The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to order an immediate investigation into the alleged disappearance of over N26 billion from the Petroleum Technology Development Fund (PTDF) and the Federal Ministry of Petroleum Resources in 2021.
The group urged the President to direct the Attorney General of the Federation, Lateef Fagbemi (SAN), and relevant anti-corruption agencies to swiftly probe the allegations, identify those responsible, and recover the missing funds. SERAP stressed that anyone found culpable should be prosecuted in accordance with the law.
These shocking allegations stem from the 2021 audited report released by the Office of the Auditor-General of the Federation on November 13, 2024. The report exposes a pattern of financial irregularities, raising fears that public funds may have been stolen, mismanaged, or diverted.
The Auditor-General’s Findings: A Web of Suspicious Transactions
The report details how:
The PTDF allegedly paid over N25.6 billion for contracts without any supporting documents, leading the Auditor-General to suspect diversion of funds.
The agency also failed to account for N326 million deposited in two banks.
More details later….
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