Akpabio Faces Legal Action to Reveal Names Behind Alleged ₦200 Trillion NNPCL Loss

Pressure is mounting on Senate President, Godswill Akpabio, as a civil society group has threatened legal action over the alleged ₦200 trillion missing from the Nigerian National Petroleum Company Limited (NNPCL).

The demand is centered on full disclosure of those allegedly involved, as well as details of the ongoing Senate probe into the matter.

The Socio-Economic Rights and Accountability Project (SERAP) has asked Akpabio to direct the Senate Public Accounts Committee to make public the identities and positions of all officials linked to the alleged financial discrepancies.

Moreover, the organisation insists that no individual should be shielded, regardless of status or political influence.

SERAP also called for the release of key documents tied to the investigation. These include audit reports, financial statements, and official correspondences reviewed by the committee.

It further demanded clarity on when affected officials are expected to appear before the panel and a definite timeline for concluding the probe.

Beyond that, the group urged the Senate to publish full records of the proceedings. This covers meeting minutes, submissions, and all evidence presented so far.

According to SERAP, such transparency would allow Nigerians to independently examine the process and verify the claims.

The Senate’s Public Accounts Committee is currently investigating claims that about ₦200 trillion cannot be accounted for in NNPCL’s records between 2017 and 2023.

Lawmakers have raised concerns over inconsistencies in the figures, as well as missing supporting documents. The probe has also been slowed by the failure of some officials to honour invitations or provide clear explanations.

In a letter dated March 21, 2026, and signed by its Deputy Director, Kolawole Oluwadare, SERAP stressed the urgency of openness in the investigation. The group warned that secrecy could weaken public trust and create room for political interference.

“Full disclosure of the ongoing investigation is essential to ensure transparency and accountability, prevent political interference, and allow Nigerians to independently scrutinise the facts and investigation.”

SERAP added that the seriousness of the allegation requires a transparent process that leaves no room for doubt.

“The allegations that ₦200 trillion is missing or unaccounted for, whether fully accurate or partly overstated, can only be taken seriously by Nigerians if the Senate is fully transparent in its ongoing investigation regarding the credibility, plausibility, and accuracy of the claims.”

The organisation maintained that openness would remove any suspicion of compromise or cover-up.

“Transparency regarding the ongoing investigation would prevent any perception of a cover-up or political compromise, and ensure that the facts are clearly established.”

It further argued that making verified information public would help oversight bodies and citizens assess the situation without bias.

“Providing complete and verifiable information would allow the public and oversight institutions to assess the situation objectively and determine where the truth lies regarding the allegations.

“The magnitude of the sum, combined with the NNPCL’s history of opaque practices, underscores the urgency of a thorough, impartial, and transparent investigation.

“Allowing these allegations to be ignored, delayed, or politicized risks normalizing impunity and diminishes the public’s right to know how national wealth is being managed.”

SERAP warned that failure to act could weaken accountability systems and harm Nigeria’s economic future.

“There is a legitimate public interest in ensuring that all discrepancies are fully examined and that those responsible are identified and held to account, as part of a broader effort to strengthen governance and protect the nation’s economic future.”

The group gave the Senate a seven-day window to act on its demands. It said legal steps would follow if there is no response within that period.

“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 take all appropriate legal actions to compel you and the Senate to comply with our request in the public interest.”

SERAP also expressed concern over delays in the investigation. It noted that repeated postponements and poor attendance by invited officials are slowing down progress and weakening confidence in the process.

“The ongoing probe by the Public Accounts Committee into the alleged missing ₦200 trillion from the NNPCL has been dragging for an extended period, with repeated delays in the appearance of officials and slow progress in reconciling the disputed figures.

“Such delays undermine public confidence in the investigative process and create the risk of key evidence being lost or distorted.”

The group insisted that the committee must act quickly and conclude its work within a clear timeframe.

“It is imperative that the Committee promptly concludes its investigation in a timely and transparent manner, with clear timelines for the appearance of implicated individuals and the publication of findings, so that accountability is achieved and Nigerians are able to fully understand the outcome.”

SERAP also pointed to long-standing concerns around transparency within the NNPCL, describing the current situation as part of a broader pattern.

“The NNPCL has long operated with significant opacity in its financial and operational activities, which has repeatedly limited public oversight and created fertile ground for corruption, mismanagement or misreporting.”

It added that openness in the current probe would help rebuild public trust.

“Transparency in this regard would help build public confidence that the investigation is not being shaped by political considerations or undue influence.”

Tensions between the Senate and the NNPCL have continued to rise. Several officials reportedly failed to honour invitations from the committee or provide detailed responses to audit queries.

“Despite repeated invitations and ultimatums issued by the committee, NNPCL and several of the officials identified in the audit queries have reportedly failed to appear before the panel or provide comprehensive explanations addressing the concerns raised.

“This non-compliance has heightened tensions between the legislature and the NNPCL, and raised concerns and unresolved issues about transparency and accountability in the management of the country’s natural wealth and resources.”