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

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.”
Trending
What Happened in Ibom Air Almost Happened in Enugu Air: Consequences of No Consequence!

“On an Enugu Air flight to Lagos from Abuja this morning, August 16th, another mild drama played out briefly.
As the plane taxied, the pilot, a female captain, announced that there was a recalcitrant passenger who had declined switching off his phone as instructed, and that if the fellow insisted, she might be left with no option but to make a U-turn.
At this point, she had stopped on the runway.
Hearing this warning, other passengers took it upon themselves and started shouting at this potentially disruptive passenger. Eventually, he turned off his phone, and the journey to Lagos continued.
But here is why this piece became compelling and timely. While the purser, a calm and well-mannered lady, was appealing to him to turn off his phone and he refused, hear what he said to her: “Wetin happen for Ibom Air go happen for here now now.”
That’s the result of having a poor reward and sanction system with no consequences. If those who had tried this nonsense had faced the penalties for their action and not the shameful “slap on the wrist” punishment meted out to them, another irreverent passenger would not open his mouth and say, “Wetin happen for Ibom Air go happen for here now now.”
No serious nation tramples on its own laws or chooses when to enforce them or not and against whom. The two recent breaches in air safety protocols and their handling have shown how unserious we are as a people and also why our leadership will continue to create strong people as against strong institutions. It is a conscious decision. It has never been an accident.
With the disastrous handling of the K1 and the K2 matters, even though no attention was given to the incident tagged K3, a template has been created already and it will haunt the Aviation Sector for a long time to come. The shame is not just for the leadership. The people, too, share a large chunk of it as intentional enablers of bad behaviours.
Fans and supporters of the Fuji king are now buying similar gold flasks as a form of solidarity with him, displaying it with arrogance of “na we dey power.” Also, practically every money-miss-road, including government officials, had offered “Auntie Komfo” one form of comfort or the other, obviously because…
But such people will never offer similar encouragement to outstanding students in any field or institution. We celebrate silly things and reward bad behaviours at the expense of more edifying tangibles and intangibles.
Indeed, Nigeria and her people are a case study in human civilisation”.
Olaleye Olawale
Trending
Veteran Nollywood Actor Clem Ohameze Vows to Arrest Okwuluora for Attempting to Raise Funds for His Health

Veteran Nollywood actor Clem Ohameze broke down in tears during a live video broadcast, passionately denying false reports about his health and family spread by Okwuluora.
Ohameze stated that Okwuluora publicly claimed he was gravely ill, abandoned by his son, and solely reliant on his daughter’s care, while simultaneously attempting to solicit funds on his behalf without authorization.
Denouncing these actions as damaging to his reputation, Ohameze emphatically vowed to pursue legal action and have Okwuluora arrested.
Trending
Driver abandons SUV, flees after killing tricycle passenger

An unknown driver of a Lexus SUV on Saturday morning rammed into a tricycle, killing one of the passengers instantly while other occupants sustained varying degrees of injury.
The SUV driver escaped the accident scene with other occupants of the vehicle after the incident, which occurred at Peoples Club by Limca Road, Obosi, close to Onitsha.
Police authorities in the state have confirmed the incident, saying that the deceased was quickly evacuated to the morgue while those who sustained injuries were taken to hospital for treatment.
Spokesperson for Anambra State Police Command, SP Tochukwu Ikenga said the area has also been condoned off to avoid violence, while the abandoned SUV has been recovered.
He said in a statement that the Anambra State Police Command has commenced investigation into the fatal motor accident.
Parts of the statement read: “The accident occurred in the early hours of today, 16th August 2025, at People’s Club/Limca Road, Obosi, involving a Lexus Jeep and two tricycles popularly known as Keke.
“Police operatives attached to Isiowulu Division quickly responded, secured the area, recovered the abandoned vehicle, and evacuated the victims to a hospital, where one was later confirmed dead.
“Preliminary information at the disposal of the Command reveals that the driver of the Lexus Jeep rammed into the tricycles, resulting in the unfortunate death of one occupant.
“Others sustained varying degrees of injury. The vehicle was subsequently abandoned at the scene as its occupants fled.”
He said the Commissioner of Police, CP Ikioye Orutugu, has ordered a full-scale investigation into the incident and appealed to residents of the area to remain calm and cooperate with the police, as efforts are being intensified to unravel the full circumstances surrounding the incident.
-
Politics10 months ago
Mexico’s new president causes concern just weeks before the US elections
-
Business10 months ago
US court acquits Air Peace boss, slams Mayfield $4000 fine
-
Trending10 months ago
NYA demands release of ‘abducted’ Imo chairman, preaches good governance
-
Entertainment10 months ago
Bobrisky falls ill in police custody, rushed to hospital
-
Entertainment10 months ago
Bobrisky transferred from Immigration to FCID, spends night behind bars
-
Politics10 months ago
Russia bans imports of agro-products from Kazakhstan after refusal to join BRICS
-
Politics10 months ago
Putin invites 20 world leaders
-
Education12 months ago
GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI