*Says funds were for electoral operations but allegedly diverted, lost, mismanaged or unaccounted for
By Augustine Ehikioya
The Socio-Economic Rights and Accountability Project (SERAP) has given the Independent National Electoral Commission (INEC) seven days to account for more than N126.46 billion in electoral funds allegedly mismanaged, diverted, lost or otherwise unaccounted for.
SERAP made the demand in a letter dated September 12, 2026, signed by its Deputy Director, Kolawole Oluwadare.
The organisation said the funds were meant for the procurement of ballot boxes, electoral devices and materials, sensitive materials and result sheets, vehicles, accreditation equipment, audit and consultancy services, digital archiving and other election-related goods and services.
According to SERAP, the allegations were contained in the 2023 audited report of the Auditor-General of the Federation, published on August 7, 2026. The audit findings covered transactions carried out between January and December 2022, with some extending to December 31, 2023.
SERAP urged INEC and its Chairman, Professor Joash Amupitan, to disclose details of the transactions, including amounts paid, beneficiaries, contracts, procurement processes, contractors and suppliers. It also demanded evidence of the delivery, utilisation and current status of the goods and services procured.
A major transaction cited by SERAP involved N112.15 billion allegedly paid for ballot boxes, electoral devices and other materials without competitive bidding or a Bureau of Public Procurement (BPP) Certificate of No Objection.
The organisation said the Auditor-General found no evidence that the items had been procured and raised questions about companies awarded the contracts, whose competence, experience, capacity, addresses and factory locations were allegedly unknown. The audit report reportedly recommended recovery of the funds.
SERAP also cited N1.05 billion allegedly spent on Toyota Prado TXL 2021 vehicles without advertisement, competitive bidding, bid evaluation or the required BPP certificate. The Auditor-General reportedly raised concerns that the funds might have been lost and that the contracts could have been inflated.
Another N3.13 billion was allegedly paid to four contractors for ballot guides, sensitive materials and result sheets before the contracts were awarded. SERAP said the audit report found no evidence supporting the payments and recommended recovery of the funds.
The organisation further alleged that N9.24 billion was paid under 22 contracts for similar goods and services, with the contracts reportedly split to circumvent procurement procedures and awarded on the same day.
Other transactions highlighted included N129.37 million paid to 19 accounting firms for financial audit services without adequate evidence of utilisation; N504.49 million for accreditation devices allegedly without proper procurement procedures; and N235.1 million for sleeping mats and digital archiving.
SERAP called on INEC to refer the financial irregularities identified 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, prosecution and recovery where necessary.
It also urged the electoral commission to identify officials, contractors, suppliers, companies and consultants connected to the transactions and recover any money found to have been unlawfully or irregularly paid.
The organisation said INEC should establish whether the contracted goods and services were actually delivered, whether payments reflected what was supplied and whether contracts were deliberately split to evade procurement rules.
SERAP further asked INEC to preserve all electoral equipment and other public assets covered by the audit findings pending reconciliation and investigation, warning against their disposal, transfer, destruction or write-off.
The organisation said Nigerians had a right to know how public funds appropriated for elections were spent, stressing that INEC must demonstrate that every naira was lawfully applied for its intended purpose.
It also argued that INEC’s accountability obligations were supported by the Nigerian Constitution, anti-corruption laws and Nigeria’s commitments under international instruments, including the United Nations Convention against Corruption.
SERAP gave the commission seven days from the receipt or publication of its letter to respond and implement the requested measures, warning that it would institute legal proceedings if INEC failed to comply.
The organisation said any investigation should cover both private beneficiaries and public officials who authorised, processed, facilitated or benefited from the transactions.
