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SERAP has filed a lawsuit against President Bola Tinubu over the failure to prosecute contractors involved in a N167 billion project fraud.
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The lawsuit alleges that 31 ministries, departments, and agencies (MDAs) paid over N167 billion to companies and contractors for contracts and projects not executed.
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SERAP is seeking a court order to compel President Tinubu to direct the Minister of Finance to name and ensure the prosecution of the contractors involved in the alleged fraud.
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu over the failure to prosecute contractors involved in a N167 billion project fraud.
In the suit, SERAP is asking the court to compel President Tinubu to direct the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, to name and ensure the prosecution of the contractors who collected over N167 billion from 31 MDAs but failed to execute any projects.
According to the 2021 annual audited report by the Auditor-General of the Federation, 31 ministries, departments, and agencies (MDAs) paid over N167 billion to companies and contractors for contracts and projects not executed.
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The Nigerian Bulk Electricity Trading Plc., (NBET) alone reportedly paid N100 billion to companies and contractors for projects not executed.
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SERAP is arguing that “the allegations of corruption involving many companies and contractors who collected over N167 billion from 31 MDAs have continued to impair, obstruct and undermine access of poor Nigerians to public goods and services.”
The organization is also arguing that “holding the companies and contractors who collected over N167bn from 31 MDAs but disappeared with the money would prevent and combat waste, fraud, and abuse in the spending of public funds.”
N825bn, $2.5bn: Account For Missing Funds For Refinery Repair, Involve EFCC, ICPC– SERAP Tells NNPC
Socio-Economic Rights and Accountability Project (SERAP), has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, to account for the alleged missing N825 billion and $2.5 billion allocated for refinery rehabilitation and other oil revenues.
In the letter dated January 4, 2025 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “We welcome your timely public invitation to former president Obasanjo ‘to tour the Port Harcourt and Warri refineries.’
