Missing ₦200 Trillion: SERAP Gives Akpabio 7 Days to Name Officials Involved in NNPCL Probe

The Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to Senate President Godswill Akpabio, urging him to direct the Senate’s Public Accounts Committee to disclose the identities of officials implicated in the alleged missing or unaccounted funds from the Nigerian National Petroleum Company Limited (NNPCL).

The group is also demanding the full publication of documents and materials related to the ongoing probe, including audit reports, financial records, and official communications relied upon by the committee.

The Senate panel is currently investigating discrepancies estimated at ₦200 trillion in NNPCL’s accounts between 2017 and 2023. Lawmakers have raised concerns over unreconciled figures and a lack of supporting documentation, while several officials have reportedly failed to appear before the committee or provide satisfactory explanations.

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In a letter dated March 21, 2026, and signed by SERAP’s deputy director, Kolawole Oluwadare, the organisation said transparency is critical to the credibility of the investigation.

“Full disclosure of the ongoing investigation is essential to ensure transparency and accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts,” the letter stated.

SERAP noted that the scale of the alleged discrepancy, estimated at between ₦200 trillion and ₦210 trillion, requires a thorough, impartial, and open process. It added that whether the figures are entirely accurate or partly overstated, public confidence depends on how transparently the Senate handles the probe.

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The organisation warned that continued delays in the investigation could undermine trust and increase the risk of evidence being lost or distorted.

“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 said.

To address these concerns, SERAP called for the immediate publication of the names and positions of all individuals under investigation, regardless of their political or social status. It also urged the committee to release full records of its proceedings, including transcripts, submissions, and evidence presented.

The group further requested clarity on the scope, terms of reference, and methodology of the investigation, as well as a clear timeline for the appearance of implicated officials and the conclusion of the inquiry.

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According to SERAP, such measures would help prevent any perception of a cover-up and reinforce public confidence in the process.

“The magnitude of the sum, combined with the NNPCL’s history of opaque practices, underscores the urgency of a transparent investigation,” the organisation said.

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It added that failure to ensure accountability could weaken public trust in the management of Nigeria’s oil revenues and encourage financial mismanagement.

SERAP warned that if its recommendations are not implemented within seven days of the receipt or publication of the letter, it would initiate legal action to compel compliance in the public interest.

The NNPCL, Nigeria’s state-owned oil company, plays a central role in managing the country’s primary source of revenue, making the outcome of the investigation a matter of significant national importance.