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SERAP urges Tinubu to Probe $2.1bn, N3.1tn Unaccounted Subsidy Payments

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Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to probe the $2.1 billion and N3.1 trillion subsidy payments allegedly missing and unaccounted for between 2016 and 2019.

SERAP made the call in a statement by its Deputy Director, Kolawole Oluwadare.

SERAP urged Tinubu to set up a Presidential Panel of enquiry to promptly probe the allegations that the public funds of oil revenues and budgeted as fuel subsidy payments are missing and unaccounted between 2016 and 2019, as documented by the auditor-general of the federation.

The organisation told the president to name and shame anyone suspected to be responsible for the alleged widespread and systemic corruption in the use of oil revenues and the management of public funds budgeted as fuel subsidy, and to ensure their effective prosecution as well as the full recovery of any proceeds of crime.

It also urged the president to promptly, thoroughly, independently, transparently and effectively probe all fuel subsidies paid by successive governments since the return of democracy in 1999, and to use any recovered proceeds of crime as palliatives to address the impact of any subsidy removal on poor Nigerians.

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