The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to reveal the identities of contractors and firms accused of misappropriating ₦167 billion allocated to 31 federal ministries, departments, and agencies (MDAs).
These funds, intended for developmental projects, allegedly vanished without any work being done.
In a letter dated November 30, 2024, and signed by Deputy Director Kolawole Oluwadare, SERAP requested the President to instruct the Minister of Finance, Wale Edun, and the Accountant-General of the Federation, Oluwatoyin Madein, to disclose full details of the alleged transactions.
Highlighting findings from the 2021 audited report by the Office of the Auditor-General of the Federation, SERAP noted that the Nigerian Bulk Electricity Trading Plc alone disbursed ₦100 billion for unexecuted projects.
Other implicated entities include the Federal Ministry of Youth and Sports Development, the National Pension Commission, and the Hydrocarbon Pollution Remediation Project.
SERAP emphasized that transparency in naming the contractors would prevent future abuses and strengthen anti-corruption measures.
The organization also called for the recovery of misappropriated funds and prosecution of those responsible.
“Corruption on this scale erodes public trust, perpetuates poverty, and deepens inequality,” SERAP stated, warning of legal action if the government fails to respond within seven days.
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