The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Nigerian National Petroleum Company Limited (NNPCL) to the Federal High Court in Abuja, seeking a court order to compel the oil giant to fully account for over N211 trillion recorded as “Sundry Receivables” and “Accrued Expenses” in its 2023 audited financial statements.
In the suit marked FHC/ABJ/CS/1427/2026, filed last week, SERAP is asking the court to issue an order of mandamus directing the NNPCL to disclose all relevant documents and provide a detailed explanation of the massive entries.
The group noted that the NNPCL recorded approximately N107.6 trillion under “Sundry Receivables” and N103.4 trillion under “Accrued Expenses” together totaling over N211 trillion without adequate details on the transactions.
This lack of transparency, SERAP argues, prevents Nigerians from scrutinising how the funds were handled.
SERAP is specifically seeking:
A detailed reconciliation of the N107.6 trillion in sundry receivables, including the identities of debtors, amounts owed, legal
