Missing $12.4bn Oil Windfall: IBB Must Face Probe, SERAP Tells FG

The Socio-Economic Rights and Accountability Project, has called on the Federal Government to reopen the unresolved case of the “missing $12.4bn oil windfall.”

In an open letter by its Executive Director, Adetokunbo Mumuni, to the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), the rights advocacy group said the request was in line with the provisions of Section 174 (1) of the Constitution of Nigeria 1999, and sections 104 – 106 of the Administration of Criminal Justice Act.

According to the group, the money was spent between 1988 and 1993 by the government of a former military dictator, Gen. Ibrahim Babangida.

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The letter read, “SERAP, has for many years, sought explanation and official release of the Pius Okigbo panel report, which the government voluntarily established. But successive administration blocked every chance to officially release the Okigbo Report with some even claiming that the report could not be found.

“SERAP’s request is entirely consistent with the established legal principle that in matters relating to crimes, including corruption, time does not run against the state.

“Reopening the case would also send a clear message that cases of high-level official corruption would not go unpunished no matter how long it takes and that suspected perpetrators would be held to account, no matter who is involved.

“SERAP also believes that reopening the unresolved case of missing $12.4bn oil windfall would serve as a litmus test for the administration of President Muhammadu Buhari often repeated commitments to transparency, accountability and the fight against corruption in the country.

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“Full accountability for the missing public funds would contribute to ending impunity of high-ranking public officials for large-scale corruption and provide effective remedies to victims of corruption.”

Recall that the Attorney General of the Federation and Minister of Justice under the Olusegun Obasanjo’s administration, Bello Adoke, had said that the federal government set up a committee to ascertain whether the criminal charge against former military president could be sustained.

Recall also that in April 2010, Babangida challenged his accusers to back their accusations with evidence.

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