SERAP Urges President Tinubu to Probe N128 Billion Missing From Power Ministry, NBET
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to investigate allegations that over N128 billion was misappropriated or diverted from the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET). Citing the Auditor-General’s 2022 and 2025 reports, SERAP highlighted missing funds, undocumented payments to contractors, irregular foreign travel expenses, unauthorized sub-account transfers, and extra-budgetary spending.
SERAP urged prosecution of those responsible, recovery of the funds, and their use to address Nigeria’s 2026 budget deficit. The organization emphasized that tackling corruption in the power sector is essential to improve electricity supply and uphold constitutional and international anti-corruption obligations. SERAP warned it may take legal action if the government fails to act within seven days.
#SERAP #Tinubu #PowerSectorCorruption #NBET #NigeriaNews #Accountability #AntiCorruption #ElectricityCrisis #PublicFunds
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to investigate allegations that over N128 billion was misappropriated or diverted from the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET). Citing the Auditor-General’s 2022 and 2025 reports, SERAP highlighted missing funds, undocumented payments to contractors, irregular foreign travel expenses, unauthorized sub-account transfers, and extra-budgetary spending.
SERAP urged prosecution of those responsible, recovery of the funds, and their use to address Nigeria’s 2026 budget deficit. The organization emphasized that tackling corruption in the power sector is essential to improve electricity supply and uphold constitutional and international anti-corruption obligations. SERAP warned it may take legal action if the government fails to act within seven days.
#SERAP #Tinubu #PowerSectorCorruption #NBET #NigeriaNews #Accountability #AntiCorruption #ElectricityCrisis #PublicFunds
SERAP Urges President Tinubu to Probe N128 Billion Missing From Power Ministry, NBET
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to investigate allegations that over N128 billion was misappropriated or diverted from the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET). Citing the Auditor-General’s 2022 and 2025 reports, SERAP highlighted missing funds, undocumented payments to contractors, irregular foreign travel expenses, unauthorized sub-account transfers, and extra-budgetary spending.
SERAP urged prosecution of those responsible, recovery of the funds, and their use to address Nigeria’s 2026 budget deficit. The organization emphasized that tackling corruption in the power sector is essential to improve electricity supply and uphold constitutional and international anti-corruption obligations. SERAP warned it may take legal action if the government fails to act within seven days.
#SERAP #Tinubu #PowerSectorCorruption #NBET #NigeriaNews #Accountability #AntiCorruption #ElectricityCrisis #PublicFunds
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