State prosecutor Jonathan Kinnear revealed that the total amount to be confiscated from Mr Ibori is £101.5 million, warning that failure to pay could result in a new prison sentence of five to 10 years.
After more than a decade of legal disputes, Judge David Tomlinson at Southwark Crown Court is expected to make a formal order regarding the funds on Friday or shortly after, putting an end to the long-standing case.
Mr Ibori, now 63, returned to Nigeria seven years ago after serving his prison sentence for money laundering in the UK. He has since kept a low profile and focused on political activities in the oil-rich Delta State. Recently, he made a public appearance after meetings with President Bola Tinubu at the Presidential Villa in Abuja, alongside other former governors.
In 2011, Mr Ibori was extradited from Dubai to London and faced charges of laundering a "corruptly obtained fortune." He pleaded guilty to ten counts of fraud and money laundering in 2012, receiving a 13-year prison sentence, which was hailed as a significant milestone in the fight against corruption by Britain.
The UK authorities have pledged to repatriate any funds recovered from Mr Ibori back to Nigeria. Previously, they successfully recovered £4.2 million seized from Mr Ibori's ex-wife and sister, who were also implicated in money laundering and sent to prison in 2021.