A Coalition of Civil Society Organisations on Transparency and Accountability, has called on the Nigerian Senate to discontinue what it described as a misdirected and embarrassing probe into an alleged missing ₦210 trillion from the Nigerian National Petroleum Company Limited (NNPCL), urging lawmakers instead to concentrate on substantive reforms in the petroleum sector.
The Coalition in a press statement jointly signed by Comrades Danesi Momoh Prince and Igwe, Ude-Umanta, Conveners for Empowerment for Unemployed Youth Initiative and Guidance of Democracy and Development Initiative respectively, criticised the ongoing investigation as a circus show that lacks factual basis and wastes public resources.
According to the CSOs, “since last year, the Senate of the Federal Republic of Nigeria through its Public Accounts Committee has embarked on a senseless rigmarole and shadow chasing in the name of recovering N210 trillion naira missing (only in their imagination or mischief) from the NNPCL.
This circus show is meant for the committee to appear to be doing something, thereby inadvertently tarnishing the images of those the so called investigation points at and infuriating uninformed Nigerians against them. We insist that the Senate knows deep in their hearts that no such amount of money is missing. So only them can explain what they are actually up to.
“The claim of a missing ₦210 trillion is imaginary and unsubstantiated. The Senate’s continued focus on the allegation diverts attention from critical issues affecting Nigeria’s oil and gas industry. We are deeply concerned that the Senate is investing time and taxpayer money into probing figures that have no credible backing.
“This approach not only misleads the public but also undermines the seriousness of legislative oversight. It is our informed position that the Senate should prioritise pressing challenges in the petroleum sector, including transparency in oil revenue management, fuel subsidy concerns, regulatory inefficiencies, and the implementation of the Petroleum Industry Act (PIA).
“Already, the Economic and Financial Crimes Commission (EFCC) has already looked at the records under review. We believe that if there are further questions, those involved will answer them or face the consequences there of. It is not for the Senate to continue to create the impression that some people may have stolen N210 trillion of public money. It is not correct under the circumstance and it should stop. This appears to be pure legislative shenanigans.
“Sensational and unfounded probes can risk eroding investor confidence and damaging the credibility of Nigeria’s governance institutions. Since the petroleum sector remains the backbone of Nigeria’s economy, what is needed now is focused, data-driven oversight as against the clout chasing investigations.
The Coalition equally charged the Nigerian Senate to come clean and sanitise their house against the myraid accusations and allegations that have trailed their activities
“We think the Senate should rather be sober at this time the National Assembly is being accused of legislative rigging of the 2026 Electoral Act or deliberate insertion of clauses clearly designed for electoral fraud.
“Let us further remind Nigerians that since the inauguration of the 3rd National Assembly till this 10th one, the National Assembly has never recovered a kobo for Nigeria in all their probes. Instead, a lawmaker has gone to prison for receiving bribe during an orchestrated probe of the oil sector (which is exactly the same as this one by Public Accounts Committee of the Senate).
“Our suspicion based on the antecedents of the National Assembly is that the Senator Aliyu Wadada Public Accounts Committee may be trying to force the accused persons to compromise. This is electioneering time and we know some of the politico-financial undercurrents.
The CSOs concluded by calling for a more responsible and evidence based approach from lawmakers, emphasising the need for reforms that would enhance “accountability, efficiency, and sustainable growth in the sector.
“We all support public accountability. But when they come with deliberate public misinformation, bandied figures and attempt to embarrass those who offered meritorious national service, it must be rejected in the interest of justice and fairness. The Senate should abandon this embarrassment of a so called probe and focus on issues that are relevant to national economy and development.
“Infact, we wish to advise the Senate to help the unemployed, underemployed and masses of the Nigerian people by focusing on how NNPCL can deliver better under the current leadership where the business of the company appears more secret and veiled than security information and activities”.