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…
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to direct the Midstream and Downstream Gas Infrastructure Fund (MDGIF) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to investigate and account for over ₦94.4 billion in alleged misappropriated public funds. The allegations are detailed in the 2024 (Volume 2) Annual Report by the Auditor-General of the Federation, which was published on August 7, 2026.
According to the report, the money was either unremitted, unaccounted for, or spent irregularly between January and December 2023 and ending on December 31, 2024. SERAP urged the President to direct the relevant anti-corruption agencies to promptly investigate the matter, ensure the prosecution of those found responsible, and recover and remit all the affected funds.
The organization also requested the MDGIF to publish its audited financial statements for the years 2022, 2023, and 2024 and submit them to the Public Accounts Committees of the National Assembly, as recommended by the Auditor-General.
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