Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against President Bola Tinubu for his alleged failure to investigate concerning claims that over $15 billion in oil revenues and a budget allocation of N200 billion designated for refinery repairs in Nigeria remain unaccounted for during the years 2020 and 2021.
The assertions are based on the 2021 report from the Nigeria Extractive Industries Transparency Initiative (NEITI). In the lawsuit bearing the number FHC/L/CS/2334/2023, filed last Friday at the Federal High Court in Lagos, SERAP is requesting a court order, known as "mandamus," to compel President Tinubu to launch an investigation into the allegations of missing funds.
Additionally, SERAP seeks another mandamus order, compelling President Tinubu to instruct relevant anti-corruption agencies to probe corruption allegations involving the Nigerian Petroleum Development Company Limited, Nigerian Upstream Petroleum Regulatory Commission (NPDC), and State-Owned Enterprises (SOE).
Furthermore, SERAP is urging the court to order President Tinubu to use any recovered proceeds from corruption to improve the welfare of Nigerians.
SERAP argues that it is in the public's interest to ensure justice and accountability regarding these serious allegations and that granting the requested relief will help end impunity among wrongdoers and provide justice to corruption victims.
They emphasize that these allegations of corruption, as reported by NEITI, are detrimental to the country's economic development, contribute to widespread poverty, and limit opportunities for the majority of Nigerians. SERAP warns that unless the President takes action, suspected wrongdoers will continue to evade accountability.
SERAP points out that years of corruption allegations and mismanagement of oil revenues have eroded public trust and confidence in governments at all levels. They contend that these findings by NEITI constitute a grave violation of Nigeria's constitution, national anti-corruption laws, and the country's commitments under the UN Convention against Corruption.
In their lawsuit filed by their legal team, which includes lawyers Kolawole Oluwadare, Andrew Nwankwo, and Ms. Valentina Adegoke, SERAP insists that President Tinubu's government has a constitutional responsibility to ensure transparency and accountability in the management of the country's oil wealth.
They refer to specific sections of the Nigerian Constitution that obligate the government to combat corruption and promote the welfare and happiness of citizens, as well as international agreements that bind the government to proper management of public funds.
Furthermore, they mention Nigeria's participation in the Extractive Industries Transparency Initiative (EITI) and the obligations it entails in terms of revenue transparency and tackling corruption related to natural resource wealth. The 2021 NEITI report highlights substantial sums that government agencies, including the Nigerian Petroleum Development Company (NNPC) and the Nigerian Upstream Petroleum Regulatory Commission (NPDC), failed to remit to the public treasury.
The report also reveals questionable spending by State-Owned Enterprises (SOE) and its subsidiaries, particularly concerning the National Assembly's appropriation. There are concerns about the absence of transparency in loans, subsidies, and revenue management by the NNPC, as well as non-remittances and unaccounted funds.
Lastly, the report underlines a significant expenditure of N200 billion on "refinery rehabilitation" between 2020 and 2021, despite the refineries not operating during this period. SERAP urges an investigation into this spending, as it is suspected that the funds might be unaccounted for.
The lawsuit also names Mr. Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice, as a respondent. A date for the hearing of the suit has not yet been scheduled.
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