Group sues NNPCL over failure to account for missing N825bn, $2.5bn

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The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Nigerian National Petroleum Company Limited over what it described as “failure to account for and explain the whereabouts of the alleged missing N825bn and $2.5bn meant for ‘refinery rehabilitation’ and other oil revenues.”

This was according to a statement by SERAP’s Deputy Director, Kolawole Oluwadare, on Sunday.

The suit followed allegations documented in the 2021 audited report by the Auditor-General of the Federation, Adolphus Aghughu, which was published on November 27, 2024.

PUNCH Online reports that last week, the President of Dangote Group, Aliko Dangote, said that NNPCL refineries may never work again, despite the $18 billion spent on the refineries.

In the suit number FHC/L/MISC/722/25 filed last Friday at the Federal High Court in Lagos, SERAP is seeking “an order of mandamus to direct and compel the NNPCL to account for and explain the whereabouts of the alleged missing N825 billion and USD$2.5 billion of public funds meant for ‘refinery rehabilitation’ and repair.”

SERAP is also asking the court to “direct and compel the NNPCL to recover and remit to the federation account the alleged missing N825 billion and USD$2.5 billion of public funds meant for refinery rehabilitation and repair.

“Direct and compel the NNPCL to identify those responsible for the missing oil money, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies for investigation and prosecution.”

In the suit, SERAP also argued that “the grim allegations by the Auditor-General (and Mr Aliko Dangote) suggest a grave violation of the public trust and the provisions of the Nigerian Constitution, national anticorruption laws, and the country’s international human rights and anticorruption obligations.