The Federal Government has responded to calls for an investigation into alleged missing funds amounting to over N128 billion from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).
The call, made by the Socio-Economic Rights and Accountability Project (SERAP), urged President Bola Ahmed Tinubu to direct the Attorney General of the Federation, Lateef Fagbemi, SAN, alongside relevant anti-corruption agencies, to investigate allegations that more than N128 billion in public funds were missing or diverted from the Ministry of Power and NBET, Abuja.
According to SERAP, the request was based on findings contained in an audit report, which it said raised concerns about financial accountability within the Ministry of Power and NBET.
In response, the Office of the Honourable Minister of Power clarified that the audit report cited by SERAP pertains exclusively to the 2022 financial year, a period before the appointment of the current Minister, Chief Adebayo Adelabu, who assumed office in August 2023. Bolaji Tunji, the Minister’s Special Adviser on Strategic Communications and Media Relations, emphasised that the report has no connection with the operations of the Ministry under the present administration.
In a statement signed by the Special Adviser on Strategic Communications and Media Relations to the Minister, Bolaji Tunji, the Ministry explained that the issues raised had no connection with the operations of the Ministry under the present administration.
READ ALSO: Tinubu nominates Magnus Abe, 20 others to NUPRC, NMDPRA boards
“Our attention has been drawn to the call by the Socio-Economic Rights and Accountability Project (SERAP) urging President Bola Ahmed Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to investigate allegations that over N128 billion of public funds are missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc,” the statement said.
“While the Honourable Minister of Power, Chief Adebayo Adelabu, has no objection to calls for investigation, it is important to clearly state that he was appointed in August 2023, whereas the audit report in question relates to the 2022 financial year.
“Consequently, the issues raised in the referenced audit report pertain entirely to a period before the Minister’s tenure. The call for investigation therefore has no bearing on the operations or financial activities of the Ministry under the current administration.
“The Office of the Honourable Minister reaffirms its commitment to transparency and accountability and will cooperate fully with any legitimate process aimed at addressing legacy issues in the power sector, while remaining focused on its mandate of delivering stable and reliable electricity to all Nigerians.”
The ministry emphasised that the current Minister of Power, Adelabu, is widely regarded for his strict adherence to due process, probity, transparency, and accountability, as demonstrated in his previous roles in both the public and private sectors.
The Ministry added that the Minister remains resolute in safeguarding this reputation while pursuing reforms aimed at improving electricity supply across the country.