The Minister of Power, Adebayo Adelabu, has clarified that the alleged disappearance of ₦128 billion in public funds referenced by the Socio-Economic Rights and Accountability Project (SERAP) occurred before his appointment, stressing that the claims have no connection to the current administration.
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 was missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).
However, in a statement issued on Tuesday by his media aide, Bolaji Tunji, Adelabu said the audit report relied upon by SERAP covers the 2022 financial year, which predates both his appointment and the Tinubu administration.
The Ministry stated:
“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.”
It added:
“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.”
According to the statement,
“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 Ministry reaffirmed its commitment to transparency and accountability, noting that it would cooperate fully with any legitimate investigation addressing legacy issues in the power sector.
“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.”
The statement further described Adelabu as a public official known for strict adherence to due process, probity and accountability in both public and private sector roles, adding that he remains resolute in safeguarding that reputation.
