The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over the failure to account for alleged missing funds
‎SERAP Deputy Director, Kolawole Oluwadare, revealed this in a statement on Sunday
‎According to him, the suit followed the allegations documented in the 2022 audited report by the Auditor-General of the Federation, which was published on the 9th of, September 2025.
‎The group is seeking an order of mandamus to direct the NNPCL to account for the alleged missing or diverted N22.3 billion, USD$49.7 million, £14.3 million, and €5.2 million oil money.
‎It also asked the court to compel the NNPCL to reveal the specific financial transactions carried out in respect of the missing funds, including details of disbursement, the contractors, and other individuals who collected the money.
‎SERAP argued that the diverted or misappropriated oil revenues reflected a failure of NNPCL accountability more generally and was directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability
‎It added that granting the reliefs sought would strike a blow against the impunity of those responsible for the missing or diverted funds, and ensure that the money was returned for the sake of Nigerians.
Edited by Favour Owonibi.