Nigeria has had its fair share of leaders whose wealth and influence seem to defy time, logic, and accountability. But few can match the sheer audacity and resilience of former Military President, General Ibrahim Badamasi Babangida (IBB). The man who allegedly pocketed $12.4 billion from the 1991 Gulf War oil windfall without prosecution has now, in 2025, walked away with another staggering N17 billion from a single book launch—once again, with applause and praise instead of scrutiny.
The story of Nigeria’s missing $12.4 billion remains one of the greatest financial mysteries in the country’s history. The windfall, meant to strengthen the nation’s economy, reportedly disappeared under Babangida’s watch, and despite calls for investigations, nothing ever came of it. The 1994 Okigbo Panel report, which detailed how the funds were mismanaged, was conveniently buried and ignored by successive governments. Babangida, the master strategist, successfully evaded any form of accountability, cementing his legacy as Nigeria’s most elusive leader.
Fast forward to 2025, and the same IBB is once again at the center of an astronomical financial windfall—this time, from the launch of his memoir, A Journey in Service. In one day, he raked in N17 billion, thanks to donations from political allies, business moguls, and government officials. The event was not just a book launch but a grand spectacle, celebrating the man who has shaped Nigeria’s political landscape for decades. Instead of questioning the morality of such wealth accumulation, the political class cheered him on, eager to align with his enduring influence.
IBB’s ability to navigate Nigeria’s turbulent political and economic terrain has earned him the nickname “Maradona.” Like the football legend, he dribbles past opposition, outmaneuvers critics, and always finds a way to remain relevant. Even after decades of retirement from active politics, he still commands respect and wields immense power. His wealth, whether from oil windfalls or book launches, continues to grow, untouched by the long arm of the law.
Nigeria remains a country plagued by economic hardship, where millions struggle to afford basic necessities. The same country that “lost” $12.4 billion in 1991 is now watching as N17 billion is casually raised in one day for a book. This is not just about IBB—it’s about the culture of impunity that allows the powerful to amass wealth with little or no accountability.
At what point do Nigerians demand better? When do we ask why leaders who should be answering for past financial misdeeds are instead celebrated with standing ovations?
Who wouldn’t want to be like our beloved Maradona? After all, in Nigeria, power and money are the ultimate shields.
