The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over its alleged failure to account for missing or diverted oil revenues totalling ₦22.3 billion, USD$49.7 million, £14.3 million, and €5.2 million.
SERAP disclosed this in a statement on Sunday, signed by its Deputy Director, Kolawole Oluwadare. According to the organisation, the lawsuit followed allegations contained in the 2022 audited report by the Auditor-General of the Federation, which was published on 9 September 2025.
The suit was filed last Friday at the Federal High Court in Abuja.
In the application, SERAP is seeking an order of mandamus to compel NNPCL to account for the alleged missing or diverted funds. The group also wants the court to direct the oil company to disclose specific financial transactions linked to the monies, including details of disbursements, contractors involved, and other individuals who allegedly received the funds.
According to SERAP, the alleged diversion or misappropriation of oil revenues reflects a broader failure of accountability within NNPCL and highlights the company’s continued inability to uphold principles of transparency and good governance.
“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,” the organisation said.
SERAP argued that granting the reliefs sought would help curb impunity and ensure that the allegedly missing funds are recovered in the interest of Nigerians.
“Granting the reliefs sought would strike a blow against the impunity of those responsible for the missing or diverted oil money, and ensure that the money is returned for the sake of NNPCL’s victims—Nigerians,” the statement read.
The group further noted that the alleged missing oil revenues have negatively affected Nigeria’s economic development, worsened poverty levels, and deprived citizens of funds meant for essential public services.
“The Auditor-General has for many years documented reports of disappearance of oil money from the NNPCL. Nigerians continue to bear the brunt of these missing oil money meant to provide essential public services,” SERAP added.
The organisation also maintained that addressing corruption in the oil sector would significantly improve Nigerians’ access to basic public goods and services, while strengthening the government’s ability to meet its human rights and anti-corruption obligations.
