SERAP Sues NNPCL Over ₦211 Trillion Oil Money Accountability

The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against the Nigerian National Petroleum Company (NNPCL) for its alleged failure to account for ₦211 trillion in oil money, which was recorded in its 2023 audited financial statements under 'Sundry Receivables' and 'Accrued Expenses.' The lawsuit, filed as suit No. FHC/ABJ/CS/1427/2026 at the Federal High Court in Abuja, demands that NNPCL provide a comprehensive account of the ₦211 trillion, including detailed explanations and supporting documentation for the ₦107.6 trillion categorized as 'Sundry Receivables' and the ₦103.4 trillion listed as 'Accrued Expenses.' SERAP argues that there is a significant public interest in disclosing this information, as the NNPCL has a legal obligation to ensure the accuracy and legality of these entries.

The suit was filed by SERAP's lawyers: Oluwakemi Agunbiade, Kehinde Oyewumi, Andrew Nwankwo, and Maryam Mumuni. No hearing date has been set.