- SERAP has called on President Bola Tinubu to order an urgent probe into allegations that ₦128 billion is missing from the Ministry of Power and NBET, citing findings from the Auditor-General’s report.
- The revelation has sparked public outrage and renewed calls for accountability in Nigeria’s power sector.
The Socio-Economic Rights and Accountability Project (SERAP) has raised alarm over the alleged disappearance of ₦128 billion from Nigeria’s Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET), calling on President Bola Tinubu to order an immediate investigation.
The allegation is contained in a report referenced by SERAP, which claims that the funds—equivalent to about $88 million—are either missing or were diverted without proper accountability. The figures were reportedly documented in the Auditor-General of the Federation’s annual report published in September 2025.
In a public statement, SERAP urged the President to direct the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), alongside relevant anti-corruption agencies, to probe the matter and ensure recovery of any misappropriated public funds.
According to SERAP, the alleged missing funds are linked to the Ministry of Power and NBET, an agency responsible for purchasing electricity from generation companies and selling it to distribution companies—making it a critical institution in Nigeria’s electricity value chain.
The advocacy group stressed that failure to investigate the allegations would undermine transparency and worsen public distrust, particularly amid Nigeria’s ongoing electricity challenges and persistent power supply shortages.
Following the report, Nigerians took to social media to express outrage, questioning how such a large sum could go unaccounted for in a sector already plagued by inefficiency.
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