Court orders FG, Okonjo-Iweala to account for Nigeria’s ‘missing N30tn’

The Federal High Court in Lagos has ordered a former Minister of Finance, Ngozi Okonjo-Iweala, and the Federal Government to “provide information on the spending of the alleged missing N30 trillion which represents some accruable income to the Federal Government during the last four years of the administration of former President Goodluck Jonathan.”

The judgment was delivered last week by Hon Justice Ibrahim Buba following a Freedom of Information suit number FHC/L/CS/196/2015 brought by the Socio-Economic Rights and Accountability Project (SERAP).

SERAP’s Deputy Director, Olukayode Majekodunmi, made details of the judgment available to PREMIUM TIMES via a press statement on Sunday.

SERAP’s suit followed the claim by the former Governor of Central Bank of Nigeria (CBN), Charles Soludo, that at least N30 trillion “has either been stolen or unaccounted for, or grossly mismanaged over the last few years under the Coordinating Minister of the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala’s watch.”

Justice Buba said in the judgment, “Mrs Okonjo-Iweala and the Federal Government have no legally justifiable reason for refusing to provide SERAP with the information requested for. The Court has gone through the application and agrees that SERAP’s application has merits and the argument is not opposed. SERAP’s application is granted as prayed.”

The Court agreed with the arguments by SERAP’s deputy director, Olukayode Majekodunmi, that Mrs Okonjo-Iweala and the Federal Government “should have either supplied the information requested by SERAP or communicate her denial within seven days of receipt of the letter from SERAP if she considers that the request should be denied.”

The judgment by Justice Buba reads in part: “Preliminary objection by Mrs Okonjo-Iweala and the Federal Government is misconceived, the court upholds the arguments by SERAP for the reasons stated herein.

“SERAP commenced this proceeding by way of Originating Summons dated 23 February 2015 and filed 25 February 2015. Mrs Okonjo-Iweala and the Federal Government filed a Memorandum of Conditional Appearance, a Notice of Preliminary Objection and written address, all undated but filed on 29 September 2015.