By Kingston Magare 22.3.2026
Socio-Economic Rights and Accountability Project (SERAP) has urged the Senate president Godswill Akpabio to make public the list of individuals linked with alleged misappropriation of ₦200 trillion at the Nigerian National Petroleum Company Limited.
SERAP said in a statement Sunday there should be no secrecy and no shielding of individuals and organisations involved in the alleged financial discrepancies.
The civil society group also called for the release of key documents tied to the investigation. These include audit reports, financial statements, and official correspondences reviewed by the Senate public account committee currently investigating the claims that about ₦200 trillion cannot be accounted for in NNPCL’s records between 2017 and 2023.
Lawmakers have raised concerns over inconsistencies in the figures, as well as missing supporting documents. The probe has also been slowed by the failure of some officials to honour invitations or provide clear explanations.
“Full disclosure of the ongoing investigation is essential to ensure transparency and accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts and investigation,” said SERAP deputy director Kolawole Oluwadare, in the letter to the Senate president.
“The allegations that ₦200 trillion is missing or unaccounted for, whether fully accurate or partly overstated, can only be taken seriously by Nigerians if the Senate is fully transparent in its ongoing investigation regarding the credibility, plausibility, and accuracy of the claims.”
The organisation maintained that openness would remove any suspicion of compromise or cover-up.
“Transparency regarding the ongoing investigation would prevent any perception of a cover-up or political compromise, and ensure that the facts are clearly established.”
It further argued that making verified information public would help oversight bodies and citizens assess the situation without bias.
“Providing complete and verifiable information would allow the public and oversight institutions to assess the situation objectively and determine where the truth lies regarding the allegations.
“The magnitude of the sum, combined with the NNPCL’s history of opaque practices, underscores the urgency of a thorough, impartial, and transparent investigation.
“Allowing these allegations to be ignored, delayed, or politicized risks normalizing impunity and diminishes the public’s right to know how national wealth is being managed.”
The group gave the Senate a seven-day window to act on its demands. It said legal steps would follow if there is no response within that period.
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the Senate to comply with our request in the public interest.”
SERAP also expressed concern over delays in the investigation. It noted that repeated postponements and poor attendance by invited officials are slowing down progress and weakening confidence in the process.
“The ongoing probe by the Public Accounts Committee into the alleged missing ₦200 trillion from the NNPCL has been dragging for an extended period, with repeated delays in the appearance of officials and slow progress in reconciling the disputed figures.
“Such delays undermine public confidence in the investigative process and create the risk of key evidence being lost or distorted.”
The group insisted that the committee must act quickly and conclude its work within a clear timeframe.
“It is imperative that the Committee promptly concludes its investigation in a timely and transparent manner, with clear timelines for the appearance of implicated individuals and the publication of findings, so that accountability is achieved and Nigerians are able to fully understand the outcome.”
SERAP also pointed to long-standing concerns around transparency within the NNPCL, describing the current situation as part of a broader pattern.
“The NNPCL has long operated with significant opacity in its financial and operational activities, which has repeatedly limited public oversight and created fertile ground for corruption, mismanagement or misreporting.”
It added that openness in the current probe would help rebuild public trust.
“Transparency in this regard would help build public confidence that the investigation is not being shaped by political considerations or undue influence.”
Tensions between the Senate and the NNPCL have continued to rise. Several officials reportedly failed to honour invitations from the committee or provide detailed responses to audit queries.