Adelabu: Alleged Missing N128bn Predated My Appointment as Minister 

Emmanuel Addeh in Abuja 

The Minister of Power, Adebayo Adelabu, has issued a clarification regarding recent calls by the Socio-Economic Rights and Accountability Project (SERAP) for a probe into the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET) over an alleged missing N128 billion.

Media Aide to the minister, Bolaji Tunji,  in a statement in Abuja regarding the issue, said the matter predated the appointment of Adelabu to head the ministry of power.

SERAP’s Deputy Director, Mr. Kolawole Oluwadare, had urged President Bola Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi (SAN) alongside relevant anti-corruption agencies, to investigate allegations that over N128 billion in public funds were missing or diverted.

Responding to the development, Adelabu stated that the audit report upon which SERAP based its request relates strictly to the 2022 financial year, a period that predates the current administration and the appointment of the incumbent minister.

“While the Honourable Minister of Power, Chief Adebayo Adelabu, has no objection to calls for investigation, it is important to clearly state that he was appointed in August 2023, whereas the audit report in question relates to the 2022 financial year.

“Consequently, the issues raised in the referenced audit report pertain entirely to a period before the minister’s tenure. The call for investigation therefore has no bearing on the operations or financial activities of the ministry under the current administration.

“The Office of the Honourable Minister reaffirms its commitment to transparency and accountability and will cooperate fully with any legitimate process aimed at addressing legacy issues in the power sector, while remaining focused on its mandate of delivering stable and reliable electricity to all Nigerians,” he added.