The Socio-Economic Rights and Accountability Project has instituted a suit against the Nigerian National Petroleum Company Limited at the Federal High Court in Abuja, seeking an order compelling the state-owned oil firm to account for over N211tn recorded as “Sundry Receivables” and “Accrued Expenses” in its 2023 audited financial statements.
The suit, marked FHC/ABJ/CS/1427/2026, was filed last week.
SERAP contended that the NNPC Ltd recorded N211.015tn under the two accounting entries in its 2023 audited financial statements without providing adequate details of the transactions or sufficient information to enable Nigerians to scrutinise how the funds were recorded.
As part of the reliefs sought, the organisation is asking the court for “an order of mandamus directing and compelling the NNPCL to account for the N211tn and disclose all documents and information relating to the transactions recorded in its 2023 audited financial statements.”
SERAP is also seeking an order directing the oil
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