Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
Abuja/Lagos — The Socio‑Economic Rights and Accountability Project (SERAP) has called on Senate President Godswill Akpabio to compel the Senate’s Public Accounts Committee (PAC) to publicly disclose the names, positions, and details of all officials implicated in the ongoing probe into the alleged ₦210 trillion in unaccounted or unexplained funds from the Nigerian National Petroleum Company Limited (NNPCL). The civil society organisation said transparency is critical to restore public confidence and ensure accountability in the management of the nation’s oil revenues.
In a letter dated March 21, 2026, and signed by SERAP Deputy Director Kolawole Oluwadare, the group urged Akpabio to direct the PAC to release not only the names and job titles of implicated individuals but also a comprehensive set of records related to the investigation. This includes audit reports, financial documents, official correspondence, minutes of committee proceedings, submissions, evidence presented during hearings, and clear timelines for when those named are expected to appear before the committee and when the probe will conclude. SERAP said this information should be made widely accessible to the public to allow independent scrutiny of the investigation.
The organisation emphasised that public disclosure would help dispel perceptions of political interference, selective accountability, or cover‑ups and would reinforce citizens’ right to know how national resources are managed. SERAP has given the Senate leadership a seven‑day window from the publication of its letter to comply, warning that it could pursue legal action to compel disclosure if the demands are not met.
SERAP’s demand follows a controversial financial inquiry into NNPCL’s accounts from 2017 to 2023, during which auditors flagged discrepancies totalling approximately ₦210 trillion. These figures relate to categories such as joint venture costs, operational expenses, receivables, and financial obligations that could not be reconciled with supporting documentation, raising questions about financial management and oversight.
Previous PAC hearings revealed that top NNPCL officials had repeatedly failed to provide satisfactory explanations or appear for questioning. Lawmakers described the financial entries as contradictory, economically implausible, and lacking proper documentation. The committee’s investigations have faced delays, fuelling public frustration over accountability in Nigeria’s most important revenue-generating sector.
SERAP stressed that full disclosure is necessary to prevent impunity, ensure equality before the law, and uphold international anti-corruption standards. The group also noted that without transparency, there could be perceptions that some individuals are being protected due to social, political, or economic influence, undermining public trust in government institutions.
Civil society experts have highlighted that the NNPCL probe reflects broader concerns about financial opacity within Nigeria’s oil sector, where unaccounted or unexplained sums have been flagged repeatedly over the years, including cases involving unremitted funds and discrepancies in subsidy and revenue streams.
Observers note that the outcome of SERAP’s demand could have significant implications for legislative oversight and public finance governance. Making the names and positions of officials involved publicly available would strengthen accountability and reinforce citizens’ right to monitor the management of national resources.
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