Socio-Economic Rights and Accountability Project, SERAP, has urged President Bola Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly probe the allegations that over N128 billion of public funds are missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading
The grave allegations are documented in the latest annual report published by the Auditor-General on 9 September 2025.
SERAP said, “Anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and remitted to the treasury.”
SERAP urged him to “use any recovered diverted funds to fund the deficit in the 2026 budget and to ease Nigeria’s crippling debt crisis.”
In the letter dated Sunday, by SERAP Deputy Director, Kolawole Oluwadare, the organisation said: “Nigerians continue to pay the price for the widespread and grand corruption in the power sector. There is a legitimate public interest in ensuring justice and accountability for these grave allegations.”
SERAP said, “Tackling corruption in the power sector would go a long way in addressing the persistent breakdown of transmission lines in the country, and improving access of Nigerians to regular and uninterrupted electricity supply.”
According to SERAP, “These allegations suggest a grave violation of the public trust, the Nigerian Constitution 1999 (as amended), the country’s anticorruption legislation and international anticorruption obligations.”
The letter, read in part: “According to the recently published 2022 audited report by the Auditor-General of the Federation, the Federal Ministry of Power failed to account for over N4.4 billion [N4,404,647,938.53] ‘transferred to Mambilla, Zungeru and Kashimbilla project accounts by the Ministry.’
“There was ‘no evidence of how the funds were expended.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.
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