Socio-Economic Rights and Accountability Project (SERAP) has sued the Nigerian National Petroleum Company Limited (NNPCL) at the Federal High Court in Abuja, over failure to account for approximately N5.9 billion reportedly spent on the incorporation, transition, and rebranding from NNPC into NNPCL.

Recall that the NNPC reportedly paid N2.9 billion for incorporation expenses from petroleum product proceeds, while the National Petroleum Investment Management Services (NAPIMS) also charged N2.9 billion to crude oil revenue for the same purpose, bringing the total amount spent on the rebranding of NNPC to NNPCL to N5.9 billion.

SERAP, in the suit number FHC/ABJ/CS/1248/2026, filed at the weekend, is seeking an order of mandamus to direct and compel the NNPCL to account for the about N5.9 billion allegedly spent on the rebranding.

The body is asking the court to direct and compel the NNPCL to provide a comprehensive reconciliation statement detailing the specific financial transactions relating to the N5.9 billion expenditure, including the identities of the contractors involved, and how the funds were utilised for the rebranding of NNPC to NNPCL.

It is, among others, also asking the court to direct and compel the NNPCL to disclose the names and official positions of the government officials who authorised and approved the release and expenditure of the amount, and to clarify whether the expenditure complied with applicable procurement laws and due-process requirements.

The suit was filed on behalf of SERAP by its lawyers, Oluwakemi Agunbiade, Kehinde Oyewumi, and Andrew Nwankwo.

No date has been fixed for the hearing of the suit.