President Tinubu Dragged To Court Over Failure To Probe $2.1 Billion, N3.1 Trillion Missing Subsidy Money

President Bola Tinubu has been dragged to court over his alleged failure to investigate “the failure to probe allegations that USD$2.1 billion and N3.1 trillion public funds of oil revenues and budgeted as fuel subsidy payments are missing and unaccounted for between 2016 and 2019.”

Truetells Nigeria gathered that Socio-Economic Rights and Accountability Project (SERAP), has filed a lawsuit against the President at the Federal High Court in Lagos and the group is seeking an order of mandamus to promptly investigate allegations that USD$2.1 billion and N3.1 trillion in public funds are missing and unaccounted for between 2016 and 2019.

According to the lawsuit, which was filed by SERAP’s lawyers, Kolawole Oluwadare, Ms Adelanke Aremo, Ms Valentina Adegoke, and Ayomide Johnson, there can be no economic growth or sustainability without accountability for human rights crimes.

The group in the suit is seeking an order of mandamus to compel President Tinubu to direct anti-corruption agencies to promptly investigate fuel subsidy payments made by governments since 1999, name and shame and prosecute suspected perpetrators and recover any proceeds of crimes.

The group in its lawsuit is also seeking “An order of mandamus to direct and compel President Tinubu to use any recovered proceeds of crime as palliatives to address the impact of the subsidy removal on poor Nigerians, and to put in place mechanisms for transparency and accountability in the oil sector.

“The allegations that US$2.1 billion and N3.1 trillion of public funds are missing and unaccounted amount to a fundamental breach of national anticorruption laws and the country’s international obligations including under the UN Convention against Corruption to which Nigeria is a state party.

“The Tinubu government has constitutional and international legal obligations to get to the bottom of these allegations and ensure accountability for these serious crimes against the Nigerian people.

“Directing and compelling President Tinubu to promptly probe, name and shame and bring to justice the perpetrators and to recover any missing public funds would advance the right of Nigerians to restitution, compensation, and guarantee of non-repetition.

“Allegations of corruption in fuel subsidy payments suggest that the poor have rarely benefited from the use and management of the payments.

“Investigating and prosecuting the allegations, and recovering any missing public funds would serve the public interest, ensure justice and accountability, and end the entrenched impunity of perpetrators.

“According to the audited reports between 2016 and 2019 by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation (NNPC) failed to remit N663,896,567,227.58 into the Federation Account. The Auditor-General fears that the money may be missing.

“The NNPC also reportedly failed to account for the allocation of crude oil to refineries in 2019. 107,239,436.00 barrels of crude oil were lifted as domestic crude without any document. The Auditor-General fears that the crude valued at N55,891,009,960.63 may have been diverted.

“The NNPC in 2019 also failed to remit N1,955,354,671,268.66 and N55,157,702,848.74 of generated revenues into the Federation Account, contrary to Section 162(1) of the Nigerian Constitution 1999 [as amended]. The Auditor-General fears that the money may have been diverted.

“The NNPC also failed to account for N4,572,844,962.25 of ‘domestic gas receipts’, thereby ‘reducing the distributable revenue in the Federation account.’ The NNPC also in 2019 failed to account for 22,929.84 litres of PMS pumped from refineries and valued at N7,056,137,180.00.

“The NNPC also ‘illegally classified’ 239,800 barrels of crude oil valued at N5,498,045,220 as ‘crude oil losses.