SERAP Urges Tinubu To Order Probe Into Alleged ₦94.4bn Oil Fund Irregularities
The group says the Auditor-General’s report flagged missing remittances, unauthorized payments and possible diversion of funds meant for environmental remediation.
- The Socio-Economic Rights and Accountability Project gave President Bola Tinubu seven days to investigate alleged financial irregularities involving over ₦94.4 billion at two petroleum-sector institutions, warning of potential legal action if demands are not addressed.
- On Sunday, SERAP deputy director Kolawole Oluwadare stated these allegations were documented in the Auditor-General of the Federation's 2024 Annual Report, Volume 2, published on August 7, 2026.
- The report alleges the Midstream and Downstream Gas Infrastructure Fund and Nigerian Upstream Petroleum Regulatory Commission failed to remit ₦38.610 billion in gas-flaring penalties, while citing ₦3.518 billion paid to a consultant without presidential approval.
- SERAP demanded the government recover affected funds and prosecute those responsible. The group stated, "Anyone found responsible should be appropriately sanctioned," citing accountability requirements regardless of institutional affiliation.
- The Auditor-General warned that failing to remit penalties could leave insufficient funds for environmental remediation and increase the risk of unrest in affected communities if financial controls are not improved.
16 Articles
16 Articles
Nigeria: SERAP Gives Tinubu 7 Days to Account for N94.4bn Petroleum Revenues, Gas Flaring Penalties
The Socio-Economic Rights and Accountability Project (SERAP) has given President Bola Tinubu seven days to order an investigation and account for more than N94.4 billion in petroleum revenues and gas-flaring penalties allegedly diverted, left unremitted or unaccounted for, or spent irregularly.
Probe ₦94.4bn allegedly diverted, unremitted oil funds, SERAP tells Tinubu
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to direct the Midstream and Downstream Gas Infrastructure Fund (MDGIF), Abuja and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to urgently account for over ₦94.4 billion in public funds reportedly diverted, unremitted, unaccounted for or irregularly spent.” The grave allegations are documented in […]
Auditor-General flags N94.4bn oil funds, SERAP demands probe
By Francis Ajuonuma The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to order an immediate investigation into more than N94.4 billion in petroleum-sector funds allegedly diverted, unremitted, unaccounted for or irregularly spent. SERAP made the demand in a letter dated October 3, 2026, signed by its Deputy Director, Kolawole …
SERAP Gives Tinubu Seven Days To Probe N94.4bn Petroleum Sector Funds
By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has given President Bola Tinubu seven days to act on alleged financial irregularities involving more than N94.4 billion at the Midstream and Downstream Gas Infrastructure Fund (MDGIF) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). SERAP urged the President to direct relevant anti-corruption agencies to […]
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