SERAP Gives NNPC 7 Days to Explain $22B Flagged Oil Funds Amid Corruption Concerns

The Socio-Economic Rights and Accountability Project (SERAP) has given the Nigerian National Petroleum Corporation (NNPC) seven days to provide a detailed explanation for the flagged $22 billion oil revenue highlighted in the Auditor General's 2022 annual report. SERAP is concerned about several transactions involving significant amounts of oil-related income and has urged NNPC's Chief Executive, Bayo Ojulari, to ensure transparency and accountability.

The group is calling for the recovery of misappropriated funds and a redirection of resources to vital sectors like education and healthcare. Failure to respond may lead to legal action as per constitutional obligations.