
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.
Politics
N10m To Councillors: Arrest Wike Now, Ex Niger Delta Spokesperson

A former spokesperson of the Pan Niger Delta Forum (PANDEF), Chief Anabs Sara-Igbe, has called on the Department of State Services (DSS) and the Economic and Financial Crimes Commission (EFCC) to arrest and investigate the Minister of the Federal Capital Territory (FCT), Nyesom Wike, over his reported pledge of N10 million to each of Rivers State’s 319 councillors for delivering their respective wards to President Bola Tinubu in the 2027 general election.
Sara-Igbe described the alleged pledge as a threat to the integrity of Nigeria’s electoral process, insisting that Wike’s position as a serving minister should not shield him from investigation.
Wike, a former governor of Rivers State, reportedly made the promise during a media chat last week, urging the councillors to ensure that President Tinubu wins their respective wards in the 2027 elections in exchange for N10 million each.
With 319 councillors representing the state’s 319 wards across 23 local government areas, the proposed financial commitment would amount to N3.19 billion if fully implemented.
Speaking in an interview with The Southern Examiner, Sara-Igbe questioned why the FCT Minister had not been invited for questioning by security agencies and the Independent National Electoral Commission (INEC) over the reported statement.
He argued that the alleged pledge raised serious concerns about compliance with electoral laws, particularly provisions relating to financial inducements and electoral malpractice.
“We are not in a banana republic where anything goes, no laws. Our security personnel must prove to Nigerians and the entire world that our laws are not implemented haphazardly, depending on who is involved,” he said.
The Kalabari elder also criticised INEC for what he described as its silence over the matter, insisting that electoral regulations must apply equally to all Nigerians, regardless of their political influence or official positions.
Sara-Igbe, who acknowledged that Wike was once his close associate, said Nigeria’s democracy could only develop when citizens rejected injustice, unfairness and inequality.
He warned that political statements capable of encouraging financial inducements could undermine public confidence in the electoral process.
“Utterances such as the one Wike spewed out from his mouth could truncate our hard-won democracy and expose our nation to public ridicule. This is why the matter should not be swept under the carpet. Wike must be made to pay for such an unguarded statement,” he added.
Meanwhile, Sara-Igbe denied allegations that he was involved in instigating the renewed political disagreement between Wike and Rivers State Governor, Siminalayi Fubara.
He also dismissed claims that his position was motivated by ethnic considerations, maintaining that his disagreement with Wike was based on political principles and what he described as the need to protect Rivers State’s interests.
He accused Wike and his supporters of attempting to undermine Fubara’s administration, arguing that the governor should be allowed to exercise his constitutional mandate without undue political interference.
Sara-Igbe further disclosed that his political position informed his decision to support the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, and the party’s Rivers State governorship candidate, Chief Dumo Lulu-Briggs, ahead of the 2027 elections.
He described Lulu-Briggs as a candidate with the capacity to pursue economic development in the state, highlighting proposals to decongest Port Harcourt, develop other urban centres such as Ahoada, Omoku and Bori, and harness Rivers State’s tourism potential.
He also criticised the Rainbow Coalition over what he described as the introduction of ethnic considerations into the search for an APC governorship candidate in Rivers State.
Politics
2027: INEC Fixes November 28 For Nationwide Mock Presidential Election

The Independent National Electoral Commission (INEC) has fixed November 28, 2026, for a nationwide mock accreditation and voting exercise ahead of the 2027 general elections.
The exercise is aimed at testing upgrades to the commission’s Bimodal Voter Accreditation System (BVAS) and electronic results transmission ahead of the polls.
The development comes as INEC disclosed that it had commenced the distribution of non-sensitive election materials to some states in preparation for the 2027 general elections.
INEC Chairman, Prof. Joash Amupitan (SAN), announced the planned mock exercise on Thursday during a dialogue at Chatham House in London.
The event, organised in partnership with the Kimpact Development Initiative, was themed, “Nigeria’s 2027 Elections: Democratic Trajectory and Regional Stability Beyond the Ballot.”
According to a statement issued in Abuja and signed by the Chief Press Secretary and Media Adviser to the INEC Chairman, Adedayo Oketola, Amupitan said the exercise would simulate the presidential election and enable the commission to assess the efficiency of its accreditation and electronic results transmission systems.
“On the 28th of this month, we will conduct a mock accreditation and voting exercise across all states of the federation to simulate the presidential election and verify that we have gotten both accreditation and electronic result transmission right,” the INEC chairman said.
Amupitan also disclosed that the commission had introduced additional technical safeguards to prevent inaccurate polling unit results and figures indicating over-voting from being uploaded to its Result Viewing Portal.
He said the measures were part of efforts to strengthen the credibility, transparency and reliability of the electoral process ahead of the 2027 general elections.
Politics
Barr Emeka Okafor Rallies Igbo Voters in Ondo State During APC Campaign Rally


The Deputy National Organising Secretary of All Progressives Congress, Chief Emeka Okafor Esq, has called on Voters of Igbo Extraction living in Ondo State to come out in their numbers and vote massively for APC and President Bola Ahmed Tinubu on 16th of January 2026.
Chief Emeka Okafor made the call in Akure during the All Progressives Congress Presidential Campaign Rally which took place in Akure, Ondo state.
The Deputy National Organising Secretary stated that South East and Ndi Igbo have benefitted massively from the administration of President Bola Ahmed Tinubu and All Progressives Congress. He opined that President Bola Ahmed Tinubu meant well for the Country and the President’s reform is yielding the necessary results.
Barr Emeka Okafor stated that Ndi Igbo has always been part of National Party. “Being with the Party at Centre has always been beneficial to Ndi Igbo and 2027 will not be an exception. He urged Igbo Voters in Ondo to support APC and Mr President’s re-election bid.
The chieftain also urged stakeholders to support all APC candidates for the National and State Assemblies in the forthcoming elections, saying party members must work hard to deliver the desired results.
Barr Okafor made the appeal as He joined the Vice President Kashim Shettima, Senator Abdulaziz Yari, other APC leaders and stakeholders at the party’s campaign rallies in Akure, the Capital of Ondo state.
Politics
2027 Elections: INEC Raises Alarm Over ‘Rig And Die’ Slogan, Warns Of Impending Violence

The Independent National Electoral Commission (INEC) has cautioned political actors against the use of the controversial slogan, “Rig and Die”, ahead of the 2027 general elections, warning that such inflammatory rhetoric could trigger electoral violence and endanger innocent lives.
The Commission also warned that electoral officials, including ad hoc staff, who compromise the integrity of elections would face prosecution in accordance with the law.
INEC National Commissioner and Chairman of its Information and Voter Education Committee, Mohammed Kudu Haruna, gave the warnings during a media engagement forum for journalists and media executives from the South-East, South-South and South-West geopolitical zones held in Enugu.
Haruna expressed concern over the increasing use of inflammatory political statements and threats, noting that such utterances could put the lives of presiding officers, electoral ad hoc personnel, party agents and election observers at risk.
He urged political parties and their supporters to embrace peaceful participation, stressing that grievances arising from election outcomes should be addressed through established legal channels, including INEC, security agencies and the courts, rather than through violence.
The National Commissioner also called for stronger collaboration between INEC and the media to promote credible, peaceful and transparent elections in 2027.
He described the media as an indispensable partner in the electoral process, noting that public confidence in elections depended largely on accurate, balanced and professional reporting.
Haruna warned journalists against publishing unverified results, manipulated videos, misleading projections and sensational political narratives capable of misleading the public and undermining confidence in the electoral process.
He specifically cautioned against premature result announcements, insisting that only INEC, through its duly appointed returning officers, had the authority to declare election results.
“Results are declared only by the Commission through its duly appointed returning officers. Projections and unofficial figures must be clearly labelled as such,” he said.
He further advised media organisations to verify allegations against the Commission through appropriate channels before publication and exercise caution when reporting electoral incidents.
Haruna also advocated inclusive election coverage, urging journalists to give adequate attention to women, youths and persons with disabilities, particularly the challenges affecting their participation in the electoral process.
He encouraged media organisations to intensify voter education on Permanent Voter Cards (PVCs), accreditation procedures, electronic transmission of results and peaceful participation.
Journalists Urged to Uphold Professional Ethics
In a separate presentation on ethical and professional standards in election reporting, resource person, Mr Osaretin Imahheyierobo, urged journalists to familiarise themselves with the Electoral Act 2026, INEC’s election coverage guidelines and the Nigerian Broadcasting Code.
He expressed concern that some journalists covering elections were not sufficiently conversant with the legal and regulatory frameworks governing electoral reporting.
Imahheyierobo urged media organisations to establish dedicated election desks, develop editorial guidelines and strengthen fact-checking mechanisms ahead of the 2027 polls.
He also stressed the need for journalists to understand INEC’s technological innovations, particularly the Bimodal Voter Accreditation System (BVAS) and the INEC Result Viewing Portal (IReV), to ensure accurate reporting of accreditation, voting and result-management processes.
He warned media practitioners against compromising professional ethics for financial inducements, commonly referred to as brown envelopes. He maintained that political candidates should be subjected to objective scrutiny rather than having their claims and manifestoes amplified without proper examination.
The resource person also called for equitable media coverage of all political parties and candidates, noting that voters relied on credible information to make informed electoral decisions.
Earlier, the Enugu State Resident Electoral Commissioner (REC), Dr Chukwuemeka Chukwu, disclosed that INEC had received approximately 35,000 Permanent Voter Cards for distribution across the state’s 260 wards.
He appealed to journalists to support public enlightenment campaigns to ensure that eligible voters collected their PVCs ahead of the 2027 general elections.
Chukwu described the media as a strategic partner in voter education, public opinion formation and institutional accountability, warning that misinformation could erode public confidence in the electoral process.
While acknowledging the media’s independence and watchdog responsibilities, the REC urged journalists to uphold accuracy, objectivity, fairness and professionalism in their coverage of electoral activities.
He assured stakeholders that the Commission remained committed to conducting credible, transparent, inclusive and peaceful elections in 2027, adding that it was open to constructive criticism and recommendations from media practitioners.
NUJ Raises Concerns Over Election Logistics
In his remarks, the Chairman of the Nigeria Union of Journalists (NUJ), Enugu State Council, Comrade Obinna Ogbuka, commended INEC for organising the engagement but regretted that the initiative had not commenced early enough to accommodate more journalists before the election cycle gathered momentum.
Ogbuka also raised concerns over the apparent lack of adequate budgetary provisions for journalists’ logistics during election assignments, stressing that media practitioners required sufficient support to perform their duties effectively.
He further called on INEC to take deliberate steps to rebuild public confidence in the Commission ahead of the 2027 elections.
Participants at the engagement commended INEC’s preparations but urged the Commission to address weaknesses observed in previous elections, particularly the technical challenges that affected the electronic transmission of results during the 2023 presidential election.
They also called on INEC to recognise journalists as critical stakeholders in the electoral process and involve them more meaningfully in its preparations for the 2027 general elections.
Politics
Wike Defends ₦10m Reward for Councillors, Insists It Is Not Vote-Buying

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has defended his promise to reward councillors with ₦10 million each for delivering their respective wards ahead of the 2027 general elections, insisting that the offer is a reward for political commitment and not an attempt to buy votes.
Wike made the clarification on Tuesday during an inspection tour of ongoing infrastructure projects in Abuja, dismissing criticisms of the proposed incentives.
He argued that rewarding political mobilisers for their hard work and electoral performance should not be confused with inducing voters to influence election outcomes.
The minister had reportedly pledged ₦10 million to each councillor who successfully mobilises support and delivers their ward, a promise that sparked concerns over the possibility of vote-buying ahead of the 2027 general elections.
Responding to the criticism, Wike said he never instructed the councillors to share money among voters in exchange for their votes. Rather, he challenged them to demonstrate commitment and deliver the expected electoral results.
“I didn’t tell them, ‘Take this money and go and buy votes.’ I said, ‘Go and work. Show commitment. Demonstrate that you really mean what you are talking about. When you win, come and we are going to reward you,’” he said.
To justify the offer, Wike compared the proposed political incentive to rewards given to athletes who win international competitions, arguing that such promises motivate people to achieve outstanding results.
He cited instances where athletes are promised houses and other benefits for returning from competitions with trophies, questioning why similar incentives in politics should automatically be considered bribery.
The FCT minister also faulted sections of the media for what he described as their failure to distinguish between legitimate performance-based rewards and vote-buying.
He argued that political parties and candidates routinely spend money on campaign advertisements without attracting similar criticism.
Wike challenged journalists to examine the distinction between financial inducements intended to influence voters and rewards promised to political organisers for meeting mobilisation targets.
Meanwhile, the minister expressed satisfaction with the progress of ongoing infrastructure projects in Abuja, including Interchange Section 2 (ISEX 2), the Southern Parkway and the S1 Road, which incorporates a fire station.
He said the projects were expected to be completed by December 15, ahead of the January 16, 2027 general elections.
Wike further argued that the infrastructure achievements of President Bola Tinubu’s administration would provide a strong basis for its re-election campaign.
He maintained that his support for Tinubu was driven by the administration’s development agenda rather than party affiliation, insisting that Nigerians who genuinely desire progress should support policies and programmes aimed at national development.
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