The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) over its alleged failure to explain and account for more than ₦211 trillion recorded in the company’s 2023 audited financial statements.
The suit, marked FHC/ABJ/CS/1427/2026, was filed last week before a Federal High Court in Abuja.
In the case, SERAP is asking the court to compel NNPCL to provide a full account of the funds and disclose all documents relating to the financial entries contained in its 2023 audited financial statements.
According to the advocacy organisation, the lawsuit seeks to promote transparency and accountability in the management of public resources by ensuring that the state-owned oil company provides a clear explanation for the financial records in question.
The case is expected to test NNPCL’s compliance with its legal obligations on financial disclosure and public accountability.
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