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NNPCL ₦200tn probe transparency: SERAP urges Senate to publish audit reports, records, proceedings
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Akpabio Senate investigation NNPCL: Group demands names of implicated officials be made public
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Nigeria oil sector accountability: Seven-day ultimatum issued, legal action threatened
The Socio-Economic Rights and Accountability Project (SERAP) has urged the President of the Senate, Godswill Akpabio, to ensure full transparency in the ongoing investigation into alleged missing ₦200 trillion from the Nigerian National Petroleum Company Limited.
In a letter dated March 21 and signed by its deputy director, Kolawole Oluwadare, SERAP called on the Senate’s Public Accounts Committee to disclose all details of the probe, including audit reports, financial records, official correspondence, and proceedings of the investigation.
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The organisation also demanded the publication of the names and positions of all officials implicated in the alleged financial discrepancies, stressing that accountability must apply “regardless of their social or political status.”
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SERAP expressed concern over delays in the probe, noting that repeated postponements and the failure of some officials to appear before the committee could erode public trust.
“The ongoing probe… has been dragging for an extended period, with repeated delays… Such delays undermine public confidence… and create the risk of key evidence being lost or distorted,” the group stated.
The Senate panel is investigating claims that about ₦200 trillion was either missing or unaccounted for in NNPCL’s finances between 2017 and 2023, involving an estimated ₦103 trillion in joint venture and operational costs, and ₦107 trillion in receivables and subsidies.
SERAP emphasised that making the process open would prevent perceptions of a cover-up and allow Nigerians to independently assess the credibility of the allegations and the integrity of the investigation.
The organisation cited provisions of the Nigerian Constitution and international anti-corruption frameworks, insisting that transparency is essential to safeguard public resources and uphold accountability.
It further warned that failure to act could normalise impunity and weaken citizens’ right to scrutinise how national wealth is managed.
SERAP gave the Senate a seven-day deadline to act on its demands, adding that it may initiate legal proceedings if the recommendations are not implemented.