A federal capital territory (FCT) excessive court docket has authorized the listening to of a swimsuit in search of to compel the refund of over N140 billion allegedly linked to the acquisition of OVH Energy, proprietor and operator of the Oando branded retail service stations, by the Nigerian National Petroleum Company (NNPC) Limited.
The case, filed below public curiosity litigation by the Incorporated Trustees of Legal Defence Against Injustice Initiative, is marked CV/3104/2025.
The swimsuit lists Dapo Segun, NNPC’s chief {financial} officer and former govt vp, downstream, as the primary defendant, whereas the Economic and Financial Crimes Commission (EFCC) and the attorney-general of the federation (AGF), are joined as second and third defendants.
Through its counsel, Festus Ugo, the plaintiff requested the court docket to find out whether or not Segun must be held personally liable to account for and refund $325.09 million (about N140.5 billion) allegedly spent on the OVH Energy acquisition.
The group is in search of a sequence of reliefs and orders, together with a declaration that Segun is personally liable to refund the sums in query to the federal authorities.
“A declaration of this honourable court that in view of Sections 15 (5) of the amended 1999 Constitution of the federal republic of Nigeria, the 1st defendant is not personally liable to account and refund to the coffers of the coffers of the federal government of Nigeria through the 2nd and 3rd defendants the total sum of Five Trillion Naira which was paid by the Nigerian National Petroleum Company Limited under the remit of the 1st Defendant as the executive vice president, downstream for rehabilitation of the Port Harcourt and Warri refineries,” the court docket doc reads.
“An order of this honourable court directing the 1st defendant to pay forthwith into the treasury of the federal government of Nigeria (through the 2nd and 3rd defendants) the total sum of $325.09 million (N140.559 billion).”
The plaintiff additionally sought an order directing the EFCC and the AGF to prosecute Segun over his position within the transactions.
GROUP ASKS COURT TO BAR SEGUN FROM HOLDING PUBLIC OFFICE
Incorporated Trustees additionally desire a perpetual injunction barring him from holding any public workplace in Nigeria.
In a separate ex-parte movement, the plaintiff additionally requested the court docket to droop Segun from workplace as NNPC’s CFO and compel him to reveal particulars of his property, together with firm pursuits, tax data, and native and overseas {bank} accounts.
No date has been mounted for the listening to of the matter.
In 2022, NNPC introduced its acquisition of OVH Energy, describing it as a strategic transfer to broaden operations and appeal to investments into Nigeria’s downstream oil sector.
In August 2024, the nationwide meeting additionally invited stakeholders to partake in a forensic investigation into the “irregularities” and alleged corruption” within the NNPC–OVH deal.
Almost a yr after, the EFCC interrogated Umar Isa, a former chief {financial} officer (CFO) of NNPC, regarding an alleged $7.2 billion fraud related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.
Isa, who oversaw the discharge of funds for the turnaround upkeep of the refineries throughout his tenure as CFO, is reportedly below investigation together with different key officers for alleged abuse of workplace, corruption, fund diversion, and kickbacks from contractors.
