SERAP files suit asking a court to compel NNPCL to account for alleged unaccounted oil revenues flagged by the Auditor-General

SERAP sues NNPCL over allegations that the national oil company failed to account for billions of naira and millions in foreign currencies flagged in the Auditor-General’s report.

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The Socio-Economic Rights and Accountability Project filed the suit at the Federal High Court in Abuja, seeking an order of mandamus compelling the Nigerian National Petroleum Company Limited to explain how the disputed funds were spent or to recover them.

In a statement issued on Sunday by SERAP Deputy Director, Kolawole Oluwadare, the organisation said the action followed findings contained in the 2022 audited report of the Auditor-General of the Federation, published on September 9, 2025.

The report allegedly documented cases of unaccounted payments, abandoned contracts and irregular financial transactions involving N22.3bn, $49.7m, £14.3m and €5.2m.

In the suit marked FHC/ABJ/CS/195/2026, SERAP asked the court to “direct and compel the NNPCL to account for the alleged missing or diverted” funds and to disclose details of the transactions, contractors and individuals involved.

SERAP argued that the allegations pointed to broader accountability failures within the oil company and had significant consequences for Nigerians.

“The diverted or misappropriated oil revenues reflect a failure of NNPCL accountability more generally and are directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability,” the organisation stated.

It added that the alleged missing funds had undermined economic development and deprived citizens of access to essential public services.

SERAP maintained that a favourable court order would help curb impunity and restore public trust in the management of Nigeria’s oil resources.

Court documents filed by SERAP’s lawyers, Oluwakemi Agunbiade and Valentina Adegoke, cited several instances in the Auditor-General’s report where payments were allegedly made for contracts said to be abandoned, inflated or executed without proper documentation.

The organisation also argued that tackling corruption in the oil sector would contribute directly to poverty reduction and improved service delivery.