Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to direct the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, and the Accountant-General of the Federation, Oluwatoyin Sakirat Madein, to disclose the names of companies and contractors that collected over N167 billion from 31 Ministries, Departments and Agencies (MDAs) but failed to execute any project.
The failure of the contractors to execute the contracts is documented in the recently released 2021 audited report by the Office of the Auditor General of the Federation.
SERAP is also seeking the details of the projects for which the contractors collected N167 billion, the proposed locations, the number of contractors involved and the amount collected by each contractor.
SERAP demanded that the details to be published should include the names of shareholders and others who might have any ownership interests in the companies that collected over N167 billion without executing any projects.
The organisation urged the President to direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN), and anti-corruption agencies to bring to justice the errant companies and contractors.
SERAP also urged him to name and shame the companies and contractors and to ensure the recovery of the over N167 billion reportedly collected by them for projects not executed. The recovered money should be fully remitted to the treasury.
In the letter at the weekend, signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said publishing the names would make it hard for companies and contractors to get away with corruption.
“It is important to show that your government would not shield or allow ingrained wrongdoing by companies and contractors to go unpunished.
“Unless the names of the companies and contractors are disclosed and widely published, alleged corrupt companies and contractors executing public projects will not be deterred and the victims of corruption that they allegedly committed will continue to be denied access to justice and effective remedies.
“The allegations of corruption involving many companies and contractors, who collected over N167 billion from 31 MDAs, have continued to impair, obstruct and undermine access of poor Nigerians to public goods and services,” SERAP said.
The body lamented that the 2021 yearly audited report by the Auditor General of the Federation published on November 13, 2024, revealed that 31 MDAs paid over N167 billion to companies and contractors for contracts and projects not executed.
“Companies and contractors reportedly collected N100 billion from the Nigerian Bulk Electricity Trading Plc. (NBET) for contracts and projects not executed,” SERAP lamented.
The 30 other MDAs, including Nigerian Correctional Service; National Pension Commission, Abuja; Federal College of Land Resources Technology, Owerri; and Hydrocarbon Pollution Remediation Project (HYPREP) Office.
Others include the Petroleum Technology Development Fund (PTDF); Federal Ministry of Youth and Sports Development; Federal Medical Centre, Bida, Niger state; the National Centre for Women Development; the Institute for Peace and Conflict Resolution; National Business and Technical Examinations Board (NABTEB); Federal University of Gasua; and Ministry of Niger Delta Affairs.
