SERAP Urges NNPC to Account for Missing $2.04 Billion and N164 Billion Oil Revenues

The Socio-Economic Rights and Accountability Project (SERAP) has called on the Nigerian National Petroleum Company (NNPC) Limited to “promptly account for and explain the whereabouts of the alleged missing USD$2.04 billion and N164 billion oil revenues.

” The allegations are documented in the latest annual report recently published by the Auditor-General of the Federation.

SERAP, in a statement by its Deputy Director, Kolawole Oluwadare, urged the Group Chief Executive Officer of the NNPC, Mele Kyari, to “name and shame those responsible for the disappeared oil money, surcharge them for the full amount involved, and hand them over to appropriate anti-corruption agencies, as provided for under paragraph 3112(ii) of the Financial Regulations 2009, and recommended by the Auditor-General.”

The call for accountability comes amidst growing concerns over the transparency and management of Nigeria’s oil revenues.

The NNPC, as a major player in the Nigerian oil and gas industry, is expected to adhere to the highest standards of transparency and accountability in its operations.

This development highlights the need for increased public scrutiny and oversight of the Nigerian oil and gas industry to ensure that the country’s resources are managed in a transparent and accountable manner for the benefit of all Nigerians.