Missing N500bn:SERAP asks ICPC to probe SURE-P


surepLAGOS—Socio-Economic Rights and Accountability Project, SERAP, has petitioned the Independent Corrupt Practices and Other Related Offences Commission, ICPC, urging them to investigate alleged shortfall in the remittance of accrued funds for the Subsidy Reinvestment and Empowerment Programme, SURE-P, projects amounting to over N500 billion from January 2012 to September 2013.

Thank you for reading this post, don't forget to subscribe!

In a petition by SERAP through its Executive Director, Mr. Tokunbo Mumuni, the group also requested the anti graft commission to bring to justice the perpetrator of the act.

The group stated: “SERAP is seriously concerned that the failure to account for the shortfall of about N500 billion out of the over N800bn which ought to have accrued for the SURE-P projects is a flagrant denial of the social and economic development of millions of Nigerians.

The inability of government officials to account for huge amount of resources mapped out for the improvement of the country is a serious impediment and setback to the goals of development for which the SURE-P funds have been set aside to achieve in the first place.  The denial of the rights of millions of Nigerians has contributed hugely to extreme poverty and civil strife.”


It requested the ICPC to carry out a comprehensive and transparent investigation of allegations of shortfall in the remittance of accrued SURE-P funds in the petroleum sector and to make public its findings, arguing that the investigation would serve as a necessary precursor to strengthening transparency and accountability and reducing the incidence of corruption in the sector.

SERAP also requested for a platform to engage policy makers and political leaders in developing an anti-corruption strategy such as establishing an independent audit group for the purposes of ensuring and recovering the outstanding remittance recovered for the execution of SURE-P projects.

According to the group, “The problem is compounded by the continuing failure of the government to effectively ensure transparency and a genuine system of accountability as well as its failure to investigate and prosecute those high ranking public officials suspected to be involved in corruption. We recall the heightened agitations which followed shortly after the announcement on the removal of oil subsidy in early 2012. The partial removal of oil subsidy targeted a list of developmental demands which the SURE-P funds was set up to meet.

“The challenges created in the shortfall of funds accruing to the SURE-P and the shortfall in remittance to the SURE-P management team, as well as the failure to account for such shortfall is already an outright failure of government to allay the fears of millions of Nigeria against even a partial removal of oil subsidy.”

Babatunde Akinsola
Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

Share post:



More like this

Nigeria Continues Crude-for-Petrol Swap Amid Deregulation Debate

Nigeria is still exchanging 450,000 barrels of crude oil...

NCAA to Launch Consumer Protection Platform for Aviation Sector

The Nigerian Civil Aviation Authority (NCAA) is developing a...
× How can I help you?