SERAP Sues NNPCL Over N211 Trillion Financial Discrepancy

The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against the Nigerian National Petroleum Company Limited (NNPCL) for its alleged failure to provide adequate explanations regarding N211 trillion recorded in its 2023 audited financial statements. The suit, numbered FHC/ABJ/CS/1427/2026, was filed last week at the Federal High Court in Abuja.

SERAP is requesting an order of mandamus to compel NNPCL to disclose detailed information about N107.6 trillion categorized as 'Sundry Receivables' and N103.4 trillion as 'Accrued Expenses.' The organization argues that there is a public interest in the disclosure of this information to promote transparency and prevent corruption. SERAP contends that the Freedom of Information Act and the African Charter on Human and Peoples’ Rights support the public's right to access such information.

The suit is represented by lawyers Oluwakemi Agunbiade, Kehinde Oyewumi, Andrew Nwankwo, and Maryam Mumuni.