The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), asking the Federal High Court in Abuja to compel the company to explain and account for ₦211 trillion recorded in its 2023 audited financial statements.
The suit, marked FHC/ABJ/CS/1427/2026, seeks an order of mandamus directing the state-owned oil company to disclose documents and information relating to the transactions listed as ‘Sundry Receivables’ and ‘Accrued Expenses’.
According to SERAP, the audited accounts show ₦107.6 trillion under sundry receivables and another ₦103.4 trillion as accrued expenses.
The organisation argued that the financial statements did not provide enough details for the public to understand or scrutinise the transactions.
SERAP is asking the court to order NNPCL to provide a detailed breakdown of the ₦107.6 trillion recorded as sundry receivables, including the identities of debtors, the amounts owed, the legal basis for the receivables and the steps taken to recover the funds.
The rights group also wants the company to disclose how the ₦103.4 trillion classified as accrued expenses was incurred.
It is seeking information on the identities of creditors and beneficiaries, the nature of the liabilities, the legal basis for the expenses and documents supporting the transactions.
In addition, SERAP is requesting that NNPCL release all records and documents used in preparing and approving the ₦211 trillion entries contained in its 2023 audited financial statements.
The suit was filed on behalf of the organisation by its legal team, comprising Oluwakemi Agunbiade, Kehinde Oyewumi, Andrew Nwankwo and Maryam Mumuni.
SERAP argued that there is a strong public interest in the disclosure of the information, maintaining that Nigerians have a right to know how public resources are managed.
No date has been fixed for the hearing of the case.
