The Federal Government has officially responded to demands for an investigation into allegations that over N128 billion in public funds is missing or was diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).
SERAP's Allegations and Call for Action
The Socio-Economic Rights and Accountability Project (SERAP) issued a statement on Sunday, January 5, 2026, calling on President Bola Ahmed Tinubu to direct the Attorney General of the Federation, Lateef Fagbemi, SAN, and relevant anti-corruption agencies to launch a probe. SERAP based its request on findings from an audit report, which it said raised serious concerns about financial accountability within the two power sector entities.
Ministry's Clarification on Audit Timeline
In a swift reaction, the Office of the Honourable Minister of Power, Adebayo Adelabu, provided crucial context. Through a statement signed by his Special Adviser on Strategic Communications, Bolaji Tunji, the Ministry clarified that the audit report cited by SERAP strictly concerns the 2022 financial year.
This period predates both the current administration and the appointment of Minister Adelabu in August 2023. Consequently, the Ministry asserted that the issues raised have no connection to its operations under the present leadership.
Commitment to Transparency Amidst Legacy Issues
The Ministry's statement expressed no objection to calls for an investigation but stressed the temporal disconnect. "The call for investigation therefore has no bearing on the operations or financial activities of the Ministry under the current administration," it read.
It further reaffirmed the Minister's commitment to probity, transparency, and accountability, virtues he is widely acknowledged for from his previous roles. The Office pledged full cooperation with any legitimate process aimed at resolving legacy issues in the power sector.
Ultimately, the Ministry emphasized that its primary focus remains on its core mandate: delivering stable and reliable electricity to all Nigerians through ongoing reforms.
