The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over the "failure to account for and explain the whereabouts of the alleged missing USD$2.04 billion and N164 billion oil revenues." The lawsuit, numbered FHC/ABJ/CS/549/2024, was filed at the Federal High Court in Abuja last Friday.
According to SERAP, the lawsuit was prompted by allegations in the recently published 2020 audited report by the Auditor General of the Federation that the NNPC failed to remit the money into the Federation Account, suggesting that the funds may have been diverted.
In the lawsuit, SERAP is seeking an order of mandamus to direct and compel the NNPC to account for and explain the whereabouts of the missing funds. The organization is also seeking an order to compel the NNPC to hand over suspected perpetrators to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution.
SERAP argues that there is a legitimate public interest in providing the details sought, as the missing oil revenues have further damaged the country's already precarious economy and contributed to high levels of deficit spending by the government. The organization asserts that without the full recovery and remittance of the missing funds, the dire economic situation in Nigeria may worsen, and citizens will continue to be denied access to basic public goods and services.
No date has been set for the hearing of the suit.
