The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to initiate a thorough investigation into allegations that over N26 billion public funds were either stolen or misused from the Petroleum Technology Development Fund (PTDF) and the Federal Ministry of Petroleum Resources in 2021.

The organisation is specifically asking the Tinubuled government to direct the Attorney-General of the Federation (AGF), Mr Lateef Fagbemi (SAN), and relevant anti-corruption agencies to address these claims.

These concerns stem from a detailed report published by the Office of the Auditor-General of the Federation on November 13, 2024.

The audit report highlights several questionable transactions involving both the PTDF and the ministry, pointing to potential misappropriations and a lack of accountability for significant amounts of public funds.

According to SERAP’s deputy director, Kolawole Oluwadare, these alleged acts of corruption must be thoroughly investigated, and any individuals found responsible should face appropriate legal action.

The 2021 auditor-general’s report revealed several troubling discrepancies, including the PTDF paying over N25 billion for contracts without any supporting documentation, raising fears that the funds may have been diverted.