NNPC: Probe missing N3.1trn of subsidy payments or face legal action – SERAP tells Tinubu

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Ahmed Tinubu to “set up a presidential panel of enquiry to promptly probe the grim allegations that US$2.1 billion and N3.1 trillion public funds of oil revenues “budgeted as fuel subsidy payments are missing and unaccounted for between 2016 and 2019, as documented by the Auditor-General of the Federation.”

SERAP urged Tinubu to name and shame anyone suspected to be responsible for the alleged widespread and systemic corruption in the use of oil revenues and the management of public funds budgeted as fuel subsidy, and to ensure their effective prosecution, as well as the full recovery of any proceeds of crime.

The organization also urged him “to promptly, thoroughly, independently, transparently and effectively probe all fuel subsidy paid by successive governments since the return of democracy in 1999, and to use any recovered proceeds of crime as palliatives to address the impact of any subsidy removal on poor Nigerians.”

 

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