latest
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.
Read Also Nigerian Military Operation Saves Abducted Gusau Varsity Female Students
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.
latest
Davido Defends His Right To Criticize Nigeria Amidst Explosive Political Backlash!.
Nigerian music sensation David Adeleke, widely known as Davido, recently entered a heated social media confrontation after advocating for entertainers to take a stronger stand against the country’s prevailing injustices and economic difficulties. In a candid post, the singer admitted that he and his fellow entertainers have failed to sufficiently address the nation’s worsening situation, stating that the crises in Nigeria have become too dire for influential figures to stay quiet.....KINDLY READ THE FULL STORY HERE▶
“I can’t lie, we entertainers… we dey fk up, I won’t lie, including me. We need to speak up. It’s too much injustice going on. Our country don go,” Davido wrote, sparking a wave of polarized feedback.
While some users appreciated his call for accountability, others were skeptical of his sincerity. One user, Princess Luna, accused the singer of hypocrisy and suggested his activism was merely performative, linking him to the “City Boy” political movement. She retorted, “Na God go punish you and your family. Go and do that performative rubbish in your City Boys group chat and get out of my face with all this pretentious nonsense. Na foolish Nigerians I blame”.
In response, an agitated Davido defended himself by firmly denying any affiliation with the “City Boy” group. He reminded his critics that he has voiced disapproval of the government in the past, including during American media appearances, at which point he claims he was attacked by Nigerians rather than supported. Addressing his relationship with “ST,” Davido clarified that their bond is strictly personal and does not represent a political alliance, adding, “I’ve been friends with ST for years and that’s where it stops, and I call and complain to him all the time, even in person”. The exchange concluded with the singer sharply rebuking his detractor.
latest
Super Eagles Dynasty: Nigeria Demolishes Jamaica To Retain Unity Cup Crown!.
The Super Eagles of Nigeria have successfully defended their Unity Cup title, securing a convincing 3-0 victory over Jamaica at the Valley Stadium in London. This triumph marks Nigeria’s fourth consecutive title in the tournament, maintaining their perfect record since the competition’s inception. Unlike last year’s final, which required a penalty shootout, the Nigerian B team dominated throughout regulation time.....KINDLY READ THE FULL STORY HERE▶
Alhassan Yusuf spearheaded the win with two goals—his first for the national team—while captain Terem Moffi also contributed to the scoreline. Yusuf opened the scoring in the third minute after capitalizing on a defensive error, and Moffi doubled the lead in the 58th minute following a cross from Femi Azeez. Yusuf finalized his brace with a brilliant solo effort during stoppage time, further highlighting the quality difference between the two sides.
This win extends Nigeria’s unbeaten streak against the Reggae Boyz to six matches. Looking ahead, the Super Eagles plan to use this momentum as they continue their summer schedule, with upcoming friendly matches against Poland in Warsaw on June 3 and Portugal in Leiria on June 10.
latest
“They Are Unstoppable”: Arteta Crowns PSG World’s Best After Champions League Heartbreak.
Following Arsenal’s heartbreaking penalty shootout defeat to Paris Saint-Germain (PSG) in Saturday’s Champions League final in Budapest, Gunners manager Mikel Arteta has labeled the French champions as the best team in the world. Despite a strong Premier League-winning campaign, Arsenal fell short of securing their first-ever Champions League title, prolonging their 20-year wait for European glory.....KINDLY READ THE FULL STORY HERE▶
Arteta acknowledged PSG’s dominance throughout the match, particularly their possession and relentless pressure. “I want to congratulate PSG, Luis in particular, because in my opinion they are the best in the world,” Arteta stated. He praised their ball control and individual brilliance, noting that PSG forced Arsenal to defend extensively. Despite taking an early lead through Kai Havertz, Arsenal conceded a second-half penalty converted by Ousmane Dembele, leading to the dramatic shootout conclusion. PSG’s victory marks their second consecutive Champions League title, solidifying their European dominance.
Arteta also expressed dissatisfaction with a penalty decision involving Noni Madueke that was not awarded when the score was tied. However, he emphasized that Arsenal still needs to improve to compete with Europe’s elite. “The same progression that we had in the last few years, we’re going to have to do that over again, and the level is increasing every single season,” Arteta said. He urged his team to use the pain of defeat as motivation to elevate their game and eventually overcome top European clubs like PSG.
-
latest9 months ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest2 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics2 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics2 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp
