SERAP to FG: Probe Missing N26bn in Petroleum Ministry

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN), and appropriate anti-corruption agencies to promptly probe allegations that over N26 billion of public funds were missing, diverted or stolen from the Petroleum Technology Development Fund (PTDF) and the Federal Ministry of Petroleum Resources in 2021.

The allegations are detailed in the 2021 audited report released by the Office of the Auditor-General of the Federation on November 13, 2024.

According to SERAP anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing public funds should be fully recovered and remitted to the treasury.

The body urged President to use any recovered stolen funds to fund the deficit in the 2025 budget and to ease Nigeria’s crippling debt crisis.

In a letter at the weekend, signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said there was a legitimate public interest in ensuring justice and accountability for the grave allegations. According to SERAP, the allegations suggest a grave violation of the public trust, the Nigerian Constitution 1999 (as amended), the country’s anti-corruption legislation and international anti-corruption obligations.

SERAP warned that failure to act within seven days of receiving the letter would prompt legal action to compel the government to comply with its demand.