The Socio-Economic Rights and Accountability Project (SERAP) files a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) over what it describes as a failure to properly explain and account for ₦211 trillion shown in NNPCL’s 2023 audited financial statements. SERAP alleges that the amount—reported as ₦211,015,245,000,000—is recorded under line items described as “Sundry Receivables” and “Accrued Expenses.”
In its action, SERAP seeks accountability regarding the basis for these figures and how the oil-related funds are handled or substantiated. The complaint centers on SERAP’s position that the presentation of the funds in the audited accounts does not adequately provide the required explanations to the public.
Both outlets report that SERAP is the party initiating the legal step and that the target of the suit is NNPCL, with the disputed figure tied to NNPCL’s 2023 audited accounts and specific accounting classifications. The reports do not indicate the outcome of the case or any response from NNPCL at the time of publication.
