{"id":124808,"date":"2026-01-05T21:14:01","date_gmt":"2026-01-05T20:14:01","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=124808"},"modified":"2026-01-05T21:14:01","modified_gmt":"2026-01-05T20:14:01","slug":"serap-%e2%82%a6128bn-allegations-predate-adelabus-appointment-ministry","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/serap-%e2%82%a6128bn-allegations-predate-adelabus-appointment-ministry\/","title":{"rendered":"SERAP \u20a6128bn Allegations Predate Adelabu\u2019s Appointment – Ministry"},"content":{"rendered":"
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By Daniel Adaji<\/div>\n
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The Ministry of Power has dismissed insinuations linking Minister of Power, Adebayo Adelabu, to allegations by the Socio-Economic Rights and Accountability Project (SERAP) that over \u20a6128 billion in public funds was missing or diverted.<\/div>\n
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It stressed that the claims relate to the 2022 financial year, before his appointment.<\/div>\n
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The clarification was issued on Monday by the media aide to the Minister, Mr. Bolaji Tunji, following SERAP\u2019s call for a probe into the Ministry of Power and the Nigerian Bulk Electricity Trading Plc. (NBET).<\/div>\n
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In a statement signed by SERAP\u2019s Deputy Director, Mr. Kolawole Oluwadare, the organisation urged President Bola Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, alongside relevant anti-corruption agencies, to investigate allegations that over \u20a6128 billion in public funds were missing or diverted from the Ministry of Power and NBET, Abuja.<\/div>\n
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Reacting, the Office of the Minister of Power clarified that the audit report referenced by SERAP predates the current administration and the appointment of Chief Adelabu, who assumed office in August 2023.<\/div>\n
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In the statement signed by Tunji said:<\/div>\n
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\u201cOur attention has been drawn to the call by the Socio-Economic Rights and Accountability Project (SERAP) urging President Bola Ahmed Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to investigate allegations that over \u20a6128 billion of public funds are missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc.<\/div>\n
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\u201cWhile the Honourable Minister of Power, Chief Adebayo Adelabu, has no objection to calls for investigation, it is important to clearly state that he was appointed in August 2023, whereas the audit report in question relates to the 2022 financial year.<\/div>\n
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\u201cConsequently, the issues raised in the referenced audit report pertain entirely to a period before the Minister\u2019s tenure. The call for investigation therefore has no bearing on the operations or financial activities of the Ministry under the current administration.<\/div>\n
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\u201cThe 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, while remaining focused on its mandate of delivering stable and reliable electricity to all Nigerians.\u201d<\/div>\n
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