The Federal Government has responded to calls for an investigation into alleged missing funds amounting to over N128 billion from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET). The call, made by the Socio-Economic Rights and Accountability Project (SERAP), urged President Bola Ahmed Tinubu to direct the Attorney General of the Federation, Lateef Fagbemi, SAN, alongside relevant anti-corruption agencies, to probe the alleged financial discrepancies.
SERAP, in a statement released on Sunday, claimed that an audit report highlighted serious concerns over financial accountability within the Ministry of Power and NBET. The civil society organisation called on the government to take immediate action to ensure transparency and recover any misappropriated public funds.
In response, the Office of the Honourable Minister of Power clarified that the audit report cited by SERAP pertains exclusively to the 2022 financial year, a period before the appointment of the current Minister, Chief Adebayo Adelabu, who assumed office in August 2023. Bolaji Tunji, the Minister’s Special Adviser on Strategic Communications and Media Relations, emphasised that the report has no connection with the operations of the Ministry under the present administration.
While the Ministry expressed willingness to cooperate with any legitimate investigation addressing legacy issues in the power sector, it reiterated that the current administration remains committed to delivering stable and reliable electricity to Nigerians. The statement also highlighted Minister Adelabu’s reputation for transparency, accountability, and adherence to due process, which he has maintained in his previous roles across public and private sectors.
The Ministry concluded by reaffirming its focus on implementing reforms to improve electricity supply nationwide, assuring stakeholders that ongoing efforts will prioritise efficiency, probity, and the responsible management of public resources.
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