By Abdulwahab Abdulah

As the Federal Government expressed its desire to probe past acts of corruption, the Socio-Economic Rights and Accountability Project (SERAP) has urged the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN) to revisit the unresolved case of the missing $12.4 billion oil windfall between 1988 and 1993.

In an open letter to Malami, SERAP said the request was in line with the provisions of Section 174 (1) of the Constitution of Nigeria 1999, and sections 104 – 106 of the Administration of Criminal Justice Act.

SERAP noted that the Federal Government had in 1994 set up the Pius Okigbo Panel to investigate the activities of the Central Bank of Nigeria 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.

Requesting the AGF to establish the truth about what exactly happened to the public funds reportedly spent between 1988 and 1993 by the then military government, the body noted that reopening the case would send a clear message that cases of high-level official corruption would not go unpunished.

The letter signed by SERAP’s Executive Director, Adetokunbo Mumuni, urged Mr 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.”

It noted: “SERAP has for many years sought explanations and official release of the 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.”

It added that: “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.”

It argued that re-opening the issue “would serve as a litmus test for the government of President Muhammadu Buhari’s commitments to transparency, accountability and the fight against corruption in the country.”

The group said probing the missing fund would contribute to ending impunity of high-ranking public officials for large scale corruption and provide effective remedies to victims of corruption.