SERAP to NNPCL: Account for Missing N825bn, $2.5bn for Refinery Repairs, Invites EFCC, ICPC

 

The Socio-Economic Rights and Accountability Project (SERAP) has called upon Mr. Mele Kolo Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPCL) Limited, to provide a detailed account of the whereabouts of N825 billion and $2.5 billion, which were allegedly misappropriated for the rehabilitation of refineries and other oil revenues. This demand stems from the 2021 annual report by the Auditor-General of the Federation, which was published on November 27, 2024.

 SERAP has requested that Mr. Kyari identify and surrender to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) those suspected of being involved in the disappearance of these funds.

In a letter dated January 4, 2025, and signed by SERAP's deputy director, Kolawole Oluwadare, the organization commended Mr. Kyari's public invitation to former President Olusegun Obasanjo to tour Nigeria's refineries.

 SERAP emphasized the importance of transparency and accountability, urging Mr. Kyari to formally extend this invitation to the EFCC and ICPC to monitor the operations and expenditures of the refineries, including those in Port Harcourt and Warri. 

The organization highlighted that such an invitation is not disrespectful, as claimed by the former president, but rather a necessary step in upholding the law and ensuring public trust.

SERAP's letter further stated that the allegations of missing funds represent a severe breach of public trust and contravene the Nigerian Constitution, national anti-corruption laws, and international obligations. The organization underscored the detrimental impact of these allegations on Nigeria's economic development, exacerbating poverty and depriving citizens of opportunities.

 SERAP has given the NNPCL seven days to comply with their requests, warning that failure to do so would prompt legal action to compel transparency and accountability in the public interest.