Unconfirmed reports indicates that former Nigerian head of state , Gen Ibrahim Badamosi Babangida has allegedly returned ‘part’ of $12.4bn Gulf oil windfall money.

According to a source within the presidency, the retired gap tooth general “secretly returned the money this weekend to the nations coffers”.

Though our source could not elaborate on the details surrounding the sudden action of the retired Minna general.

Daily Onus recalled that a Federal High Court in Abuja has dismissed the suit filed by civil society groups against the Attorney General of the Federation, AGF, and the Central Bank of Nigeria, CBN.

The presiding judge, Gabriel Kolawole, delivered the ruling on Thursday November 29 2012 in Abuja. The judge averred that the applicants lack the locus standi to institute the case.

Mr. Kolawole however said the plaintiffs should not be seen as busy bodies but patriotic citizens.

Six civil society groups, including the Socio-Economic and Accountability Project (SERAP), sued the Attorney- General of the Federation (AGF) and the Central Bank of Nigeria (CBN) over the much publicised $12.4 billion oil windfall, which the country recorded between 1988 and 1992, while former military dictator, Ibrahim Babangida, was in power.

The groups wanted the court to compel the government to release a report of a probe panel headed by Pius Okigbo which probed the spending of the money by the government.

The Federal Government raised many arguments against the suit including: that the report was missing, only the AGF could demand for such a report, and the court had no jurisdiction to entertain the suit.

Former president Olusegun Obasanjo was reported to have returned $200 millions to the federation account, If Babangida’s case is finally confirmed he will be the second ex-president to have returned looted money back to Nigeria.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.