SERAP Sues NNPC Over Missing ₦500bn Oil Money: “Account for 2024 Shortfall Now!
Transparency watchdog SERAP has filed a high-stakes lawsuit against NNPC Limited, demanding accountability for ₦500 billion in missing oil revenues from late 2024. The move follows explosive World Bank reports showing NNPC remitted only ₦600bn of ₦1.1tn earned October-December 2024. ⚖️ Lawsuit Breakdown In *Suit No: FHC/L/MSC/553/2025* (Lagos Federal High Court), SERAP seeks: Court Order: Force NNPC to disclose whereabouts of unremitted ₦500bn Corruption Probe: Invite anti-graft agencies to investigate/recover funds Prosecutions: Identify and punish responsible officials Immediate Remittance: Return funds to Federation Account NNPC’s Controversial Defense: "FOI Act doesn’t apply to us" – Afe Babalola & Co (NNPC’s lawyers) SERAP’s Counterargument: "Supreme Court already ruled FOI Act covers ALL public records – including NNPC’s." 💰 Why This Matters SERAP argues this missing money: 📉 Worsens Nigeria’s debt crisis and deficit spending 🚫 Denies states/local governments critical allocations 🏥 Deprives citizens of essential services amid cost-of-living crisis ⚖️ Violates Constitution (Sections 13 & 15) and UN Anti-Corruption […]