Three more reports due on oil-for-food -Annan
Thu Jun 30, 2005 2:28 AM BST 
By Evelyn Leopold
UNITED NATIONS (Reuters) - An independent inquiry committee probing wrongdoing in the U.N. oil-for-food program for Iraq intends to issue three more reports and needs more money to complete its work, Secretary-General Kofi Annan told the Security Council on Wednesday.
Annan's chief reason for consulting the 15-member body was to pass on a request documents from the panel, headed by former U.S. Federal Reserve Chairman Paul Volcker. In particular, Volcker wanted minutes of the council's committee responsible for monitoring the program and sanctions against Iraq.
The secretary-general expressed his intention to comply with the request, but wished first to consult the Security Council, U.N. spokesman Stephane Dujarric said in a statement.
Participants at the meeting said the council would reply to Annan on Tuesday, with some members saying they were concerned about the accuracy of the minutes.
Some records from the Security Council's sanctions panel on Iraq, known as the 661 Committee, have been turned over to congressional investigators by the United States, although many of them are notes taken by U.S. officials. They showed council members were aware of numerous irregularities in oil contracts, but could not agree on a course of action.
Under the now-defunct $67 billion program, former Iraqi President Saddam Hussein was allowed to sell oil to buy civilian goods to ease the impact of U.N. sanctions on ordinary Iraqis.
Since the U.S.-led invasion in March 2003, Iraq has released lists of bribes from the Saddam government to political groups and individuals in a quest to get the sanctions lifted. The program is now the target of several corruption investigations by the U.S. Congress.
Volcker has released two interim reports, one in February and another in March, and had said he would end the probe with a final report this summer.
But U.N. sources said Annan had been told three more were expected: one in late July, a comprehensive one in August and another in late September that would deal with companies that received contracts under the program.
The July report is expected to revisit evidence on Benon Sevan, the former head of the program accused of steering an oil contract to friends, and on Kojo Annan, the secretary-general's son, who worked for a firm that received a lucrative contract for Iraq.
In March, Volcker's report cleared Annan of trying to influence the contract bidding, but said the secretary-general did not investigate properly possible conflicts-of-interest involving his son.
To Iraq's dismay, the Volcker probe is funded from the leftover monies from the oil-for-food program and is expected to cost more than $30 million. Participants at the council meeting said the inquiry committee had requested another $3 million.