A Deepening Mystery Behind June 12 Annulment

 

The June 12, 1993, presidential election remains one of Nigeria’s most significant political events.

Despite being hailed as the freest and fairest election in Nigerian history, it was abruptly annulled.

In a startling revelation, former Jigawa State Governor, Sule Lamido,

has alleged that the real reason behind the annulment was tied to a massive N45 billion debt owed to the winner of the election,

the late Chief Moshood Kashimawo Olawale (MKO) Abiola.

According to Lamido, the fear of repaying this debt drove the military to void the results of the historic election.

 

A Bold Claim at a Book Launch

 

Sule Lamido made this explosive claim during the presentation of his autobiography titled Being True to Myself in Abuja.

The event, which attracted a host of political heavyweights, served as a platform for Lamido to shed light on the shadows of Nigeria’s political past.

According to him, the annulment was not merely a power struggle or a political maneuver, but a calculated economic decision driven by fear of bankruptcy.

 

The Origins of the N45 Billion Debt

 

Lamido explained that MKO Abiola was owed N45 billion by the Nigerian government

for contracts carried out by International Telephone and Telecommunications (ITT), a company he had stakes in.

The debt dated back to the regime of General Murtala Mohammed.

After Murtala’s death, the military government allegedly refused to settle the debt.

Lamido stated that Abiola attempted to recover the funds by lobbying Northern emirs, who urged the military to pay.

 

“When (General) Murtala (Mohammed) died, Abiola came with a claim of about N45bn for contracts executed by ITT for the Ministry of Communications.

The military high command said no. He lobbied emirs in the North, who also supported him, yet the military stood its ground,” Lamido said.

 

How the Debt Allegedly Influenced the June 12 Annulment

 

According to Lamido, the military’s biggest concern was the financial implication of swearing in Abiola as president.

They believed that once in power, Abiola would take legal or executive steps to recover the N45 billion debt.

The military feared this could lead to a financial crisis and opted to annul the election rather than risk such a payout.

 

Lamido emphasized, “They said they cancelled the June 12 elections because if they made him President,

he would take his money and the country would become bankrupt.”

 

An Appeal to President Tinubu

 

During the presentation, Lamido made a passionate appeal to current President

Bola Ahmed Tinubu to bring closure to the long-standing saga by settling the debt owed to the Abiola family.

Lamido addressed this plea directly to the Minister of Information and National Orientation, Muhammad Idris Malagi,

who represented President Tinubu at the event.

 

“Before I end my remarks, I want to appeal to President Tinubu to finally close the chapter of June 12.

Please tell the President to pay the Abiola family the N45bn.

Once this is done, the June 12 chapter will be closed. It is very important,” he added.

 

Endorsement from Babangida

 

Lamido claimed that former military ruler, General Ibrahim Babangida,

also confirmed both the legitimacy of Abiola’s electoral victory and the existence of the debt.

Lamido recounted a personal meeting with Babangida in which the former leader acknowledged that Abiola won the election and was owed the massive sum.

 

Obasanjo Weighs In on Nigeria’s Incomplete Journey

 

Also speaking at the book launch, former President Olusegun Obasanjo reiterated the ongoing struggle to fully achieve Nigeria’s potential.

While not directly addressing the debt claim, Obasanjo praised Lamido’s dedication and urged him and other political actors not to retire from nation-building efforts.

 

“Nigeria that we are working for, we haven’t got there.

Our job is not finished until we are finished,” Obasanjo said. He applauded Lamido’s role as Foreign Affairs Minister,

highlighting his achievements in restoring Nigeria’s international image.

 

President Tinubu Responds via Representative

 

President Tinubu, represented by the Minister of Information and Orientation,

praised Lamido’s contribution to Nigeria’s political history through his autobiography.

He commended Lamido’s principled opposition and emphasized the administration’s openness to criticism and dialogue.

 

“Are we where we want to be? No.

But President Bola Ahmed Tinubu has shown uncommon audacity and vision to set Nigeria on the path of growth and development.

We are now entering a phase of intended beneficial outcomes,” the minister said.

 

Encouragement from Abdulsalami Abubakar’s Representative

 

Former INEC Chairman, Professor Attahiru Jega, representing General Abdulsalami Abubakar,

encouraged other leaders to emulate Lamido by documenting their political experiences.

He stressed that more written accounts would enhance understanding of Nigeria’s governance journey.

 

“It is my hope that ‘Being True to Myself’ will inspire other actors and activists to write their own books.

We all have a role to play in building a better Nigeria,” Jega remarked.

 

A Star-Studded Political Gathering

 

The event was graced by a host of prominent political leaders.

Among them were former Vice Presidents Atiku Abubakar and Namadi Sambo, former Senate Presidents Ken Nnamani and Pius Ayim,

former Rivers State Governor Rotimi Amaechi, and 2023 Labour Party presidential candidate Peter Obi.

 

Governors in attendance included Muhammadu Yahaya (Gombe), Umar Namadi (Jigawa), and Caleb Mutfwang (Plateau).

The event also saw former governors like Gabriel Suswam (Benue), Ahmed Makarfi (Kaduna), Babangida Aliyu (Niger), and Liyel Imoke (Cross River) showing support.

 

Revisiting the Importance of June 12

 

The June 12 annulment is a scar that many Nigerians have yet to heal from.

MKO Abiola, a philanthropist and businessman, was widely accepted as the people’s choice,

and the annulment sparked national protests and unrest.

Many still see June 12 as a symbol of stolen democracy and unfulfilled political promises.

 

Lamido’s revelation adds another dimension to the mystery surrounding the annulment

and raises serious questions about past military regimes’ financial decisions.

If the debt truly existed, settling it may indeed be a meaningful gesture of justice and reconciliation.

 

Why the N45 Billion Debt Matters Today

 

The alleged N45 billion owed to Abiola isn’t just a financial issue it’s a matter of historical justice.

For decades, the Abiola family has lived under the shadow of this unresolved matter.

By settling the debt, the government could finally acknowledge MKO Abiola’s sacrifice and honor the democratic mandate that was denied.

 

Moreover, in an era where financial accountability and historical transparency are increasingly important,

resolving such long-standing issues could set a precedent for other governance-related disputes.

 

Final Words from Sule Lamido

 

In his vote of thanks, Sule Lamido appreciated the organizing committee and all attendees.

He reiterated his commitment to national development and expressed hope

that his book would inspire young Nigerians and leaders to fight for truth, justice, and good governance.

 

Conclusion: A Call for Closure

 

The issue of the June 12 annulment continues to haunt Nigeria’s democratic history.

With Sule Lamido’s revelations and appeal to the current administration,

the question now is whether President Tinubu will heed the call to finally close this chapter by settling the alleged N45 billion debt to the Abiola family.

Doing so might not only bring closure to a national wound but also restore public trust in the country’s journey toward truth and reconciliation.

 

Do you believe the Nigerian government should pay the Abiola family the alleged N45 billion debt?

Share your thoughts in the comment section and don’t forget to follow NIGPOST for more in-depth political insights.

For more information read on Punch newspaper

Author: Rasheed Alao

Date: May 14, 2025