By Olusegun Olanrewaju
Transparency group, Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to set up a presidential panel of inquiry to promptly probe the grim allegations that over US$15bn of oil revenues, and N200bn budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI).
SERAP urged him to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as the full recovery of any proceeds of crime.”
SERAP also urged him “to fully implement all the recommendations by NEITI in its 2021 report, and to use any recovered proceeds of crime.”
In the letter dated 23 September 2023 and signed by SERAP deputy director, Kolawole Oluwadare, the organisation said, “There is a legitimate public interest in ensuring justice and accountability for these serious allegations. Taking these important measures would end the impunity of perpetrators.”
SERAP said, “As President and Minister of Petroleum Resources, your office ought to be concerned about these damning revelations, by getting to the bottom of the allegations and ensuring that suspected perpetrators are promptly brought to justice, and any missing public funds fully recovered.
The letter read in part, “Any failure to investigate these grave allegations, bring suspected perpetrators to justice, and recover any missing public funds would have serious resource allocation and exacerbate the country’s debt burden.
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“It would also create cynicism, suspicion, and eventually citizens’ distrust about the ability of your government to combat high-level official corruption, as well as deter foreign investment and limit growth and development.
“We would therefore be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.
“The findings by NEITI suggest a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anti-corruption laws, and the country’s obligations under the UN Convention against Corruption.
“The allegations of corruption documented by NEITI undermine the economic development of the country, trap the majority of Nigerians in poverty, and deprive them of opportunities.
“Your government has a constitutional duty to ensure transparency and accountability in the spending of the country’s wealth and resources.
“According to the 2021 report by the Nigeria Extractive Industries Transparency Initiative (NEITI), government agencies including the Nigerian Petroleum Development Company (NNPC) and the Nigerian Upstream Petroleum Regulatory Commission (NPDC) failed to remit $13.591m and $8.25bn to the public treasury.
“The NNPC and NPDC failed to remit over 70 per cent of these public funds. NEITI wants both the NNPC and NPDC to be investigated, and for the missing public funds to be fully recovered.
“The report also shows that in 2021, the State Owned Enterprises (SOE) and its subsidiaries (the NNPC Group) reportedly spent US$ 6.931bn on behalf of the Federal Government but without appropriation by the National Assembly. The money may be missing.
“The NNPC also reportedly obtained a loan of $3bn in 2012 purportedly to settle subsidy payments due to petroleum product marketers but there is no disclosure of the details of the loan, subsidy, and the beneficiaries of the payments.
“The report also shows that N9.73bn was paid to the NNPC as pipeline transportation revenue earned from Joint Venture operations but the money was neither remitted to the Federation nor properly accounted for. The NPDC in 2021 also failed to remit $7.61m realised from the sale of crude oil.
“The report documents that about N200bn was spent on refineries rehabilitation between 2020 and 2021 but “none of the refineries was operational in 2021 despite the spending.’ NEITI wants the spending to be investigated, as the money may be missing.
“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on your government to conform to, observe, and apply the provisions of Chapter 2 of the constitution. Section 15(5) imposes the responsibility on your government to ‘abolish all corrupt practices and abuse of power’ in the country.
“Under Section 16(1) of the Constitution, your government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen based on social justice and equality of status and opportunity.”
