Tinubu to probe missing N128bn in Bayo Adelabu’s Power Ministry.
Tinubu to probe missing N128bn in Bayo Adelabu’s Power Ministry.
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Ahmed Tinubu to immediately order an investigation into allegations that more than N128 billion in public funds is missing or has been diverted from the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc. (NBET), Abuja.
The allegations are contained in the latest annual report of the Auditor-General of the Federation, published on September 9, 2025, which highlighted multiple cases of financial irregularities, undocumented payments, ents and suspected diversion of public funds across both institutions.
In a letter dated January 3, 2026, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation called on President Tinubu to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, alongside relevant anti-corruption agencies, to promptly probe the findings and ensure accountability.
SERAP stressed that any individual found culpable should be prosecuted where sufficient admissible evidence exists, while all missing or diverted funds should be fully recovered and paid back into the national treasury.
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The group further urged the president to deploy any recovered funds to address the deficit in the 2026 budget and help ease Nigeria’s growing debt burden.
According to SERAP, Nigerians continue to bear the consequences of entrenched corruption in the power sector, which has contributed to persistent electricity shortages, frequent transmission line failures and unreliable power supply nationwide.
The organisation argued that addressing corruption in the sector would significantly improve access to regular and uninterrupted electricity.
The civil society group described the allegations as a grave breach of public trust and a violation of the 1999 Constitution (as amended), Nigeria’s anti-corruption laws and international obligations, including the United Nations Convention against Corruption.
Detailing the audit findings, SERAP noted that the Ministry of Power failed to account for over N4.4 billion transferred to the Mambilla, Zungeru and Kashimbilla project accounts, with no evidence provided on how the funds were utilised.
The Auditor-General expressed fears that the money may have been diverted and recommended its recovery.
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The report also revealed that the ministry paid over N95 billion to contractors for various projects without documentation or proof that the projects existed or were executed.
Additionally, more than N33 million was reportedly spent on foreign travels for the minister and aides to attend international events in Abu Dhabi and Dubai without required approvals from the Secretary to the Government of the Federation or the Head of Civil Service.
Further concerns were raised over unaccounted expenditures, including over N230 million on the GIGMIS platform and more than N282 million paid as non-personal advances to staff beyond statutory limits, all without adequate documentation.
At NBET, the Auditor-General uncovered multiple cases of irregular contract awards and payments. These include over N427 million in contracts awarded without evidence of procurement advertisements, more than N7.6 billion transferred into purported sub-accounts of unnamed beneficiaries, and over N9.3 billion paid to Egbin Power Plc without documents to authenticate the transactions.
The audit also cited payments exceeding N8 billion made without proper record-keeping, over N420 million paid to ineligible consultants without evidence of services rendered, and more than N1.1 billion spent as extra-budgetary expenditure without approval from the Minister of Finance or the National Assembly.
Other questionable expenditures highlighted include payments for vehicles without due process, unapproved legal fees, undocumented staff welfare packages, and consultancy services not captured in approved budgets.
SERAP warned that if decisive action is not taken within seven days of the receipt or publication of its letter, the organisation would consider legal steps to compel the government to act in the public interest.
Citing constitutional provisions, SERAP reminded President Tinubu that Section 15(5) of the Constitution mandates the abolition of corrupt practices, while Section 16 obliges the government to ensure that the nation’s resources are managed to promote the welfare and happiness of all citizens.
Source: Tribune
