SERAP urges Tinubu to investigate missing subsidy payments and unremitted funds, threatens legal action
News

SERAP urges Tinubu to investigate missing subsidy payments and unremitted funds, threatens legal action

The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to initiate a thorough investigation into the allegations of missing oil revenue funds.

SERAP has requested the President to establish a presidential panel of inquiry to promptly examine the claims that $2.1 billion and ₦3.1 trillion in public funds, allocated for fuel subsidy payments between 2016 and 2019, are unaccounted for.

The Auditor-General of the Federation has documented these allegations.

SERAP has urged President Tinubu to publicly identify and shame individuals suspected of involvement in the alleged widespread corruption related to oil revenues and the management of public funds designated for fuel subsidy.

Furthermore, the organization has called for the effective prosecution of these individuals and the full recovery of any proceeds of crime.

ALSO READ: SERAP calls on World Bank to halt $800 million loan disbursement to Nigerian government

In addition, SERAP has emphasized the need for a comprehensive and transparent investigation into all fuel subsidy payments made by successive governments since the restoration of democracy in 1999.

The organization has recommended that any recovered proceeds of crime be utilized as palliatives to alleviate the impact of subsidy removal on impoverished Nigerians.

In a letter dated June 3, 2023, and signed by SERAP’s deputy director, Kolawole Oluwadare, the organization states that there is a legitimate public interest in ensuring justice and accountability for these serious allegations.

SERAP emphasizes that economic growth and sustainability can only be achieved through accountability for these human rights violations.

The organization further warns against the arbitrary removal of fuel subsidy without addressing the unresolved accountability issues surrounding the alleged mismanagement of oil revenues and subsidy payments.

It argues that such a move would perpetuate poverty among the poor while allowing high-profile officials and non-state actors to escape punishment for their crimes.