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AGF, CBN SUED OVER $12.4B OIL WINDFALL

By NBF News
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They are seeking an order of mandamus compelling the AGF and the CBN to publish detailed statement of account relating to the spending of $12.4 billion oil windfall between 1988 and 1994, and to publish in major national newspapers a copy of the statement of account as well as an order directing them to diligently prosecute anyone suspected of corruption and mismanagement of money.

They equally want an order directing the respondents to return to the federal account any money which is the subject matter of corruption and to also direct them to provide adequate reparation, which may take the form of restitution, compensation, satisfaction or guarantees of non-repetition to millions of Nigerians that have been denied their human rights as a result of their failure to ensure transparency and accountability in the spending of the $12.4 billion oil windfall.

They similarly want a declaration that the failure of the respondents to publicly and urgently release detailed statement of account relating to the spending of $12.4 billion oil windfall between 1988 and 1994 as documented by the Okigbo panel report is illegal and unlawful as it violates Article 9 of the   African Charter.

They are asking the court to declare that failure to ensure accountability regarding the spending of the oil windfall constitutes a fundamental breach of Nigeria's international anticorruption and human rights obligations and commitments.