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Court permits SERAP to continue case on probe of missing $15bn oil revenue, N200bn for refineries repair



The Socio-Economic Rights and Accountability Project (SERAP) has secured the permission of the Federal High Court to continue its lawsuit seeking to compel President Bola Tinubu to probe alleged missing US$15 billion oil revenues and N200 billion budgeted to repair the refineries between 2020 and 2021.

SERAP made this known on Friday night via its verified X page.

It said: “BREAKING: The Federal High Court has granted us the permission to pursue our suit seeking to compel President Tinubu to probe the allegations that US$15 billion oil revenues and N200 billion budgeted to repair the refineries between 2020 and 2021 are missing.”

Ripples Nigeria recalls that SERAP had earlier asked the President to “set up a presidential panel of enquiry to promptly probe the grim allegations that over US$15 billion of oil revenues, and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI).”

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It also urged him to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as the full recovery of any proceeds of crime.”

SERAP further urged him “to fully implement all the recommendations by NEITI in its 2021 report, and to use any recovered proceeds of crime.”

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