The Socio-Economic Rights and Accountability Project (SERAP) has called on Senate President Godswill Akpabio to direct the Senate’s Public Accounts Committee to immediately publish the identities of all officials implicated in the alleged N200 trillion missing or unaccounted for from the Nigerian National Petroleum Company Limited (NNPCL).
In a letter dated March 21, 2026, and signed by its Deputy Director, Kolawole Oluwadare, the organisation urged the Senate leadership to ensure full transparency in the ongoing investigation, including the release of audit reports, financial records, and official communications relied upon by the committee.
SERAP also demanded that the committee publish timelines for when implicated officials are expected to appear before it, as well as a clear schedule for concluding the probe.
“The names and designations of all officials and entities under investigation, regardless of status or influence, should be widely published to reinforce equality before the law and prevent any perception of selective accountability,” the group stated.
The Senate’s Public Accounts Committee is currently probing audit findings that suggest about N200 trillion in NNPCL accounts between 2017 and 2023 may be missing or not properly accounted for. Lawmakers have raised concerns over discrepancies, unreconciled figures, and inadequate supporting documentation.
According to SERAP, full disclosure is critical to ensuring public trust and preventing political interference in the investigation.
“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 organisation noted.
The group further urged the committee to publish complete records of its proceedings, including minutes, submissions, and evidence presented, to allow Nigerians to independently scrutinise the process and findings.
SERAP warned that delays in the investigation—caused in part by the failure of some officials to appear before the panel or provide satisfactory explanations—risk undermining public confidence and could lead to loss or distortion of key evidence.
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“The magnitude of the sum, combined with the NNPCL’s history of opaque practices, underscores the urgency of a thorough, impartial, and transparent investigation,” the letter read.
The organisation stressed that ignoring or politicising the allegations could normalise impunity and weaken accountability in the management of Nigeria’s natural resources.
“There is a legitimate public interest in ensuring that all discrepancies are fully examined and that those responsible are identified and held to account,” SERAP added.
It also called for the disclosure of the terms of reference, scope, and methodology of the investigation, arguing that without such information, it would be difficult for the public to assess the credibility and comprehensiveness of the inquiry.
The group gave the Senate a seven-day ultimatum to act on its recommendations, warning that it would pursue legal action if there was no response within the stipulated time frame.
The probe, which has dragged on amid repeated delays, was triggered by audit reports highlighting approximately N210 trillion in entries within NNPCL accounts. These include about N103 trillion recorded as joint venture and operational costs, and roughly N107 trillion classified under receivables, subsidies, and other obligations.
Lawmakers have described several submissions by NNPCL officials as inconsistent and insufficient, necessitating further scrutiny. However, continued non-compliance by some invited officials has heightened tensions between the legislature and the state oil company.
SERAP maintained that proactive disclosure of all relevant information would not only safeguard the integrity of the investigation but also strengthen accountability, restore public confidence, and uphold the rule of law in Nigeria’s public financial management system.