Close Menu

    Subscribe to Updates

    Get the latest news as they happen

    What's Hot

    Don Jazzy Opens 2027 Tech Scholarship for Interested Nigerians

    October 28, 2026

    Recruitment: Stanbic IBTC Bank Opens Applications For 2026 Job Vacancy

    October 28, 2026

    GTBank Customers To Link Debit Cards To Google Wallet For Secure Online Payments

    October 28, 2026
    Facebook X (Twitter) Instagram
    Megastar Magazine
    • Politics

      2027 Elections: NEDO To Deploy 4,000 Observers 

      October 27, 2026

      Ahead 2027, Rise Networks, INEC, Meta, Google, Microsoft Set Up ₦10m AI Election Hackathon

      October 27, 2026

      Hamzat Set To Present His 2027 Lagos Governorship Manifesto On Friday

      October 26, 2026

      Governor Dauda Lawal Signs Peace Accord Ahead of 2027 Elections, Reaffirms Commitment to Peaceful Poll

      October 20, 2026

      Ahead of 2027 Elections, INEC Forms C’ttee to Audit Warehouses, Airports, Seaports for Logistics

      October 15, 2026
    • Entertainment
      1. People
      2. Events
      3. Fashion
      Featured
      Entertainment October 27, 2026

      AY Comedian Tenders Apology For What Unfolded During UK Show

      Recent

      AY Comedian Tenders Apology For What Unfolded During UK Show

      October 27, 2026

      Quickteller Declares the Return of InsomniaQ Music Marathon

      October 26, 2026

      Nollywood Emeka Ike Will Play Host To National Automation Prize NAP 2026

      October 26, 2026
    • Business

      Investors Ask CBN To Refund N100.35m Licence Payment

      October 28, 2026

      FG Presents Free Digital Procurement Training for MSMEs

      October 27, 2026

      Climate Risks Key To Business Resilience, Says UBA GMD

      October 27, 2026

      Ecobank Advances Youth Innovation as Top 20 InnovateX Finalists Emerge for ₦20 Million Prize Pool

      October 26, 2026

      Fidelity Bank Purposes Growth for SMEs at Abuja Business Forum

      October 26, 2026
    • Health

      NOA Cautions Against Self-medication For Ebola

      October 22, 2026

      FG Moves To Contain Spread Of Ebola, Partners Uganda For Traces

      October 22, 2026

      WHO Presents New Guidance For Heat-related Illness At Mass Gatherings

      October 1, 2026

      ZAMFARA RELEASE OF FIRST BATCH OF SUCCESSFUL APPLICANTS NURSES & MIDWIVES RECRUITMENT

      September 17, 2026

      Pastor Adeboye Of RCCG Donates Three Dialysis Machines To UBTH

      September 3, 2026
    • Culture

      GLO Sponsorship Commits To 2026 Ofala Festival As It Kicks Off

      October 8, 2026

      FG Plans To Launch African Global Festival In October, Strengthens Culture, Economy

      September 25, 2026

      Awujale Stool: Ruling House Commits Trust In Leaders, Disapproves Removal

      August 13, 2026

      Osun-Osogbo 2026: Nigeria-Africa Celebrates Yoruba Historic Heritage

      August 7, 2026

      FCMB Reiterates Commitment for Ojude Oba as Key Driver of Heritage

      June 7, 2026
    • Lifestyle

      Gov Sanwo-Olu Presents Wife With Flowers And Kiss

      October 27, 2026

      Pastor Adeboye’s Granddaughter and Partner Wed in US

      October 25, 2026

      Pa Fasoranti’s Family Declares December 17 For Late Leader’s Burial

      October 23, 2026

      Tinubu Congratulates Shettima on 60th Birthday, Calls him Patriot, Trusted Ally. 

      September 2, 2026

      Gov Dauda Lawal @ 61: A Functionalist In Power

      September 2, 2026
    • Sports

      Osimhen Scores Twice, Leads Galatasaray To 2-1 Victory Over Fenerbahce 

      October 28, 2026

      Harry Kane Announced As 2026 Ballon d’Or Winner

      October 27, 2026

      Abuja Half Marathon In Nov Will Reward Winner With $8,000

      October 26, 2026

      U-17 Women’s World Cup Round Of 16 Will Be Between Flamingos, Mexico On Thursday

      October 26, 2026

      Appearance Record Of Iwobi Calls For NFF Praise After Matching Salah’s Premier League Record

      October 26, 2026
    • Contact
    YouTube Facebook Instagram WhatsApp
    Megastar Magazine
    Home » Federal High Court Suit Challenges Power Minister and NBET Over Unaccounted ₦128 Billion
    News

    Federal High Court Suit Challenges Power Minister and NBET Over Unaccounted ₦128 Billion

    Ifetayo AdeniyiBy Ifetayo AdeniyiJanuary 25, 20262 Mins Read
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email Telegram
    Share
    Facebook Twitter WhatsApp Telegram Email

    Manny Ita

    The Socio-Economic Rights and Accountability Project (SERAP) has initiated a legal battle against the Minister of Power, Adebayo Adelabu, and the Nigerian Bulk Electricity Trading (NBET) Plc, filing suit FHC/ABJ/CS/143/2026 at the Federal High Court in Abuja. The lawsuit, filed on Friday, January 23, 2026, seeks an order of mandamus to compel the defendants to account for ₦128 billion in public funds allegedly missing or diverted, as documented in the Auditor-General of the Federation’s 2022 annual report published in September 2025. According to the court filings, the missing funds include ₦4.4 billion transferred to project accounts for the Mambilla, Zungeru, and Kashimbilla power plants without evidence of expenditure, and ₦95.4 billion paid to various contractors for projects that reportedly lack documentation or proof of execution.

    ​The litigation further highlights a series of administrative irregularities, including ₦8 billion paid by NBET to beneficiaries without entry into payment vouchers, ₦282 million in non-personal advances to staff that exceeded statutory limits, and over ₦33 million spent on foreign travels without requisite approvals. SERAP is demanding the disclosure of the full names and designations of all public officers who authorized these releases, as well as the business names of the contractors involved. In its argument, the organization linked these financial discrepancies to the systemic failures in the national electricity grid, stating, “Nigerians continue to pay the price for the widespread and grand corruption in the power sector. There is a legitimate public interest in ensuring justice and accountability for these grave allegations.”

    ​While the Ministry of Power has acknowledged the audit’s findings, Minister Adelabu previously clarified that the allegations refer to the 2022 financial year, which predates his August 2023 appointment. Despite this, SERAP maintains that the current leadership is legally bound to provide transparency and ensure the recovery of any misapplied funds. The group argues that the legal action is necessary to address the persistent breakdown of transmission lines and improve overall access to electricity. SERAP emphasized the urgency of the matter by noting that “granting the reliefs sought would contribute to tackling corruption in the power sector and addressing the persistent breakdown of transmission lines in the country.”

    News
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Previous ArticleShell Plc Commits $20 Billion Investment to Nigeria Following Strategic Talks with President Tinubu
    Next Article National Grid Stabilizes as Power Generation Hits 4,000MW Following First Collapse of 2026
    Ifetayo Adeniyi
    • Website

    Adeniyi Ifetayo Moses is an Entrepreneur, Award winning Celebrity journalist, Luxury and Lifestyle Reporter with Ben tv London and Publisher, Megastar Magazine. He has carved a niche for himself with over 15 years of experience in celebrity Journalism and Media PR.

    Related Posts

    News October 28, 2026

    We’ll Mass Produce Military Munitions Locally Within One Year ~  Defence Minister Says

    News October 28, 2026

    N70,000 Monthly Transport Support for Workers for Six Months ~ FG

    News October 27, 2026

    Lagos Assembly Approves State Police Formation, Prefers Full Autonomy for State’s Operation

    Literature & Arts October 27, 2026

    Remembering And Recognizing Soyinka’s Four Decades Of Nobel Prize

    News October 27, 2026

    Before 2027 Ends, Nigeria Targets Single-digit Inflation 

    News October 27, 2026

    UN-Habitat And Mexico City Unveil Dates For World Urban Forum 14

    Leave A Reply Cancel Reply

    Don't Miss
    Tech October 28, 2026

    Don Jazzy Opens 2027 Tech Scholarship for Interested Nigerians

    … interested Nigerians will learn technology-related skills, including artificial intelligence (AI), data analytics, virtual assistance…

    Recruitment: Stanbic IBTC Bank Opens Applications For 2026 Job Vacancy

    October 28, 2026

    GTBank Customers To Link Debit Cards To Google Wallet For Secure Online Payments

    October 28, 2026

    MTN MoMo Leads Africa’s Fintech Reputation Ranking 2026

    October 28, 2026

    Subscribe to Updates

    Get the latest news as they happen

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    Our Picks

    A Better Society Is Possible

    December 2, 2021

    Edo speaker invested into knighthood of St Christopher

    October 31, 2021

    [Watch] Thanksgiving Ceremony – 30 years of Lee Engineering Construction & Company Limited

    December 17, 2021
    New Comments
    • Anozie okolo on Supreme Court Affirms President Tinubu’s Victory As Atiku, Peter Obi Lose
    • Mc richman on Nigeria and South African Music histories
    • Moses Ibrahim on Olu of Warri: Pictorial @ The Ogiame Atuwatse III Economic Summit.
    • Sen Rich Kay on MALARIA ERADICATION: Prince Ned Nwoko & NMEP Meet for joint action.
    Megastar Magazine
    YouTube Facebook WhatsApp Instagram
    • Privacy Policy
    • Terms of Use
    • Contact Us
    © 2026 Megastar Magazine. Designed by MANNDI

    Type above and press Enter to search. Press Esc to cancel.