SERAP Issues 7-Day Ultimatum to Senate President Akpabio Over NNPCL Probe
The Socio-Economic Rights and Accountability Project (SERAP) has issued a stringent seven-day ultimatum to Senate President Godswill Akpabio, compelling him to direct the Senate’s Public Accounts Committee to reveal the identities of all officials implicated in the alleged disappearance or unaccounted funds from the Nigerian National Petroleum Company Limited (NNPCL). This demand comes amid an ongoing investigation into discrepancies estimated at a staggering ₦200 trillion in NNPCL’s accounts spanning from 2017 to 2023.
Demands for Full Transparency and Publication of Documents
In a letter dated March 21, 2026, and signed by SERAP’s deputy director, Kolawole Oluwadare, the organization emphasized that transparency is paramount to the credibility of the investigation. SERAP is calling for the complete publication of all documents and materials related to the probe, including audit reports, financial records, and official communications utilized by the committee. The group asserts that such disclosure is essential to prevent political interference and enable Nigerians to independently scrutinize the facts.
“Full disclosure of the ongoing investigation is critical to ensure transparency and accountability, prevent political interference, and allow Nigerians to independently scrutinize the facts,” the letter stated. SERAP highlighted that the scale of the alleged discrepancy, estimated between ₦200 trillion and ₦210 trillion, necessitates a thorough, impartial, and open process to maintain public confidence.
Concerns Over Delays and Lack of Progress
SERAP expressed serious concerns about the prolonged nature of the investigation, noting repeated delays in the appearance of officials and slow progress in reconciling the disputed figures. The organization warned that continued delays could undermine public trust and increase the risk of evidence being lost or distorted. To address these issues, SERAP has called for immediate action, including the publication of names and positions of all individuals under investigation, regardless of their political or social status.
The ongoing probe by the Public Accounts Committee has been dragging for an extended period, with repeated delays in the appearance of officials and slow progress in reconciling the disputed figures, SERAP noted. The group also urged the committee to release full records of its proceedings, such as transcripts, submissions, and evidence presented, to enhance transparency.
Specific Measures and Legal Threats
SERAP has outlined several specific measures to ensure accountability, including:
- Clarity on the scope, terms of reference, and methodology of the investigation.
- A clear timeline for the appearance of implicated officials and the conclusion of the inquiry.
- Publication of all relevant documents to prevent any perception of a cover-up.
“The magnitude of the sum, combined with the NNPCL’s history of opaque practices, underscores the urgency of a transparent investigation,” SERAP emphasized. The organization added that failure to ensure accountability could weaken public trust in the management of Nigeria’s oil revenues and encourage financial mismanagement.
SERAP has warned that if its recommendations are not implemented within seven days of the receipt or publication of the letter, it will initiate legal action to compel compliance in the public interest. This ultimatum highlights the critical importance of the NNPCL, Nigeria’s state-owned oil company, which plays a central role in managing the country’s primary source of revenue, making the outcome of this investigation a matter of significant national importance.
