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‘Account for Missing N500bn, Invite EFCC, ICPC’, SERAP Tells NNPC
- Between October and December 2024, the Nigerian National Petroleum Company did not deposit N500 billion into the Federation Account, according to a disclosure made by the World Bank in May 2025.
- In 2024, NNPCL generated a total of N1.1 trillion from the sale of crude oil and additional sources, yet it officially transferred only N600 billion to the Federation Account, resulting in an unexplained shortfall of N500 billion.
- An advocacy group focusing on socio-economic rights has formally called on CEO Bayo Ojulari to provide a detailed account of the missing funds, emphasizing violations of constitutional and anti-corruption laws, and has demanded a thorough investigation into the matter.
- SERAP emphasized that recovering the missing N500 billion would help address Nigeria’s cost-of-living crisis by increasing spending on essential public services and fulfilling economic and social rights.
- The group warned that failure to account for the funds undermines public trust and economic development, urging prompt action and threatening legal proceedings if NNPCL does not comply within seven days.
15 Articles
15 Articles
‘Account for missing N500bn, invite EFCC, ICPC’, SERAP tells NNPC
SERAP also urged Mr Ojulari “to invite the EFCC and ICPC to investigate the spending and whereabouts of the N500 billion" The post ‘Account for missing N500bn, invite EFCC, ICPC’, SERAP tells NNPC appeared first on Premium Times Nigeria.
SERAP Urges NNPCL To Account For Alleged Missing ₦500bn Oil Revenue
The Socio-Economic Rights and Accountability Project (SERAP) has called on Bayo Bashir Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), to account for a reported ₦500 billion shortfall in oil revenue remittance to the Federation Account. The post SERAP Urges NNPCL To Account For Alleged Missing ₦500bn Oil Revenue appeared first on Trending News.
SERAP asks NNPCL to account for N500bn not remitted to Federation Account
The Socio-Economic Rights and Accountability Project (SERAP), has asked the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPCL), Mr. Bayo Bashir, to account for and explain the whereabouts of the missing N500 billion that the NNPCL failed to remit to the Federation Account between October 2024 and December 2024, as revealed by the World Bank.In a Freedom of Information request dated May 17, 2025 signed by SERAP’s…
Port Harcourt, Warri refineries: Confusion over Kyari’s probe -...
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SERAP Demands Accountability For Missing N500 Billion From NNPCL » News.ng
The Socio-Economic Rights and Accountability Project (SERAP) has formally requested that Bayo Bashir Ojulari, the newly appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), provide a comprehensive account of approximately N500 billion in allegedly unremitted funds to the Federation Account during the final quarter of 2024. SERAP’s demands extend beyond a mere explanation, as the organisation has cal…
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