather to perform the religious rites associated with Umrah.

According to the travel schedule, Tinubu is expected to return to Nigeria next week after completing the pilgrimage.

Umrah is a voluntary Islamic pilgrimage that can be undertaken at any time of the year, unlike Hajj, which takes place during a specific period in the Islamic calendar. The religious exercise involves a series of rites performed in Makkah and is regarded by Muslims as an opportunity for spiritual reflection, repentance and seeking Allah’s blessings.

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The visit marks another religious journey by the President since assuming office on May 29, 2023.

Tinubu previously visited Makkah in November 2023, shortly after participating in the Saudi-African Summit in Riyadh, the Saudi Arabian capital. During that visit, he also performed Umrah and sought divine guidance for his administration and the affairs of Nigeria.

His latest trip comes as his administration continues to grapple with major national issues, including economic reforms, the cost of living, security challenges and efforts to stimulate investment and economic growth.

Although the visit is primarily religious, it also highlights the President’s continued engagement with Saudi Arabia, an important partner for Nigeria in areas such as energy, trade, investment and religious affairs.

Since taking office, Tinubu has undertaken numerous foreign trips involving bilateral meetings, multilateral summits, investment engagements and diplomatic visits across several continents.

The frequency of presidential foreign travel has also generated public discussion about the costs, benefits and outcomes of overseas engagements, particularly at a time when Nigerians are concerned about economic hardship and the need for improved living standards.

The Presidency has consistently maintained that international engagements are intended to strengthen Nigeria’s diplomatic relations, attract investment and advance the country’s economic and strategic interests.

Tinubu’s return next week is expected to mark the conclusion of the religious visit, after which he is expected to resume his presidential responsibilities in Nigeria.

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