Abuja, March 22, 2026 – Tensions are rising in Nigeria’s political and economic circles as the Socio-Economic Rights and Accountability Project (SERAP) has threatened legal action against Senate President Godswill Akpabio over the alleged disappearance of ₦200 trillion from the Nigerian National Petroleum Company Limited (NNPCL). The civil society group is demanding full transparency in the ongoing Senate investigation into the matter, insisting that no individual should be shielded from scrutiny, regardless of status or political influence.
In a statement issued on Sunday, SERAP called on Akpabio to direct the Senate Public Accounts Committee to publicly disclose the identities and positions of officials implicated in the alleged financial discrepancies. The organization also demanded the release of key documents reviewed during the probe, including audit reports, financial statements, and official correspondence.
“The ongoing probe by the Public Accounts Committee into the alleged missing ₦200 trillion from the NNPCL has been dragging for an extended period, with repeated delays in the appearance of officials and slow progress in reconciling the disputed figures,” SERAP’s Deputy Director, Kolawole Oluwadare, said in a letter dated March 21, 2026. “Such delays undermine public confidence in the investigative process and create the risk of key evidence being lost or distorted.”
The group emphasized the urgency of timely disclosure, stating that transparency is essential to maintaining public trust, preventing political interference, and allowing Nigerians to independently scrutinize the claims. “Full disclosure of the ongoing investigation is essential to ensure transparency and accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts and investigation,” the letter read.
SERAP insisted that the seriousness of the alleged ₦200 trillion discrepancy demands a process free of ambiguity. “The allegations that ₦200 trillion is missing or unaccounted for, whether fully accurate or partly overstated, can only be taken seriously by Nigerians if the Senate is fully transparent in its ongoing investigation regarding the credibility, plausibility, and accuracy of the claims,” the group added.
The organization also warned that failure to act could weaken Nigeria’s accountability systems and harm the country’s economic future. “There is a legitimate public interest in ensuring that all discrepancies are fully examined and that those responsible are identified and held to account, as part of a broader effort to strengthen governance and protect the nation’s economic future,” SERAP said.
In addition to requesting the disclosure of officials’ identities and supporting documents, the group called for clarity on when implicated individuals are expected to appear before the committee and a definitive timeline for concluding the probe. SERAP also urged that full records of proceedings, including meeting minutes, submissions, and evidence presented, be published. “Transparency regarding the ongoing investigation would prevent any perception of a cover-up or political compromise, and ensure that the facts are clearly established,” the organization stated.
SERAP highlighted longstanding concerns over the NNPCL’s opaque practices, describing the current controversy as part of a broader pattern of limited oversight. “The NNPCL has long operated with significant opacity in its financial and operational activities, which has repeatedly limited public oversight and created fertile ground for corruption, mismanagement or misreporting,” the letter read.
The group warned that repeated delays and poor attendance by officials summoned to the committee could exacerbate public skepticism. “Despite repeated invitations and ultimatums issued by the committee, NNPCL and several of the officials identified in the audit queries have reportedly failed to appear before the panel or provide comprehensive explanations addressing the concerns raised,” SERAP said.
According to the organization, failure by the Senate to act on its recommendations within seven days would compel it to pursue legal action to ensure compliance. “We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the Senate to comply with our request in the public interest,” the statement read.
The ongoing investigation by the Senate’s Public Accounts Committee has focused on claims that approximately ₦200 trillion cannot be accounted for in NNPCL records between 2017 and 2023. Lawmakers have raised concerns over missing supporting documents, inconsistencies in financial figures, and delays caused by the failure of some officials to honor invitations or provide clear explanations.
As public scrutiny intensifies, SERAP has stressed that openness, verification of facts, and timely completion of the probe are essential to preserving public confidence and reinforcing accountability in Nigeria’s management of its natural resources.
