The Socio-Economic Rights and Accountability Project has called on President Bola Tinubu to order an immediate investigation into allegations that more than ₦128 billion in public funds was either missing or diverted within the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc.
In a letter dated January 3, 2026, and signed by its Deputy Director, Kolawole Oluwadare, SERAP said the allegations were based on findings contained in the 2022 annual report of the Auditor-General of the Federation, published on September 9, 2025.
The rights group urged the President to mandate the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), alongside relevant anti-corruption agencies, to investigate the claims and ensure that any misappropriated funds are recovered.
“Anyone found responsible should be prosecuted if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and returned to the treasury,” SERAP stated.
The organisation further advised that any recovered funds be used to address Nigeria’s fiscal challenges, including the 2026 budget deficit and the country’s rising debt burden.
According to SERAP, the allegations point to long-standing governance and accountability failures in the power sector, which continue to affect electricity supply nationwide.
“Nigerians are paying the price for widespread corruption in the power sector. There is a clear public interest in ensuring accountability and justice over these serious allegations,” the group said.
SERAP added that confronting corruption in the sector could help resolve recurring challenges such as the frequent collapse of transmission lines and unreliable electricity supply.
The organisation described the alleged infractions as a serious breach of public trust, noting that they raise constitutional and legal concerns under Nigeria’s anti-corruption laws and international obligations.
“These allegations suggest grave violations of the Nigerian Constitution, existing anti-corruption legislation, and Nigeria’s commitments under international anti-corruption conventions,” SERAP said.
Citing the Auditor-General’s report, SERAP noted that the Ministry of Power allegedly failed to account for over ₦4.4 billion transferred to the Mambilla, Zungeru, and Kashimbilla project accounts, with no evidence of how the funds were spent.
The report also reportedly flagged ₦95.4 billion paid to contractors without proper documentation or proof of project execution, as well as ₦33.5 million spent on foreign trips without the required approvals.
Other questioned expenditures include over ₦230 million on the GIGMIS platform, ₦282 million in non-personal advances said to exceed statutory limits, and several payments made without appropriate approvals or supporting records.
At NBET, the Auditor-General allegedly raised concerns over irregular contract awards, unexplained transfers into sub-accounts, payments without procurement approvals, and consultancy fees for services that may not have been rendered.
SERAP warned that failure by the government to act on the allegations could lead to legal action.
“We would appreciate confirmation that these measures are taken within seven days of the receipt or publication of this letter. Otherwise, SERAP will consider appropriate legal steps to compel compliance in the public interest,” the organisation said.
The group also referenced Nigeria’s obligations under the United Nations Convention against Corruption, stressing the government’s duty to combat corruption and uphold transparency and accountability in public finance management.
