A lawsuit has been filed against the Nigerian National Petroleum Company Limited (NNPCL) over its alleged failure to properly account for billions of naira and millions in foreign currency reportedly missing from oil revenues.
The legal action, instituted at the Federal High Court in Abuja, follows allegations contained in the 2022 audited report of the Auditor-General of the Federation, published on September 9, 2025. The report raised concerns over unaccounted sums totaling ₦22.3 billion, alongside USD 49.7 million, £14.3 million, and €5.2 million.
According to court documents, the suit marked FHC/ABJ/CS/195/2026 was filed last Friday and seeks an order of mandamus compelling the NNPCL to provide a detailed account of the alleged missing or diverted funds. The plaintiffs are asking the court to direct the company to explain how the monies were handled and to disclose all related financial transactions.
The suit also requests that NNPCL publish comprehensive details of disbursements linked to the funds, including the names of contractors, beneficiaries, and other individuals or entities involved in collecting or managing the money.
The plaintiffs argue that the alleged diversion of oil revenues points to deeper accountability and transparency challenges within the national oil company. They contend that such lapses have contributed to Nigeria’s prolonged economic struggles, limiting development and worsening poverty levels across the country.
The Auditor-General’s reports, they noted, have for several years highlighted recurring cases of missing oil revenues within the NNPCL, raising persistent concerns about financial oversight in the sector.
They further stressed that ordinary Nigerians continue to suffer the consequences of unaccounted oil income that should have been channeled into essential public services. Despite Nigeria’s vast oil resources, the suit argues that widespread corruption and a culture of impunity have prevented citizens from enjoying the benefits of the country’s natural wealth.