Tinubu Under Pressure to Expose Contractors Behind N167 Billion Scandal
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The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to take urgent action and reveal the names of contractors and companies who allegedly siphoned over N167 billion from the Nigerian government, failing to execute the projects they were contracted for.
This call comes after revelations in the recently released 2021 audited report by the Office of the Auditor-General of the Federation, which exposed the widespread abuse of public funds across various ministries, departments, and agencies (MDAs).
In a letter dated November 30, 2024, signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organization demanded that President Tinubu direct the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, and the Accountant-General of the Federation, Oluwatoyin Sakirat Madein, to disclose the names of companies and contractors that received the funds without delivering on any of the proposed projects.
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The amount in question, according to SERAP, was collected by contractors from 31 MDAs across the country.
Among the most prominent cases highlighted in the letter is the Nigerian Bulk Electricity Trading Plc. (NBET), which allegedly paid out a staggering N100 billion to contractors for non-executed projects.
Other MDAs implicated in the scandal include the Nigerian Correctional Service, the National Pension Commission, the Federal College of Land Resources Technology in Owerri, and the Hydrocarbon Pollution Remediation Project (HYPREP), among others.
SERAP’s call for transparency has also extended to the names of the shareholders and key individuals involved in the companies that collected the funds.
The organization has urged President Tinubu to direct the Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, to immediately take legal action against those responsible for this alleged misappropriation.
The letter stresses that publishing the names of these contractors will serve as a deterrent against future abuses, protect the integrity of public procurement, and ensure that the misappropriated funds are recovered for the benefit of the Nigerian people.
“The failure to take appropriate measures would allow corrupt companies and contractors to continue undermining the rule of law and economic development,” the letter warns.
