SERAP Sues NNPCL, Seeks Details of ₦211 Trillion Financial Entries

The Socio-Economic Rights and Accountability Project (SERAP) has sued the Nigerian National Petroleum Company Limited (NNPCL), seeking details of more than ₦211 trillion recorded in its 2023 audited financial statements. SERAP said the entries, listed as “Sundry Receivables” and “Accrued Expenses”, lacked enough detail for the public to understand the underlying transactions. The group is asking the Federal High Court in Abuja to order NNPCL to release relevant records and provide a full explanation. The lawsuit raises fresh questions about transparency in the management of Nigeria’s oil revenue. NNPCL had not publicly responded to the case at the time of the report.

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