The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) over its alleged failure to account for about ₦5.9 billion reportedly spent on the incorporation, transition and rebranding of NNPC into NNPCL.
Naijaonpoint reports that the suit, marked FHC/ABJ/CS/1248/2026, was filed last week at the Federal High Court in Abuja.
SERAP is seeking an order of mandamus to compel the NNPCL to account for the funds allegedly spent on the rebranding exercise.
According to SERAP, the NNPC reportedly paid ₦2.9 billion for incorporation expenses from petroleum product proceeds.
The group said the National Petroleum Investment Management Services also charged N2.9bn to crude oil revenue for the same purpose, bringing the total amount reportedly spent to ₦5.9 billion.
SERAP is asking the court to “direct and compel the NNPCL to provide a comprehensive reconciliation statement detailing the specific financial transactions relating to the ₦5.9 billion expenditure, including the identities of the contractors involved, and how the funds were utilised for the rebranding of NNPC to NNPCL.”
The organisation is also asking the court to compel NNPCL to disclose the names and official positions of government officials who authorised and approved the release of the money.
SERAP also wants the company to clarify whether the expenditure complied with procurement laws and due process requirements.
It said, “There is a legitimate public interest in the disclosure of the details sought. The NNPCL has a legal responsibility to explain whether the ₦5.9 billion expenditure represents value for money, constitutes lawful spending of public funds, and complies with applicable due process requirements.”
SERAP argued that transparency and accountability were required over the alleged spending.
“There ought to be full transparency and accountability regarding the reported ₦5.9 billion spent on rebranding NNPC to NNPCL. Nigerians have the right to know who approved the expenditure, who received the funds, the nature of the services rendered, and whether due process and procurement requirements were strictly followed,” it said.
According to the group, disclosure of the identities of officials involved and the processes followed in approving the expenditure would help the public assess whether the spending was properly authorised and represented value for money.
“Given the size of the reported expenditure and the importance of transparency in the management of public resources within the petroleum sector, there is an urgent need for a prompt, thorough, and transparent disclosure of the details surrounding the spending of the funds,” SERAP added.
The suit, filed on behalf of SERAP by its lawyers, Oluwakemi Agunbiade, Kehinde Oyewumi and Andrew Nwankwo, described the alleged spending as a serious matter requiring explanation.
The suit read in part, “The alleged spending of the ₦5.9 billion suggests a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s international anticorruption obligations.
“The failure to account for the spending of the ₦5.9 billion on rebranding from NNPC to NNPCL reflects a failure of NNPCL accountability more generally and is directly linked to the institution’s continuing failure to uphold transparency and accountability principles.
“The refusal or failure of the NNPCL to provide a detailed account of the expenditure undermines the right of access to information concerning the management of public resources.”
SERAP said the Senate Committee on Public Accounts reportedly raised concerns over the N5.9bn described as incorporation and transition expenses during the transformation of NNPC into NNPCL.
“The Committee described the spending of the ₦5.9 billion as excessive, unjustifiable, and deserving of further explanation, investigation, and legislative scrutiny in the public interest,” the suit stated.
The group noted that the transformation of NNPC into NNPCL followed the enactment of the Petroleum Industry Act 2021, which required the corporation to become a commercially oriented limited liability company fully owned by the Federal Government.
SERAP cited sections of the 1999 Constitution, as amended, and international anti-corruption instruments in support of its case.
“Section 13 of the Nigerian Constitution 1999 [as amended] requires all public institutions, including the NNPCL, to conform to and apply the provisions of Chapter II of the Constitution, while Section 15(5) mandates the public institutions to abolish all corrupt practices and abuse of power,” the suit stated.
“Similarly, Section 16 of the Constitution requires the public institutions to ensure that the material resources of the nation are harnessed and distributed as best as possible to serve the common good.
“Articles 5 and 9 of the UN Convention against Corruption require Nigeria to ensure transparency and proper management of public funds.
“Article 21 of the African Charter on Human and Peoples’ Rights recognises the right of peoples to freely dispose of their natural resources and provides that the misappropriation of such resources shall give rise to the right of the people to recovery and compensation.”
