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 and millions of dollars in oil revenues.
SERAP disclosed the legal action in a statement on Sunday, signed by its Deputy Director, Kolawole Oluwadare. The suit, filed last Friday at the Federal High Court in Abuja, is based on allegations contained in the 2022 audited report of the Auditor-General of the Federation, published on 9 September 2025.
According to SERAP, the report raised concerns over the alleged disappearance or diversion of ₦22.3 billion, USD$49.7 million, £14.3 million and €5.2 million in oil money linked to NNPC operations.
The organisation is asking the court to issue an order of mandamus compelling NNPC Limited to fully account for the funds. It is also seeking an order directing the company to disclose specific financial transactions, including details of disbursements, contractors, and individuals who allegedly received the money.
SERAP argued that the alleged diversion of oil revenues highlights broader accountability failures within NNPC and reflects the institution’s continued disregard for transparency obligations.
“The diverted or misappropriated oil revenues are directly linked to the persistent failure of NNPC to uphold transparency and accountability,” SERAP stated.
The group said granting the reliefs sought would help combat impunity in the oil sector and ensure the recovery of public funds for the benefit of Nigerians.
SERAP further noted that the alleged missing oil revenues have undermined Nigeria’s economic development, worsened poverty levels, and denied citizens access to essential public services.
For years, the Auditor-General’s reports have documented cases of unaccounted oil revenues within NNPC, SERAP added, warning that Nigerians continue to bear the cost of these losses.
The organisation also argued that tackling corruption in the oil sector would significantly improve access to basic services and strengthen Nigeria’s economic prospects.
