Abuja, April 28, 2024 – The Socio-Economic Rights and Accountability Project (SERAP) has sued the Nigerian National Petroleum Company (NNPC) over its failure to account for alleged missing USD$2.04 billion and N164 billion oil revenues.
It said the allegations were published 2020 audited report by the Auditor General of the Federation which reported that NNPC failed to remit the money into the Federation Account
Kolawole Oluwadare, SERAP Deputy Director, disclosed this in a statement on Sunday.
The suit number FHC/ABJ/CS/549/2024, filed last Friday at the Federal High Court in Abuja, is seeking the following reliefs:
“An order of mandamus to direct and compel the NNPC to account for and explain the whereabouts of the missing USD$2.04 billion and N164 billion oil revenues, as documented in report by the Auditor-General.
“An order of mandamus to compel the NNPC to hand over suspected perpetrators to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution.
“An order of mandamus to compel the NNPC to ensure the full recovery and remittance of the missing USD$2.04 billion and N164 billion into the Federation Account.
SERAP is arguing that: “There is a legitimate public interest in providing the details sought. The NNPC has a legal responsibility to account for and explain the whereabouts of the disappeared money.
“The missing oil revenues have further damaged the already precarious economy in the country and contributed to high levels of deficit spending by the government.
“Without the full recovery and remittance of the missing USD$2.04 billion and N164 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.
“The Auditor-General has for many years documented reports of disappearance of public funds from the NNPC. Nigerians continue to bear the brunt of these missing oil revenue,“ it said. (GBN)
