The Socio-Economic Rights and Accountability Project (SERAP) has urged Godswill Akpabio to direct the Senate’s Public Accounts Committee to publish the names and designations of officials implicated in the alleged ₦200 trillion missing or unaccounted for from the Nigerian National Petroleum Company Limited.
In a letter dated March 21, 2026, and signed by its deputy director, Kolawole Oluwadare, SERAP called for full disclosure of the ongoing investigation, including audit reports, financial records, and official communications relied upon by the committee.
The organization also asked that timelines be made public, specifying when implicated officials are expected to appear before the panel and when the probe will be concluded.
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SERAP further urged the Senate leadership to ensure that complete records of proceedings such as minutes, submissions, and evidence presented are published to enable Nigerians to independently scrutinise the process.
The Senate’s Public Accounts Committee is currently investigating allegations that about ₦200 trillion is missing from NNPCL accounts between 2017 and 2023. Lawmakers have raised concerns over unreconciled figures and inadequate supporting documentation, while several officials reportedly failed to appear or provide satisfactory explanations.
SERAP stressed that transparency is critical to ensuring accountability and preventing political interference. It noted that the scale of the allegations, whether fully accurate or overstated, requires openness to establish credibility and public trust.
According to the group, failure to disclose details of the probe could fuel perceptions of a cover-up or political compromise. It added that making information publicly available would allow citizens and oversight bodies to objectively assess the claims.
“The magnitude of the sum, combined with NNPCL’s history of opaque practices, underscores the urgency of a thorough and impartial investigation,” the letter stated.
SERAP warned that delays in the probe marked by repeated adjournments and non-appearance of invited officials risk undermining public confidence and could lead to loss or distortion of key evidence.
The organisation gave the Senate seven days to act on its recommendations or face legal action to compel compliance in the public interest.
The group also emphasised that NNPCL, as custodian of Nigeria’s primary revenue source, must be held fully accountable for funds under its management. It argued that transparency in the company’s operations is essential to safeguarding public trust and preventing financial impropriety.
The ongoing probe was triggered by audit findings covering 2017 to 2023, which reportedly flagged about ₦210 trillion in entries that lawmakers said were not properly reconciled. The figures include approximately ₦103 trillion in joint venture and operational costs, and ₦107 trillion in receivables, subsidies, and other obligations.
Lawmakers have described several submissions by NNPCL as inconsistent, prompting further scrutiny. Despite multiple summons, some current and former officials of the company have yet to appear before the committee or provide detailed explanations.
The investigation remains ongoing as the Senate seeks to determine whether the discrepancies stem from accounting complexities or possible financial mismanagement.
