Analyst Faults SERAP’s Claim Of Missing N26.9bn In USPF

Public affairs analyst and accountability advocate, Abubakar Yaro, has described as misleading the claim by the Socio-Economic Rights and Accountability Project, SERAP, that N26.9 billion is missing from the Universal Service Provision Fund, USPF.

Yaro stated this in a statement issued on Wednesday.

InfoStride News recalls that SERAP had called for an investigation into the Minister of Communications and Digital Economy, Bosun Tijani, and the Secretary of the USPF, Yomi Arowosafe, over the alleged missing N26.9 billion.

Reacting to the allegation, Yaro said the narrative being presented to the public was selective, exaggerated and lacking critical context.

According to him, available records and findings indicate that the widely circulated allegation of missing N26.9 billion is misleading.

“The data available from the investigation shows the average annual allocation to the USPF within the period under review was about N7.5 billion. Simple arithmetic, therefore, raises a legitimate question: how does an institution with an average yearly funding of N7.5 billion suddenly ‘lose’ N26.9 billion?” he said.

Yaro further explained that over N13.8 billion of the amount being referenced relates to operating surplus deductions reportedly handled directly by the Nigerian Communications Commission, NCC, before the funds are transferred to the USPF.

“According to the records reviewed, the USPF does not receive or retain those funds in the first place,” he added.

He questioned why SERAP allegedly ignored the explanations before making the matter public.

“Therefore, we must ask SERAP why these explanations were ignored before rushing to the media space,” Yaro stated.