But its military ruler, General Sani Abacha, has done none of the things demanded of him.
The ill-fated venture started in 1998, just before the collapse of General Sani Abacha's military regime.
Recent revelations about the scale of theft by Sani Abacha, a previous military dictator, leaves one speechless.
He was executed by the brutal government of General Sani Abacha after a charade of a trial in 1995.
He was a close ally, loyalist and confidante of the late Nigerian dictator, Sani Abacha, who rewarded General Danjuma with an oil block.
Now he looks like General Sani Abacha, who as head of state would sometimes begin his office hours at 22:00, always behind dark glasses.
Even as the explosion took place, various official investigations were proceeding into bank accounts held in Europe by the country's previous ruler but one, Sani Abacha.
General Abdulsalami Abubakar, successor by inheritance to the late and little lamented General Sani Abacha, is offering the country he now heads its best chance in decades of genuinely democratic rule.
Mr Usman had only just returned to the bank after being suspended by General Abubakar's predecessor, the late Sani Abacha, for objecting too strongly to his raiding of the country's coffers.
Mr Obasanjo, a former military ruler, was selected by Nigeria's political elite to stand as a consensus candidate in elections after the death of Nigeria's last military dictator, Sani Abacha, in 1998.
Moseley-Braun's term was marked by controversy, including trips to Nigeria to visit the late dictator Sani Abacha, campaign finance questions and a blowup in which she compared columnist George Will to a Ku Klux Klansman.
Forensic experts from the United States-based group Physicians for Human Rights (PHR) were invited to open the communal grave where the nine "Ogoni martyrs" were buried after being hanged by the military government of Sani Abacha in 1995.
The Supreme Court cited at length the successful legal battles fought by the governments of Nigeria and the Philippines with the Swiss authorities in their bids to get back the billions looted by Sani Abacha and Ferdinand Marcos.
Under the rule of Sani Abacha, who died last year, Nigeria's leaders damaged the state's oil refineries so much that the world's 11th-biggest oil exporter found itself importing fuel (to the profit of the president and his mates).
Nigeria's military leader, General Sani Abacha, ordered his troops to boot out the junta in Sierra Leone without a mandate from the United Nations and without telling its secretary-general of his intentions, as he had promised (see article).
The presidential election that Nigeria is to hold on August 1st was turned into a referendum on General Sani Abacha, the current ruler, when all of the five political parties allowed to take part adopted the general as their candidate.
In August 1996, not long before President Clinton was to come to Chicago for that year's Democratic convention, Senator Moseley-Braun made a freelance trip to Nigeria to meet General Sani Abacha, the head of a military regime that had jailed the winner of an election and executed political opponents.
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