For stories, adverts, & ENQUIRIES, wHATSAPP US @ +2347036240302
SERAP Demands Probe Into N78.8Billion Unaccounted Cash Transfer Funds, Gives Tinubu 7-Day Ultimatum
SERAP Demands Probe Into N78.8Billion Unaccounted Cash Transfer Funds, Gives Tinubu 7-Day Ultimatum
CORRUPTION
The Nigerian Record
9/6/20264 min read
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to order an urgent investigation into over N78.8 billion in public funds allegedly diverted, unaccounted for or irregularly spent under Nigeria's cash transfer and social protection programmes.
SERAP made the demand in a letter dated September 5, 2026, signed by its Deputy Director, Kolawole Oluwadare, and released on Sunday.
The organisation said the allegations were contained in the 2024 Annual Report of the Auditor-General of the Federation, published on August 7, 2026.
According to SERAP, the audit findings cover transactions and activities undertaken between January and December 2023, with some matters extending to December 31, 2024.
The organisation called on Tinubu to direct the Ministry of Humanitarian Affairs and Poverty Reduction, the National Cash Transfer Office (NCTO) and the National Social Safety Nets Coordinating Office (NASSCO) to account for the funds and publish detailed records of the transactions.
SERAP specifically demanded that the government publish the full audit trail of N33.751 billion reportedly transferred to 3,295,207 households and beneficiaries across 35 states in 2023.
It said the National Cash Transfer Office failed to provide REMITA statements and other records needed to authenticate the payments and establish whether the beneficiaries were genuine and eligible.
"Every naira identified in the report must be properly accounted for, and any public funds found to have been diverted, misapplied or 'paid to ineligible or fictitious beneficiaries' must be fully recovered and remitted to the Treasury," SERAP said.
The group also demanded an explanation for N36.744 billion in payments allegedly made without prepayment audit or internal audit checks.
Other expenditures it wants accounted for include N4.616 billion in payments without adequate supporting documents, N350.182 million disbursed to state coordinators for the enrolment of unbanked beneficiaries, N89.511 million spent on store items allegedly not delivered, and N17.422 million advanced to staff for diesel purchases.
SERAP said the Auditor-General's report also raised concerns over N280.42 million paid as mobilisation and advance payments to payment service providers without Advance Payment Guarantees.
The organisation further cited N393.71 million in unutilised funds reportedly disbursed to nine states for beneficiary enrolment activities, saying the NCTO claimed the money was returned to the Treasury but the Auditor-General found no evidence that the funds were credited to the Consolidated Revenue Fund.
On NASSCO, SERAP said the Auditor-General identified N2.55 billion in questionable or unaccounted-for expenditure.
The organisation said NASSCO paid N2.24 billion through 158 vouchers without prepayment audit, while N44.55 million was reportedly spent on laptops that were neither delivered nor entered in the store ledger.
It also cited N19.76 million paid for advertisements without evidence that the publications were made and N141.01 million paid to two contractors for software without the required clearance from the National Information Technology Development Agency.
According to SERAP, the audit report further identified N16.93 million paid to 56 officers for National Social Register data reconciliation without supporting documentation, as well as N14.53 million in reimbursements relating to validation and verification activities without adequate records.
The organisation said the report also raised concerns over N27.56 million allegedly awarded to an unqualified contractor for the design and printing of materials and N44 million in insurance premiums paid to two companies without evidence of the premium payments.
SERAP urged the President to direct appropriate anti-corruption agencies to thoroughly investigate the allegations and recover any public funds found to have been improperly spent, diverted or lost.
"Anyone suspected to be responsible should be sanctioned and prosecuted as appropriate if sufficient admissible evidence is established, irrespective of status, position or institutional affiliation," the organisation said.
It also called for the publication of a clear schedule showing amounts recovered, dates of recovery, institutions responsible and the Treasury accounts into which recovered funds were paid.
SERAP demanded that the government reconcile cash-transfer payments against the National Social Register and National Beneficiary Register and independently verify beneficiaries to identify duplicate, fictitious, deceased, ineligible or otherwise irregular beneficiaries.
It also called for the publication of state-by-state beneficiary figures, amounts disbursed, payment dates, failed and reversed transactions, amounts returned to the Treasury and administrative and transaction costs associated with the programme.
The organisation urged the Ministry to establish or disclose an independent mechanism through which people listed as beneficiaries but who did not receive payments can lodge complaints.
It further called for a comprehensive and regularly updated register of beneficiaries, subject to safeguards protecting the personal data and privacy of vulnerable Nigerians.
SERAP said the findings raise serious questions about the integrity and effectiveness of Nigeria's social protection system, particularly because the funds are intended to assist poor and vulnerable households.
"The failure to provide basic payment records and beneficiary information capable of establishing that public funds reached genuine beneficiaries undermines public confidence in the cash-transfer programme and creates a serious risk that funds intended for some of Nigeria's poorest and most vulnerable citizens may have been lost, misapplied or paid to persons who were not entitled to receive them," it said.
The group gave the President seven days from the receipt or publication of the letter to act on its demands.
SERAP warned that if the government fails to respond within the stipulated period, it may consider legal action, including proceedings before the ECOWAS Court and the World Bank Accountability Mechanism's Inspection Panel.
The organisation said its demands were grounded in Nigeria's constitutional obligations and the country's commitments under international anti-corruption instruments, including the United Nations Convention against Corruption and the African Union Convention on Preventing and Combating Corruption.
"There is a legitimate public interest in ensuring justice and accountability for these very serious allegations," SERAP said