By Seun Ibiyemi
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Ahmed Tinubu to order an immediate investigation into more than ₦78.8 billion in public funds linked to Nigeria’s national cash-transfer programme and other social protection activities.
SERAP made the demand in a letter dated September 5, 2026, signed by its Deputy Director, Kolawole Oluwadare, following financial concerns raised in the 2024 Annual Report of the Auditor-General of the Federation.
The Auditor-General’s report, published on August 7, 2026, examined transactions covering various periods between January and December 2023 and ending on December 31, 2024.
SERAP urged the President to direct the Ministry of Humanitarian Affairs and Poverty Reduction, the National Cash Transfer Office (NCTO) and the National Social Safety Nets Coordinating Office (NASSCO) to account for funds the audit reportedly identified as unaccounted for, unsupported or irregularly spent.
A major concern raised by SERAP was the ₦33.751 billion reportedly disbursed by NCTO in 2023 to 3,295,207 households and beneficiaries across 35 states.
According to the organisation, the Auditor-General found no adequate evidence confirming that the beneficiaries actually received the payments.
SERAP said NCTO also failed to provide REMITA statements capable of authenticating the transactions and establishing whether the beneficiaries were genuine and eligible.
The organisation therefore demanded the publication of complete records and audit trails for the ₦33.751 billion, including beneficiary information, payment records, verification procedures, authorisations and reconciliation details.
It said the findings raised serious questions about the effectiveness of controls over funds meant for poor and vulnerable Nigerians.
SERAP said the absence of basic payment records and beneficiary information created a risk that funds intended for vulnerable citizens could have been lost, misapplied or paid to ineligible persons.
The organisation also highlighted ₦36.744 billion in payments reportedly made in December 2023 without prepayment or internal audit checks.
Other expenditures cited included ₦4.616 billion reportedly spent without adequate supporting documentation, ₦350.182 million released to state coordinators for the enrolment of unbanked beneficiaries, ₦89.511 million spent on store items reportedly not delivered and ₦17.422 million advanced to staff for diesel purchases.
On the ₦4.616 billion expenditure, SERAP said the Auditor-General expressed concern that the money “may have been diverted.”
The organisation also cited ₦280.42 million reportedly paid as mobilisation and advance payments to payment service providers without an Advance Payment Guarantee.
It further questioned ₦393.71 million in unutilised funds disbursed to nine states for beneficiary enrolment activities, saying the Auditor-General found no evidence that the money, despite claims that it had been returned, was credited to the Consolidated Revenue Fund.
SERAP also drew attention to audit findings involving NASSCO, including ₦2.24 billion reportedly paid through 158 vouchers without prepayment audit.
Other questioned transactions included ₦44.55 million for laptops reportedly not delivered or entered in the store ledger, ₦19.76 million for advertisements without evidence of publication and ₦141.01 million paid to two contractors for software without NITDA clearance.
SERAP said the findings revealed broader weaknesses in the management of public resources, including missing procurement records, payments for unverifiable goods and services, inadequate beneficiary documentation and weak financial controls.
The organisation wants anti-corruption agencies to investigate ₦76.24 billion in questionable and unaccounted-for expenditures at NCTO and ₦2.55 billion at NASSCO.
It also called for the recovery and remittance of any funds found to have been improperly spent, diverted or lost.
READ ALSO: Plastic waste, water hyacinth can generate wealth – Parts Central MD
The group urged the government to establish an independent system for verifying beneficiaries against the National Social Register and National Beneficiary Register.
According to SERAP, the process should identify duplicate, fictitious, deceased, ineligible or otherwise irregular beneficiaries.
It also called for an effective complaints mechanism for individuals listed as beneficiaries who did not receive payments, as well as people whose identities or bank accounts may have been used without their knowledge.
On transparency, SERAP demanded the publication of state-by-state beneficiary numbers, amounts disbursed, payment dates, failed and reversed transactions, funds returned to the Treasury, and administrative and transaction costs.
It also called for a comprehensive and regularly updated beneficiary register, subject to safeguards protecting the personal data and privacy of vulnerable citizens.
SERAP gave the Federal Government seven days from the receipt or publication of its letter to respond to its demands.
The organisation warned that failure to respond within the period could lead it to pursue legal action and other measures, including proceedings before the ECOWAS Court and the World Bank Accountability Mechanism’s Inspection Panel.
SERAP said accountability was essential to protecting the credibility of Nigeria’s social intervention programmes and ensuring that funds allocated to vulnerable Nigerians reach the intended beneficiaries.
