The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Nigerian National Petroleum Company over what it described as its “failure to explain and account for ₦211 trillion in oil money recorded in its 2023 audited financial statements as ‘Sundry Receivables’ and ‘Accrued Expenses.’”
This was made known in a statement released by SERAP’s Deputy Director, Kolawole Oluwadare, and made available to PUNCH Online on Sunday.
According to SERAP, NNPCL reportedly recorded over ₦211 trillion (₦211,015,245,000,000) in its 2023 audited financial statements as ‘Sundry Receivables’ and ‘Accrued Expenses’ without adequately explaining the transactions or providing sufficient information to enable public scrutiny of the funds.
In the suit No. FHC/ABJIC/1427/2026 filed last week at the Federal High Court in Abuja, SERAP is seeking “an order of mandamus directing and compelling the NNPCL to account for the ₦211 trillion and disclose all documents and information relating to the transactions recorded in
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