Falana accuses NNPC of failing to remit $20.2 billion

Human rights lawyer, Femi Falana (SAN) has accused the Nigerian National Petroleum Corporation (NNPC) of failing to remit over $20.2bn since the return of democracy in 1999 to date.

According to him, transparency and accountability are interconnected to the application of economic, political and administrative management of the affairs of a state.

Falana who made this accusation at a National seminar in Lagos said the federal government has to re-focus its recovery of stolen assets by vigorously pursuing recovery of assets from multinational corporations and not just the countries that are illegally keeping the looted wealth of the country.

The recovery of our looted wealth, he said, should also be extended to few Nigerians who have been indicted in the Panama and Paradise papers. According to him, the EFCC and the Federal Inland Revenue Service (FIRS) should recover appropriate taxes from the offshore companies set up by such individuals.

Socio-Economic Rights and Accountability Project (SERAP) organized the seminar in collaboration with the Ford Foundation, USA with the theme ‘promoting transparency and accountability in the recovery of stolen asset in Nigeria: Agenda for reform.’

Falana said: “It is undoubtedly clear that the governments of western countries and the United Arab Emirates are not going to co-operate with Nigeria in the repatriation of the nation’s looted funds unless the Federal government is prepared to adopt appropriate diplomatic and legal measures.

In addition, the labour unions and other civil society organizations in the affected countries have to be mobilized to mount pressure on their governments to return our looted wealth.”