SERAP sues NNPCL over alleged lacking $49.7 million, £14.3 million, different oil funds
Socio-{Economic} Rights and Accountability Venture (SERAP) has filed a lawsuit looking for to compel the Nigerian Nationwide Petroleum Firm Restricted (NNPCL) to account for over N22.3 billion, USD$49.7 million, £14.3 million, and €5.2 million in oil revenues allegedly lacking or diverted.
That is in response to court docket filings made by SERAP in go well with quantity FHC/ABJ/CS/195/2026 filed final Friday on the Federal Excessive Court docket in Abuja.
The lawsuit argues that the alleged diversion of oil revenues has undermined the {economic} growth of the nation, trapped the vast majority of Nigerians in poverty and disadvantaged them of alternatives.
In accordance with SERAP, the go well with relies on allegations contained within the 2022 audited report of the Auditor-Basic of the Federation printed on 9 September 2025.
“An order of mandamus to direct and compel the NNPCL to account for the alleged lacking or diverted N22.3 billion, USD$49.7 million, £14.3 million, and €5.2 million oil cash,” they stated
SERAP is asking the court docket to direct and compel the NNPCL to disclose the precise {financial} transactions carried out in respect of the alleged lacking or diverted oil cash, together with particulars of disbursement, the contractors, and different people who collected the cash.
They alleged diversion of funds displays a failure of NNPCL accountability extra typically and is instantly linked to the establishment’s persevering with failure to uphold the ideas of transparency and accountability.
SERAP additional argued that court docket intervention is important to handle what it described as entrenched impunity.
“Granting the reliefs sought would strike a blow in opposition to the impunity of these accountable for the lacking or diverted oil cash, and be certain that the cash is returned for the sake of NNPCL’s victims—Nigerians,” SERAP stated.
The go well with adopted the discharge of the 2022 audited report by the Auditor-Basic of the Federation, which alleged that the NNPCL didn’t account for oil revenues.
These tasks, amongst others, characterize a number of questionable transactions spanning a number of years, SERAP is asking the court docket to compel the NNPCL to completely clarify and account for.
The most recent SERAP lawsuit shouldn’t be the primary time the Nigerian Nationwide Petroleum Firm Restricted has confronted scrutiny over unaccounted oil funds. Way back to February 2024, SERAP gave NNPCL a seven-day ultimatum to elucidate the disappearance of USD$2.04 billion and N164 billion in oil revenues.
Past civil society motion, Nigeria’s legislature has additionally weighed in. In mid-2025, the Senate Committee on Public Accounts issued a deadline for NNPCL to answer audit queries involving N210 trillion in unaccounted liabilities and belongings spanning 2017 to 2023.