By Ayomide Otitoju
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over its alleged failure to account for ₦22.3 billion, $49.7 million, £14.3 million and €5.2 million in oil revenues.
In a statement issued on Sunday, SERAP Deputy Director Kolawole Oluwadare said the suit was prompted by allegations contained in the 2022 audited report of the Auditor-General of the Federation, published on September 9, 2025. The action was filed on Friday at the Federal High Court in Abuja.
SERAP is asking the court to issue an order of mandamus compelling NNPC Limited to account for the allegedly missing or diverted funds. The organisation is also seeking an order directing the company to disclose details of the financial transactions related to the funds, including information on disbursements, contractors and other individuals who received the money.
According to SERAP, the alleged diversion or misappropriation of oil revenues reflects broader accountability failures within NNPC Limited and underscores the company’s continued inability to uphold transparency and accountability standards.
The group argued that granting the reliefs sought would help curb impunity, ensure the recovery of the funds, and serve the interests of Nigerians, whom it described as the ultimate victims of the alleged financial misconduct. It said the allegations have undermined Nigeria’s economic development, worsened poverty and denied citizens access to opportunities and essential public services.
SERAP further noted that the Auditor-General has, over several years, reported cases of missing oil revenues at the national oil company, with Nigerians continuing to bear the consequences of funds meant for public services.
The organisation maintained that tackling corruption in the oil sector would help reduce poverty, improve access to basic services, and strengthen the government’s capacity to meet its human rights and anti-corruption obligations.
