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SERAP Calls On President Tinubu To Investigate Missing $15 Billion And N200 Billion Oil Revenues
SERAP Calls On President Tinubu To Investigate Missing $15 Billion And N200 Billion Oil Revenues....KINDLY READ THE FULL STORY HERE▶

Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to establish a presidential panel of inquiry to expeditiously investigate the disturbing allegations of the disappearance of over US$15 billion in oil revenues and N200 billion designated for refinery repairs during the period spanning 2020 and 2021, as disclosed by the Nigeria Extractive Industries Transparency Initiative (NEITI).
SERAP has urged the president to publicly identify and condemn any individuals suspected of involvement in the misappropriation of public funds and ensure their effective prosecution, as well as the complete recovery of any illicitly obtained proceeds.
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In a letter dated September 23, 2023, signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organization emphasized the imperative of pursuing justice and accountability in response to these grave allegations. SERAP emphasized that as President and Minister of Petroleum Resources, Tinubu’s office holds a responsibility to investigate these concerning revelations, bring suspected wrongdoers to justice promptly, and recover any missing public funds.
The letter stated, “Failure to investigate these grave allegations, bring suspected perpetrators to justice, and recover missing public funds could have severe implications for resource allocation, exacerbate the country’s debt burden, breed distrust in your government’s ability to combat high-level corruption, discourage foreign investment, and hinder growth and development.”
SERAP requested that the recommended actions be taken within seven days of receiving or publishing the letter. In the event of non-response, SERAP threatened to take legal action to compel the government to comply with its request in the public interest.
NEITI’s findings indicate a significant breach of public trust and violations of the Nigerian Constitution 1999 (as amended), national anti-corruption laws, and the nation’s obligations under the UN Convention against Corruption.
These corruption allegations, as documented by NEITI, undermine the nation’s economic development, perpetuate poverty among the majority of Nigerians, and deprive them of opportunities. SERAP stressed that the government has a constitutional duty to ensure transparency and accountability in the management of the country’s wealth and resources.
According to NEITI’s 2021 report, government agencies such as the Nigerian Petroleum Development Company (NNPC) and the Nigerian Upstream Petroleum Regulatory Commission (NPDC) failed to remit $13.591 million and $8.251 billion to the public treasury. These funds account for over 70% of the unremitted public funds. NEITI has called for investigations into both NNPC and NPDC, along with the recovery of the missing funds.
The report also highlights that in 2021, the State-Owned Enterprises (SOE) and its subsidiaries (the NNPC Group) allegedly spent $6.931 billion on behalf of the Federal Government without appropriation by the National Assembly, raising concerns about the potential misuse of these funds. Additionally, the NNPC reportedly obtained a $3 billion loan in 2012 for the purpose of settling subsidy payments to petroleum product marketers, yet there is a lack of transparency regarding the loan’s details, subsidy, and the beneficiaries of the payments.
NEITI’s report further reveals that N9.73 billion in pipeline transportation revenue earned from Joint Venture operations was paid to the NNPC, but the funds were neither remitted to the Federation nor properly accounted for. In 2021, the NPDC also failed to remit $7.61 million from the sale of crude oil.
The report also notes that approximately N200 billion was allocated for “refinery rehabilitation” between 2020 and 2021, yet none of the refineries were operational in 2021 despite the substantial expenditure. NEITI calls for an investigation into this spending, as the funds may be unaccounted for.
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Tinubu Directs Shettima To Lead Nigeria’s Delegation To UNGA
President Bola Tinubu will not attend the 81st Session of the United Nations General Assembly (UNGA) in New York. Instead, the President has directed Vice President Kashim Shettima to lead Nigeria’s delegation to the annual global gathering.....KINDLY READ THE FULL STORY HERE▶
This decision, announced in a statement on Sunday by the Vice President’s spokesman, Stanley Nkwocha, resolves weeks of uncertainty regarding President Tinubu’s attendance. Nigeria’s Permanent Representative to the UN, Jimoh Ibrahim, had previously indicated that arrangements were being made for the President to attend, including a planned seating arrangement near U.S. President Donald Trump.
The high-level delegation to be led by Vice President Shettima will include Rivers State Governor Siminalayi Fubara, Zamfara State Governor Dauda Lawal, various ministers, and other senior government officials.
Agenda in New York
The 81st UNGA General Debate is scheduled to take place from September 22 to September 28, 2026, under the theme, “Restoring trust, managing transformation: A United Nations that delivers for all.”
According to the Presidency’s statement, Vice President Shettima will represent President Tinubu at the summit. His engagements will include:
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Delivering Nigeria’s National Statement: Outlining the country’s position on major global issues affecting development, peace, security, and international cooperation.
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High-Level Meetings: Participating in discussions on critical topics such as the Right to Development and climate action.
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Bilateral Engagements: Joining the traditional reception for Heads of Delegation and holding a series of meetings with world leaders, heads of international organizations, and development partners.
Through these engagements, the delegation aims to advance President Tinubu’s economic diplomacy, deepen strategic partnerships, and strengthen Nigeria’s advocacy for reform of the global financial architecture, sustainable development, and multilateral cooperation.
This marks the third consecutive UNGA session President Tinubu has missed since assuming office. Vice President Shettima is expected to return to Nigeria at the conclusion of his engagements in New York.
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Massive Bust! NDLEA Intercepts ₦3.4 Billion Worth Of Illicit Drugs In Epic Operation!
....KINDLY READ THE FULL STORY HERE▶
The National Drug Law Enforcement Agency (NDLEA) has seized over 1.3 million pills of tramadol and other opioids, alongside approximately 6,000kg of cannabis, carrying a combined street value exceeding ₦3.4 billion across multiple states and the Federal Capital Territory.
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Tin-Can Island Port, Lagos: Operatives intercepted 1,200 parcels of Canadian Loud (a potent strain of cannabis) weighing 603.75kg and valued at ₦1.81 billion. The shipment arrived from Montreal on September 12 and was discovered hidden inside 31 black jumbo bags loaded in two Toyota Sienna vehicles within a 40-foot container.
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Delta State: Operatives arrested 49-year-old Innocent Ekpe and his accomplice, 39-year-old Nduka Joseph, along the Benin-Onitsha Expressway in Asaba. Ekpe was transporting 292.48kg of skunk in a silver Toyota Sienna bus and had been using a forged police ID card to pose as a Deputy Superintendent of Police named Godwin Emeka to bypass security checkpoints.
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Edo State: Acting on intelligence, operatives raided an auto-repair workshop on Agbor Road, Benin City, arresting 45-year-old Matthew Ossai and recovering 48kg of Canadian Loud and 152g of methamphetamine used as a front for storage.
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Niger State: Three suspects—Bashir Usman (20), Abubakar Nuhu (18), and Abdulrahman Abdulwahab (18)—were arrested along the Abuja-Kaduna Expressway. They were found with two locally fabricated AK-47 rifles, a pistol, magazines, and 9mm ammunition concealed in a travel bag.
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Abaji-Abuja Highway: Authorities arrested Aminu Isyaku (23) and Jamilu Habibu (25), recovering over 1.1 million assorted tramadol pills, codeine syrup, methamphetamine, and Exol tablets hidden in eight sacks while traveling from Onitsha to Mararaba.
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Lagos (Surulere & Apongbo): Onyeka Ofor was arrested in Aguda with 48,900 pills of tramadol 225mg, Luke Ugokwe was nabbed after 59kg of cannabis was intercepted at a logistics company, and Ibrahim Hudu (43) was arrested with 998.38kg of nitrous oxide gas.
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Gombe State: 154,480 capsules of tramadol were recovered from Sabi’u Umar (27) and Hassana Muhammad (19) in separate arrests at Barunde and the Gombe Main Market.
Agency Commendation
Following the operations, the NDLEA Chairman, Brig. Gen. Mohamed Buba Marwa (retd.), commended the officers and men across the affected commands, urging them to maintain intelligence-driven strategies and a balanced approach to drug control nationwide.
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2027: Lagos APC Bans Candidates From Travelling Abroad.
The Lagos State chapter of the All Progressives Congress (APC) has issued a directive requiring all its candidates to remain in Nigeria until the conclusion of the 2027 general election.....KINDLY READ THE FULL STORY HERE▶
The announcement was made by the state party chairman, Pastor Cornelius Ojelabi, during the inauguration of the Tinubu-Hamzat Campaign Council at the APC secretariat in Ogba, Ikeja.
According to Ojelabi, this measure is designed to ensure that all candidates and party members remain fully focused on campaign preparations and mobilization activities. He also cautioned against underestimating opposition parties, stressing the need for total commitment to the electoral process.
Key Highlights from Chairman Ojelabi’s Address:
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Travel Ban: “No candidate is allowed to travel outside the country until after the general election.”
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Campaign Conduct: Ojelabi called for a peaceful campaign, free of hatred, thuggery, and violence, emphasizing that unity must be the party’s strength.
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A Case for Continuity: Highlighting Lagos as responsible for 33% of Nigeria’s GDP, he argued that the state is too critical to be left to “trial and error.” He praised the president for stabilizing the economy, achieving a trade surplus, and driving key reforms in agriculture, the Lekki Trade Zone, and taxation (including the first tax reform since 1938).
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Call to Action: He urged members to actively mobilize voters for the entire APC ticket, encompassing the presidential, senatorial, House of Representatives, and House of Assembly candidates.
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