The Socio-Economic Rights and Accountability Project has asked President Bola Tinubu to order an immediate investigation into alleged missing or diverted ₦128 billion linked to the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc.
Sponsored Ads
The request was made in a letter dated January 3, 2026, signed by SERAP’s Deputy Director, Kolawole Oluwadare. The organisation said its demand is based on findings in the 2022 report of the Auditor-General of the Federation, published in September 2025.
RELATED STORIES
Related Posts
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
SERAP urged the President to direct the Attorney General of the Federation, Lateef Fagbemi, alongside anti-corruption agencies, to investigate the allegations, recover any lost funds, and prosecute those found culpable where evidence exists. It also asked that recovered money be paid into the treasury and used to support the 2026 budget and reduce Nigeria’s debt burden.
According to SERAP, the Auditor-General’s report raised concerns over billions of naira spent without proper records. These include over ₦4.4 billion allegedly transferred to power project accounts with no explanation, ₦95.4 billion paid to contractors without proof of work, and several other expenses lacking approvals or documentation.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
The report also flagged questionable spending on foreign travel, consultancy services, software platforms, advances, and contract awards at both the Ministry of Power and NBET. In many cases, the Auditor-General warned that the funds may have been diverted or misapplied.
SERAP said the allegations point to long-standing governance problems in the power sector and argued that corruption has continued to worsen electricity supply across the country. It warned that failure to act could lead to legal action, giving the President seven days to respond.
The group said the matter raises serious constitutional and legal concerns and reminded the government of its obligations under Nigerian law and international anti-corruption agreements.
Comments are closed.