Channels TV· 1h ago· 1 min read
The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Nigerian National Petroleum Company Limited (NNPCL) before a Federal High Court in Abuja over what it described as the company’s failure to adequately explain and account for more than ₦211 trillion recorded in its 2023 audited financial statements.
According to SERAP, the sum of ₦211.015 trillion was listed under “Sundry Receivables” and “Accrued Expenses” in NNPCL’s audited accounts without sufficient details to enable public scrutiny of the transactions.
In the suit marked FHC/ABJ/CS/1427/2026 and filed last week, the advocacy group is seeking an order compelling NNPCL to account for the funds and disclose all documents relating to the entries contained in its 2023 financial statements.
SERAP is asking the court to direct the oil company to provide a detailed…
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