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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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The Ultimate Prohibition: Ondo Govt Drops Heavy Hammer, Banning Unverified Alcoholic Drinks After Tragic Wave Of 30 Deaths!
The Ondo State Government has announced an immediate, statewide ban on the sale and distribution of all unverified alcoholic drinks and similar substances.....KINDLY READ THE FULL STORY HERE▶
This directive follows a tragic incident in the Odigbo Local Government Area, where approximately 30 people died after consuming a locally brewed herbal alcoholic mixture known as ‘monkey tail.’ An additional 50 individuals were hospitalized, prompting the swift government intervention to prevent further loss of life.
State Commissioner for Information and Orientation, Idowu Ajanaku, confirmed the ban in a statement, emphasizing that the measure is necessary to contain the crisis and protect residents from potentially lethal products. The ban specifically targets alcoholic drinks and other substances sold in sachets, bottles, or other forms whose origin, ingredients, or regulatory approval cannot be established.
Ajanaku stated that the Ministry of Health has launched a full investigation into the toxic substance. Scientific officers have been deployed to the affected communities to identify the exact compound responsible for the fatalities. “Under the leadership of Governor Lucky Orimisan Aiyedatiwa, the government is leaving no stone unturned in the efforts to unravel the circumstances surrounding the incident, protect the lives of our people and prevent further casualties,” the statement read.
The government has strongly cautioned the public against purchasing or consuming any alcoholic beverage whose authenticity is questionable. It specifically highlighted the risk of consuming products in sachets or bottles that lack certification from the National Agency for Food and Drug Administration and Control (NAFDAC).
Traders and distributors have been ordered to immediately halt the purchase, sale, and distribution of any product that cannot be verified. The government warned that violators would face prosecution and the full force of the law. Security agencies across the state have been directed to commence immediate enforcement actions to seize and remove illegal products from circulation.
Residents are advised to remain vigilant and to report any suspicious products, vendors, or distribution activities to the relevant authorities. “Protecting lives and safeguarding public health remains a collective responsibility,” the government added, urging public cooperation with health officials and security forces during the ongoing investigation.
Alhaji Bamanga Tukur, a former Governor of the defunct Gongola State and one-time National Chairman of the Peoples Democratic Party (PDP), was laid to rest on Sunday in Yola following funeral prayers at the Lamido of Adamawa’s Palace Mosque. The Janazah prayer commenced shortly before 11 a.m. with thousands of mourners, government officials, and dignitaries present. High-profile attendees included industrialist Aliko Dangote and the Emir of Adamawa, Barkindo Aliyu Musdafa, alongside various traditional rulers. Following the prayers, Tukur’s body was interred at his late father’s family compound near the Lamido Palace in accordance with Islamic rites.....KINDLY READ THE FULL STORY HERE▶
Adamawa State Governor Ahmadu Fintiri headed a government delegation to the rites, eulogizing Tukur as a mentor, father, and “Iroko tree” who served Nigeria exceptionally across multiple capacities, from the NPA to the PDP Secretariat. In observance of a three-day mourning period declared after Tukur’s passing on Saturday, Governor Fintiri designated Monday, September 14, 2026, as a work-free day. Dangote praised the late statesman as a pioneer of Northern Nigerian private enterprise, while former Adamawa Governor Senator Jibrilla Bindow remembered him as an invaluable political counselor.
Tukur passed away in Abuja on Saturday, September 12, 2026, just days ahead of his 91st birthday, after which his body was flown to Yola and kept overnight at his Jimeta private residence. Born on September 15, 1935, he is survived by two wives and 18 children, which includes Alhaji Awwal Tukur, the current Secretary to the Government of Adamawa State.
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The Ultimate Diplomatic Triumph: Ikpeazu Storms Spain In Grand Style, Officially Presenting Letters Of Credence As Nigeria’s New Ambassador!.
Okezie Ikpeazu, the former Governor of Abia State, has officially submitted his Letters of Credence to King Felipe VI of Spain.....KINDLY READ THE FULL STORY HERE▶
This formal act solidifies his position as the diplomatic representative of the Federal Republic of Nigeria in the Kingdom of Spain. President Bola Tinubu approved Ikpeazu’s posting on March 6 alongside 64 other ambassadors, following their confirmation by the Senate last December.
Current Abia State Governor Alex Otti has congratulated his predecessor on the appointment, noting the significance of the role in serving the nation’s diplomatic interests and protecting Nigerian citizens within Spain.
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