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By Adewale Sanyaolu
A fresh crisis is looming in the power sector over an alleged missing/diversion of N128 billion public funds from the coffers of the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).
But to ensure public accountability and transparency, the Socio-Economic Rights and Accountability Project (SERAP), says it has filed a lawsuit against the Minister of Power, Mr Adebayo Adelabu and Nigerian Bulk Electricity Trading Plc (NBET), Abuja to account for the missing or diverted N128 billion of public funds under their management.
According to SERAP’s Deputy Director, Kolawole Oluwadare, the allegations of financial mismanagement on both the Ministry and NBET are documented in the latest annual report published by the Auditor-General on September 9, 2025.
SERAP argued that corruption contributes significantly to the frequent grid collapses, as Nigerians last week witnessed the first grid collapse in 2026, plunging the country into darkness.
In the suit number FHC/ABJ/CS/143/2026 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel Adelabu and NBET to account for the missing or diverted N128 billion from the Ministry of Power and NBET.”
SERAP said, it is also seeking: “An order of mandamus to direct and compel Adelabu and NBET to disclose details of how the missing or diverted N128 billion was spent including the dates of disbursement and the purported beneficiaries or contractors, who received the money as well as their registered business names and addresses,”.
SERAP is seeking: “An order of mandamus to direct and compel Adelabu and NBET to disclose the full names, official designations, and offices of all public officers who authorised, approved, or otherwise participated in the release of the missing or diverted N128 billion in the ministry of power and NBET,”.
In the suit, SERAP argued that: “Nigerians continue to pay the price of the widespread and grand corruption in the power sector, saying there is a legitimate public interest in ensuring justice and accountability for these grave allegations,”.
SERAP is also arguing that, “Granting the reliefs sought would contribute to tackling corruption in the power sector and addressing the persistent breakdown of transmission infrastructure in the country, as well as improving access of Nigerians to regular and uninterrupted electricity supply,”.
SERAP further argued 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,”.
According to SERAP, “Ordinary Nigerians continue to pay the price for corruption in the electricity sector–staying in darkness, but still made to pay crazy electricity bills,”.
The lawsuit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Kehinde Oyewumi, and Andrew Nwankwo, reads in part: “These grim allegations by the Auditor-General suggest a grave violation of the public trust, the Nigerian Constitution 1999 [as amended] and international anti corruption standards,”.
“According to the recently published 2022 audited report by the Auditor-General of the Federation, the Federal Ministry of Power failed to account for over N4.4 billion [N4,404,647,938.53] ‘transferred to Mambilla, Zungeru and Kashimbilla project accounts by the Ministry.’”
“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 Ministry paid over N33 million (N33,557,959.00) ‘for foreign travels’, but ‘without any approvals.’ The money ‘was paid as estacode, flight tickets, visa fees and other allowances to enable the Minister and his aides to attend the World Utilities Congress at Abu Dhabi and Huawei innovation land exhibition in Dubai.”
“The travels ‘were never approved by the Secretary to the Government of the Federation or the Head of Civil Service.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.”
The Ministry failed to account for over N230 million [N230,795,255.27] being ‘expenditure on the GIGMIS platform.’ 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 N282 million [N282,672,576.53] as ‘non-personal advances to various staff of the ministry for the procurement of goods and services.’ But the ‘payments were beyond the statutory threshold of N200,000.00.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered.”
“The Nigerian Bulk Electricity Trading Plc., (NBET) Abuja also irregularly awarded contracts for over N427 million [N427,491,866.16]. There was ‘no evidence of advert placements in the procurement journal’.”
The Auditor-General fears ‘the contracts may have been awarded to incompetent contractors’, resulting in ‘loss of government funds.’”
NBET ‘irregularly transferred over N7 billion [N7,620,840,000.00] into purported sub-accounts of unnamed beneficiaries.’ There was also ‘no authority for such payment, contrary to the Financial Regulations.’”
NBET claimed it paid over N9.3 billion [N9,336,986,697.17] to Egbin Power PLC as outstanding payment on GenCos for the Power Sector Reform Programme.’ But there was no document to authenticate the genuineness of the transactions.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered.”
NBET paid over N8 billion [N8,027,355,487.20] ‘to some beneficiaries’ but ‘without entering the transaction into the payment vouchers register and the vote book.’ The Auditor-General fears ‘the money may have been diverted and misapplied.’ He wants the money recovered and remitted to the treasury.
NBET also reportedly ‘awarded contracts of over N420 million [N420,665,525.65] to eleven ineligible consultants.’ The payments ‘were for various consultancy services such as technical support on power plant capacity testing of 5 power plants.’ But there was no evidence that the services paid for were rendered.
The ‘engagement of the consultants also failed to meet due process as required by the Procurement Act.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury,”.
No date has been fixed for the hearing of the suit.
