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SERAP Sues Buhari over ‘Missing N11 Trillion Electricity Fund’
Socio-Economic Rights and Accountability Project (SERAP) has sued President Muhammadu Buhari “for failing to investigate allegations that over N11 trillion meant to provide regular electricity supply since 1999 may have been stolen, mismanaged, or diverted into private pockets.
SERAP is seeking “an order of mandamus to direct and compel President Buhari to investigate how over N11 trillion meant to provide regular electricity supply has allegedly been squandered by governments since 1999” in the suit number FHC/L/CS/1119/2022 filed last week at the Federal High Court in Lagos.
According to reports, the electricity grid has failed at least three times in the past five months and 130 times in the past seven years, leaving many homes in the country in the dark.
The World Bank estimates that Nigerian businesses lose $29 billion annually due to epileptic power supply.
SERAP is also seeking “an order of mandamus to compel President Buhari to ensure the prosecution of anyone suspected to be responsible for the missing electricity fund, as appropriate, and to ensure the tracing and full recovery of any missing public funds.”
SERAP is arguing that, “It is in the public interest to ensure justice and accountability for alleged corruption and mismanagement in the electricity sector, which has resulted in the failure of governments to solve Nigeria’s perennial power problem.”
According to SERAP, “The staggering amounts of public funds alleged to have been stolen over the years in the sector have had catastrophic effects on the lives of millions of Nigerians, akin to crimes against humanity against the Nigerian people.”
SERAP is arguing that, “The failure to trace, find and recover the missing electricity fund is antithetical to the public interest, the requirements of the Nigerian Constitution 1999 [as amended], and the country’s international obligations.”
SERAP is also arguing that, “Nigerians have for far too long been denied justice and the opportunity to get to the bottom of why they continue to pay the price for corruption in the electricity sector–staying in darkness, but still made to pay crazy electricity bills.”
SERAP is also arguing that, “Investigating the allegations of missing N11 trillion electricity funds, prosecuting suspected perpetrators and recovering any missing public funds would end a culture of impunity. It would also address persistent collapse of the electricity grid, and improve access to and affordability of electricity in the country.”
SERAP is also arguing that, “Corruption in the electricity sector and the lack of transparency and accountability in the use of public funds to support the operations of DISCOS have resulted in regular blackouts, electricity grid collapse, and unlawful hike in electricity tariffs.”
SERAP is also seeking “an order of mandamus to direct and compel President Buhari to refer to the International Criminal Court all unimplemented reports of corruption in the electricity sector gathering dust on the shelves, and to arrest and surrender those named in the reports to the court for prosecution.”
Joined in the suit as Respondent is Mr Abubakar Malami, SAN, Attorney General of the Federation and Minister of Justice.
The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Ms Adelanke Aremo, read in part: “Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. These commitments ought to be fully upheld and respected.”
“Corruption in the electricity sector has also continued to disproportionately affect the most disadvantaged and vulnerable sectors of the population who cannot readily afford expensive generators in order to have a reliable power supply.”
“The failure of successive governments and high-ranking government officials to prevent corruption in the electricity sector and to bring suspected perpetrators to justice is the primary cause of the persistent crisis in the electricity sector, including the exploitation of electricity consumers, and collapse of the electricity grid.”
“The African Commission on Human and Peoples’ Rights has adjudged the failure of the States to provide basic services such as electricity as violating the right to health.”
“Citizens are frustrated at persistent allegations of corruption in the sector, and the impacts on their human rights. Prosecuting perpetrators would address the grave travesty that has for many years occurred in the power sector.”
“Impunity for corruption in the electricity sector has for many years forced ordinary Nigerians to stay in darkness, but still made to pay crazy electricity bills.”
“Successive governments have failed to increase power generation and provide Nigerians with regular and uninterrupted electricity supply, with many electricity contracts shrouded in secrecy, and trillions of Naira going down the drain.”
“Impunity for corruption in the electricity sector will continue as long as high-ranking public officials go largely unpunished for their alleged crimes.”
“The Buhari administration has legal obligations under Section 15(5) of the Nigerian Constitution to abolish all corrupt practices and abuse of power, and article 26 of the UN Convention against Corruption to ensure effective prosecution of allegations of corruption.”
“Alleged corruption and mismanagement in the electricity sector and the repeated collapse of the electricity grid have continued to deprive Nigerians of economic opportunities, subjecting them to cruel and degrading treatment.”
“Under Section 16(1) of the Constitution, the government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity.’”
“Section 16(2) further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”
“The failure by successive governments to tell Nigerians the truth about allegations of corruption in the power sector amounts to a failure to ensure that electricity services are progressively made available, on the basis of equality and non-discrimination.”
“The details of the missing N11 trillion electricity funds are contained in a SERAP report titled: From Darkness to Darkness: How Nigerians are paying the Price for Corruption in the Electricity Sector.”https://www.tvcnews.tv/2022/06/governor-sanni-bello-gives-out-deputys-daughter-in-marriage/
“According to the report, the total estimated financial loss to Nigeria from corruption in the electricity sector starting from the return to democracy in 1999 to date is over N11 trillion. This represents public funds, private equity and social investment (or divestments) in the power sector.”
“It is estimated that the loss may reach over N20 trillion in the next decade given the rate of Government investment and funding in the power sector amidst dwindling fortune and recurrent revenue shortfalls.”
No date has been fixed for the hearing of the suit.
News
Senate Committee Partners with Kuda Bank to Tackle Compliance Crisis as Nigeria Loses ₦3.4 Trillion
Over ₦3.4 trillion in financial infractions were uncovered across federal Ministries, Departments, and Agencies (MDAs) in 2021, according to the Auditor General’s report — a staggering figure that highlights Nigeria’s deepening compliance crisis and the urgent need for stronger oversight in public institutions.
In response, the Senate Committee on Legislative Compliance is hosting a high-level workshop to address the root causes of weak oversight and institutional gaps. The two-day event, with the theme ‘Consolidating Strategies for Strengthening Legislative Compliance by MDAs’, will take place on April 15 and 16, 2025 at NAF Suites, Abuja, bringing together lawmakers, regulators, and over two hundred representatives from federal MDAs.
Kuda Microfinance Bank is co-sponsoring the workshop as part of its commitment to supporting responsible innovation, governance, and regulatory alignment in Nigeria’s financial ecosystem.
Rasaq Kadri, Kuda’s Head of Compliance, will deliver a keynote address on the second day of the event, highlighting the efforts of Nigeria’s fintechs to promote inclusion and financial literacy without compromising on compliance best practices.
“When public funds go unaccounted for, it doesn’t just damage government credibility, it affects the entire financial ecosystem, including fintechs,” said Kadri. “We can’t build trust-driven products in a trust-deficient environment. Every time compliance is treated as a box-ticking exercise, we miss the chance to build something that lasts. Fintechs have the tools and perspective to support better governance, but more importantly, we have a responsibility to be part of the solution.”
As a sponsor, Kuda will take the workshop to engage directly with key stakeholders in Nigeria’s regulatory and public service ecosystem.
Plenary sessions will be chaired by the Honourable Attorney General of the Federation, Lateef Fagbemi SAN, and the Honourable Minister of Finance, Wale Edun. Conversations will focus on closing compliance gaps, strengthening institutional transparency, and promoting cross-sector collaboration.
The Senate Committee on Legislative Compliance Workshop is a unique platform for dialogue, knowledge-sharing, and collaborative action.
The Federal Government has inaugurated the new Board of Directors of Galaxy Backbone Limited (GBB). The board’s mandate is to lead Nigeria’s digital transformation in Information and Communication Technology (ICT) infrastructure and services.
It will support Federal Government Ministries, Departments, and Agencies (MDAs) in a fast-changing landscape.
George Akume, Secretary to the Government of the Federation, led the inauguration. He emphasised the government’s commitment to making GBB more agile, responsive, and impactful. The aim is to drive national digital public infrastructure and service delivery. This was according to a statement by Segun Imohiosen, Director of Information and Public Relations.
The board has George Akume as Chairman. Its members include Rabi’a Adamu Waziri from the Petroleum Technology Development Fund (PTDF), Abubakar Abdulqadir Maje from the Joint Stock Association (JSA), Kemi Owonubi from the Ministry of Finance Incorporated (MOFI), and Margareth Ebute from the Ministry of Communications and Digital Economy.
Other members are Ibrahim Adeyanju, Olusegun, Olumbe Akinkugbe, Sanni Ibrahim Mohammed, and Adama Pindar from Galaxy Backbone Limited.
In his acceptance speech, Prof. Ibrahim Adepoju Adeyanju, Managing Director of Galaxy Backbone Limited, assured that the board will focus on sustainability. He said it plans to realign its vision and build a strong foundation for achieving strategic goals.
He also noted that within one year, the agency developed its Integrated Digital Transformation Strategy (IDTS). This strategy will run from 2025 to 2028.
Smart Treasure (ST Team) has honored the Deji of Akure, His Royal Highness Ọbá Aladetoyinbo Ogunlade Aladelusi, Odundun II, CFR, with a plaque of recognition for his dedication to the welfare of his subjects.
The presentation was made at the monarch’s palace in Akure by a delegation led by Instructor Luke Mbadugha from the Lagos Operations Center.
The visit was part of ongoing discussions on a partnership aimed at boosting agriculture in Akure, Ondo State.
The initiative, spearheaded by the ST Team, seeks to ensure the availability of farmland for agricultural purposes.
Under the arrangement, the ST Team will provide seedlings and manpower, while a significant portion of the proceeds will be distributed to the indigenes at no cost.
The remaining proceeds will support the administrative operations of the ST Team.
In his response, Ọbá Aladetoyinbo announced the allocation of a parcel of land at Ofosu, along the Ondo-Benin Road, for the project.
He described the initiative as a commendable effort to enhance food security for both the local community and the nation.
The monarch also called for a follow-up meeting to facilitate the assessment of the land for the project’s commencement.
Meanwhile, farming activities are set to resume at Aladodo Isikan in Akure South Local Government Area, another site designated for the agricultural project.
The four-acre land will be used to cultivate crops such as yam, cassava, plantain, and maize. A test run of maize planting began on April 9, 2025, with expectations of harvesting in three months.
Kabiesi Akinwunmi Adekanmbi Obey, the monarch of Olulero Okelero, Onitan Isikan, lauded the ST Team for their commitment to ensuring food availability.
He emphasized the importance of agriculture, stating, “Whoever brings food brings life.”
The ST Team, an investment platform dedicated to reducing poverty in Africa by 30% by 2027, has been actively involved in various Corporate Social Responsibility programs, including this agricultural initiative.
The project underscores their mission to create financial freedom and improve the quality of life for individuals across the continent.
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