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SERAP Urges FG To Probe ‘Missing’$12.4bn Oil Windfall

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The Socio-Economic Rights and Accountability Project (SERAP), has sent an open letter to the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), asking him to “use your good offices as a defender of public interest, and exercise your powers under Section 174(1) of the Constitution of Nigeria, 1999, and Sections 104–106 of the Administration of Criminal Justice Act, to re-open the unresolved case of the ‘missing’ $12.4billion oil windfall.”
The organisation asked Malami to “establish the truth about what exactly happened to the public funds reportedly spent between 1988 and 1993 by the government of former military President, Gen. Ibrahim Badamasi Babangida.”
The letter, dated August 19, 2016, and signed by SERAP Executive Director, Adetokunbo Mumuni, urged Malami to “work diligently and effectively to find and publish widely the Pius Okigbo panel report, as well as bring to justice anyone suspected of corruption and mismanagement of the colossal public funds.”
The letter reads in part: “SERAP has for many years sought explanations and official release of the Pius Okigbo panel report, which the government voluntarily established but successive governments have blocked every chance to make this happen, even claiming that the report of the panel could not be found. SERAP’s request is entirely consistent with 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 re-opening the unresolved case of the ‘missing’ $12.4billion oil windfall would serve as a litmus test for the government of President Muhammadu Buhari oft-repeated commitment 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.
“SERAP believes that Nigerians have the right to their natural resources and wealth and to economic development, as guaranteed by Articles 21 and 22 of the African Charter on Human and Peoples’ Rights (Ratification and Enforcement) Act), the rights that are being denied by the failure of successive governments to resolve the case of the ‘missing’ $12.4billion oil windfall. “The government of President Buhari has the duty to find the Okigbo panel report, and to pursue accountability on the spending of the accrued revenue. Such duty exists on the basis of Article 9 of the African Charter on Human and Peoples’ Rights, which has become part of our national laws, as well as the provisions of the Freedom of Information Act.
“Reopening the case would help 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 the failure by successive governments to ensure transparency and accountability in the spending of $12.4billion oil windfall.
“We hope that you would act swiftly in this case and do justice by reopening the case, publishing the Okigbo panel report and holding to account anyone suspected to be responsible for the missing public funds.
“SERAP notes that the Federal Government in 1994 set up the Pius Okigbo Panel to investigate the activities of the Central Bank of Nigeria (CBN) and recommend measures for the re-organization of the bank. In the course of its assignment, the Okigbo panel found that the $12.5 billion in the Dedicated and Special Accounts had been depleted to $100 million.
“The panel recommended that the Dedicated and Special Accounts be discontinued. The panel also recommended the immediate re-organization of the Central Bank of Nigeria. In line with the said recommendations, the Dedicated and Special Accounts were discontinued while the Central Bank of Nigeria was re-organized. But the truth about what exactly happened to the ‘missing’ $12.4 billion oil windfall is yet to be known,” SERAP emphasised.

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NGO-ATLANTIC-OYOROKOTO ROAD’LL UNLOCK COASTAL PROSPERITY FOR RIVERS – FUBARA

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Rivers State Governor, Sir Siminalayi Fubara, has described the ongoing construction of the brand new 13.52-kilometre Ngo-Atlantic-Oyorokoto Road as a bold and visionary effort by his administration to open up the coastal region for economic growth and harness the full potential of the state’s blue economy.

 

The Governor made this remark during an inspection visit to the project site in Andoni Local Government Area. The road, being constructed by Monier Construction Company (MCC), cuts through challenging coastal terrain and leads to a newly identified beachfront facing the Atlantic Ocean.

 

Governor Fubara explained that while the original plan was to construct a road leading to Oyorokoto Town and its popular beach, his administration decided to expand the project to create an entirely new route that would open access to another pristine beachfront.

 

“We are doing another inspection today. This particular one is a virgin road, 13.52 kilometres of a new pathway to the blue economy,” Governor Fubara stated.

 

“Initially, we were constructing a road to Oyorokoto Beach, one of the finest tourist centres in this area. But as we progressed, we discovered another beach directly facing the Atlantic Ocean. It became clear that we shouldn’t limit development to just one site. We want to harness this new beach front as part of our broader plan to develop the blue economy.”

 

The Governor emphasised that the project, once completed, will not only improve access to coastal communities but also stimulate tourism and economic activities, boosting revenue for Rivers State.

 

Describing the area’s difficult terrain as challenging, he commended the contractor for its dedication, and expressed confidence that the road would be completed and commissioned by March next year.

 

“You can see for yourself, it’s a brand-new road in a very difficult terrain, just like the one we saw yesterday. But I strongly believe we will overcome it. From what we’ve seen today, the contractor, MCC, is doing their best, and by next year, hopefully by March, we’ll have the cause to commission this project and give God all the glory,” the Governor affirmed.

 

Governor Fubara also visited Opobo/Nkoro Local Government Area to assess the progress of work on the Epellema axis of the ongoing 5.2km Kalaibiama-Epellema road project featuring a 450-meter bridge.

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FUBARA HAILS PROGRESS OF WORK ON TRANS-KALABARI ROAD

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Rivers State Governor, Sir Siminalayi Fubara, has expressed satisfaction with the level of progress recorded on the ongoing Trans-Kalabari Road project, revealing that about 75 percent of the critical piling work has been completed.

Governor Fubara made this known while addressing journalists after an on-the-spot inspection of the 12.5-kilometre road project, which will connect the state capital to several Kalabari communities across the sea.

The Governor rode on a boat from a jetty at Rumuolumeni in Obio/Akpor Local Government Area through the rivers and creeks on the project route during the inspection.

The project was awarded to Lubrik Construction Company Limited, on May 15, 2024, with an initial 32-month completion timeline.

The Governor said the visit was aimed at verifying reports from the Ministry of Works regarding the project’s advancement. He commended the contractors for their dedication, and described the progress as “a true reflection of hard work and commitment to excellence.”

“The first phase of the project takes us to Bakana, and features four major river-crossing bridges and nearly five deck-on-pile structures. The terrain is difficult, and the engineering work required is complex. But to the glory of God, I can confirm that the reports I’ve been receiving are accurate. Almost 75% of the piling job, which is the most critical part of the project, has been achieved,” Governor Fubara said.

He emphasised that the Trans-Kalabari Road is one of the most technically demanding infrastructure projects in the state due to its challenging marine terrain but reaffirmed his administration’s resolve to deliver it on schedule.

Governor Fubara highlighted the strategic importance of the road in connecting the Kalabari Kingdom to Port Harcourt, and stimulating economic growth across riverine communities.

“This is a key project that will turn around the lives of the Kalabari people immediately it is concluded. By the grace of God, in the next six months, if we return here for inspection, we might be driving across the bridge,” he said.

Governor Fubara assured Rivers people that his administration remains focused on delivering transformative infrastructure projects that will improve lives and bring lasting development to rural communities.

“We have made a promise to our people to embark on projects that will change lives and bring development, and this is a testament to that commitment,” he added.

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RSG EXPRESSES CONCERN OVER FLOODING IMPACT, EROSION

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The Governor of Rivers State, Sir Siminalayi Fubara, says that the impact of flooding and erosion on the inhabitants of Rivers State, especially those living in coastal communities, are of great concerns to the government.

 

Governor Fubara lamented the consequences of flood on both human and biotic life, which sometimes lead to loss of life, property, and degradation of the environment.

 

The Governor made the remark in Port Harcourt during the launch of a book titled, ‘Coastal Zone Flooding And Erosion in Developing Communities, Principles, Cases and Strategies,” written by Emeritus Prof. Wiston Bell-Gam.

 

According to the Governor, who was represented by the Secretary to the State Government, Hon. Benibo Anabraba, his administration, would continue to undertake and encourage adaptation strategies to combat flooding.

 

In his words: “The Rivers State Government will continue to undertake and encourage adaptation strategies, such as construction of seawalls and breakers, canals and channels, restoring coastal ecology and ecosystem for coastal resilience and where necessary, the relocation of communities on the coastline.

 

“These issues are currently receiving the much needed attention and intervention by the recent approval of the construction of shoreline protection along the coastlines of more than five communities in Ogba/Egbema/Ndoni and Opobo/Nkoro LGAs respectively.”

 

“It is important that as stakeholders in the protection and preservation of marine environment, we all act and advocate for mitigation strategies such as reduction in emission of Green House Gasses  that causes climate change and rise in sea levels. Let us promote the use of clean energy and against fossil fuel.

 

Governor Fubara further cautioned residents to desist from building on waterways.

 

“We also need to encourage our people to stop developing buildings on and along natural water courses, indiscriminate sea mining and dredging activities on our coastline without consideration for mangroves and swamps,” he stressed.

 

He appreciated the author for his advanced contributions to the body of knowledge in both Rivers State and globally.

 

Also speaking, a former Military Governor of the old Rivers State and Amayanabo of Twon Brass, King Alfred Ditte-Spiff, who was Royal Father at the Event, stated that the book was timely to enable stakeholders manage the challenges of global warming.

 

“Global warming is real. If it’s not addressed globally, a time will come coastal areas will find themselves under water. The coastline of Nigeria is shocking with many mangroves gone,” he noted.

 

The Reviewer of the Book, who is also the Vice Chancellor of Olusegun Agagu University of Science and Technology, Ondo State, Prof Temi Ologunorisa, explained that the 14-chapter book is timeous as it fills literary gaps between desire and available knowledge on coastal flood and erosion in developing communities.,

 

“A major beauty of the book that sets it apart is the detailed consideration of flood and erosion control from around the world,” he stated, adding that the book is based on detailed field investigation.

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