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SERAP Sues NNPCL Over Alleged Failure To Account For Missing N825bn, $2.5bn

Published

5 months ago

July 13, 2025

The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Nigerian National Petroleum Company Limited (NNPCL) to the Federal High Court in Lagos over its alleged failure to provide an account for an estimated N825 billion naira and $2.5 billion in public funds. These funds were reportedly allocated for refinery rehabilitation and other oil-related revenues.

According to a statement issued by SERAP’s Deputy Director, Kolawole Oluwadare, on Sunday, the lawsuit (FHC/L/MISC/722/25), filed last Friday, is predicated on findings detailed in the 2021 audited report by the Auditor-General of the Federation, Adolphus Aghughu, which was made public on November 27, 2024.

The legal action also comes amidst renewed public skepticism regarding the state of Nigeria’s refineries. Just last week, Aliko Dangote, President of Dangote Group, openly expressed doubts that the NNPCL’s refineries would ever operate effectively again, despite an estimated $18 billion having already been spent on them over the years. This sentiment echoes previous concerns raised by former President Olusegun Obasanjo regarding the NNPC’s capacity to manage the refineries.

SERAP is seeking several court orders: Mandamus to compel the NNPCL to account for and explain the whereabouts of the missing N825 billion naira and $2.5 billion of public funds designated for refinery rehabilitation and repairs.

Mandamus to compel the NNPCL to recover and return these missing funds to the federation account.

Mandamus to 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 anti-corruption agencies for investigation and prosecution.

In its suit, SERAP 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.”

The organization contended that “granting the reliefs sought would strike a blow against the impunity of those responsible for the missing oil money meant to repair the country’s refineries and ensure that the money is returned for the sake of NNPCL’s victims—Nigerians.”

SERAP emphasised that these alleged financial irregularities have “undermined the economic development of the country, trapped the majority of Nigerians in poverty, and contributed to high levels of deficit spending by the government.”

The lawsuit, filed by SERAP’s lawyers, Kolawole Oluwadare, Ms. Oluwakemi Oni, and Ms. Valentina Adegoke, further detailed the Auditor-General’s findings. These include — Over N82.95 billion ($82,951,595,510.47) “deducted from the sale of Crude Oil and Gas between 2020 and 2021” for “refinery rehabilitation and repairs” without proper authorization. The AGF “fears that the money may be missing” and recommends its recovery.

Over N343.64 billion ($343,642,598,726.51) “being proceeds from domestic crude sales,” unilaterally deducted for “pipelines maintenance and management costs.” The AGF “fears the money may have been diverted” and calls for its recovery and the prosecution of those involved.

Over N83.65 billion ($83,659,813,739.99) “being miscellaneous income from the NNPC joint venture operations from 2016 to 2020,” withdrawn from a “CBN/NNPC sinking fund account.” This practice, the AGF noted, “has led the Federation to resort to borrowings.”

Over N204.85 billion ($204,853,744,047.39) “being unjustified deductions from the oil royalties for 2021,” originally due to the Department of Petroleum Resources (now NUPRC). The AGF “fears the money may have been diverted.”

Over N3.74 billion ($3,748,581,281.27) “purportedly paid to a Company as a shortfall on sales of MT cargo of PMS,” which the AGF “fears the money may be missing.”

Over N28.65 billion ($28,654,179,867.00) “being outstanding bridging allowance from NNPC retail for 2021,” and over N13.55 billion ($13,555,965,814.91) “being outstanding bridging allowance claims from three major oil marketers in 2021.” The AGF is concerned this “may have resulted in difficulty in funding the 2021 budget.”

Over N15 billion ($14,134,947,949.80 and $1,087,533,332.62) “being outstanding revenues from debts owed by twenty-six marketers for 2021.”

Over $29.64 million ($29,648,970.36) “being outstanding royalties payable to the Department of Petroleum Resources CBN account.”

Uncollected outstanding oil royalties of over $2.26 billion ($2,260,448,992.45) and N48.21 billion ($48,218,163,192.67) from oil companies for 2021. The AGF “fears that the money may be missing” and notes this “may have resulted in difficulty in funding the 2021 budget.”

No date has been fixed yet for the hearing of the suit as of the time of this report.
(TRIBUNE)

News

YULETIDE: Edo Sports Commission Boss Preaches Unity, Peace

Published

1 hour ago

December 25, 2025

Editor

The Executive Chairman of the Edo State Sports Commission, Hon. Amadin Desmond Enabulele, has extended warm Christmas greetings to athletes, coaches, sports administrators, journalists, and the people of Edo State, urging them to uphold the enduring values of love, peace, and unity that define the festive season.

In a statement issued by his Media Officer, Edoko Wilson Edoko, Hon. Enabulele described Christmas as a period of reflection, gratitude, and renewed commitment to collective progress and shared responsibility.

“I sincerely appreciate all stakeholders in the sports sector for their cooperation, resilience, and unwavering support throughout the year. Your contributions have been instrumental to the growth and success of sports in Edo State,” he said.

He further commended Edo athletes for their dedication and discipline, noting that their consistent performances have continued to bring pride and recognition to the state at both national and international levels.

According to him, the Commission remains committed to athletes’ welfare, grassroots sports development, and the creation of opportunities that will enable talents to flourish.

Enabulele also called on residents of the state to celebrate responsibly and show compassion to one another, particularly the less privileged, emphasizing that unity and peaceful coexistence are vital for sustainable development.

He reaffirmed the Edo State Sports Commission’s resolve to strengthen collaboration with partners and stakeholders in the coming year, with increased focus on excellence, transparency, and inclusive sports development.

The Sports Commission boss concluded by wishing everyone a joyous Christmas celebration and a prosperous New Year filled with hope, good health, and greater achievements.

News

MOWAA: Okpehbolo Receives Edo Assembly Resolution Indicting Obaseki

Published

12 hours ago

December 24, 2025

Editor

Edo State Governor, Monday Okpebholo, received report and resolutions of the Edo State House of Assembly which indicted former Governor Godwin Obaseki on the Museum of West African Art (MOWAA) and the Radisson Hotel projects.

Recall that the Edo Assembly raised a five-man committee to investigate funding and ownership of both projects following a request by Governor Okpebholo.

Okpebholo, who spoke after receiving the report said its findings and recommendations would be fully implemented.

Okpebholo said the Economic and Financial Crimes Commission (EFCC) would be invited to further examine issues raised in the recommendations.

According to him, the Edo State Government has significant stakes in the MOWAA and Radisson Blu hotel having invested ₦3.8bn respectively in both projects.

He said changes in the structure and nomenclature of the MOWAA project made the investigation unavoidable.

Okpebholo said it was unacceptable to suggest Edo State has only 10 per cent stake in the Radisson Blu hotem despite investing over ₦28bn.

“Edo State has spent over ₦3.8 billion on this project, yet some people are saying the state has no stake in it. That is totally unacceptable. I will work with your recommendations and forward them to the relevant authorities to investigate what truly happened. We will also involve the EFCC.

“Our investment in this project is over ₦28 billion. We must invite the EFCC to step in and determine if this is how businesses are conducted in Nigeria,” he said.

In its recommendations passed by the Assembly, the five-man committee headed by Hon Addeh Isibor, urged the Edo State Government to take possession of both projects.

It asked Governor Okpebholo to contract competent hands to complete renovation of the Hotel and take all steps to put the Hotel to use.

The recommendations urged the Edo State Government to revoke “the fraudulent Certificate of Occupancy to the property issued in the name of Hospitality Investment and Management Company Limited and revert same to the Edo State Government that purchased the property.

“That the Edo State Government initiate legal action and work with relevant Anti-graft Agencies to retrieve both the complete statement of account and the balance of the Seventeen Billion, Five Hundred Million Naira (N17,500,000,000.00) Bond proceeds still in the possession of the Escrow Agents. Meristen Trustees Limited and Emerging Africa Trustees Limited.

“The title to the MOWAA Property having never been revoked, same remains the property of the Central Hospital, Benin City

“That the Edo State Government immediately takes all necessary step to put the property to good use in the best and overriding public interest of the people of Edo State.”

Speaker of the Assembly, Hon. Blessing Agbebaku, said the facts about MOWAA and Radisson Blu Hotel were now clearly documented in resolutions and outcomes.

News

Sheikh Gummi Sues Two Over Alleged False Facebook Publication

Published

14 hours ago

December 24, 2025

Editor

Prominent Islamic scholar, Sheikh Ahmad Gummi, has approached the Chief Magistrate Court in Kaduna, seeking the issuance of a criminal direct complainant summons against two Facebook users over alleged criminal conspiracy, attempt to cause public disturbance and criminal defamation.

The application, filed at the Chief Magistrate Court sitting on Ibrahim Taiwo Road, Kaduna, listed the defendants as George Udom and Bello Isiaka.

According to him, the defendants allegedly published a “Breaking News” statement on their respective Facebook pages on December 23, 2025, between 7:00 am and 10:00 am, attributed to him, threatening that the family of the Minister of Defence, General Christopher Musa, would be eliminated if military operations against bandits were not stopped.

Gummi alleged that the publication was falsely attributed to him, as his photograph was allegedly used alongside the statement, giving the impression that he issued the threat against the Defence Minister.

The Islamic scholar stated that following the publication, he received numerous phone calls from concerned members of the public who believed he authored the statement and was attempting to intimidate the Minister of Defence in the discharge of his official duties.

He further maintained that the publication portrayed him as a troublemaker and a threat to public peace, despite his long-standing reputation as a cleric known for preaching peace and harmony within and outside Nigeria.

The complainant argued that the alleged publication was capable of inciting public disorder in Kaduna State, particularly Southern Kaduna, and could expose him to danger by presenting him as a prime suspect in the event of any attack on the Defence Minister’s family.

He also contended that the actions of the defendants amounted to an attempt to cause public disturbance and criminal defamation of his character.

Dr Gummi told the court that the alleged acts contravened Sections 59, 57, 372, 116 and 117 of the Kaduna State Penal Code Law, 2017.

The application, dated December 24, 2025, was filed by a team of lawyers led by Suleiman Danlami Lere, with the complainant urging the court to summon the defendants to answer to the allegations.