{"id":96022,"date":"2023-09-24T11:14:57","date_gmt":"2023-09-24T10:14:57","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu"},"modified":"2023-09-24T13:32:25","modified_gmt":"2023-09-24T12:32:25","slug":"probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu","title":{"rendered":"Probe missing $15bn, N200bn of oil revenues \u2013 SERAP tells Tinubu"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to \u201cset up a presidential panel of enquiry to promptly probe the grim allegations that over US$15 billion of oil revenues, and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI).\u201d<\/p>\n

SERAP urged Tinubu to name and shame anyone suspected to be responsible for the missing and unaccounted public funds and to ensure their effective prosecution, as well as the full recovery of proceeds of crime.<\/p>\n

The organization also urged him \u201cto fully implement all the recommendations by NEITI in its 2021 report.\u201d<\/p>\n

In the letter dated 23 September 2023 and signed by SERAP deputy director, Kolawole Oluwadare, the organisation said: \u201cThere is a legitimate public interest in ensuring justice and accountability for these serious allegations. Taking these important measures would end the impunity of perpetrators.<\/p>\n

\u201cAs President and Minister of Petroleum Resources, your office ought to be concerned about these damning revelations, by getting to the bottom of the allegations and ensuring that suspected perpetrators are promptly brought to justice, and any missing public funds fully recovered.<\/p>\n

\u201cAny failure to investigate these grave allegations, bring suspected perpetrators to justice and recover any missing public funds would have serious resource allocation and exacerbate the country\u2019s debt burden.<\/p>\n

\u201cThe findings by NEITI suggest a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anti-corruption laws, and the country\u2019s obligations under the UN Convention against Corruption.<\/p>\n

\u201cThe allegations of corruption documented by NEITI undermine economic development of the country, trap the majority of Nigerians in poverty and deprive them of opportunities.\u201d<\/p>\n

\u201cYour government has a constitutional duty to ensure transparency and accountability in the spending of the country\u2019s wealth and resources.<\/p>\n

\u201cAccording to the 2021 report by the Nigeria Extractive Industries Transparency Initiative (NEITI), government agencies including the Nigerian Petroleum Development Company (NNPC) and the Nigerian Upstream Petroleum Regulatory Commission (NPDC) failed to remit $13.591 million and $8.251 billion to the public treasury.<\/p>\n

\u201cThe NNPC and NPDC failed to remit over 70% of these public funds. NEITI wants both the NNPC and NPDC to be investigated, and for the missing public funds to be fully recovered.<\/p>\n

\u201cThe report documents that about N200 billion was spent on \u2018refineries rehabilitation\u2019 between 2020 and 2021 but none of the refineries was operational in 2021 despite the spending. NEITI wants the spending to be investigated, as the money may be missing.\u201d<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to \u201cset up a presidential panel of enquiry to promptly probe the grim allegations that over US$15 billion of oil revenues, and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by […]<\/p>\n","protected":false},"author":84,"featured_media":96020,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,254,641,945],"class_list":["post-96022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-serap","tag-tinubu"],"yoast_head":"\nProbe missing $15bn, N200bn of oil revenues \u2013 SERAP tells Tinubu - Nigeria<\/title>\n<meta name=\"description\" content=\"Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to \u201cset up a presidential panel ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Probe missing $15bn, N200bn of oil revenues \u2013 SERAP tells Tinubu\" \/>\n<meta property=\"og:description\" content=\"Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to \u201cset up a presidential panel ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-24T10:14:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-24T12:32:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/09\/sm_1695542356.091187.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1152\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Probe missing $15bn, N200bn of oil revenues \u2013 SERAP tells Tinubu\",\"datePublished\":\"2023-09-24T10:14:57+00:00\",\"dateModified\":\"2023-09-24T12:32:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu\"},\"wordCount\":434,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/09\/sm_1695542356.091187.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\",\"SERAP\",\"Tinubu\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/probe-missing-15bn-n200bn-of-oil-revenues-serap-tells-tinubu\",\"name\":\"Probe missing $15bn, N200bn of oil revenues \u2013 SERAP tells Tinubu - 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