SERAP Gives INEC Seven Days to Account for N126.46bn Electoral Funds

The Socio-Economic Rights and Accountability Project (SERAP) has given the Independent National Electoral Commission (INEC) seven days to explain the whereabouts and use of more than N126.46 billion in electoral funds allegedly lost, diverted, irregularly paid or otherwise unaccounted for.

In a strongly worded letter dated September 12, 2026, and signed by its Deputy Director, Kolawole Oluwadare, SERAP demanded that INEC account for the billions earmarked for ballot boxes, electoral devices and materials, sensitive materials, vehicles, accreditation equipment, consultancy, auditing, digital archiving and other election-related services.

SERAP said the allegations are contained in the 2023 audited report of the Auditor-General of the Federation, published on August 7, 2026. The audit findings cover transactions from 2022 and, in some instances, extend into 2023.

At the centre of the controversy is N112.15 billion allegedly paid for ballot boxes, electoral devices and other electoral materials.

According to SERAP, the Auditor-General found that the payments were made without competitive bidding and without a Bureau of Public Procurement (BPP) Certificate of No Objection. The audit report, SERAP said, also found no evidence that the materials were actually procured and raised questions about the competence, experience, addresses and factory locations of some of the companies awarded the contracts.

The Auditor-General reportedly warned that the money may have been diverted and recommended its recovery.

SERAP is demanding that INEC produce documentary and physical evidence showing exactly what was purchased, who received the money, how the contracts were awarded, where the materials are located and their current condition and use.

But the N112.15 billion is only part of the financial concerns highlighted by the organisation.

SERAP also cited an alleged N1.05 billion payment for Toyota Prado TXL 2021 vehicles, which it said was made without advertisement, competitive bidding, bid evaluation or a BPP Certificate of No Objection. The Auditor-General reportedly raised concerns that the money may have been lost and that the contracts may have been inflated.

Another transaction involved more than N3.13 billion 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 and remittance of the funds to the treasury.

The organisation further pointed to N9.24 billion allegedly spent across 22 contracts, with concerns that contracts were split to circumvent procurement rules and awarded on the same day. According to SERAP, the Auditor-General warned that the money may have been lost and that payments may have been made for materials that were never supplied.

Other transactions flagged include N129.37 million paid to 19 accounting firms for financial audit services without evidence of utilisation or requests for the consultants' expenditure; N504.49 million for accreditation devices allegedly procured without following due procedures; and N235.1 million paid for sleeping mats and digital archiving amid questions about the eligibility and capacity of some contractors.

SERAP wants INEC and its Chairman, Professor Joash Amupitan, to disclose the beneficiaries, contracts, procurement processes, contractors and suppliers involved, as well as evidence that the goods and services were delivered and properly utilised.

It is also demanding that INEC refer any financial misconduct 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 appropriate.

SERAP further wants officials, contractors, companies, suppliers and consultants involved in the transactions identified, with any unlawfully or irregularly paid funds recovered.

“Electoral resources are public resources. INEC must be able to account for every naira, demonstrate that it was lawfully spent and show that it served the purposes for which it was appropriated,” SERAP said.

The organisation has also warned INEC against disposing of, transferring, destroying, writing off or otherwise dealing with any electoral equipment or public assets covered by the audit findings in a manner that could frustrate accountability or recovery.

SERAP said any investigation must determine whether the contracted goods and services were actually delivered, whether payments matched what was supplied and whether contracts were deliberately split to evade procurement requirements.

The group said its demands are grounded in constitutional, anti-corruption and international obligations requiring transparency and accountability in the management of public resources.

It specifically cited Section 15(5) of the Nigerian Constitution, which requires public institutions to abolish corrupt practices and abuse of power, as well as Nigeria's obligations under the United Nations Convention against Corruption, the International Covenant on Civil and Political Rights and the African Charter on Human and Peoples’ Rights.

The clock is now ticking.

SERAP has given INEC seven days from receipt or publication of its letter to respond and take the requested steps.

Failure to do so, it warned, could trigger legal action to compel INEC to account for the funds in the public interest.