The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), seeking a court order compelling the state-owned oil firm to explain and account for ₦211 trillion recorded in its 2023 audited financial statements under ‘Sundry Receivables’ and ‘Accrued Expenses’.
The suit, marked FHC/ABJ/CS/1427/2026, was filed last week at the Federal High Court in Abuja.
According to SERAP, NNPCL recorded ₦211.02 trillion in its 2023 audited accounts without providing sufficient details or supporting documentation to enable public scrutiny of the transactions.
The organisation is asking the court to issue an order of mandamus directing NNPCL to disclose all documents and information relating to the entries.
Specifically, SERAP wants the court to compel NNPCL to provide a detailed reconciliation of the ₦107.6 trillion listed as Sundry Receivables, including the identities of debtors, amounts owed, the legal basis for the receivables and the status of recovery efforts.
It is also seeking full disclosure of the ₦103.4 trillion recorded as Accrued Expenses, including the identities of creditors and beneficiaries, the nature of the liabilities, their legal basis and documents supporting the transactions.
The rights group further requested access to all records relied upon in preparing and approving the ₦211 trillion entries in the company’s audited financial statements.
In the suit, filed by its lawyers Oluwakemi Agunbiade, Kehinde Oyewumi, Andrew Nwankwo and Maryam Mumuni, SERAP argued that there is an overriding public interest in the disclosure of the information.
The organisation maintained that the Freedom of Information Act and the African Charter on Human and Peoples’ Rights guarantee citizens the right to access information held by public institutions, including NNPCL.
SERAP argued that greater transparency would strengthen fiscal accountability, prevent corruption and allow Nigerians to scrutinise the management of public resources.
It also contended that Nigerians have the right to know who owes the ₦107.6 trillion recorded as receivables, who is entitled to the ₦103.4 trillion in accrued expenses, the legal basis for the transactions and whether they comply with applicable laws.
According to SERAP, NNPCL’s audited accounts do not adequately explain the entries or provide sufficient documentation to independently verify the transactions.
The organisation further argued that despite its corporate status under the Petroleum Industry Act, NNPCL remains subject to the Freedom of Information Act because it is wholly owned by the Federal Government and manages Nigeria’s petroleum resources on behalf of the federation.
SERAP also alleged that NNPCL failed to respond to its Freedom of Information request within the period prescribed by law, describing the silence as a deemed refusal that justifies judicial intervention.
The group maintained that the requested information is not exempt from disclosure and concerns matters of significant public interest involving transparency, accountability and the management of Nigeria’s oil wealth.
No date has been fixed for the hearing of the suit.
