Demand openness in Senate's investigation of NNPCL's ₦200 trillion dealings, SERAP urges

The Socio-Economic Rights and Accountability Project has called upon Senate President Godswill Akpabio to instruct the Senate's Public Accounts Committee to release all details of its ongoing probe into the alleged misappropriation of ₦200 trillion from the Nigerian National Petroleum Company Limited.

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This request was made in a letter dated March 21, signed by SERAP deputy director Kolawole Oluwadare, which also urged Akpabio to disclose the names and designations of all officials implicated in the alleged financial irregularities, regardless of their social or political status.

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Additionally, SERAP has requested that the Senate make public the audit reports, financial records, official communications, and committee proceedings, including minutes, submissions, and evidence presented, as well as timelines for the appearance of implicated officials and the conclusion of the investigation.

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The Public Accounts Committee's investigation into the alleged missing ₦200 trillion from the NNPCL has been ongoing for an extended period, with repeated delays in the appearance of officials and slow progress in reconciling the disputed figures, which undermines public confidence in the investigative process.

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Such delays also create the risk of key evidence being lost or distorted, according to SERAP, which is investigating allegations that about ₦200 trillion went missing or remained unaccounted for in the NNPCL's accounts between 2017 and 2023.

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The discrepancies involve roughly ₦103 trillion in joint venture costs and operational expenses, and about ₦107 trillion in receivables, subsidies, and other financial obligations, highlighting the need for transparency in the investigation.

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Transparency regarding the ongoing investigation would prevent any perception of a cover-up or political compromise, and ensure that the facts are clearly established, while full disclosure is essential to ensure accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts and investigation.

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Failure to act could normalise impunity and diminish the public's right to know how national wealth is being managed, warned SERAP, which requested that the recommended measures be taken within seven days of receipt of the letter.

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If the Senate does not comply, legal action may follow, with SERAP citing legal frameworks supporting public oversight, including Section 15(5) of the Nigerian Constitution and Section 85(5), which empowers the National Assembly to summon individuals and documents necessary for legislative oversight.

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SERAP also referenced Articles 5 and 9 of the UN Convention against Corruption and Article 21 of the African Charter on Human and Peoples' Rights, which safeguard citizens' rights to resources and demand accountability in the management of national wealth.

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The magnitude of the sum, combined with the NNPCL's history of opaque practices, underscores the urgency of a thorough, impartial, and transparent investigation, according to SERAP, which called for proactive disclosure of the audit reports, financial records, and official communications.

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Several current and former NNPCL officials have failed to appear before the committee or provide satisfactory explanations, prompting concerns about transparency in the management of the country's natural wealth, and SERAP urged the Senate to set clear timelines for the appearance of implicated individuals and for the conclusion of the inquiry.

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The organisation also called for the full publication of the committee's records, including the minutes, submissions, and evidence, to prevent misrepresentation or suppression of facts, and stressed that transparency would reinforce equality before the law, prevent political interference, and restore public trust in the oversight process.

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Without this information, it is difficult for the public to determine whether the inquiry is sufficiently comprehensive, impartial, and capable of addressing the issues raised by the audit findings, according to SERAP, which concluded by urging Akpabio and the Senate to take decisive action within seven days.

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The letter warned that legal steps would follow to compel compliance if the recommendations were not implemented, highlighting the importance of transparency and accountability in the investigation into the alleged missing ₦200 trillion from the NNPCL.