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 ₦126.46 billion in public funds allegedly diverted, lost, mismanaged or otherwise unaccounted for in connection with electoral operations.
SERAP made the demand in a letter dated September 12, 2026, signed by its Deputy Director, Kolawole Oluwadare, following findings contained in the 2023 audited report of the Auditor-General of the Federation. The report was published on August 7, 2026.
The accountability group said the funds were appropriated for various electoral activities and procurement, including ballot boxes, electoral devices and materials, sensitive materials and result sheets, vehicles, accreditation equipment, audit and consultancy services, digital archiving and other goods and services required for elections.
SERAP said INEC should provide a detailed explanation of how the money was spent, identify the beneficiaries of payments and disclose the contracts, procurement processes, contractors and suppliers involved.
The organisation also wants evidence showing that the goods and services were actually delivered and properly used.
SERAP Wants Full Details of ₦126.46bn
According to SERAP, the Auditor-General's findings cover public expenditure associated with electoral operations, with the audited report examining transactions from January to December 2022 and, in some cases, extending to December 31, 2023.
SERAP is demanding that INEC account for the more than ₦126 billion by providing details including:
• Amounts paid under the affected expenditure;
• Beneficiaries of the payments;
• Contracts and procurement processes;
• Contractors, suppliers and consultants involved;
• Evidence of delivery of goods and services;
• How electoral assets were utilised; and
• The current status of the goods, services and assets concerned.
The organisation said the demand is necessary because the money involved is public money allocated for electoral purposes.
“Electoral resources are public resources,” SERAP said, stressing that INEC should be able to account for every naira and demonstrate that the funds were spent lawfully and for the purposes for which they were appropriated.
SERAP Calls for EFCC and ICPC Investigations
Beyond demanding explanations from INEC, SERAP wants the commission to refer the alleged financial irregularities identified by the Auditor-General to Nigeria's anti-corruption agencies.
The group specifically called for the involvement of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
SERAP wants the agencies to investigate allegations of diversion, unlawful expenditure, procurement violations and other financial misconduct contained in the Auditor-General's report.
It also called for the identification of public officials, contractors, companies, suppliers and consultants who may have been responsible for any unlawful or irregular expenditure.
Where money was found to have been unlawfully or irregularly paid, diverted, lost or spent on goods and services that were not supplied or properly utilised, SERAP wants the funds recovered.
Seven-Day Deadline
SERAP has given INEC seven days from the receipt or publication of its letter to take the requested steps.
The organisation warned that failure to respond within the period would lead it to consider legal action against INEC in the public interest.
SERAP's ultimatum comes as Nigeria prepares for the 2027 general elections, making questions surrounding the management of electoral funds particularly significant.
The commission is responsible for managing large public allocations for voter registration, election technology, logistics, ballot materials, personnel and other activities connected with the electoral process.
The organisation's demand therefore goes beyond the specific ₦126.46 billion figure. It raises broader questions about transparency and accountability in the management of public resources allocated to Nigeria's elections.
Auditor-General's Findings at the Centre of Dispute
The immediate basis of SERAP's demand is the 2023 audited report of the Auditor-General of the Federation.
The report, according to SERAP and reports on the organisation's demand, contains findings relating to expenditure on electoral operations. The organisation has interpreted the findings as raising concerns over funds that were allegedly diverted, lost, mismanaged or otherwise not properly accounted for.
It is important to distinguish between an audit finding and a final judicial determination of criminal wrongdoing.
The allegations referenced by SERAP do not by themselves establish that ₦126.46 billion was stolen by particular individuals or that the entire amount represents confirmed embezzlement. Rather, SERAP is demanding that INEC explain and account for the funds identified in the audit findings and that any suspected misconduct be investigated.
Such investigations could determine whether the expenditure resulted from administrative failures, procurement violations, unlawful payments, non-delivery of goods and services or other forms of financial misconduct.
Why the Demand Matters Ahead of 2027
The dispute comes at a politically sensitive time for Nigeria.
With the 2027 general elections approaching, INEC's financial management is likely to attract increasing public scrutiny. Election administration requires significant public expenditure, from voter registration and accreditation technology to logistics, ballot papers, transportation and security-related coordination.
Any allegation involving billions of naira in electoral funds therefore has implications for public confidence in the electoral system.
For voters, accountability over election spending is not simply an accounting issue. The resources allocated to INEC are intended to support the practical operation of elections, and unexplained expenditure can raise concerns about whether the commission is receiving value for money.
SERAP has consequently linked its demand to the broader principle that public institutions must be transparent about how taxpayers' money is spent.
INEC Under Pressure to Demonstrate Transparency
SERAP's demand also places additional pressure on INEC's leadership to demonstrate transparency as the commission prepares for the next general election.
The organisation has specifically addressed its demand to INEC Chairman Professor Joash Amupitan, asking the commission to take steps to clarify the financial issues identified in the Auditor-General's report.
SERAP's position is that INEC should not merely provide a general response. It wants detailed documentation showing where the money went, who received it, what was procured and whether the goods, services and electoral assets were actually delivered and used.
That level of disclosure would allow relevant authorities and the public to distinguish legitimate electoral expenditure from transactions requiring further investigation.
Legal Action Could Follow
If INEC fails to respond within the seven-day period, SERAP says it will consider taking legal action to compel compliance.
The organisation has previously pursued public-interest litigation over transparency and accountability issues involving Nigerian public institutions.
In this case, however, the next step will depend on INEC's response and whether the commission provides the documentation requested by SERAP.
The EFCC and ICPC could also become involved if formal referrals are made and the allegations meet the threshold for investigation.
For now, the central issue is accountability: SERAP wants INEC to explain how more than ₦126.46 billion appropriated for electoral operations was spent and to identify any funds or assets that cannot be properly accounted for.
As Nigeria moves closer to the 2027 elections, the response could become an important test of how electoral authorities address questions about public expenditure and procurement.
