SERAP Urges Senate for Transparency in ₦200tn NNPCL Probe

The Socio-Economic Rights and Accountability Project (SERAP) has called on the Nigerian Senate, under the leadership of President Godswill Akpabio, to ensure transparency in the investigation of alleged mismanagement of ₦200 trillion by the Nigerian National Petroleum Company Limited (NNPCL). In a letter dated March 21, signed by SERAP's Deputy Director Kolawole Oluwadare, the organization requested that the Senate's Public Accounts Committee fully disclose details of the ongoing investigation into the alleged misappropriation of funds from 2017 to 2023.

SERAP highlighted discrepancies involving approximately ₦103 trillion in joint venture costs and ₦107 trillion in operational expenses. The organization warned that failure to act could lead to a loss of public trust and called for a public audit report, including the names of implicated officials.

SERAP emphasized the importance of transparency and accountability in managing the nation's wealth and threatened legal action if the Senate did not comply with their recommendations within seven days.