Prominent human rights lawyer Femi Falana (SAN) is leading a coalition that has issued a blunt ultimatum to Nigeria’s Attorney-General: recover over $120 billion and ₦66 billion from NNPCL and oil companies — or we’ll drag you to court.
By Tom Solomon iboro
The Alliance on Surviving COVID-19 and Beyond (ASCAB), through a letter signed by Falana, has given Attorney-General Lateef Fagbemi (SAN) just 14 days to initiate legal proceedings for the recovery of what it describes as funds long owed to the Federation Account — money sitting uncollected while Nigeria continues to borrow abroad.
Where the money is allegedly coming from
The group’s case rests on existing court judgments and findings from government agencies including NEITI, the Auditor-General’s office, and the Revenue Mobilisation Allocation and Fiscal Commission — not speculation, but documented obligations that ASCAB says have simply been left on the shelf.
Perhaps the most striking allegation is that NNPCL — which holds a 49% stake in Nigeria LNG Limited on behalf of Nigerians — received over $21.5 billion in dividends from NLNG but never forwarded the money to the Federation Account, despite repeated resolutions from both chambers of the National Assembly.
ASCAB also wants the EFCC directed to pursue $29 billion linked to crude oil theft — including $12.7 billion worth of oil allegedly stolen and discharged at US ports between 2011 and 2014 — as well as the recovery of nearly $3 billion paid to contractors who failed to deliver on refinery rehabilitation deals in Port Harcourt, Warri, and Kaduna.
“If you fail to initiate legal measures for the recovery of the aforesaid huge funds within fourteen days, we shall not hesitate to file the necessary processes in the Federal High Court.”
— Femi Falana (SAN), ASCAB letter to the AGF
The message from ASCAB is simple: Nigeria does not need to borrow if it is willing to collect what is already owed. The AGF now has two weeks to act — or answer to the courts.
