Again, judge postpones ruling on $12.4bn gulf oil windfall

Former Military President, Ibrahim Babangida

The judge apologised for the postponement.

Nigerians will have to wait another week to know if Civil society groups have the right to know how $12.4 billion gulf oil windfall was spent by the Federal Government under former Military dictator, Ibrahim Babangida, following the adjournment of a suit over the money.

Gabriel Kolawole, presiding judge of the Federal High Court, Friday morning, postponed the delivery of judgement on the matter to November 29.

The judge apologised for the adjournment, which is one of many previous adjournments in the suit.

A group, the Socio-Economic and Accountability Project (SERAP), and five others 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 plaintiffs also asked the court to make an order compelling the CBN and the AGF to publish detailed accounts relating to the spending of the sum of money between 1988 and 1994. They also sought for an order of the court compelling the respondents to diligently and effectively bring to justice anyone suspected of corruption and mismanagement of the sum; as well as the release the official copy of a probe into the spendings by a committee set up by the government and headed by Pius Okigbo.

The Federal Government argued, among others, that it could not find an official copy of the probe report and that “only the AGF as a defender of public interest has the right to seek information on the spending of the $12.4 billion oil windfall.”

More details later…


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