Anti-corruption advocacy group, Socio-Financial Rights and Accountability Venture, has known as on President Bola Tinubu to launch the names of contractors and corporations alleged to have embezzled over N167bn allotted to 31 federal ministries, departments, and companies with out executing any initiatives.
In a letter dated November 30, 2024, and signed by its Deputy Director, Kolawole Oluwadare, SERAP urged the President to direct the Minister of Finance, Wale Edun, and the Accountant-Normal of the Federation, Oluwatoyin Madein, to reveal complete particulars of the transactions.
SERAP is demanding specifics on the initiatives, their proposed places, and the quantities acquired by every contractor.
The allegations, drawn from the 2021 audited report by the Workplace of the Auditor-Normal of the Federation, spotlight that the Nigerian Bulk Electrical energy Buying and selling Plc alone reportedly disbursed N100bn to contractors for unexecuted initiatives.
Different implicated MDAs embody the Federal Ministry of Youth and Sports activities Growth, Nigerian Correctional Service, Nationwide Pension Fee, and Hydrocarbon Air pollution Remediation Venture, amongst others.
SERAP, in its letter, emphasised that transparency was essential to curbing corruption.
“Publishing the names will make it arduous for firms and contractors to get away with complicity in grand corruption,” the letter said.
The group additionally urged Tinubu to activity the Legal professional-Normal of the Federation, Lateef Fagbemi, and related anti-corruption companies to get better the misappropriated funds and prosecute the culprits.
SERAP argued that corruption on this scale undermines public belief, deepens poverty, and widens inequality.
“The allegations of corruption involving many firms and contractors impair entry of poor Nigerians to public items and companies,” the organisation mentioned.
It additionally criticised the function of senior officers who allegedly facilitated the disbursement of funds, stating, “Failure to deal with this problem will embolden corrupt contractors and corporations, perpetuating developmental challenges.”
SERAP warned that it could pursue authorized motion if the federal government did not act inside seven days of receiving the letter.