The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to take immediate action regarding allegations of missing public funds. According to SERAP, over N57 billion was mismanaged or stolen from the Federal Ministry of Humanitarian Affairs and Poverty Alleviation in 2021.
These allegations are documented in the 2021 audited report released by the Office of the Auditor-General of the Federation. SERAP is urging President Tinubu to direct the Attorney General, Lateef Fagbemi (SAN), and anti-corruption agencies to investigate these claims.
SERAP deputy director Kolawole Oluwadare stated, “The allegations amount to stealing from the poor. There is a legitimate public interest in ensuring justice and accountability for these grave allegations.”
The organization also noted that “hundreds of billions of naira are also reportedly missing in other ministries, departments and agencies [MDAs].”
Some of the alleged mismanaged funds include:
N54.6 billion*: meant to pay monthly stipends to Batch C1 N-Power volunteers and non-graduate trainees between August and December 2021
N2.6 billion*: meant for the ‘home grown school feeding programme during Covid-19’, which was never executed
N78 million*: spent on a survey without approval or documentation
N39.5 million*: ‘personal donations to different personalities’ paid directly to the minister
N400 million*: meant to pay stipends to 4450 independent monitors
N287 million*: paid to contractors without documentation or justification
SERAP is urging President Tinubu to use any recovered stolen funds to fund the deficit in the 2025 budget and to issue an immediate moratorium on borrowing by the Federal Government to ease Nigeria’s crippling debt crisis. Nigeria’s public debt stock increased from N97.34 trillion in December 2023 to N121.67 trillion in March, partly due to exchange rate fluctuations.
