Alleged Missing ₦128bn Was Before My Appointment As Minister, Adelabu Replies SERAP

The Minister for Power, Adebayo Adelabu, has said that the alleged missing ₦128 billion public funds referred to by the Socio-Economic Rights and Accountability Project (SERAP) predated his appointment.

The clarification followed calls 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), alongside relevant anti-corruption agencies, to investigate allegations that over ₦128 billion in public funds were missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).

However, a statement issued by Adelabu’s Media Aide, Bolaji Tunji, noted that the audit report upon which SERAP based its request relates strictly to the 2022 financial year, a period that predates the current administration and the appointment of the incumbent Minister.

The Ministry noted, “Our 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 ₦128 billion of public funds are missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc.

“While 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.

“Consequently, the issues raised in the referenced audit report pertain entirely to a period before the Minister’s tenure. The call for investigation, therefore, has no bearing on the operations or financial activities of the Ministry 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, while remaining focused on its mandate of delivering stable and reliable electricity to all Nigerians.”

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The statement further emphasised that the current Minister of Power is widely regarded for his strict adherence to due process, probity, transparency, and accountability, as demonstrated in his previous roles in both the public and private sectors, and remains resolute in safeguarding this reputation.