The Socio-Economic Rights and Accountability Project (SERAP) has called on Senate President Godswill Akpabio to ensure full transparency in the ongoing probe into an alleged ₦200 trillion discrepancy involving the Nigerian National Petroleum Company Limited.
In a letter dated 21 March 2026 and signed by its deputy director Kolawole Oluwadare, SERAP urged Akpabio to direct the Senate Public Accounts Committee to publish the names and roles of all officials implicated in the case.
The organisation said disclosure should be done “regardless of social or political status” to strengthen public trust and prevent any perception of a cover-up.
Call for full disclosure
SERAP also demanded that the committee release key documents tied to the investigation, including audit reports, financial records and official communications.
It further asked that timelines be made public for when implicated individuals would appear before the panel and when the investigation would be concluded.
According to the group, publishing full proceedings, including minutes, submissions and evidence, would allow Nigerians to independently scrutinise the process.
Probe into ₦200tn discrepancies
The Senate committee is investigating audit findings covering 2017 to 2023, which flagged about ₦210 trillion in entries within NNPCL accounts as unreconciled or lacking sufficient documentation.
Lawmakers reportedly identified two major categories about ₦103 trillion in joint venture and operational costs, around ₦107 trillion in receivables, subsidies and other obligations
Concerns were raised over inconsistencies in the company’s submissions and the absence of supporting records.
Delays and non-compliance
SERAP criticised the slow pace of the probe, noting repeated delays and the failure of several current and former NNPCL officials to appear before the committee.
It warned that prolonged delays risk eroding public confidence and could lead to loss or distortion of evidence.
Transparency and accountability concerns
The organisation stressed that the scale of the allegations demands a thorough and transparent investigation.
It noted that NNPCL has historically faced scrutiny over opaque financial practices, making accountability even more critical given its central role in managing Nigeria’s oil revenue.
SERAP warned that failure to act decisively could normalise impunity and weaken oversight of public funds.
Legal backing
The group cited provisions of the Nigerian Constitution and international agreements, including the UN Convention against Corruption and the African Charter on Human and Peoples’ Rights, to support its demands for transparency.
SERAP gave the Senate seven days to act, warning that it would pursue legal action if its recommendations are ignored.
