Minister of power, Adebayo Adelabu
Minister of Power, Adebayo Adelabu, has distanced himself from allegations surrounding an alleged missing ₦128 billion, insisting that the issues raised occurred before his appointment into office.
Adelabu’s response followed a call by the Socio-Economic Rights and Accountability Project (SERAP), through its Deputy Director, Kolawole Oluwadare, urging President Bola Tinubu to instruct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi (SAN), as well as relevant anti-corruption agencies, to investigate claims that over ₦128 billion in public funds were missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).
In a statement issued by his Media Aide, Bolaji Tunji, the Minister clarified that the audit report referenced by SERAP relates exclusively to the 2022 financial year—well before the current administration came into office and prior to his appointment as Minister.
The statement read:
“Our attention has been drawn to the call by the Socio-Economic Rights and Accountability Project (SERAP) urging President Bola Ahmed Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to investigate allegations that over ₦128 billion of public funds are missing or diverted from the Ministry of Power and the Nigerian Bulk Electricity Trading Plc.
“While the Honourable Minister of Power, Chief Adebayo Adelabu, has no objection to calls for investigation, it is important to clearly state that he was appointed in August 2023, whereas the audit report in question relates to the 2022 financial year.
“Consequently, the issues raised in the referenced audit report pertain entirely to a period before the Minister’s tenure. The call for investigation, therefore, has no bearing on the operations or financial activities of the Ministry under the current administration.
“The Office of the Honourable Minister reaffirms its commitment to transparency and accountability and will cooperate fully with any legitimate process aimed at addressing legacy issues in the power sector, while remaining focused on its mandate of delivering stable and reliable electricity to all Nigerians.”
The statement further underscored that Adelabu is widely known for his commitment to due process, probity, transparency and accountability, a reputation built across his previous engagements in both the public and private sectors, and one he remains determined to uphold while in office.
