Probe Babangida for $12.4bn Oil Windfall – SERAP


Gen. Ibrahim Babangida. Picture Source /
Gen. Ibrahim Babangida. Photo/

The Socio-Economic Rights and Accountability Project (SERAP), a civil rights advocacy group, has asked the Attorney General of the Federation of Nigeria and the Minister of Justice; Abubakar Malami (SAN) to re-open the pending case against former head of state, Gen. Ibrahim Babangida.

Ibrahim Badamasi Babangida, also known as IBB, is a retired Nigerian Army General who was President of Nigeria under military rule. He ruled Nigeria from August 27, 1985, when he overthrew then Major General Muhammadu Buhari in a coup, until his departure from office on August 27, 1993.

Gen. Ibrahim Babangida’s military government is involved in a $12.4bn oil windfall scandal. SERAP said the money was used between the years 1988 to 1993 and the group urged the attorney general to invoke the power of his office under section 174(1) of the constitution and section 104-106 of the administration of criminal justice act to investigate the matter and prosecute anyone involved.

SERAP made the appeal through an open letter by its Executive Director; Adetokunbo Mumuni, the letter reads:

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. 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.”

The letter was sent to the office of the attorney general on Sunday.