The Socio-Economic Rights and Accountability Project (SERAP) has instituted a legal action against the Nigerian National Petroleum Company (NNPC) Limited over the “failure to account for the alleged missing or diverted ₦22.3 billion, USD$49.7 million, £14.3 million and €5.2 million oil money.”
SERAP disclosed this in a statement on Sunday through its Deputy Director, Kolawole Oluwadare, noting that the suit was prompted by allegations contained in the 2022 audited report of the Auditor-General of the Federation, published on September 9, 2025.
The lawsuit was filed last Friday at the Federal High Court in Abuja.
In the suit, SERAP is asking the court to grant “an order of mandamus to direct and compel 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.”
The organisation also urged the court to “direct and compel the NNPCL to disclose the specific financial transactions carried out in respect of the alleged missing or diverted N22.3 billion, USD$49.7 million, £14.3 million and €5.2 million oil money, including details of disbursement, the contractors, and other individuals who collected the money.”
SERAP argued that “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.”
It added that granting the reliefs sought would help curb impunity, ensure accountability, and guarantee that the funds are recovered for the benefit of Nigerians.
According to SERAP, the allegations have negatively affected Nigeria’s economic development, deepened poverty levels, and denied citizens access to basic public services.
“The Auditor-General has for many years documented reports of disappearance of oil money from the NNPCL. Nigerians continue to bear the brunt of these missing oil money meant to provide essential public services for Nigerians,” the group said.
SERAP further maintained that, “Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”