₦200 Trillion NNPCL Probe: SERAP Threatens Legal Action Against Akpabio

₦200 Trillion NNPCL Probe: SERAP Threatens Legal Action Against Akpabio

Pressure is intensifying on Senate President Godswill Akpabio as the Socio-Economic Rights and Accountability Project (SERAP) has threatened legal action over the alleged ₦200 trillion missing from the Nigerian National Petroleum Company Limited (NNPCL).

The group is demanding full transparency in the ongoing Senate investigation, including the disclosure of all individuals allegedly linked to the financial discrepancies within Nigerian National Petroleum Company Limited.

In a letter dated March 21, 2026, signed by its Deputy Director, Kolawole Oluwadare, SERAP urged Akpabio to direct the Senate Public Accounts Committee to immediately publish the identities, roles, and positions of officials under investigation.

The organisation also called for the release of critical documents tied to the probe, including audit reports, financial statements, and official correspondences reviewed by the committee.

According to SERAP, Nigerians have a right to scrutinise the process independently, stressing that transparency is key to establishing the credibility of the claims.

“Full disclosure of the ongoing investigation is essential to ensure transparency and accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts,” the group stated.

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The Senate Public Accounts Committee is currently probing claims that about ₦200 trillion in NNPCL funds cannot be properly accounted for between 2017 and 2023—a figure that has sparked widespread debate among financial experts and policymakers.

Lawmakers have reportedly raised concerns over inconsistencies in financial records, missing documentation, and unclear reconciliations within the oil company’s accounts.

The investigation has also been slowed by the failure of some officials to honour invitations, as well as delays in providing detailed responses to audit queries.

SERAP warned that continued secrecy and delays could undermine public trust and create room for political interference or potential cover-ups.

“The magnitude of the sum, combined with NNPCL’s history of opaque practices, underscores the urgency of a thorough, impartial, and transparent investigation,” the group said.

The organisation further demanded that the Senate publish full records of proceedings, including meeting minutes, submissions, and evidence presented so far, to ensure accountability.

It also asked for a clear timeline indicating when implicated officials will appear before the panel and when the investigation will be concluded.

Beyond transparency, SERAP emphasised that no individual—regardless of political status or influence—should be shielded if found culpable.

“Allowing these allegations to be ignored, delayed, or politicised risks normalising impunity and diminishes the public’s right to know how national wealth is being managed,” the letter added.

The group gave the Senate a seven-day ultimatum to act on its demands, warning that it would initiate legal proceedings if there is no response within the stipulated timeframe.

Meanwhile, tensions between the Senate and NNPCL officials have continued to rise, with reports indicating that several key figures have failed to appear before the committee despite repeated invitations.

Industry analysts note that the controversy reflects longstanding concerns about transparency in Nigeria’s oil sector, including issues around revenue tracking, subsidy regimes, and institutional accountability.

The unfolding situation has heightened public interest, with many Nigerians calling for a credible and transparent investigation to determine the accuracy of the claims and ensure that any wrongdoing is addressed.

₦200 Trillion NNPCL Probe: SERAP Threatens Legal Action Against Akpabio