Account for ₦126bn ‘missing’ electoral funds, SERAP tells INEC

The Socio-Economic Rights and Accountability Project (SERAP) has demanded that the Independent National Electoral Commission (INEC) account for over ₦126.46 billion in public funds used for electoral operations, which they allege have been "diverted, lost, mismanaged, or unaccounted for." This request comes in a statement released on September 12, 2026, by SERAP's Deputy Director, Kolawole Oluwadare.

The funds in question relate to the procurement of ballot boxes, electoral devices, materials, and other goods and services needed for elections.

Serap referenced the 2023 audited report by the Auditor-General of the Federation, which covered the period from January to December 2022, with some data stretching to December 31, 2023. SERAP urged INEC, chairman Prof Joash Amupitan, and the commission to provide details about the funds, including the recipients, contracts, procurement processes, contractors, and current status.

They also asked INEC to refer any alleged financial misconduct to the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for investigation and prosecution.

Serap emphasized that electoral resources are public funds and that INEC must account for every naira spent, demonstrating that it was lawfully spent and served its intended purpose. They expressed concern over the Auditor-General's findings, which showed irregular payments for ballot boxes, electoral devices, sensitive materials, result sheets, and financial audit services without competitive bidding or proper documentation.

SERAP urged INEC to ensure that any electoral equipment or public assets covered by the Auditor-General's findings are not disposed of or destroyed until accountability and recovery are complete.