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Account For Missing N500Billion Or Face Legal Action, SERAP Tells NNPCL CEO, Ojulari

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2 months ago

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According to the World Bank, this sum was not remitted to the Federation Account between October and December 2024.

The Socio-Economic Rights and Accountability Project (SERAP) has called on Mr. Bayo Bashir Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPCL) Limited, to provide clarification regarding the missing N500 billion.

According to the World Bank, this sum was not remitted to the Federation Account between October and December 2024.

 

SERAP is urging accountability and transparency in addressing this financial discrepancy.

SERAP urged Mr Ojulari “to identify those suspected to be involved, surcharge them for the full amount involved, and hand them over to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution.”

 

SERAP also urged Mr Ojulari “to invite the EFCC and ICPC to investigate the spending and whereabouts of the N500 billion, and to ensure the full recovery and remittance of the money to the Federation Account without further delay.

 

Last week, the World Bank disclosed that out of the N1.1 trillion revenue from crude sales and other income in 2024, the NNPC only remitted N600 billion, leaving a deficit of N500 billion unaccounted for. The International Monetary Fund (IMF) also recently called for the subsidy removal savings to be transferred to the national budget.

 

In the Freedom of Information request dated 17 May 2025 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “There is a legitimate public interest in explaining the whereabouts of the alleged missing N500 billion oil money and grave violations of the Nigerian Constitution 1999 [as amended]’

“The country’s oil wealth ought to be used solely for the benefit of the Nigerian people, and for the sake of the present and future generations.”

 

According to SERAP, Nigerians have the right to know why the NNPCL failed to remit the subsidy removal savings to the Federation Account.

 

“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest,” the letter read in part.

“Without the full recovery and remittance of the missing N500 billion of oil revenue, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services,” it read.

 

“The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information on the whereabouts of the missing N500 billion of oil revenue.”

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BLOOD BETRAYAL! Two Sisters, a Civil Defence Officer and an Immigration Officer, Busted for Kidnapping Their Own Brother for ₦30M Ransom!

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60 minutes ago

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July 18, 2025

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In a jaw-dropping twist that has left Nigerians in shock, two sisters, Juliet Chukwu (a Civil Defence officer) and Ngozi Nancy Chukwu (an Immigration officer) — have been arrested by the Anti-Cult Squad of Enugu State Police Command for allegedly masterminding the kidnap of their own elder brother, Mr. Friday Chukwu, and a company official, Engr. Igwe Denis Chibueze.

It all started in May when Mr. Friday Chukwu was abducted along the Enugu-PH Express Road. Reports allege that the family paid a ransom of ₦30 million for his release, not knowing his own sisters were behind it.

But the story didn’t end there…

On July 14th, Engr. Igwe Denis Chibueze, CLO of China Oriental Quarry Company, was also kidnapped in a similar fashion, with a ₦10 million ransom demand. A swift operation by security personnel traced the suspects to a hotel where they were caught red-handed splitting ransom money.

Further investigations revealed the sisters had been linked to multiple criminal cases in Ishiagu, Ebonyi State — including staged kidnappings, pipeline vandalism, looting of rail lines, and alleged collaboration with Fulani herders to terrorize local communities.

From uniform to underworld — who can you really trust these days?

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Plateau attacks: ‘Soldiers supporting Fulani militias to attack us’ – Community leader alleges

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5 hours ago

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July 18, 2025

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A community leader in Jebbu Binde village of Ta-Hoss District in Riyom Local Government Area of Plateau State, where gunmen suspected to be Fulani militias attacked on Monday killing over 30 people, has accused the military of supporting the bandits.

The community leader, Rev Davou Musa, who is the Chairman of the Regional Church Council (RCC) of the Church of Christ in Nations (COCIN) in Riyom, made the allegation while addressing Governor Caleb Mutfwang during his visit to the community for an on-the-spot assessment of the damage and to condole with the victims.

While addressing the Governor, Rev Musa revealed that the armed assailants would not have found it so easy to invade the community in large numbers and operate for hours despite military operatives stationed only 200 meters away, if they did not have the backing of the soldiers.

According to the RCC Chairman, despite repeated and frantic calls for help, the military refused to come to their aid and refused to intervene to prevent the carnage, with no arrests made in the aftermath.

He blamed the military for failing in its duty to protect the people and accused the personnel of complicity by shielding the attackers and called on the federal government to withdraw the special military task force deployed in the community since they cannot protect the people.

“I have told the GOC in clear terms and I’m repeating it to your hearing that his (GOC) men are busy supporting the Fulani, even in grazing and farmland destruction,” Musa said.

“The assailants found it easy to invade the community and operated for hours and the soldiers who were stationed only 200 meters away refused to come to our aid despite frantic calls made to them.

“The heinous attack claimed innocent lives, left many others injured, and resulted in the destruction of homes, including a church. Food items belonging to villagers were also looted by the attackers, compounding the tragedy,” he alleged.

Musa also alleged that the soldiers were compromised and more concerned with protecting Fulani cattle than human lives.

“Is it not clear that the military is protecting and shielding the attackers? When Fulani herders are victims of cattle theft, the security forces respond swiftly, deploying multiple Hilux vehicles loaded with armed personnel to investigate and apprehend suspects.

“Conversely, attacks on villages resulting in loss of human life often receive a slower and less robust response. This disparity in security deployment has continued to raise concerns about prioritization and protection of human lives.

‘It is now glaring that the military is compromised and are more concerned with protecting our attackers instead of our people and our communities,” Rev Musa claimed.

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Okigwe in Crisis: Governor Uzodimma’s Silence Amidst Rising Insecurity

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6 hours ago

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July 18, 2025

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Okigwe, a small peaceful town in Imo State, is gripped by fear and uncertainty following a series of alarming incidents. On July 10, 2025, approximately 40 shops were razed down along the Okigwe express roundabout in a suspected arson attack.

Eyewitnesses reported that individuals in police uniforms poured fuel on the shops and set them ablaze, with gunshots fired to scare away onlookers. The gunfire persisted until the next morning, resulting in millions of naira in losses.

Despite the town being heavily surveilled by security forces, including soldiers, none intervened to stop the arson or apprehend the perpetrators.

According to Ekwutosblog security presence only became apparent the following morning, when personnel surrounded the burnt shops, allegedly to prevent people from taking pictures.

This incident is the latest in a string of security breaches in Okigwe. Just weeks ago, armed men attacked villages around the town, killing 24 people, mostly returning from a wake-keeping.

The attacks have sparked widespread concern, with many believing that security agents are complicit in the violence.

Residents are now living in fear, with kidnappings, murders, and disappearances occurring daily. Despite the increased security presence, not a single kidnapper or killer has been arrested.

The people of Okigwe are crying out for answers, and the silence from Governor Hope Uzodimma’s administration has only added to their frustration.

Questions linger: What is happening in Okigwe? Why has Governor Uzodimma remained silent on these incidents? And when will the people of Okigwe be safe again?

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