SERAP Demands Answers: NNPC Given Seven Days to Account for Missing Billions

SERAP Demands Answers: NNPC Given Seven Days to Account for Missing Billions

In a bold move, the Socio-Economic Rights and Accountability Project (SERAP) has taken decisive action against the Nigerian National Petroleum Company (NNPC), demanding accountability for allegedly missing billions of dollars in oil revenues. With mounting concerns over transparency and financial integrity, SERAP has given the NNPC just seven days to provide answers……READ ALSO SERAP Demands Fiscal Responsibility: Calls On Akpabio And Abbas To Slash NASS Budget By N344.85bn

According to SERAP, the staggering sum of USD$2.04 billion and N164 billion in oil revenues has seemingly vanished, as revealed in the latest annual report by the Auditor-General of the Federation. The organization is calling on Mele Kolo Kyari, the Group Chief Executive Officer of NNPC, to swiftly address these alarming allegations and ensure full disclosure of the missing funds.

In a strongly worded letter dated 17th February 2024, SERAP’s deputy director, Kolawole Oluwadare, emphasized the profound impact of the missing oil revenues on Nigeria’s economy. He highlighted the detrimental effects on public services and the well-being of citizens, stressing the urgent need for accountability and restitution.

SERAP’s demands are clear: the NNPC must identify those responsible for the disappearance of these funds, recover the full amount, and promptly remit it into the Federation Account. Failure to comply within the stipulated timeframe will compel SERAP to pursue legal action to uphold transparency and the public interest.

The allegations of missing oil revenues cast a dark shadow over Nigeria’s economic landscape, raising serious questions about governance, integrity, and the management of public resources. With the country grappling with poverty and inequality, the need for accountability and responsible stewardship has never been more pressing.

As SERAP continues its fight for transparency and good governance, it sends a clear message: those entrusted with public office must be held to the highest standards of accountability, and the Nigerian people deserve nothing less than full transparency and integrity in the management of their resources.