Nigeria, Nov. 4 -- The UK Court of Appeal has dismissed former Edo State Governor James Ibori's appeal against a £101.5 million confiscation order linked to proceeds of crime.

In a judgement delivered on Tuesday, the court rejected Mr Ibori's argument that it was disproportionate to adjust the value of money held in frozen bank accounts for inflation when calculating the amount he must forfeit.

The three-member panel, comprising Justice Andrew Popplewell, Justice Simon Bryan and Judge Nicholas Dean, held that the inflation adjustment was justified under the applicable confiscation law.

Mr Ibori, previously convicted of fraud and money laundering charges in the United Kingdom, had sought to reduce the order by about £4.3 milli...