Ensure transparency in NNPCL ₦200tn probe, SERAP tells Senate
Ensure transparency in NNPCL ₦200tn probe, SERAP tells Senate
The Socio-Economic Rights and Accountability Project has called on the Senate President, Godswill Akpabio, to direct the Senate’s Public Accounts Committee to fully disclose all details of its ongoing investigation into alleged ‘missing or unaccounted funds totalling about ₦200 trillion’ from the Nigerian National Petroleum Company Limited.
In a letter dated March 21, and signed by SERAP deputy director Kolawole Oluwadare, the organisation urged Akpabio to publish the names and designations of all officials implicated in the alleged financial irregularities, “regardless of their social or political status.”
SERAP also requested that the Senate make public the audit reports, financial records, official communications, and committee proceedings, including minutes, submissions, and evidence presented, as well as timelines for the appearance of implicated officials and the conclusion of the investigation.
“The ongoing probe by the Public Accounts Committee into the alleged missing ₦200 trillion from the NNPCL has been dragging for an extended period, with repeated delays in the appearance of officials and slow progress in reconciling the disputed figures.
“Such delays undermine public confidence in the investigative process and create the risk of key evidence being lost or distorted,” SERAP stated.
The Public Accounts Committee is investigating allegations that about ₦200 trillion went missing or remained unaccounted for in the NNPCL’s accounts between 2017 and 2023.
According to SERAP, the discrepancies involve roughly ₦103 trillion in joint venture costs and operational expenses, and about ₦107 trillion in receivables, subsidies, and other financial obligations.
“Transparency regarding the ongoing investigation would prevent any perception of a cover-up or political compromise, and ensure that the facts are clearly established.
“Full disclosure is essential to ensure accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts and investigation,” the letter added.
SERAP warned that failure to act could normalise impunity and diminish the public’s right to know how national wealth is being managed.
The organisation requested that the recommended measures be taken within seven days of receipt of the letter, adding that legal action may follow if the Senate does not comply.
The advocacy group cited legal frameworks supporting public oversight, including Section 15(5) of the Nigerian Constitution, which obliges public institutions to prevent corrupt practices, and Section 85(5), which empowers the National Assembly to summon individuals and documents necessary for legislative oversight.
SERAP also referenced Articles 5 and 9 of the UN Convention against Corruption and Article 21 of the African Charter on Human and Peoples’ Rights, which safeguard citizens’ rights to resources and demand accountability in the management of national wealth.
“The magnitude of the sum, combined with the NNPCL’s history of opaque practices, underscores the urgency of a thorough, impartial, and transparent investigation.
“Proactive disclosure of the audit reports, financial records, and official communications relied upon by the Committee would enable Nigerians to independently assess the credibility of the allegations and the integrity of the investigative process,” SERAP said.
According to the statement, several current and former NNPCL officials have failed to appear before the committee or provide satisfactory explanations, prompting concerns about transparency in the management of the country’s natural wealth.
“The allegations that ₦200 trillion is missing or unaccounted for, whether fully accurate or partly overstated, can only be taken seriously by Nigerians if the Senate is fully transparent in its ongoing investigation regarding the credibility, plausibility, and accuracy of the claims,” the letter stated.
SERAP urged the Senate to set clear timelines for the appearance of implicated individuals and for the conclusion of the inquiry. It also called for the full publication of the committee’s records, including the minutes, submissions, and evidence, to prevent misrepresentation or suppression of facts.
“Without this information, it is difficult for the public to determine whether the inquiry is sufficiently comprehensive, impartial, and capable of addressing the issues raised by the audit findings,” SERAP added.
The organisation also stressed that transparency would reinforce equality before the law, prevent political interference, and restore public trust in the oversight process.
The letter concluded by urging Akpabio and the Senate to take decisive action within seven days, warning that legal steps would follow to compel compliance if the recommendations were not implemented.
