The Minister of Power, Adebayo Adelabu, has distanced himself from allegations of missing ₦128 billion in public funds, insisting that the financial discrepancies highlighted by the Socio-Economic Rights and Accountability Project (SERAP) occurred before he assumed office.
The clarification follows a recent call by SERAP’s Deputy Director, Kolawole Oluwadare, who urged President Bola Tinubu to mandate the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), as well as anti-graft agencies, to investigate claims that over ₦128 billion was either missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).
In a statement released on Tuesday by his media aide, Bolaji Tunji, Adelabu said the audit report cited by SERAP covered the 2022 financial year, a period that predates both the current administration and his appointment as minister in August 2023.
According to the ministry, while Adelabu has no objection to any legitimate probe into the matter, it is misleading to link the alleged irregularities to his tenure, as the transactions in question were carried out before he took charge of the ministry.
“The issues raised in the audit report relate entirely to activities that occurred prior to the appointment of the Honourable Minister,” the statement said, adding that the present leadership of the ministry should not be held responsible for actions outside its period of stewardship.
The ministry further assured the public of its readiness to cooperate with any lawful investigation aimed at resolving legacy financial issues in the power sector, while reiterating its commitment to transparency, accountability and due process.
It also highlighted Adelabu’s record of probity in both public and private sector engagements, stressing that the minister remains determined to protect his reputation and concentrate on delivering stable and reliable electricity supply to Nigerians.
