Politics
Illegal oil deals: FG to expose officials behind $69bn loot in US banks
The Federal Government says it has begun gathering evidence on government officials linked to the alleged looting of $69bn (N28.3tn) stashed in various bank accounts in Texas, the United States.
The loot reportedly accrued from illegal oil deals involving some officials of the government-owned Nigerian National Petroleum Corporation and the Central Bank of Nigeria during the Goodluck Jonathan administration.
The PUNCH on Friday exclusively reported that an American assets recovery firm, Forensic Assets Investigation and Recovery Services LLC, discovered the $69bn loot.
Findings showed that the American company, FAIR, is a specialist in anti-corruption asset recovery working independently to trace and help repatriate money stashed away in foreign bank accounts and loot converted to real estate, luxury items, yachts and the money markets.
The firm, founded by a lawyer, Gary Riebschlager, comprises investigators, forensic accountants, bankers, and cyber experts who utilise Mutual Legal Agreements and global Financial Intelligence Units, Camden Assets Recovery Inter-Agency Network, Global Focus Point Network in Asset Recovery (Interpol), and the Stolen Asset Recovery Initiative of the World Bank.
In a January 2019 confidential memo to the Special Presidential Investigation Panel, FAIR said it could help the Federal Government recover the money if hired and compensated for its services.
Out of the loot, $9bn was reportedly traced to a Texas bank account allegedly belonging to the late National Security Adviser, General Andrew Azazi.
Azazi died in a helicopter crash in Okoroba, Nembe Local Government Area of Bayelsa State in December 2012 alongside the Governor of Kaduna State, Patrick Yakowa, and others.
Two months after FAIR wrote the SPIP, the latter wrote a letter dated March 18, 2019 to the President, Major General Muhammadu Buhari (retd), on the matter, explaining FAIR’s proposal.
SPIP stated that FAIR assured that the $9bn allegedly stolen by Azazi could be recovered within three to five months.
The SPIP’s letter to the President, with reference number SPIP/SH/2019/VOL.1/1, was titled, ‘American assets investigation and recovery company has traced a definite $9bn funds linked to the late Gen Azazi.’
The letter was signed by a former SPIP Chairman, Okoi Obono-Obla.
It read in part, “In January 2019, an American assets recovery company, Forensic Assets Investigation and Recovery Services LLC, sent a confidential memo to us stating the discovery of a definite total amount of $9bn in the State of Texas linked to the late General Azazi (former NSA), plus an additional huge amount in excess of $60bn from multiple sources of illegal sales of crude oil from Nigeria into the entire United States of America.
“Mr President, the confidential memo to us prompted our agency to seriously engage the US company to determine the veracity of the information, which resulted in an official invitation to them that they may visit us to further discuss and agree on steps needed to recover and return the funds to the Nigerian government.”
“Follow-up information from the Americans indicate that the definite $9bn can be recovered and returned to Nigeria within 3 to 5 months, if engaged and expense fee is provided, while compensation and charges shall be paid upon recovery. They also informed us that the major funds were stolen via the NNPC and the Central Bank of Nigeria,” the letter to the President further stated.
Following the overwhelming evidence provided by the assets recovery company regarding the $9bn and their capacity to recover and return the fund, the SPIP explained that it decided to engage the American forensic experts on a face-to-face meeting scheduled for March 29, 2019.
The panel also attached a copy of the firm’s acceptance letter to its memo to the President and sought Buhari’s approval for the planned meeting with the American company.
The memo noted, “Mr President, we intend to work together with the Americans in order to secure the recovery of the definite $9bn within 3-5 months they stated and to engage them to see and recover the larger part of the estimated $60bn-$80bn stolen from Nigeria during the oil boom. Also, to engage the NNPC and the CBN in the overall recovery of those funds in the United States.
“Our prayers to the President are: To approve the engagement of the American company to recover the funds and assets in the US and to approve the support of the visiting American firm to integrate software technology in the CBN in order to trace fraud funds.
“To approve the presence of interface offices of the Special Presidential Investigation Panel in NNPC and the CBN. Your Excellency, the immediate recovery of the identified $9bn within the stated timeframe of 3-5 months will totally eliminate borrowing to fund the 2018 budget deficit and sustain the 2019 budget.”
However, two years after the SPIP notified the President of the loot, the Federal Government was said to have not taken concrete steps to recover the money.
Also, Obono-Obla had yet to conclude the recovery process when he was removed from the panel by the President and replaced by the Solicitor-General of the Federation and Permanent Secretary, Federal Ministry of Justice, Dayo Apata.
Over 400 criminal and graft cases retrieved from the SPIP by the office of the Attorney-General and Minister of Justice were also found to have been abandoned.
However, the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), on Friday told one of our correspondents that the Federal Government had swung into action with the aim of getting adequate information on the $69bn loot allegedly hidden in American banks in Texas as well as the government officials involved.
The AGF also said the relevant bank details would be traced.
Malami’s Special Assistant on Media and Public Relations, Dr Umar Gwandu, who spoke on behalf of the minister, said the government was at the information-gathering stage and would work on verifiable information.
Gwandu said, “The government has swung into action to generate adequate information on the alleged $69bn, inclusive of the Nigerians involved, incidental bank details, and actionable intelligence to enable us to deal with the matter.
“The details of the alleged lawyers involved and what information is at their disposal can also be very helpful.
“The office of the Attorney General of the Federation works on cogent and verifiable information, not on media sensations or on speculations.”
Gwandu said the Buhari regime had the track record of repatriating stolen funds stashed in foreign accounts, saying it was one of the “visible and indelible” successes recorded by the regime.
He said, “The Office of the Attorney General has established a historical record of acting on cogent and verifiable information that has led to the recoveries of looted assets upon valid revelations that are subjected to integrity test by the assets recovery units of the office of the Attorney General of the Federation.
“The integrity test of information is not media-based but a process being conducted through the laid-down official process in compliance with the extant laws.
“One of the prime and uncompromising policies of the present administration under the leadership of President Muhammadu Buhari is the fight against corruption.”
We have nothing to say now–NNPC
Meanwhile, the Group General Manager, Group Public Affairs Department, NNPC, Kennie Obateru, told one of our correspondents that the corporation had nothing to say about the allegations.
“You know the way NNPC is run, particularly on issues like this. We don’t have anything to say about it,” he stated.
However, some officials of the NNPC who spoke on condition of anonymity, expressed doubt over the authenticity of FAIR’s findings.
“What is the entire budget of the country for a company to come up with an allegation that $69bn from illegal oil deals by NNPC was traced to American accounts?” asked an official, who requested not to be named due to the nature of the matter.
The official added, “Because somebody made an allegation does not mean that it has become a fact. Proper investigations should be done.”
Besides, as of the time of filing this report, efforts to get the reactions of the CBN, Ministry of Finance, Budget, and National Planning had yet to yield positive results.
SERAP, CACOL, SAN, lawyers call for thorough probe
However, civil rights organisations, including the Socio-Economic Rights and Accountability Project and the Coalition Against Corrupt Leaders, have called on the Federal Government to conduct a thorough probe of the alleged $69bn loot in Texas banks.
The Executive Director of SERAP, Adetokunbo Mumuni, in an interview with Sunday PUNCH, said there were certain international procedures that Nigeria could follow to recover the looted funds, adding that the money was needed in the country.
He said, “The Nigerian authorities should investigate how the money got to the said accounts and hold whoever is/are responsible for it accountable so that the money does not get finally lost.”
Also, the Executive Director, CACOL, Debo Adeniran, said no stone should be left unturned in ensuring that the loot was repatriated back to the country.
“All of us should be vigilant, the media and the anti-corruption agencies, to ensure that no stone is left unturned on this matter,” he said.
Adeniran argued that the fraud happened in the first place because institutions such as the Ministry of Petroleum Resources, Office of the Accountant General, and anti-corruption agencies did not perform their duties of monitoring the receipts and expenditures of oil revenue.
He said, “There are international protocols which the Attorney General ought to have commenced but has been reluctant to do.
“The Auditor-General, Accountant General, and the minister under who it happened must answer questions.”
Also, a human rights lawyer and former General Secretary of the Committee for the Defence of Human Rights, Malachy Ugwumadu, said it was the responsibility of the government to recover stolen funds.
He said, “The government should try to avoid the pit-holes that we have all been encountering in the efforts to recover stolen funds in the past.
“Some of those pit-holes include the lengthy period of time that it takes to recover them.
“Take a look at the (Sani) Abacha loot, do you remember when Abacha ruled Nigeria?”
The lawyer advised that the issue should be tackled at the level of diplomatic engagement so that the loot would be “almost automatically” repatriated.
Meanwhile, the Convener, Coalition in Defence of Nigerian Democracy and Constitution, Dare Ariyo-Akintoye, tackled the Buhari regime, saying it had no good reputation in dealing with foreign loot recovery firms.
He said, “Ordinarily, the Buhari administration is incapable of such recoveries, but if it can swallow its pride and seek the help of global assets recovery firms, it has a chance.”
Also, a Senior Advocate of Nigeria, Mike Ozekhome, urged the government to recover the loot and use it for the benefit of Nigeria in a transparent and accountable way.
“The government should go ahead and recover the funds. It’s Nigeria’s money and it should be recovered and used for the Nigerian people. And there must be transparency and accountability in the use of the money.
“What projects is the money being used for? How is it being used? Where will it be kept first when it comes? How much is it? There must be transparency and accountability about it,” he said.
Meanwhile, when asked if the Economic and Financial Crimes Commission would investigate the graft case, the commission’s spokesperson, Wilson Uwujaren, simply said the agency doesn’t give advance notice of its investigations.
He also declined to speak further.
The Independent Corrupt Practices and Other Related Offences Commission spokesperson, Mrs Azuka Ogugua, could not be reached for comment on Saturday.
The decision was taken during plenary on Tuesday at the Assembly complex in Dutse, the state capital, as the party continues to deal with the fallout from recent primaries.
The action comes amid a wave of suspensions across Jigawa APC following the recently conducted primary election.
Several special advisers and special assistants have already been suspended statewide over alleged anti-party activities from state level down to local government level.
Maigari, who doubles as the councillor representing Auyo Ward, was suspended after the House considered a motion by the Majority Leader, Lawan Dansure.
The motion sought disciplinary action against the lawmaker for conduct deemed harmful to party cohesion.
Moving the motion during the Assembly’s plenary session on Tuesday, Dansure urged members to support the suspension.
He said the House must act to protect the integrity of the ruling party ahead of 2027.
According to him, the actions of the Speaker of Auyo Legislative Council are detrimental to the unity, stability, and progress of the All Progressives Congress in the state.
“His actions are detrimental to the unity, stability, and progress of the All Progressives Congress,” Dansure told the House.
He argued that anti-party conduct at the grassroots level could undermine APC’s performance in future elections.
He said the House could not fold its arms while party discipline was being tested.
“Hon. Haruna Maigari is hereby suspended as Speaker of Auyo Legislative Council over alleged anti-party activities,” Dangyatin announced during plenary.
The Speaker also said the House remains committed to party discipline at all levels of governance in the state.
Dangyatin then constituted an investigative committee to look into the matter and report back within two weeks.
“The committee is expected to establish facts and recommend further action based on its findings,” he said.
The Speaker also directed the suspended lawmaker to hand over all official documents in his possession to the Deputy Speaker of Auyo Legislative Council.
He said the handover must be done immediately to ensure continuity of council business.
Meanwhile, the House also received a formal notification from Governor Umar Namadi regarding an official trip.
“The governor is billed to attend a two-day West African Rice Investment Roundtable in Accra, Ghana,” the Speaker said during the plenary session of the Assembly.
Dangyatin, who explained that the governor’s foreign engagement will hold between June 2 and June 3, 2026, added that “the governor’s participation is aimed at attracting investment to Jigawa’s rice value chain.”
By Chinedu Sabastine
Mr. Samson Chukwu Nnamani has declared that he remains the authentic governorship candidate of the Peoples Democratic Party (PDP) in Enugu State ahead of the 2027 election.
Nnamani made this known on Friday during a press briefing held at the Nigeria Union of Journalists (NUJ) Press Centre, Enugu.
Reacting to allegations that he was suspended from the party before the PDP governorship primary election, Nnamani dismissed the claim, questioning how a supposedly suspended aspirant could participate in the exercise and secure votes.
“The purported claim that I was suspended is very funny. If I was suspended as they claim, how can they attribute votes for me during their kangaroo primary,” Nnamani questioned.
Represented by his Media Director, Dr. Buchi Nnaji, the PDP chieftain said his authenticity derives from the present recognition of the Abdulrahman-led faction of the PDP by the Independent National Electoral Commission (INEC), of which he is a member.
The clarification followed the emergence of multiple claimants to the PDP governorship ticket in Enugu State.
Nnamani insisted that the party was no longer factionalised following INEC’s recognition of the Abdulrahman-led PDP leadership, noting that the panel which declared him winner where sent from their headquaters, Abuja.
Nnamani expressed gratitude to PDP leaders and supporters whom he said turned out massively on Sunday, May 24, 2026, to elect him as the party’s governorship candidate.
He pledged to reposition Enugu State through infrastructure development, job creation and people-oriented policies.
“As the Peoples Democratic Party governorship candidate in Enugu State, I remain committed to the ideals of good governance, inclusive leadership, economic development, youth empowerment, quality education, improved healthcare and enhanced security for all residents,” he said.
He added that his aspiration was to build “a greater Enugu State where opportunities abound for every citizen, irrespective of political affiliation, religion or social status.”
According to him, his administration would prioritise infrastructure development, industrialisation, support for small businesses and welfare programmes aimed at improving the lives of the people.
“We shall also review and remove policies and practices that are truncating the wellbeing, economic survival and social advancement of the citizens,” he stated.
Nnamani further called on stakeholders, party faithful, youths, women, traditional rulers and the people of Enugu State to join hands in building “a united, peaceful and progressive state.”
“Together, we can achieve the Enugu of our dreams,” he added.
The Presidency has reacted following the circulation of an alleged WhatsApp voice note in which President Bola Tinubu reportedly claims he begged opposition figure Peter Obi to step down ahead of the 2027 presidential election.
The reaction came on Wednesday from Bayo Onanuga, the Special Adviser on Information and Strategy to the President.
Onanuga condemned the audio file, labeling it a fabrication and called for legal action against popular social media critic VeryDarkMan who shared it.
“This VDM needs to face the weight of the law for being the conveyor and disseminator of a fake audio of President Tinubu. This is a clear case of an egregious abuse of the social media platform.,” Onanuga tweeted.
In the viral video, VeryDarkMan used the alleged leaked audio to urge Nigerians to vote against President Tinubu’s reelection bid in the upcoming 2027 polls.
Recall that just days ago, on Saturday, May 23, 2026, President Tinubu secured the presidential ticket of the All Progressives Congress (APC) in a landslide nationwide direct primary election.
During that contest, Tinubu faced a lone challenger, Edo State businessman and APC chieftain Stanley Osifo. The President won with 10,999,162 votes from the 12,643,306 registered party members, while Osifo secured 16,503 votes.
Meanwhile, Peter Obi, who finished third in the 2023 election, is widely expected to fly the flag for the Nigerian Democratic Congress (NDC). Both Obi and Tinubu hail from the southern region of Nigeria and are set to face last year’s runner-up, Atiku Abubakar, who is expected to lead the ticket for the African Democratic Congress (ADC).
The governorship candidate of the People’s Democratic Party in Ebonyi State, Ifeanyichukwuma Odii, has accused Governor Francis Nwifuru of running the state like a personal family business.
Odii made the remark shortly after emerging as the PDP governorship candidate for the 2027 election following the party’s primary election conducted across the 13 local government areas of the state.
Speaking to party supporters in Abakaliki, Odii said the 2027 election would be about rescuing Ebonyi from poor governance and restoring economic growth and public welfare.
“Ebonyi can never be consumed. Ebonyi can never be conquered. Ebonyi can never become a personal family business, and we are here for the rescue of our dear state,” he stated.
The PDP flag bearer pledged to improve the welfare of civil servants and teachers while promising policies aimed at reviving the state’s economy.
Odii also dismissed fears over political opposition ahead of the election, insisting that his focus remained the development and progress of Ebonyi State.
By Okey Maduforo Awka
The trio of Sen Stella Odua, Chief Dozie Nwankwo, Chief Chinedu Obidigwe among others emerged winners of the All Progressives Grand Alliance( APGA) primary elections in Anambra state.
Odua emerged as Senatorial candidate for Anambra North District, Dozie Nwankwo was nominated as candidate for Anambra Central District while Chinedu Obidigwe won the nomination for Anambra East and West Federal Constituency
Similarly Chief Emma Nwachukwu, Chief Paschal Agbodike, Mrs Mourine Gwacham were returned by the party members for the second term as candidates of the party for Anambra South District , Oyi -Ayamelum as well as Ihiala Federal Constituencies.
In a joint press briefing of the National Assembly and State Assembly Committees Mr Agunzi Victor (SAN) , described the exercise as transparent, peaceful and seemless adding that both the winners and aspirants who did not win appreciated the peaceful process.
Both Committees lauded the National leadership for creating a conducive environment for them to discharge their duties .
‘We will have to specifically commend the National leadership of our party and the Governor of Anambra state who is the National leader of our great party for providing the conducive atmosphere and also making the entire exercise free and credible devoid of any interference ”
“He has indeed demonstrated that he is a true democrat and we commend him for that and we hope that other leaders would emulate his attitude”
“He allowed us the member of the Committees to carry out the process that the winners of the primary elections reflect the wished of the members of the party”
In the case of Awka North and South Federal Constituency the committee had reasons to reschedule seven ward elections two in Awka North and five in Awka South local government areas as well as Dunukofia Njikoka Anaocha Federal Constituency.
“We have reasons to reschedule the supplementary primary elections across some wards within the state”
“We had supplementary elections in some wards in the Anaocha -Dunukofia – Njikoka Fed Constituency and Chinedu Oli was nominated ”
“We had another one within Awka North and South we had reason to hold supplementary elections within Awka North and South which led to the nomination of Chief Obi Nwankwo”
“Two in Awka North and five in Awka South”
“,In the case of Awka North and South Federal Constituency there is a provision in our party guideline they after the completion of the election there are places that election could not hold due to one reason or the other, we are to reschedule the another supplement election. so as to determine the winner within that Constituency”
“In this case the margin of wining after the first primary election of 23rd was quite lesser than the number of registered members within these seven wards ”
“Because the margin we had was about 200 votes but registered members of the party that did not vote is over 4,000 in those wards ”
“Proceeding with the results will amount to denying them the right to vote and the All Progressives Grand Alliance is determined to ensure that no member of our party is disenfranchised “he said.
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