Editor
…….. Call for prosecution of perpetrators and recover the stolen funds
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to publish the names of companies and contractors who allegedly embezzled over N167 billion from 31 ministries, departments, and agencies (MDAs) without executing any projects.
This demand follows revelations in the 2021 audit report by the Office of the Auditor-General of the Federation.
In a letter dated November 30, 2024, SERAP’s Deputy Director, Kolawole Oluwadare, urged President Tinubu to instruct the Minister of Finance, Wale Edun, and the Accountant-General, Oluwatoyin Sakirat Madein, to disclose detailed information about the funds in question.
SERAP specifically requested details of the projects, their locations, the contractors involved, and the amounts each contractor received.
The organization emphasized that publishing the names of those implicated would deter future corruption and ensure accountability.
SERAP also called on the President to direct the Attorney General, Lateef Fagbemi, and anti-corruption agencies to prosecute the perpetrators and recover the stolen funds.
Among the MDAs implicated are the Nigerian Bulk Electricity Trading Plc. (NBET), Nigerian Correctional Service, National Pension Commission, and Federal Ministry of Youth and Sports Development. NBET alone reportedly disbursed N100 billion to contractors for unexecuted projects.
SERAP warned that failing to act decisively would allow corrupt entities to continue undermining the rule of law and socio-economic development. The organization highlighted how corruption imposes additional burdens on citizens, exacerbates inequality, and stifles economic progress.
“Bringing those responsible to justice is critical to restoring public trust and ensuring that funds meant for public projects are used effectively,” SERAP added.
