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By Philip Nwosu
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 missing or diverted public funds amounting to N22.3 billion, $49.7 million, £14.3 million and €5.2 million.
The suit, filed last Friday at the Federal High Court Abuja, followed allegations contained in the 2022 audited report released by the Auditor-General of the Federation on September 9, 2025.
In the suit marked :FHC/ABJ/CS/195/2026, SERAP is seeking an order of mandamus compelling NNPCL to provide a detailed account of the alleged missing funds and to disclose specific financial transactions related to them.
The organisation is asking the court to direct the national oil company to reveal details of disbursements, contractors involved, and other individuals or entities that received the funds.
SERAP argued in its filing that the allegations reflect a deep failure of accountability within the NNPCL and demonstrate a continuing disregard for transparency and integrity.
“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,” SERAP stated.
The civil society group maintained that granting the reliefs sought would help combat impunity and ensure that stolen public funds are recovered for the benefit of Nigerians.
“The allegations have undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities,” the group added.
The lawsuit, filed on behalf of SERAP by its lawyers Oluwakemi Agunbiade and Valentina Adegoke, cited several instances of financial irregularities contained in the Auditor-General’s report.
Among the allegations highlighted were claims that NNPCL paid N292 million for a contract to construct an Accident and Emergency Facility along Airport Road, Abuja, which was never executed, despite the contractor receiving full payment.
The report also alleged that NNPCL spent over £14 million in 2021 to renovate its London office without providing any evidence of the expenditure.
Other findings included an “irregular payment” of $22.8 million to a contractor for lifting crude oil cargoes, unexplained payments totalling N3.4 billion for undocumented services, and the alleged payment of €5.1 million for maintenance of the Atlas Cove Jetty Facility without any supporting documents.
SERAP further cited claims that NNPCL paid N2.3 billion as car cash options to 100 staff without approval from the National Salaries, Incomes and Wages Commission, and failed to deduct statutory taxes from several contractor payments.
The organisation argued that corruption in the oil sector has severely damaged Nigeria’s economy and contributed to rising poverty and government borrowing.
“Despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, including in the NNPCL, and the entrenched culture of impunity,” the suit stated.
SERAP urged the court to compel NNPCL to recover and remit any misappropriated funds to the national treasury, insisting that transparency in the management of oil revenues is essential to national development and the protection of citizens’ rights.
