The Nigerian Ministry of Power has issued a firm response to calls for an investigation into the alleged disappearance or diversion of over N128 billion in public funds, stating that the audit report in question relates to a period before the current administration.
SERAP's Call for a Probe
This development follows a statement released on Sunday, January 6, 2026, by the Socio-Economic Rights and Accountability Project (SERAP). The organization urged President Bola Ahmed Tinubu to direct the Attorney General of the Federation, Lateef Fagbemi, SAN, and relevant anti-corruption agencies to probe the allegations. SERAP's request was based on findings from an audit report which raised serious concerns about financial accountability within the Ministry of Power and the Nigerian Bulk Electricity Trading Plc. (NBET) in Abuja.
Ministry's Clarification on Timeline
In a swift rebuttal, the Office of the Minister of Power, through a statement signed by the Special Adviser on Strategic Communications, Bolaji Tunji, clarified the timeline of the audit. The ministry emphasized that the report scrutinized by SERAP strictly covers the 2022 financial year.
This period predates both the inauguration of President Tinubu's administration and the appointment of the incumbent Minister of Power, Adebayo Adelabu. Consequently, the ministry asserts that the issues highlighted have no connection to its operations under the present leadership.
Official Statement and Implications
The ministry's official statement read, in part: “Our attention has been drawn to the call by SERAP...” The clarification aims to distance the current minister and his team from the financial discrepancies flagged in the 2022 audit. This move is seen as an effort to maintain the integrity of the ministry's current operations while acknowledging the need for accountability for past events.
The situation underscores ongoing challenges with financial transparency in Nigeria's power sector, a critical area for the nation's economic development. While the ministry has clarified the timeline, the audit findings themselves concerning the N128 billion remain a significant point of public interest and scrutiny.
