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Anti-corruption advocacy group, Socio-Economic Rights and Accountability Project, has called on President Bola Tinubu to release the names of contractors and companies alleged to have embezzled over N167bn allocated to 31 federal ministries, departments, and agencies without executing any projects.
In a letter dated November 30, 2024, and signed by its Deputy Director, Kolawole Oluwadare, SERAP urged the President to direct the Minister of Finance, Wale Edun, and the Accountant-General of the Federation, Oluwatoyin Madein, to disclose comprehensive details of the transactions.
SERAP is demanding specifics on the projects, their proposed locations, and the amounts received by each contractor.
The allegations, drawn from the 2021 audited report by the Office of the Auditor-General of the Federation, highlight that the Nigerian Bulk Electricity Trading Plc alone reportedly disbursed N100bn to contractors for unexecuted projects.
Other implicated MDAs include the Federal Ministry of Youth and Sports Development, Nigerian Correctional Service, National Pension Commission, and Hydrocarbon Pollution Remediation Project, among others.
SERAP, in its letter, emphasised that transparency was critical to curbing corruption.
“Publishing the names will make it hard for companies and contractors to get away with complicity in grand corruption,” the letter stated.
The group also urged Tinubu to task the Attorney-General of the Federation, Lateef Fagbemi, and relevant anti-corruption agencies to recover the misappropriated funds and prosecute the culprits.
SERAP argued that corruption on this scale undermines public trust, deepens poverty, and widens inequality.
“The allegations of corruption involving many companies and contractors impair access of poor Nigerians to public goods and services,” the organisation said.
It also criticised the role of senior officials who allegedly facilitated the disbursement of funds, stating, “Failure to address this issue will embolden corrupt contractors and companies, perpetuating developmental challenges.”
SERAP warned that it would pursue legal action if the government failed to act within seven days of receiving the letter.
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