The Minister of Power, Adebayo Adelabu, has said that the alleged ₦128 billion in missing public funds cited by the Socio-Economic Rights and Accountability Project (SERAP) predate his appointment.
The clarification followed a call by SERAP’s Deputy Director, Kolawole Oluwadare, urging President Bola Tinubu to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), as well as relevant anti-corruption agencies, to investigate allegations that over ₦128 billion was missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).
In a statement issued by his media aide, Bolaji Tunji, Adelabu said the audit report relied upon by SERAP covers the 2022 financial year, a period before the current administration and prior to his appointment as minister in August 2023.
“Our attention has been drawn to SERAP’s call urging the President to direct the Attorney General and anti-corruption agencies to investigate allegations that over ₦128 billion of public funds are missing or diverted from the Ministry of Power and NBET,” the statement said.
“While the Honourable Minister has no objection to calls for investigation, it is important to note that the audit report in question relates strictly to the 2022 financial year, which predates his tenure.”
The statement added that the issues raised in the report have no connection to the operations or financial activities of the Ministry of Power under the current administration.
“The Office of the Honourable Minister reaffirms its commitment to transparency and accountability and will cooperate fully with any legitimate process aimed at addressing legacy issues in the power sector,” it said, adding that the minister remains focused on delivering stable and reliable electricity to Nigerians.
The ministry also stressed that Adelabu is widely regarded for his adherence to due process, probity and transparency, as demonstrated in his previous public and private sector roles, and remains committed to upholding those standards.
