Abuja, Nigeria – The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) at the Federal High Court in Abuja, demanding full accountability for billions of naira and foreign currencies allegedly missing from the company’s accounts.
The suit, filed last Friday, January 30, 2026, centres on unaccounted oil revenues highlighted in the 2022 audited report of the Auditor-General of the Federation. SERAP is seeking an order of mandamus to compel NNPCL to explain the whereabouts of ₦22.3 billion, USD$49.7 million, £14.3 million, and €5.2 million.
In the originating summons, SERAP asked the court to direct NNPCL to account for the alleged missing or diverted funds and make public all related transactions. This includes details on recipients, expenditure purposes, contractors involved, and any recoveries made.
SERAP argued that the missing revenues reflect a broader failure of accountability within NNPCL and violate constitutional principles of transparency and prudent management of public resources. The group stated that allowing such gaps to persist encourages impunity and erodes public trust in national institutions.
“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,” SERAP said in its court papers.
The organisation further contended that the disappearance of these funds has worsened poverty and deprived Nigerians of essential services. “The funds could have been used to improve access to healthcare, education, and other basic public goods,” the suit noted.
SERAP pointed out that similar concerns about unaccounted oil revenues have appeared in previous Auditor-General reports, suggesting a recurring pattern of financial opacity in the petroleum sector. “The allegations have also undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities,” it added.
The group urged the court to view the case as a step toward combating corruption in the oil industry, which would help the government meet its human rights and anti-corruption obligations. “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,” SERAP stated.
The lawsuit names NNPCL as the sole respondent. SERAP is seeking several reliefs, including:
- A declaration that NNPCL’s failure to account for the missing funds violates sections of the Constitution and the Fiscal Responsibility Act.
- An order compelling NNPCL to publish a comprehensive report on the funds, including how they were disbursed and any recoveries.
- An order directing NNPCL to recover any misappropriated amounts and remit them to the Federation Account.
As of the time of filing this report on February 2, 2026, NNPCL has not issued a public response to the lawsuit or indicated whether it will contest the suit.
The case is one of several recent legal actions by SERAP targeting transparency in the management of Nigeria’s oil revenues. The organisation has previously sued over similar allegations involving the Nigerian National Petroleum Corporation (NNPC, now NNPCL) and other public entities.
NNPCL was incorporated in 2021 under the Petroleum Industry Act as a commercial entity replacing the former NNPC. It is expected to operate with greater autonomy and accountability, but critics argue that financial transparency remains inadequate.
The Auditor-General’s 2022 report, which formed the basis of SERAP’s suit, flagged several discrepancies in oil revenue remittances and expenditures. The report recommended improved record-keeping and stricter oversight.
SERAP’s legal action is filed under its mandate to promote transparency, accountability, and the enforcement of socio-economic rights in Nigeria. The group has successfully litigated several high-profile cases compelling public institutions to disclose information or recover public funds.
The Federal High Court has yet to assign a hearing date for the matter.
