The Socio-Economic Rights and Accountability Project (SERAP) has achieved a significant legal victory, obtaining court permission to seek an order of mandamus compelling the administration led by President Bola Tinubu to investigate the alleged disappearance of $2.1 billion and N3.1 trillion in oil revenue during the tenure of former President Muhammadu Buhari.
SERAP initiated legal action in June to compel President Tinubu to establish a presidential inquiry panel to investigate serious allegations of missing and unaccounted-for public funds, totaling $2.1 billion and N3.1 trillion in oil revenues and budgeted fuel subsidy payments. These allegations were initially documented by the Auditor-General of the Federation.
In its lawsuit, SERAP called on the President to identify and hold accountable any individuals suspected of involvement in extensive and systemic corruption related to the management of oil revenues and the handling of public funds allocated for fuel subsidy. The organization also stressed the importance of ensuring effective prosecution and full recovery of any proceeds linked to these alleged crimes.
SERAP further urged the President to initiate a comprehensive, independent, transparent, and effective investigation into all fuel subsidies disbursed by successive governments since the restoration of democracy in 1999. Additionally, they suggested using any recovered funds from such investigations to provide relief to poor Nigerians affected by any fuel subsidy removal.
In an update shared on its social media platform, SERAP announced, “We have obtained the leave of the court to apply for an order of mandamus to compel the Tinubu administration to probe the allegations that USD$2.1 billion and N3.1 trillion of oil revenues are missing and unaccounted for between 2016 and 2019.”