The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal proceedings against the Nigerian National Petroleum Company (NNPCL). The lawsuit challenges the company’s inability to clarify the nature of ₦211 trillion listed in its 2023 financial reports as ‘Sundry Receivables’ and ‘Accrued Expenses.’
In the filing at the Federal High Court in Abuja, documented as suit FHC/ABJ/CS/1426/2027, SERAP is requesting a judicial mandate to compel the NNPCL to disclose specific records. The organization demands a breakdown of the ₦107.6 trillion in receivables, including the identities of debtors and the origin of these claims. Additionally, it seeks transparency regarding the ₦103.4 trillion categorized as accrued expenses, requiring details on beneficiaries and the legal foundation for these debts.
SERAP asserts that these massive figures lack the necessary documentation for public verification. By citing the Freedom of Information Act and the African Charter on Human and Peoples’ Rights, the organization argues that the public deserves to understand how state oil resources are handled. They contend that the NNPCL remains accountable to the citizenry regardless of its corporate structure.
The legal team representing SERAP, which includes Oluwakemi Agunbiade and Kehinde Oyewumi, maintains that this lack of transparency hinders fiscal responsibility and breeds mistrust. Although the NNPCL is mandated by law to provide such data, it reportedly failed to respond to prior requests. The court has yet to schedule a date to hear the case.
