SERAP Gives INEC 7 Days to Account for ₦126.46 Billion Electoral Funds

The Socio-Economic Rights and Accountability Project, SERAP, has given the Independent National Electoral Commission, INEC, seven days to account for more than ₦126.46 billion in public funds allegedly lost, diverted, mismanaged or otherwise unaccounted for.

SERAP made the demand in a statement issued on Saturday, September 12, 2026, by its Deputy Director, Kolawole Oluwadare, and made available to PUNCH Online on Sunday.

The organisation said the funds relate to electoral operations, including the procurement of ballot boxes, electoral devices and materials, sensitive materials, result sheets and other goods and services required for elections.

SERAP said its demand was based on findings contained in the Auditor-General of the Federation’s 2023 audited report, published on August 7, 2026, covering transactions between January and December 2022 and, in some instances, extending to December 31, 2023.

The organisation asked INEC to provide details of the affected transactions, including amounts paid, beneficiaries, contracts, procurement processes, contractors and suppliers, as well as evidence showing that the goods and services were delivered and properly utilised.

SERAP also urged INEC Chairman, Professor Joash Amupitan, and the commission to refer the alleged financial irregularities documented by the Auditor-General to the Economic and Financial Crimes Commission, EFCC, and the Independent Corrupt Practices and Other Related Offences Commission, ICPC, for investigation and possible recovery.

Among the issues cited by SERAP was an alleged payment of more than ₦112.15 billion for ballot boxes, electoral devices, items and materials without competitive bidding or a Certificate of No Objection from the Bureau of Public Procurement.

According to SERAP’s account of the Auditor-General’s findings, there was reportedly no evidence that some of the items were procured, while the companies awarded the contracts allegedly had unknown competencies, experience, capacities, addresses and factory locations.

SERAP also cited an alleged payment of more than ₦1.05 billion for Toyota Prado TXL 2021 models without advertisement, competitive bidding, bid evaluation or a BPP Certificate of No Objection.

The organisation further referenced an alleged payment of more than ₦3.13 billion to four contractors for ballot guides, sensitive materials and result sheets before the contracts were awarded, as well as another ₦9.24 billion allegedly paid for 22 contracts involving similar goods and services.

According to SERAP, the Auditor-General raised concerns that some contracts may have been split to circumvent procurement procedures and that payments may have been made for items that were not supplied.

The organisation also cited an alleged ₦129.37 million payment to 19 accounting firms for financial audit services without evidence of utilisation, requests or expenditure by the consultants.

SERAP called on INEC to identify any public officials, contractors, companies, suppliers and consultants responsible for the transactions and take steps to recover any funds found to have been unlawfully or irregularly paid.

The group further urged INEC to ensure that electoral equipment, materials and other public assets covered by the Auditor-General’s findings are not disposed of, transferred, destroyed or written off in a way that could frustrate accountability or recovery.

SERAP said any investigation by the EFCC or ICPC should examine whether the contracted goods and services were actually supplied, whether payments corresponded with items delivered and whether contracts were deliberately split to avoid procurement requirements.

The organisation argued that electoral funds are public resources and that INEC should be able to demonstrate that every naira appropriated to it was lawfully spent and used for its intended purpose.

SERAP warned that if INEC does not respond within seven days of receiving or being notified of the request, it may take legal action to compel the commission to comply.

The organisation said the allegations were particularly concerning because of INEC’s constitutional responsibility for administering Nigeria’s electoral system and called for transparency, accountability and the recovery of any public funds established to have been improperly spent.