Former Chairman of Nigeria’s Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) during President Muhammadu Buhari administration, Okoi Obono-Obla, has accused the administration of gross inaction regarding the recovery of an estimated $69 billion allegedly linked to stolen crude oil proceeds in a Texas-based bank account.
Obono-Obla made the revelation during Mic On Podcast by Seun Okinbaloye, citing a letter received from an American law firm detailing the illicit funds.
Expressing frustration over the lack of decisive action, he lamented, “I informed the president, expecting action to recover such colossal sums, but to date, nothing has been done.”
Highlighting the discouraging response from Nigerian authorities, Obono-Obla disclosed, “I wrote to the Attorney General (Abubakar Malami, SAN) seeking support, only to be met with sarcasm. When I mentioned recovering $69 billion, his response was dismissive.”
Reflecting on his tenure overseeing SPIP, Obono-Obla criticised what he described as systemic failures in addressing corruption allegations.
“Despite presenting concrete evidence and initiating legal processes, many cases stagnated without resolution,” he said with a note of disappointment.
Okoi Obona Obla also claimed that over 200 hundred million pounds was found in an offshore account that belongs to a former military governor who was then senate president (whom many have assumed to be senate president David Mark)
The accusations have reignited scrutiny over Nigeria’s efforts to combat corruption and reclaim misappropriated public assets during President Buhari’s tenure.
SPIP was established in 2017 to investigate and recover embezzled funds.
Critics argue that such allegations underscore persistent challenges in Nigeria’s anti-corruption campaign and emphasise the need for stronger measures to ensure accountability and transparency in public governance.
As debates intensify, questions loom over the fate of the alleged $69 billion and the government’s commitment to addressing such serious allegations of financial misconduct.
