The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPC Ltd), accusing the state-owned oil firm of failing to account for alleged missing or diverted funds totaling N22.3 billion, $49.7 million, £14.3 million, and €5.2 million.
The suit, filed last Friday at the Federal High Court in Abuja, follows damning findings in the 2022 audited report of the Auditor-General of the Federation, published on September 9, 2025.
SERAP is seeking an order of mandamus compelling NNPC to provide a full account of the disputed funds, including details of financial transactions, disbursements, contractors, and individuals who received the monies.
SERAP Deputy Director Kolawole Oluwadare described the alleged misappropriation as part of a broader accountability failure within NNPC, arguing that the missing oil revenues have directly undermined transparency, economic development, and the welfare of Nigerians.
“The diverted or misappropriated oil revenues reflect a failure of NNPC accountability more generally,” SERAP stated.
“Granting the reliefs sought would strike a blow against the impunity of those responsible and ensure that the funds are returned to benefit Nigerians.”
The advocacy group also noted that past Auditor-General reports have repeatedly highlighted unaccounted oil funds, which it said have deprived citizens of access to essential public services, trapped millions in poverty, and hindered national development.
SERAP further emphasised that combating corruption in the oil sector is critical to improving public service delivery and fulfilling Nigeria’s human rights and anti-corruption obligations.
