SERAP Demands Accountability From NNPC over Missing ₦825bn, $2.5bn
The Socio-Economic Rights and Accountability Project (SERAP) has issued a stern warning to the Nigerian National Petroleum Company Limited (NNPCL) and its Group Chief Executive Officer, Mele Kyari, to provide a detailed account of the alleged missing ₦825 billion and $2.5 billion allocated for refinery rehabilitation and other oil revenues. This demand comes on the heels of revelations in the 2021 annual report by the Auditor-General of the Federation, which exposed the unaccounted funds.
According to SERAP, the missing funds are a grave violation of the public trust and the provisions of the Nigerian Constitution, national anti-corruption laws, and the country's international obligations. The organization has given the NNPCL seven days to comply with their requests, failure to which they will consider taking legal action. SERAP has also urged Kyari to identify and hand over individuals implicated in the mismanagement of funds to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC).
The alleged mismanagement of funds has severe implications for Nigeria's economic development, perpetuating poverty and denying citizens access to basic public goods and services. SERAP's demands for accountability and transparency are in line with the organization's mission to promote socio-economic rights and combat corruption in Nigeria.
SERAP has welcomed the NNPCL's public invitation to former President Olusegun Obasanjo to tour the Port Harcourt and Warri refineries, but has urged the company to extend the invitation to anti-graft agencies, including the ICPC and EFCC, to ensure transparency and accountability.
The missing funds are not an isolated incident, as SERAP has previously sued the NNPC over its failure to account for $2.04 billion and N164 billion in oil revenues. The organization's persistence in demanding accountability from the NNPC is a testament to its commitment to promoting transparency and combating corruption in Nigeria.
In conclusion, SERAP's demands for accountability from the NNPC are a crucial step towards promoting transparency and combating corruption in Nigeria. The organization's efforts to ensure that those responsible for the mismanagement of funds are held accountable will help to restore public trust and promote economic development in the country.
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