SERAP Demands Answers Over ₦78.8bn Cash Transfer Funds Flagged in Audit Report

The Socio-Economic Rights and Accountability Project, SERAP, has called on President Bola Tinubu to order an investigation into more than ₦78.8 billion in public funds linked to Nigeria’s cash-transfer and social protection programmes.

The organisation's demand follows findings contained in the 2024 Annual Report of the Auditor-General of the Federation, which raised questions about payments, documentation, internal controls and the verification of beneficiaries.

SERAP wants the Federal Government to explain how the funds were spent and to ensure that any money found to have been improperly spent or lost is recovered.

At the centre of the concerns is ₦33.751 billion reportedly transferred in 2023 to 3,295,207 households and beneficiaries across 35 states.

According to the Auditor-General's findings cited by SERAP, the National Cash Transfer Office, NCTO, did not provide sufficient records to confirm that the beneficiaries actually received the money.

Auditors also reportedly did not receive the relevant REMITA statements needed to reconcile the payments with the National Social Register and National Beneficiary Register.

The lack of documentation made it difficult for auditors to establish whether the payments reached genuine and eligible beneficiaries.

SERAP is therefore asking the government to publish the complete audit trail for the ₦33.751 billion, including beneficiary information, payment records, verification details, authorisations and reconciliation records.

The organisation has also raised concerns about another ₦36.744 billion in payments reportedly made without prepayment or internal audit checks.

Other expenditures highlighted include ₦4.616 billion reportedly spent without adequate supporting documents, ₦350.182 million linked to enrolment payments, ₦89.511 million spent on store items that auditors reportedly could not verify, and ₦17.422 million advanced to staff for diesel purchases.

SERAP has also questioned payments involving the National Social Safety Nets Coordinating Office, NASSCO.

According to the organisation, the Auditor-General's report identified additional questionable expenditures at NASSCO, including payments made without the required prepayment audit and other transactions where supporting documentation or evidence of delivery was reportedly unavailable.

SERAP says the issues point to weaknesses in the systems designed to protect public funds meant for vulnerable Nigerians.

The organisation is asking President Tinubu to direct the relevant ministries and agencies to provide full explanations and make the necessary records available.

It also wants anti-corruption agencies to investigate the expenditures identified in the audit report and determine whether public funds were improperly spent or diverted.

SERAP has called for any funds found to have been improperly spent to be recovered and returned to government coffers.

The organisation also wants the government to verify beneficiaries against the National Social Register and National Beneficiary Register.

According to SERAP, this process should help identify duplicate, fictitious, deceased, ineligible or otherwise irregular beneficiaries.

The group is also calling for greater transparency around the cash-transfer programme, including information on the number of beneficiaries in each state, amounts disbursed, payment dates, failed or reversed transactions and money returned to the Treasury.

However, SERAP says transparency measures should protect the personal information and privacy of vulnerable Nigerians.

Why This Matters

Nigeria's cash-transfer programme is designed to provide financial assistance to poor and vulnerable households.

That makes accountability particularly important.

When billions of naira are allocated for social protection, Nigerians need confidence that the money reaches the people it was intended to help.

The Auditor-General's findings do not by themselves establish that the entire ₦78.8 billion was stolen.

Rather, they identify transactions and financial-control issues that require explanations, documentation, verification and, where necessary, further investigation.

That distinction is important.

SERAP is now asking the government to provide those answers and take action where wrongdoing is established.

The organisation has given the Federal Government seven days to respond to its demands and has warned that it may pursue legal action if the issues are not addressed.

For millions of Nigerians who depend on social intervention programmes, the bigger issue is straightforward: money allocated to support vulnerable families must be properly accounted for and delivered to the people who qualify.

The coming days could therefore determine whether the government provides the documentation requested by SERAP and whether the audit findings lead to further investigations.

Key Facts

SERAP is demanding an investigation into more than ₦78.8 billion in questioned public funds.

₦33.751 billion was reportedly transferred to 3,295,207 households and beneficiaries in 35 states in 2023.

Auditors said they could not obtain sufficient documentation to verify the payments.

₦36.744 billion in payments was reportedly made without prepayment or internal audit checks.

₦4.616 billion in expenditures was reportedly unsupported by adequate documentation.

SERAP wants relevant agencies to account for the funds and recover any money found to have been improperly spent.

The organisation has given the Federal Government seven days to respond.

Important clarification: The ₦78.8 billion figure represents funds and expenditures that SERAP says were flagged as questionable, unaccounted for or irregular in the audit findings. It should not be presented as proof that ₦78.8 billion was stolen.