The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Managing Director of the Nigerian Bulk Electricity Trading Plc (NBET), Ademola Adelabu, along with the agency itself, over an alleged failure to account for N128 billion in public funds.
According to SERAP, multiple requests for detailed disclosure on the disbursement and utilisation of the funds went unanswered, prompting the civil society group to seek legal recourse. The organisation argued that the non-compliance undermines public accountability and violates provisions of the Freedom of Information Act.
In the suit lodged at the Federal High Court, SERAP asked the court to compel NBET and its management to provide a comprehensive account of the N128 billion, including records of expenditures, current balances, and explanations for fund allocations. The organisation also urged the court to enforce safeguards to prevent further mismanagement of public resources.
SERAP’s action highlights ongoing concerns about transparency in Nigeria’s power sector, where billions of naira allocated for electricity generation and distribution have frequently faced scrutiny from oversight bodies and civil society.
Legal experts note that the outcome of the case could set an important precedent for enforcing accountability in state-owned enterprises and ensuring that public funds are properly monitored and reported.
NBET has not yet issued an official response to the lawsuit. Observers say the case could have wider implications for public finance management and the enforcement of transparency laws across other government agencies.
