The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), demanding accountability for substantial sums of oil revenue reportedly unaccounted for. The suit alleges that the company failed to provide explanations for the disappearance or diversion of ₦22.3 billion, $49.7 million, £14.3 million, and €5.2 million.

SERAP Deputy Director, Kolawole Oluwadare, disclosed in a statement on Sunday that the legal action follows serious findings highlighted in the 2022 audited report by the Auditor-General of the Federation, which was released on September 9, 2025. The suit was filed at the Federal High Court in Abuja last Friday.

The human rights and accountability organization is seeking a court order to compel NNPCL to fully account for the alleged missing funds. The group wants the court to direct the company to provide a detailed disclosure of all related financial transactions, including how the money was disbursed, the contractors or individuals who received the funds, and other pertinent financial records.

“The reported diversion of oil revenues reflects a broader failure in transparency and accountability at NNPCL,” SERAP said. “Granting the reliefs we seek would serve as a strong message against impunity and ensure that these funds are recovered for the benefit of Nigerians.”

According to the group, the unaccounted oil money has had wide-ranging economic consequences, limiting national development, perpetuating poverty, and depriving citizens of access to essential services. SERAP emphasized that the Auditor-General has repeatedly highlighted the disappearance of oil revenues in multiple reports over the years, yet adequate action has not been taken to resolve the issue.

“Addressing corruption in the oil sector is crucial not only for the recovery of missing funds but also for enhancing the government’s capacity to provide basic services and uphold human rights obligations,” the organization added.

The case signals continued public pressure on NNPCL to adhere to principles of transparency and fiscal accountability, as civil society groups call for systemic reforms in the management of Nigeria’s petroleum revenues.