The Socio Economic Rights and Accountability Project has filed a suit against the Nigerian National Petroleum Company Limited at the Federal High Court in Abuja, seeking an order compelling the company to account for 211 trillion naira recorded in its 2023 audited financial statements under sundry receivables and accrued expenses.
The organization alleges that the company has failed to adequately explain the transactions behind the figures, denying Nigerians the ability to scrutinize how public funds are managed, and is asking the court to compel the company to disclose a detailed breakdown of the 107.6 trillion naira listed as receivables, including the identities of debtors and the legal basis for the claims, as well as the 103.4 trillion naira listed as accrued expenses, including the identities of creditors and supporting documentation.
SERAP argues that the Freedom of Information Act and the African Charter on Human and Peoples’ Rights guarantee citizens the right to access information held by public institutions, including the national oil company, and that disclosure would strengthen fiscal accountability and public confidence in the management of Nigeria’s petroleum resources. The suit was filed by a legal team including Oluwakemi Agunbiade, Kehinde Oyewumi, Andrew Nwankwo and Maryam Mumuni.
