Rights group cites Auditor-General’s 2022 report, seeks court order compelling full financial disclosure….
The Socio-Economic Rights and Accountability Project (SERAP) has instituted a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) over what it described as the company’s failure to account for allegedly missing or diverted oil revenues amounting to ₦22.3 billion, $49.7 million, £14.3 million and €5.2 million.
The rights organisation disclosed the development in a statement issued on Sunday by its Deputy Director, Kolawole Oluwadare. According to SERAP, the suit was filed last Friday at the Federal High Court in Abuja.
SERAP said the legal action was prompted by allegations contained in the 2022 audited report of the Auditor-General of the Federation, which was published on September 9, 2025. The report reportedly raised concerns over the disappearance or diversion of significant oil revenues linked to NNPCL.
In the suit, SERAP is asking the court to issue an order of mandamus compelling the NNPCL to provide a full account of the alleged missing or diverted ₦22.3 billion, $49.7 million, £14.3 million and €5.2 million oil funds.
The organisation is also seeking an order directing the company to disclose detailed information on the specific financial transactions carried out in relation to the funds, including how the money was disbursed, the contractors involved, and other individuals or entities that allegedly received the payments.
According to SERAP, the alleged diversion or misappropriation of oil revenues reflects a wider accountability failure within the NNPCL and is closely linked to the company’s continued inability to uphold transparency and accountability standards.
The group argued that granting the reliefs sought would help curb impunity among those responsible for the alleged diversion of public funds and ensure that the money is recovered for the benefit of Nigerians, whom it described as the ultimate victims.
SERAP further stated that the allegations have negatively affected Nigeria’s economic development, deepened poverty levels, and denied citizens access to opportunities and essential public services.
“The Auditor-General has for many years documented reports of the disappearance of oil revenues from the NNPCL. Nigerians continue to bear the brunt of these missing oil funds meant to provide essential public services,” the organisation said.
It added that addressing corruption in the oil sector would help alleviate poverty, improve Nigerians’ access to basic public goods and services, and strengthen the government’s ability to meet its human rights and anti-corruption obligations.
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