Tinubu Urged to probe missing N26b in PTDF, FMPR

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The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to probe the alleged N26 billion missing, diverted or stolen from the Petroleum Technology Development Fund (PTDF) and the Federal Ministry of Petroleum Resources (FMPR) in 2021.

It urged the president to direct Lateef Fagbemi, the Attorney General and Minister for Justice and anti-corruption agencies to investigate the missing fund.

SERAP made the call In a statement issued on Saturday by Kolawole Oluwadare, its Deputy Director.

It said it would take legal actions if the government failed to act within seven days.

The letter reads: “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 consider appropriate legal action to compel your government to comply with our request in the public interest.

“Anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing public funds should be fully recovered and remitted to the treasury,” it said.

“There is a legitimate public interest in ensuring justice and accountability for these grave allegations. Tackling corruption in the oil sector would go a long way in addressing the budget deficit and debt problems.

“The allegations suggest a grave violation of the public trust, the Nigerian Constitution 1999 (as amended), the country’s anticorruption legislation and international anticorruption obligations.

“Poor Nigerians have continued to pay the price for the widespread and grand corruption in the oil sector.

“Despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators.

“According to the 2021 annual audited report by the Auditor-General of the Federation, the Petroleum Technology Development Fund (PTDF) in 2021 reportedly paid over N25 billion[N25,607,890,403.11] for ‘contracts without any supporting documents.

“The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.

“The PTDF also reportedly failed to account for over N326 million [N326,065,638.00] deposited in two banks. The Auditor-General fears the money may be missing and wants it recovered and remitted to the treasury.

“The PTDF reportedly failed to account for over N107 million [N107,691,733.93] being money for ‘the supply, installation, and commissioning of Library automation system and RFID at the Petroleum Training Institute (PTI).

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“The contract for the library ‘was awarded without the prior approval from the National Information Technology Development Agency (NITDA). The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.

“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 your government to comply with our request in the public interest.

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

“These allegations can promptly be investigated and fairly prosecuted. Taking these steps would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.

“Section 13 of the Nigerian Constitution imposes clear responsibility on your government to conform to, observe and apply the provisions of Chapter 2 of the constitution.

“Section 15(5) imposes the responsibility on your government to abolish all corrupt practices and abuse of power.

“Under Section 16(1) of the Constitution, your government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity.

“Section 16(2) further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.

“The UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to which Nigeria is a state party obligate your government to effectively prevent and investigate the plundering of the country’s wealth and hold public officials to account for any violations.

“Specifically, article 26 of the UN convention requires your government to ensure ‘effective, proportionate and dissuasive sanctions’ including criminal and non-criminal sanctions, in cases of grand corruption.

“Article 26 complements the more general requirement of article 30, paragraph 1, that sanctions must take into account the gravity of the corruption allegations.”

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