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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.”
Entertainment
2Baba Cries Out For Help in Now Deleted Instagram Post
This morning, 2Baba posted “Help Me” on his Instagram stories, but less than 20 minutes later, the message vanished.
For the past few days, his relationship with his current wife, Senator Natasha Osawaru, has been under serious scrutiny, as a series of public incidents have surfaced and fuelled widespread speculation about the state of their marriage.
His cry for help should not be taken lightly. But who will answer him?
Will it be his family, his close friends, or the entertainment industry that has benefited from his legendary career?
At this point, one thing is clear. The music icon seems to be calling for real support and those around him cannot afford to look away.
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BREAKING: Unknown Gunmen Attack Gov. Otti’s Advance Team In Imo, As Scores Were Kidnapped From A Bus Along Owerri-Road Road
An advance team of Abia State Governor, Dr. Alex Otti, escaped unhurt after unidentified gunmen opened fire on their vehicle in the early hours of Tuesday, December 2, 2025, along the Umuowa–Ihite axis in Imo State.
The three-member team was en route to Sam Mbakwe Cargo Airport, Owerri, when the attack occurred shortly before the airport junction.
In a statement electronically signed by the Chief Press Secretary to the Governor, Mr. Ukoha Njoku Ukoha, the Abia Government clarified that Governor Otti’s main convoy was not involved in the incident and was nowhere near the location at the time.
“The convoy of His Excellency, Dr. Alex Chioma Otti, was not attacked. No member of the advance team or any other person sustained injury, and no life was lost,” the statement stressed, urging the public to disregard rumours suggesting otherwise.
It was learned that Security agencies have been notified, and investigations are underway to identify and apprehend the assailants.
Meanwhile, a commercial bus plying along Owerri -Aba road towards the Ngor Okpala axis was attacked Monday and scores of passengers were feared kidnapped by yet-to-identify gunmen.
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Gunmen attack Ngige’s convoy in Anambra
The convoy of former Minister of Labour and Employment, Senator Chris Ngige, was attacked by gunmen in Umuoji, Idemili North Local Government Area of Anambra State.
Ngige who confirmed the incident to newsmen, stated that he was not in the convoy when the attack occurred. He mentioned that several people were shot and injured.
“I was not in the convoy. I’m still alive and well. Those hoodlums have started again. I came to my state to relax, but what happened is unfortunate. I will go back to Abuja. But I assure those who did this, they will not go unpunished.” he said
The vehicles were reportedly returning from a mechanic workshop in Nkpor when the gunmen struck along the busy Umuoji–Nkpor Road leading to Alor, Ngige’s hometown.
According to Mr. Fred Chukwulobelu, Ngige’s former Special Adviser on Media, a policeman in the pilot car was shot, and the attackers, dressed in police and army uniforms, took away his gun and uniform.
He also confirmed that a woman filming the incident was fatally shot. He added that a shop owner who rushed out to see what was happening was also shot; he lost significant blood and is scheduled for surgery, but is expected to recover fully.
The pilot car was riddled with bullets, while the wounded escort leader has undergone surgery and is also expected to recover.
Meanwhile, the Anambra State Police Command said it has launched a state-wide manhunt for the perpetrators.
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