The Socio-Economic Rights and Accountability Project (SERAP) has urged Godswill Akpabio, senate president, to direct the Senate’s Public Accounts Committee to disclose the names and positions of all officials implicated in the alleged ₦200 trillion missing or unaccounted for from the Nigerian National Petroleum Company Limited, irrespective of their status.
SERAP also called for the full release of details surrounding the ongoing investigation, including audit reports, financial records, official communications relied upon by the committee, and timelines for when implicated officials are expected to appear, as well as when the probe will be concluded.
The organisation further requested that the Public Accounts Committee publish complete records of its proceedings, including minutes, submissions, and evidence presented, to ensure transparency and allow Nigerians to independently assess the process.
The committee is currently investigating claims that about ₦200 trillion is missing from NNPCL’s accounts between 2017 and 2023, with concerns raised over unreconciled figures and insufficient documentation. Several officials have reportedly failed to appear or provide satisfactory explanations.
In a letter dated March 21, 2026, and signed by its deputy director, Kolawole Oluwadare, SERAP said: “Full disclosure of the ongoing investigation is essential to ensure transparency and accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts and investigation.”
SERAP said, “The allegations that ₦200 trillion is missing or unaccounted for, whether fully accurate or partly overstated, can only be taken seriously by Nigerians if the Senate is fully transparent in its ongoing investigation regarding the credibility, plausibility, and accuracy of the claims.”
According to the organisation, “Transparency regarding the ongoing investigation would prevent any perception of a cover-up or political compromise, and ensure that the facts are clearly established.”
The letter added: “Providing complete and verifiable information would allow the public and oversight institutions to assess the situation objectively and determine where the truth lies regarding the allegations.
“The magnitude of the sum, combined with the NNPCL’s history of opaque practices, underscores the urgency of a thorough, impartial, and transparent investigation.
“Allowing these allegations to be ignored, delayed, or politicized risks normalizing impunity and diminishes the public’s right to know how national wealth is being managed.
“There is a legitimate public interest in ensuring that all discrepancies are fully examined and that those responsible are identified and held to account, as part of a broader effort to strengthen governance and protect the nation’s economic future.
“We would be grateful if the recommended measures are taken within 7 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 you and the Senate to comply with our request in the public interest.”
SERAP also expressed concern over delays in the investigation, noting that the prolonged probe, repeated absence of officials, and slow reconciliation of figures could undermine public confidence and risk loss or distortion of evidence.
“It is imperative that the Committee promptly concludes its investigation in a timely and transparent manner, with clear timelines for the appearance of implicated individuals and the publication of findings, so that accountability is achieved and Nigerians are able to fully understand the outcome.
“The NNPCL has long operated with significant opacity in its financial and operational activities, which has repeatedly limited public oversight and created fertile ground for corruption, mismanagement or misreporting.
“Transparency in this regard would help build public confidence that the investigation is not being shaped by political considerations or undue influence.
“Despite repeated invitations and ultimatums issued by the committee, NNPCL and several of the officials identified in the audit queries have reportedly failed to appear before the panel or provide comprehensive explanations addressing the concerns raised.
“This non-compliance has heightened tensions between the legislature and the NNPCL, and raised concerns and unresolved issues about transparency and accountability in the management of the country’s natural wealth and resources.”