The Socio-Economic Rights and Accountability Project (SERAP) has urged the Nigerian National Petroleum Company Limited (NNPCL) to account for the alleged missing $2.5 billion and N164 billion oil revenues.
This call was made following the release of the 2020 Auditor-General of the Federation's report, which documented the disappearance of these funds.
According to SERAP, the missing revenues have contributed to the country's dire economic situation, denying Nigerians access to basic public goods and services.
The organization has given the NNPCL a seven-day ultimatum to explain the whereabouts of the missing funds and to name and shame those responsible.
SERAP has also filed a lawsuit against the NNPCL, seeking an order of mandamus to direct and compel the company to account for the missing revenues.
The lawsuit also seeks to compel the NNPCL to hand over suspected perpetrators to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution.
The missing oil revenues have been a recurring issue in Nigeria, with the Auditor-General's report documenting several instances of disappeared funds.
SERAP has argued that the NNPCL's failure to account for these revenues is a grave violation of the Nigerian Constitution and national anti-corruption laws.
Key Issues Raised by SERAP include:
- Accountability and Transparency: SERAP has emphasized the need for the NNPCL to be transparent and accountable in its management of public funds.
- Economic Impact: The missing revenues have contributed to Nigeria's economic challenges, denying citizens access to essential public goods and services.
- Corruption and Impunity: SERAP has called for the prosecution of those responsible for the missing revenues, highlighting the need to tackle corruption and impunity in the country.
The NNPCL has yet to respond to SERAP's ultimatum, and it remains to be seen how the company will address the allegations.
The lawsuit filed by SERAP is ongoing, with the organization seeking to compel the NNPCL to account for the missing revenues.
As the situation unfolds, Nigerians will be watching closely to see how the government and the NNPCL respond to the allegations.
The case highlights the need for greater transparency and accountability in the management of public funds in Nigeria.
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