By Danjuma Amodu | J January 1, 2026
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) over alleged failure to account for N22.3bn, $49.7m, £14.3m, and €5.2m in oil revenue.
The suit, filed at the Federal High Court in Abuja, seeks to compel NNPCL to explain how the funds were spent or recover them.
SERAP cites the 2022 Auditor-General’s report, which documented unaccounted payments, abandoned contracts, and irregular transactions by NNPCL. The organization argues that the alleged missing funds have far-reaching consequences for Nigerians, undermining economic development and trapping citizens in poverty.
The suit seeks an order for NNPCL to disclose specific financial transactions related to the missing funds, including disbursement details, contractors involved, and individuals who collected the money.
SERAP maintains that addressing corruption in the oil sector would alleviate poverty and improve access to basic services.
The court has not fixed a hearing date yet, but the lawsuit filed by SERAP against NNPCL is based on allegations of unaccounted oil revenue, highlighting concerns about transparency and accountability in Nigeria’s oil sector. The Auditor-General’s 2022 report documented irregularities, including unaccounted payments and abandoned contracts, prompting SERAP to seek judicial intervention to address these issues.
