The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against the Nigerian National Petroleum Company Limited (NNPCL), demanding explanations over an alleged ₦5.9 billion spent during the transition and rebranding of the former NNPC into NNPCL.
According to SERAP, the funds were reportedly used for incorporation, transition, and rebranding expenses, and the organisation wants the national oil company to publicly account for how the money was spent.
The lawsuit, filed at the Federal High Court in Abuja, is seeking a court order compelling NNPCL to provide a detailed breakdown of the expenditure, including the identities of contractors involved, the services rendered, and the officials who approved the payments.
SERAP also wants NNPCL to disclose whether the spending complied with procurement laws and due process requirements.
The organisation noted that the Senate Committee on Public Accounts had previously questioned the expenditure, reportedly describing the amount as excessive and deserving of further investigation.
According to SERAP, Nigerians have a right to know how public funds were utilised and whether the rebranding process delivered value for money.
The group argued that transparency and accountability are essential, especially given the size of the expenditure and the public nature of the institution involved.
The legal action comes amid growing calls for greater openness in the management of public resources and government-owned enterprises.
No date has been fixed for the hearing of the case.
Source: Adapted from a statement by SERAP
