The Socio-Economic Rights and Accountability Project (SERAP) has petitioned a Federal High Court in Abuja to demand accountability from the Nigerian National Petroleum Company (NNPC) Limited regarding purportedly missing oil revenues totaling $2.04 billion and N164 billion,leadership reports.
In suit number FHC/ABJ/CS/549/2024, yet to be assigned to a judge, SERAP seeks a mandamus order to compel NNPC Limited to elucidate the whereabouts of the unaccounted oil revenues, as detailed in an Auditor-General’s report.
Additionally, the civil society organization requests a mandamus order directing NNPC to surrender alleged perpetrators to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution.
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SERAP also demands a mandamus order for NNPC to ensure the complete recovery and remittance of the missing revenue into the Federation Account.
In an affidavit accompanying the suit, SERAP contends that there is substantial public interest in disclosing the requested details, given NNPC’s legal obligation to account for and clarify the disappearance of the funds.
The plaintiff argues that Section 15(5) of the Nigerian Constitution 1999 (as amended) mandates public institutions to eradicate corrupt practices and misuse of power.
Furthermore, Section 16(2) of the Constitution underscores the duty to utilize national resources for the common good.
SERAP emphasizes NNPC’s obligation under Section 13 of the 1999 Constitution to adhere to Chapter 2 provisions.
Citing paragraph 3112(ii) of the Financial Regulations 2009, SERAP asserts that failure to account for government revenue warrants surcharge and referral to EFCC or ICPC.
Moreover, Nigeria’s commitment to the UN Convention against Corruption, as evidenced by Articles 5 and 9, obliges NNPC to responsibly manage public resources.
SERAP contends that the missing oil revenues exacerbate the nation’s economic fragility, leading to excessive government spending and depriving citizens of essential services.
Without recovering the missing funds, the organization warns of worsening economic conditions and continued deprivation of public goods and services for Nigerians.
