₦128bn Power Scam: SERAP Demands Immediate Probe as Tinubu Comes Under Pressure

The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to urgently order a full-scale investigation into allegations that over ₦128 billion in public funds are missing or were diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).

In a statement issued on Sunday, SERAP urged the President to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), alongside relevant anti-corruption agencies, to immediately probe the alleged financial irregularities.

According to SERAP, the reported missing funds were meant to support Nigeria’s struggling electricity sector but may have been mismanaged or unlawfully diverted, worsening the country’s persistent power crisis. The organisation said the allegations raise serious questions about transparency, accountability, and governance within key institutions responsible for electricity generation and trading.

SERAP warned that the failure to investigate the matter would amount to shielding corruption and denying Nigerians the benefits of public funds earmarked for critical infrastructure. It stressed that millions of citizens and businesses continue to suffer unreliable power supply while huge sums allocated to the sector allegedly disappear.

The group also demanded that any officials found culpable be prosecuted in line with the law and that all recovered funds be returned to the public treasury and reinvested in fixing Nigeria’s power infrastructure.

SERAP maintained that decisive action by the Tinubu administration would send a strong signal that corruption in the power sector will no longer be tolerated, noting that accountability is essential to restoring public confidence and improving electricity supply nationwide.