Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly probe the allegations that over N128 billion of public funds are missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading (NBET) Plc, Abuja.
The allegations are documented in the latest yearly report published by the Auditor-General on September 9, 2025. According to SERAP, anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and remitted to the treasury.
The body urged him to use any recovered diverted funds to fund the deficit in the 2026 budget and to ease Nigeria’s crippling debt crisis. In the letter at the weekend signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation lamented that Nigerians had continued to pay the price for the widespread and grand corruption in the power sector, stressing a legitimate public interest in ensuring justice and accountability for the grave allegations.
SERAP maintained that tackling corruption in the power sector would go a long way in addressing the persistent breakdown of transmission lines in the country, and improving access of Nigerians to regular and uninterrupted electricity supply.
According to the organisation, these allegations suggest a grave violation of the public trust, the Nigerian Constitution 1999 (as amended), the country’s anticorruption legislation and international anticorruption obligations.
“According to the recently published 2022 audited report by the Auditor-General of the Federation, the Federal Ministry of Power failed to account for over N4.4 billion ‘transferred to Mambilla, Zungeru and Kashimbilla project accounts by the Ministry.’
“There was ‘no evidence of how the funds were expended,’ the Auditor-General declared, fearing that ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury,” SERAP stated.
The body also reported that the ministry paid over N33 million ‘for foreign travels’, but ‘without any approvals.’ The money, it said, was paid as estacode, flight tickets, visa fees and other allowances to enable the minister and his aides to attend the World Utilities Congress at Abu Dhabi and the Huawei innovation land exhibition in Dubai.
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