KEY POINTS
- SERAP has sued NNPCL over alleged failure to account for N22.3bn, $49.7m, £14.3m and €5.2m in oil revenues.
- The suit is based on allegations contained in the 2022 Auditor-General’s report published in September 2025.
- SERAP is asking the court to compel NNPCL to disclose transaction details and account for the funds.
The Socio-Economic Rights and Accountability Project, SERAP, has filed a lawsuit against the Nigerian National Petroleum Company Limited, NNPCL, over its alleged failure to account for N22.3 billion, $49.7 million, £14.3 million and €5.2 million in oil revenues.
The suit, filed last Friday at the Federal High Court in Abuja, follows allegations contained in the 2022 audited report of the Auditor-General of the Federation, published on September 9, 2025.
SERAP is seeking an order of mandamus compelling the NNPCL to explain how the funds were spent and to disclose full details of the transactions, including beneficiaries, contractors, and disbursement records.
Allegations point to systemic accountability failures
SERAP argues that the alleged missing or diverted oil revenues reflect broader accountability and transparency lapses within the national oil company.
According to the organisation, the disappearance of these funds has undermined Nigeria’s economic development, worsened poverty levels, and deprived citizens of resources meant for essential public services.
SERAP further contends that granting the reliefs sought would curb impunity and help ensure that any recovered funds are returned for the benefit of Nigerians.
SERAP cited numerous findings in the Auditor-General’s report, including payments for abandoned or unexecuted projects, undocumented expenditures, irregular contract renewals, and failure to deduct statutory taxes from contractor payments.
Among the highlighted cases are payments for a supposedly abandoned accident and emergency facility project in Abuja, unverified spending on repairs of NNPCL’s London office, irregular payments for crude oil lifting, unexplained staff car cash options, and multiple consultancy and infrastructure contracts allegedly lacking supporting documentation.
The Auditor-General also expressed concerns that several of the payments may have been diverted and recommended that some funds be recovered and remitted to the treasury.
Call for stronger anti-corruption action
SERAP maintains that tackling corruption in the oil sector would reduce poverty, improve access to basic services, and strengthen Nigeria’s compliance with constitutional, anti-corruption, and international human rights obligations.
The organisation said the lawsuit was filed by its lawyers, Oluwakemi Agunbiade and Valentina Adegoke.
No date has been fixed for the hearing of the case.
