The Socio-Economic Rights and Accountability Project (SERAP) has urged the Senate President, Godswill Akpabio to “direct the Senate’s Public Accounts Committee to publish the names and designations of all officials implicated in the alleged ₦200 trillion missing or unaccounted for from the Nigerian National Petroleum Company Limited (NNPCL), regardless of their social or political status.”
SERAP urged him to “direct the Committee to widely disclose details of the ongoing investigation, including audit reports, financial records, and official communications relied upon by the Committee, as well as the timelines for when any implicated officials should appear before it and for the conclusion of the investigation.”
SERAP also urged him to “direct the Public Accounts Committee to widely publish the complete records of the proceedings, including minutes, submissions, and evidence presented, to ensure transparency and enable Nigerians to independently scrutinise the evidence and process.”
The Public Accounts Committee is investigating allegations that about ₦200 trillion is missing from NNPCL’s accounts between 2017 and 2023. The Committee has raised concerns over unreconciled figures and lack of supporting documentation, yet several officials have failed to appear or provide satisfactory explanations.
In the letter dated 21 March 2026 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “Full disclosure of the ongoing investigation is essential to ensure transparency and accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts and investigation.”
SERAP said, “The allegations that ₦200 trillion is missing or unaccounted for, whether fully accurate or partly overstated, can only be taken seriously by Nigerians if the Senate is fully transparent in its ongoing investigation regarding the credibility, plausibility, and accuracy of the claims.”
According to SERAP, “Transparency regarding the ongoing investigation would prevent any perception of a cover-up or political compromise, and ensure that the facts are clearly established.”
The letter, read in part: “Providing complete and verifiable information would allow the public and oversight institutions to assess the situation objectively and determine where the truth lies regarding the allegations.”
“The magnitude of the sum, combined with the NNPCL’s history of opaque practices, underscores the urgency of a thorough, impartial, and transparent investigation.”
“Allowing these allegations to be ignored, delayed, or politicized risks normalizing impunity and diminishes the public’s right to know how national wealth is being managed.”
“There is a legitimate public interest in ensuring that all discrepancies are fully examined and that those responsible are identified and held to account, as part of a broader effort to strengthen governance and protect the nation’s economic future.”
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the Senate to comply with our request in the public interest.”
“The ongoing probe by the Public Accounts Committee into the alleged missing ₦200 trillion from the NNPCL has been dragging for an extended period, with repeated delays in the appearance of officials and slow progress in reconciling the disputed figures.”
“It is imperative that the Committee promptly concludes its investigation in a timely and transparent manner, with clear timelines for the appearance of implicated individuals and the publication of findings, so that accountability is achieved and Nigerians are able to fully understand the outcome.
“It is imperative that the Committee promptly concludes its investigation in a timely and transparent manner, with clear timelines for the appearance of implicated individuals and the publication of findings, so that accountability is achieved and Nigerians are able to fully understand the outcome.
“The NNPCL has long operated with significant opacity in its financial and operational activities, which has repeatedly limited public oversight and created fertile ground for corruption, mismanagement or misreporting.”
“Given the central role of the NNPCL in managing Nigeria’s primary source of revenue, the company ought to be held fully accountable for all funds under its stewardship.”
“Transparency in the operations of the NNPCL is a matter of public interest and public trust. Failure to ensure accountability regarding the allegations undermines confidence in the management of the country’s resources and increases the risk of financial impropriety going unchecked.”
“Given the scale of the figures involved and the public importance of the NNPCL, there have been growing calls for full disclosure of all relevant records, evidence and explanations to enable independent scrutiny by Nigerians.”
“Public institutions such as the Senate, exercising oversight over national resources, must do so in a manner that is transparent, accountable, and open to public scrutiny.”