The Socio-Economic Rights and Accountability Project (SERAP) has called on the leadership of the National Assembly to ensure full disclosure in the ongoing probe into alleged missing funds linked to the nation’s oil sector.
In a letter addressed to Senate President Godswill Akpabio, the organisation urged the Senate to direct its Public Accounts Committee to publish the identities and positions of officials implicated in the alleged N210 trillion either missing or unaccounted for from the Nigerian National Petroleum Company Limited (NNPCL).
The letter, dated March 21, 2026, and signed by SERAP Deputy Director Kolawole Oluwadare, also requested the release of key documents related to the investigation.
These include audit reports, financial statements, official correspondences, and a timeline of appearances by individuals invited to testify before the committee.
SERAP stressed that making the full records of proceedings public—including minutes, submissions, and evidence—would enhance transparency and enable Nigerians to independently assess the credibility of the investigation.
According to the organisation, the scale of the alleged discrepancies requires openness to avoid perceptions of concealment, political interference, or selective accountability.
The Senate’s Public Accounts Committee is currently examining financial irregularities in NNPCL’s accounts spanning 2017 to 2023.
The probe reportedly involves about N103 trillion linked to joint venture operations and expenses, alongside approximately N107 trillion in receivables, subsidies, and other obligations.
Audit findings had pointed to inconsistencies, unreconciled figures, and missing documentation, prompting the committee to summon both current and former officials of the oil company.
However, SERAP noted concerns over the pace and effectiveness of the investigation, citing instances where invited officials allegedly failed to appear or provide satisfactory explanations.
The group warned that delays or lack of transparency could erode public confidence, encourage impunity, and risk the loss or manipulation of critical evidence.
It therefore gave the Senate a seven-day deadline to comply with its demands, indicating that legal action may follow if the requested disclosures are not made within the stipulated period.
SERAP maintained that ensuring accountability in the management of public resources is essential to safeguarding Nigeria’s economic future and restoring trust in public institutions.
