The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to disclose the identities of contractors and companies implicated in the disappearance of over N167 billion allocated for projects across 31 federal ministries, departments, and agencies (MDAs).
According to the 2021 audit report by the Office of the Auditor-General of the Federation, the funds were disbursed without corresponding project execution. SERAP made the demand in an open letter dated November 30, 2024, signed by its Deputy Director, Kolawole Oluwadare.
The organization called on Tinubu to direct Finance Minister Wale Edun and Accountant-General Oluwatoyin Madein to publish the names of the contractors and their shareholders, recover the funds, and prosecute those involved.
The letter highlighted widespread corruption documented in the audit report, including instances where contractors absconded with funds allocated to projects in critical agencies such as the Nigerian Bulk Electricity Trading Plc (NBET), the Nigerian Correctional Service, and the National Pension Commission. NBET alone reportedly paid N100 billion for unexecuted projects.
SERAP warned that the misappropriation of funds has compounded Nigeria’s development challenges, depriving citizens of essential services like healthcare, education, and infrastructure.
“The publication of these names is essential to ensure accountability and break the cycle of impunity,” the letter read. “This action will serve as a deterrent to corruption and showcase your government’s commitment to transparency.”
The group also urged Attorney-General Lateef Fagbemi, SAN, to collaborate with anti-corruption agencies to ensure that those implicated are brought to justice.
SERAP emphasized that the funds must be recovered and returned to the national treasury to serve the public interest. The organization further warned that failure to act within seven days would result in legal action to compel compliance.
Citing Nigeria’s obligations under the United Nations Convention Against Corruption (UNCAC) and the Freedom of Information Act, SERAP reminded the government of its responsibility to uphold transparency and accountability in managing public funds.
“Addressing these allegations is about more than recovering money; it is about restoring public trust in government institutions and demonstrating a zero-tolerance stance on corruption,” SERAP concluded.
The call has placed significant pressure on Tinubu’s administration, as citizens await decisive action to address the allegations and foster accountability.
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