SERAP Drags Power Minister, NBET To Court Over Alleged N128bn Missing Funds
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The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Minister of Power, Adebayo Adelabu and Nigerian Bulk Electricity Trading Plc., (NBET), Abuja “over the failure to account for the missing or diverted N128 billion of public funds from the Ministry of Power and NBET.”
Disclosing this in a statement on Sunday, SERAP’s Deputy Director, Kolawole Oluwadare, said corruption contributes significantly to the frequent grid collapses, as Nigerians last week witnessed the first grid collapse of 2026, plunging the country into darkness.
It noted that the grave allegations are documented in the latest annual report published by the Auditor-General on September 9, 2025.
The suit with number FHC/ABJ/CS/143/2026 was filed last Friday at the Federal High Court in Abuja.
According to the statement, SERAP wants “an order of mandamus to direct and compel Mr Adelabu and NBET to disclose the full names, official designations, and offices of all public officers who authorized, approved, or otherwise participated in the release of the missing or diverted ₦128 billion in the ministry of power and NBET.”
“Nigerians continue to pay the price for the widespread and grand corruption in the power sector. There is a legitimate public interest in ensuring justice and accountability for these grave allegations,” the statement read.
SERAP is arguing that, “granting the reliefs sought would also strike a blow against the impunity of those responsible for the missing or diverted public money meant to provide Nigerians with access to regular and uninterrupted electricity supply.”
“Ordinary Nigerians continue to pay the price for corruption in the electricity sector–staying in darkness, but still made to pay crazy electricity bills.
“These grim allegations by the Auditor-General suggest a grave violation of the public trust, the Nigerian Constitution 1999 [as amended] and international anticorruption standards.
“There was ‘no evidence of how the funds were expended.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.
“The Ministry also paid over N95 billion [N95,415,183,701.83] to ‘some contractors for various projects.’ But ‘there was no document on the payments, and no evidence that the projects existed and were executed.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered,” the statement read.
