The Socio-Economic Rights and Accountability Project has urged President Bola Tinubu to order an immediate investigation into allegations that over ₦128 billion in public funds is missing or was diverted from the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc.
SERAP made the call in a letter dated January 3, 2026, signed by its Deputy Director, Kolawole Oluwadare, citing findings contained in the 2022 annual report of the Auditor-General of the Federation, published on September 9, 2025.
The organisation, in the letter obtained by our correspondent, asked 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 allegations and ensure recovery of the funds.
“Anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and remitted to the treasury,” SERAP said.
It further urged that any recovered funds be channelled towards addressing fiscal gaps.
SERAP said the President should “use any recovered diverted funds to fund the deficit in the 2026 budget and to ease Nigeria’s crippling debt crisis.”
According to the rights group, the alleged financial infractions highlight deep-rooted governance failures in Nigeria’s power sector.
“Nigerians continue to pay the price for the widespread and grand corruption in the power sector.
“There is a legitimate public interest in ensuring justice and accountability for these grave allegations,” the letter read.
SERAP argued that confronting corruption in the sector would help resolve persistent electricity challenges.
“Tackling corruption in the power sector would go a long way in addressing the persistent breakdown of transmission lines in the country, and improving access of Nigerians to regular and uninterrupted electricity supply,” it stated.
The organisation described the allegations as a serious breach of public trust, warning that they raise constitutional and legal concerns.
“These allegations suggest a grave violation of the public trust, the Nigerian Constitution 1999 (as amended), the country’s anticorruption legislation and international anticorruption obligations,” SERAP said.
According to excerpts from the Auditor-General’s report cited by SERAP, 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 expended.”
The report also flagged ₦95.4 billion paid to contractors without documentation or proof that the projects were executed, as well as ₦33.5 million spent on foreign travels without approvals from the Secretary to the Government of the Federation or the Head of Civil Service.
Other questionable expenditures highlighted include over ₦230 million spent on the GIGMIS platform, ₦282 million in non-personal advances allegedly exceeding statutory thresholds, and multiple payments lacking approvals or supporting records.
At the Nigerian Bulk Electricity Trading Plc., the Auditor-General reportedly raised concerns over irregular contract awards, unexplained transfers into sub-accounts, payments lacking procurement approvals, and consultancy fees for services allegedly not rendered.
In total, the allegations span contract awards, consultancy services, travel expenses, vehicle procurement, legal fees, staff training, and welfare-related spending, with the Auditor-General repeatedly warning that the funds “may have been diverted” or “misapplied.”
SERAP warned that failure to act could attract legal consequences.
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest,” the organisation said.
The group also cited constitutional provisions and Nigeria’s obligations under the United Nations Convention against Corruption, stressing the government’s duty to abolish corruption and ensure accountability.
