ABUJA—The Socio-Economic Rights and Accountability Project (SERAP) has formally called on President Bola Tinubu to institute an immediate investigation into the alleged mismanagement of ₦78.8 billion in cash transfer funds. The demand follows a recent audit query by the Auditor-General of the Federation, which highlighted significant irregularities in the disbursement of funds meant for vulnerable Nigerians.
In a statement issued over the weekend, SERAP cited the Auditor-General's report, which reportedly uncovered instances of unaccounted spending and potential breaches of financial regulations in the handling of the social investment funds. The organization emphasized that the scale of the unaccounted expenditure represents a "gross violation" of the nation's fiscal transparency laws and undermines efforts to combat poverty.
SERAP is urging President Tinubu to direct anti-corruption agencies to scrutinize the transactions, identify those responsible for the infractions, and ensure the recovery of any misappropriated funds. The group insists that the public deserves full disclosure regarding the management of the welfare scheme, warning that leaving the queries unresolved could set a dangerous precedent for future public spending.
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