Probe Missing $2.1bn, N3.1trn Subsidy Payments, SERAP Tells Tinubu

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to investigate allegations that $2.1 billion and N3.1 trillion public funds budgeted as fuel subsidy payments are missing.

SERAP claimed that the funds were unaccounted for between 2016 and 2019 and that they are documented in an audit report prepared by the Auditor-General of the Federation.

The civil society organisation also called on the President 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.

SERAP, which made the demands in a letter dated June 3, 2023 and signed by its deputy director, Kolawole Oluwadare, also threatened to drag the federal government to court if the demands were ignored.

The organisation further urged the government to probe all fuel subsidies 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.

It maintained that there is a legitimate public interest in ensuring justice and accountability for these serious allegations and that there will be no economic growth or sustainability without accountability for these human rights crimes.

SERAP also stated that the Tinubu administration must urgently act to follow due process of law in any policy to remove fuel subsidy, ensure that suspected perpetrators of these crimes against Nigerians are brought to justice and full recovery of any missing public funds.

It said, “Arbitrarily removing fuel subsidy without addressing outstanding accountability issues in the alleged mismanagement of oil revenues and fuel subsidy payments would amount to punishing poverty and further impoverishing the poor while letting high-profile officials and non-state actors get away with their crimes.

“Any removal of fuel subsidy should not be used as a ploy to keep the poor in poverty while those who allegedly stole oil revenues and fuel subsidy payments keep their ill-gotten wealth.

“Allegations of corruption in oil revenues and fuel subsidy payments suggest that the poor have rarely benefited from the use and management of the revenues and payments.

“Poor and socio-economically vulnerable Nigerians should not be made to continue to pay the price for the stealing of the country’s oil wealth while state and non-state actors’ pocket public funds.

“We would be grateful if the recommended measures are taken within 3 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.’’

The organisation said the proposed panel should be headed by a retired justice of the Supreme Court or Court of Appeal, adding that its members should include people with proven professional record, and of the highest integrity that can act impartially, independently and transparently.