The Socio-Economic Rights and Accountability Project (SERAP), has asked the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPCL), Mr. Bayo Bashir, to account for and explain the whereabouts of the missing N500 billion that the NNPCL failed to remit to the Federation Account between October 2024 and December 2024, as revealed by the World Bank.
In a Freedom of Information request dated May 17, 2025 signed by SERAP’s deputy director, Kolawole Oluwadare, SERAP enjoined 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 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”.
