News
Hands-Off N12.4bn Gulf Oil Suit, AGF Tells Abuja Court
The Attorney-General of the Federation and Minister of Justice, Mohammed Bello Adoke, SAN, has approached the Abuja Division of the Federal High Court, asking it to hands off the suit seeking to expose how $12.4 billion oil money that accrued to the Federal Government between 1988 and 1994, was spent. Consequently, the judgement which had earlier been deferred for six consecutive times after all the parties had been invited to court on the excuse that there were minor typographical errors which needed correction, was once again adjourned till Thursday, November 29. The trial judge, Justice Gabriel Kolawole apologised to all the parties yesterday, saying, the judgment was not yet ready, as according to him, the AGF recently served him with a motion challenging the jurisdiction of the court to hear and determine the issues raised by the plaintiffs. Justice Kolawole said, he needed time to properly scrutinise the fresh motion by Mr Adoke with a view to incorporating it in the judgment he promised to deliver on November 29. Six civil society groups led by the Socio-Economic Rights and Accountability Project, SERAP had instituted the action under the Fundamental Rights (Enforcement Procedure) Rules 2009. Specifically, the plaintiffs had approached the court seeking “an order of mandamus compelling the respondents, individually and/or collectively, 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.” In 1994, the Federal Government under the administration of late General Sani Abacha constituted the Pius Okigbo Panel to investigate the activities of the Central Bank of Nigeria, CBN, and recommend measures for the re-organization of the apex bank. The Okigbo Panel reportedly discovered that about $12.4 billion which accrued to the country during the Gulf War and was reserved in the “Dedicated and Special Accounts,” of the CBN had been depleted to $200 million by June 1994. Following the alleged mismanagement of the money during the administration of the then Military President, General Ibrahim Babangida, the investigative Panel recommended an immediate discontinuance of the said “Dedicated and Special Accounts.’’ Though verdict on the matter was stalled since October 2011, when hearing was concluded, Justice Kolawole invited the parties in court to re-adopt the processes they filed on September 26, 2012. This was after the plaintiffs had claimed that the non-delivery of the verdict was aimed at thwarting the course of justice on the matter. Meanwhile, the plaintiffs have already filed a counter-affidavit, challenging the competence of the AGF’s motion seeking to scuttle the verdict. The AGF had contended that the plaintiffs lack the locus-standi to institute and maintain the action. SERAP had in its suit, asked the court to order the AGF to prosecute anyone indicted by the Okigbo report, as well recover and return the money to the national treasury. Besides, the plaintiffs further asked the court for an order directing the respondents to provide adequate reparation, which may take the form of restitution, compensation, satisfaction or guarantees of non-repatriation of the money to millions of Nigerians that had been denied their human rights as a result of the respondents’ failure and/or negligence to ensure transparency and accountability in the spending of $12.4 billion oil windfall between 1988 and 1994. In two separate preliminary objections by the AGF and the CBN, which was equally joined as a respondent in the suit, they urged the court to dismiss the suit in its entirety. The two defendants also asked the court to reject the Okigbo Panel’s report, saying it was not admissible in law considering that it was neither gazzetted nor a White Paper issued on it. They maintained that they could not find the Okigbo report, and had no duty to render account on the spending of the accrued revenue. The CBN insisted that the suit was non justiceable, contending that it was not covered under the fundamental rights provisions of sections 33-46 of the 1999 Constitution. The apex bank submitted that only the AGF, as a defender of public interest, had the right to seek information on the spending of the $12.4 billion oil windfall, pointing out that the plaintiffs had no such right. The plaintiffs however, countered, saying that their legal action against the government was prompted by “the failure of the AGF to carry out his duty in this respect.” They further argued that: “The diversion and/or mismanagement of the $12.4 billion oil windfall was a violation of Nigerians’ right to natural resources and wealth and to economic development, as recognized and guaranteed by 21 and 22 of the African Charter on Human and Peoples’ Rights (Ratification and Enforcement) Act)”, noting that under the African Charter, the Nigerian government has a legal responsibility to utilize the natural resources of the country to benefit the whole people. “Just as the people of every sovereign state have a permanent right to choose their form of government, so the people are entitled to insist that the natural resources of the nation are exploited in the interest of the people,” they added.
A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.
The monarch stated this in an interview at his palace in Ikuru Town, yesterday.
According to him, Nigeria would have been a developed country to set the pace in the whole of Africa, considering its numerous resources.
“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.
“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.
“If we’re able to harness all the things we have, even America by now would have respected us”, he said.
While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.
King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so far.
He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.
“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.
“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.
The monarch used the opportunity to wish Nigeria happy independence anniversary.
By: Enoch Epelle
The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.
In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.
Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.
The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.
The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.
In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.
The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.
“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.
“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”
The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.
It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.
The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.
“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.
The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.
Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.
The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the nation as it celebrates 65th independence anniversary.
Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom, gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.
Mkpoutom said it was essential to recognise that the strength of Nigeria lay in its diversity
“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.
“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.
“As Akwa Ibom embarks on another year, it is crucial for all citizens to foster a sense of unity and shared purpose.
“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving way for a brighter future for all.”
The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.
“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.
He urged everyone to contribute positively to the development of a better society.
Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.
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