James Ibori, a former governor of one of Nigeria's oil-producing states, has pleaded guilty in a UK court to 10 counts of money-laundering and conspiracy to defraud.
British police accuse him of stealing £250m ($400m) over eight years.Mr Ibori, once seen as one of Nigeria's wealthiest and most influential politicians, was arrested in 2007.
He was then freed, before being re-arrested in Dubai on a British warrant in 2010 and then extradited.
In 2007, a UK court froze assets allegedly belonging to him worth $35m.
His annual salary as Delta state governor was less than $25,000.
Under Nigeria's federal system, state governors enjoy huge powers and control budgets larger than those of many West African countries.
He is due to be sentenced on 16 April.
Source: BBC NEWs
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