SERAP has called on Mele Kyari, the CEO of NNPCL, to provide an account for the missing N825bn and $2.5bn intended for refinery repairs and other oil revenues. They are urging him to identify those responsible for the disappearance of these funds.
Background of the Challenge
SERAP has formally requested that Mele Kyari, the Group Chief Executive Officer of NNPCL, explain the missing funds.
The funds in question, N825 billion and $2.5 billion, were earmarked for refinery rehabilitation and other oil revenues.
This challenge is based on findings from the 2021 annual report published by the Auditor-General of the Federation.
Key Demands from SERAP
SERAP has urged Kyari to:
Identify individuals suspected of being responsible for the missing funds.
Hand over these individuals to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC).
Officially invite former President Olusegun Obasanjo to tour Nigeria’s refineries, including the Port Harcourt and Warri refineries, with oversight from the EFCC and ICPC.
Concerns Raised by SERAP
The organization highlighted that the allegations suggest a serious violation of public trust and constitutional provisions.
They emphasized that the disappearance of these funds has detrimental effects on Nigeria's economic development, contributing to widespread poverty and limiting opportunities for citizens.
SERAP has requested that the recommended actions be taken within seven days, warning that failure to respond may lead to legal action to compel compliance.
Auditor-General's Findings
The Auditor-General's report indicates that NNPCL failed to account for significant amounts of public funds, including:
Over N825 billion and $2.5 billion for refinery rehabilitation.
Additional amounts related to outstanding royalties and unaccounted revenues from oil sales.
The report raises concerns that these financial discrepancies may have hindered the funding of the 2021 budget and calls for recovery of the missing funds to be remitted to the Federation Account.
SERAP has called on Mele Kyari, the CEO of NNPCL, to identify and hand over those responsible for the missing oil funds to the ICPC and EFCC. This follows their yearly report published on November 27, 2024, highlighting concerns over significant financial discrepancies in the oil sector.
Key Points:
Yearly Report Publication:
Date: Thursday, November 27, 2024
Issued by: SERAP (Socio-Economic Rights and Accountability Project)
Call to Action:
Urged Mele Kyari, CEO of NNPCL, to take responsibility.
Identify individuals suspected of involvement in the disappearance of oil funds.
Accountability Measures:
Hand over suspects to:
Independent Corrupt Practices and Other Related Offences Commission (ICPC)
Economic and Financial Crimes Commission (EFCC)
Context:
The report raises alarms about financial mismanagement and corruption within the oil sector, emphasizing the need for transparency and accountability. :User What specific actions did SERAP recommend to ensure accountability in the oil sector?
SERAP recommended several specific actions to ensure accountability in the oil sector, including:
Investigation Initiatives:
Conduct thorough investigations into the financial discrepancies highlighted in the report.
Collaboration with Law Enforcement:
Work closely with the ICPC and EFCC to facilitate the investigation and prosecution of those involved in corrupt practices.
Public Disclosure:
Ensure transparency by publicly disclosing the findings of the investigations and the identities of those implicated.
Policy Reforms:
Advocate for policy reforms aimed at strengthening oversight mechanisms within the oil sector to prevent future occurrences of corruption.
Regular Audits:
Implement regular financial audits of NNPCL and other related entities to monitor financial activities and ensure compliance with regulations.
Whistleblower Protections:
Establish protections for whistleblowers to encourage reporting of corrupt activities without fear of retaliation.
These actions are aimed at fostering a culture of accountability and integrity within the oil sector, ultimately restoring public trust.
The letter from SERAP (Socio-Economic Rights and Accountability Project) emphasizes the importance of transparency and accountability in the operations of Nigeria's refineries. By inviting former President Olusegun Obasanjo, along with the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), SERAP aims to ensure that the operations and expenditures related to the Port Harcourt and Warri refineries are closely monitored. This initiative reflects a commitment to uphold integrity in the management of Nigeria's oil resources, which is crucial for the country's economic development and public trust. The invitation is seen as a positive step towards fostering greater oversight and ensuring that the refineries operate efficiently and transparently.
The statement emphasizes the importance of accountability and transparency in governance, urging a formal invitation to the former president and relevant anti-corruption agencies. It highlights that no individual is above the law, reinforcing the need for oversight in public affairs.
Invitation to Former President: The statement calls for a formal invitation to the former president, emphasizing that such an invitation is not disrespectful.
Role of Anti-Corruption Agencies: It urges the inclusion of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in the invitation to ensure transparency.
Accountability in Governance: The assertion that "no one is above the law" underscores the necessity for accountability in public service and governance.
Public Trust: The statement reflects a commitment to restoring public trust by advocating for oversight and scrutiny of actions taken by public officials.U
rgency for Action: The call for these measures indicates a pressing need for action to address concerns regarding corruption and mismanagement of public funds.
The statement emphasizes the importance of accountability and transparency in governance, particularly in light of serious allegations made by the Auditor-General regarding potential corruption. It highlights that the invitation to former President Olusegun Obasanjo is not only justified but also aligns with the principles enshrined in the Nigerian Constitution and the nation's commitments to combat corruption.
The reference to the "grave violation of the public trust" underscores the severity of the allegations, suggesting that they could have significant implications for public confidence in government institutions. By invoking national anti-corruption laws and international obligations, the letter calls for a collective effort from citizens and leaders alike to address and rectify these issues, reinforcing the idea that combating corruption is a shared responsibility.
Overall, the message advocates for a proactive approach to ensuring integrity in public service and emphasizes the need for accountability in the face of serious allegations.
The statement highlights the significant impact of the allegations on Nigeria's economic landscape. It suggests that corruption or mismanagement has not only hindered growth but has also perpetuated a cycle of poverty for many citizens. This situation likely limits access to essential services, education, and employment opportunities, further entrenching socioeconomic disparities. Addressing these issues would be crucial for fostering a more equitable and prosperous future for the country.
The statement emphasizes the urgency of addressing the financial discrepancies highlighted in the Auditor General's report regarding the Nigerian National Petroleum Corporation Limited (NNPCL). By setting a 7-day deadline for action, SERAP (Socio-Economic Rights and Accountability Project) is signaling the seriousness of the situation and its commitment to holding the NNPCL accountable for the alleged mismanagement of public funds. The mention of over N825 billion and USD$2.5 billion not being accounted for raises significant concerns about transparency and governance in the management of Nigeria's oil revenues, which are crucial for the country's economic stability. If the NNPCL does not respond, SERAP is prepared to pursue legal avenues to ensure compliance, underscoring the importance of accountability in public financial management.
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