SERAP Sues NNPC for Accountability Over N211 Trillion

The Socio-Economic Rights and Accountability Project (SERAP) has initiated a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) at the Federal High Court in Abuja, seeking to compel the company to account for over N211 trillion listed as “Sundry Receivables” and “Accrued Expenses” in its 2023 audited financial statements. The suit, marked FHC/ABJ/CS/1427/2026, was filed last week.

SERAP claims that NNPCL recorded N211.015 trillion under these entries without providing sufficient details for public scrutiny. The organization is requesting the court to order NNPCL to disclose all documents related to these transactions, including a detailed explanation of the N107.6 trillion in Sundry Receivables and the N103.4 trillion in Accrued Expenses.

SERAP argues that there is a public interest in disclosing this information to promote transparency and prevent corruption. The suit was filed by lawyers Oluwakemi Agunbiade, Kehinde Oyewumi, and Andrew Nwankwo.