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SERAP Sues NNPC over Alleged Missing ₦500Bn, Seeks Accountability

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Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over its failure to account for the alleged missing ₦500 billion, which the company reportedly failed to remit to the Federation Account between October and December 2024.

SERAP Sues NNPC over Alleged Missing ₦500Bn, Seeks Accountability

SERAP’s legal action comes after allegations made by the World Bank, which revealed that out of the ₦1.1 trillion generated from crude sales and other income sources in 2024, NNPC only remitted ₦600 billion.

This left a deficit of ₦500 billion, which remains unaccounted for.

According to the lawsuit filed at the Federal High Court in Lagos on Friday, the organisation is demanding that NNPC explain the whereabouts of this missing amount.

The suit, number FHC/L/MSC/553/2025, seeks to compel NNPC to account for the missing funds.

In the legal documents, SERAP is asking for an order of mandamus to direct NNPC to account for the alleged missing ₦500 billion.

The organisation also wants the court to instruct NNPC to invite appropriate anti-corruption agencies to investigate the spending and whereabouts of the funds.

Furthermore, SERAP requests that those responsible for the missing money be identified, held accountable, and handed to relevant authorities for investigation and prosecution.

The lawsuit follows NNPC’s response to SERAP’s Freedom of Information (FoI) request, where the company argued that the FoI Act does not apply to it.

NNPC’s lawyers, Afe Babalola and Co, claimed that the company is exempt from the FoI Act.

SERAP, however, argues that the NNPC must comply with the Nigerian Constitution and the Freedom of Information Act, along with international human rights and anti-corruption standards, in exercising its statutory functions.

In the suit, SERAP emphasizes that the missing funds have significantly contributed to Nigeria’s economic instability, including the country’s high deficit spending and crippling debt crisis.

The organisation argues that the NNPC’s failure to remit these funds has worsened an already precarious economic situation.

SERAP also stresses that the missing oil revenues reflect a broader failure in NNPC’s accountability and transparency. The organisation highlights that the company’s continuing disregard for these principles damages the country’s economic well-being and governance systems.

The lawsuit also references a recent Supreme Court ruling, which declared that the Freedom of Information Act applies to public records in the Federation, including those kept by NNPC. SERAP calls on the court to enforce the application of this ruling in the case at hand.

The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Ms Oluwakemi Oni, and Ms Valentina Adegoke, read in part, “Nigerians continue to bear the brunt of these missing public funds from the NNPCL meant for the economic development of the country.”

“There is a legitimate public interest in providing the details sought. The NNPC has a legal responsibility to account for and explain the whereabouts of the missing oil money.”

“The country’s oil wealth ought to be used solely for the benefit of the Nigerian people, and for the sake of the present and future generations.”

“Without the full recovery and remittance of the missing ₦500 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.”

“Nigerians have the right to know why the NNPCL failed to remit the subsidy removal savings to the Federation Account, and why the NNPCL is deliberately denying states and local governments their allocations from the Account, contrary to the provisions of the Nigerian Constitution.”

“The failure by the NNPCL to remit the money to the Federation Account is a grave violation of the public trust and the provisions of the Nigerian Constitution, national anticorruption laws, and the country’s anticorruption obligations.”

“Despite the country’s enormous oil wealth, ordinary Nigerians have derived minimal benefit from oil money primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators.”

“Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”

“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding the spending of their commonwealth.”

 

“The Auditor-General of the Federation and Nigeria Extractive Industries Transparency Initiative (NEITI) have for many years documented reports of disappearance of oil money from the NNPCL.”

“The World Bank recently disclosed that out of the N1.1tn revenue from crude sales and other income in 2024, the NNPCL only remitted N600bn, leaving a deficit of ₦500bn unaccounted for.”

“The revenue and other income were expected to be paid into the Federation Account and shared by all levels of government but the NNPCL reportedly failed to do so.”

“SERAP notes that Section 15(5) of the Nigerian Constitution requires public institutions to abolish all corrupt practices and abuse of power.”

“Section 13 of the Nigerian Constitution imposes clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the Constitution.”

“Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the NNPCL to ensure proper management of public affairs and public funds.”

“These commitments ought to be fully upheld and respected.”

“The missing oil revenue has also impeded Nigerians’ ability to enjoy their economic and social rights, and denied them access to essential public goods and services, especially at the time of the cost of living crisis in the country.”

“Had the NNPCL accounted for and remitted the alleged missing ₦500 billion to the Federation Account, it is likely that more funds would have been allocated to the fulfilment of economic and social rights, such as increased spending on public goods and services.”

“The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information on the whereabouts of the missing ₦500 billion of oil revenue.”

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


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Ebere Melum-Nwogbo is a trained and practicing journalist. She is passionate about ICT and business journalism. She has over a decade experience spanning money and capital market as well as information technology

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Kano Implements Software Payroll System to Eliminate Leakages

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Kano State Government is poised to revolutionise payroll management in its 44 local councils with the imminent launch of a cutting-edge Staff and Payroll Software.

This innovative system is designed to tackle longstanding inefficiencies and sanitise salary operations, ensuring a more transparent and accountable governance framework.

The Commissioner for Local Government and Chieftaincy Affairs, Alhaji Mohammed Tajo Othman, disclosed this at the closing of a 4-day Capacity Building Training Session aimed at equipping relevant personnel from SPHCMB, SUBEB, and the Ministry for Local Government on the new Human Resource and Payroll software.

The training was designed to equip participants with the necessary skills to maximise the system’s benefits.

By integrating biometric data and streamlining payroll management, the initiative aims to eliminate ghost workers, ensure timely payments, and enhance accountability across the 44 local councils.

The Commissioner emphasized that the new software underscores the administration’s commitment to harnessing technology for good governance and citizen welfare.

The new system also enhance transparency, accuracy, and efficiency, the system is poised to significantly improve the overall quality of service delivery in the LGAs.

The Commissioner further disclosed that the new payroll system is designed to automatically notify civil servants of their retirement three months prior to the date, ensuring a seamless transition.

Moreover, the Ministry will engage retirees in entrepreneurship skill training programs, equipping them with the necessary skills to become self-reliant and thrive in their post-retirement lives.

The Commissioner urged the participants to pay adequate attention and familiarise themselves with the new system, emphasizing the importance of computer literacy in ensuring the successful implementation of the project.

He expressed confidence that the carefully selected participants would ensure sustainability and maximise the benefits of the training.


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Preventive, Silicon Valley Firm May Birth Genetically Engineered Babies

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Preventive, a Silicon Valley startup backed by OpenAI’s Sam Altman and Coinbase’s Brian Armstrong is pursuing research that some fear could lead to the birth of a genetically engineered baby — a step that’s illegal under US law and banned in most countries, a report said.

Preventive, Silicon Valley Firm May Birth Genetically Engineered Babies

The company, said its goal is to end hereditary disease by editing human embryos before birth, a claim that has ignited fierce debate over safety, ethics and the specter of designer children, according to the Wall Street Journal.

Preventive, founded earlier this year by Lucas Harrington, gene-editing scientist, has raised $30 million and set up headquarters in San Francisco, where it is conducting research on modifying embryos to prevent hereditary disease.

The company says its mission is to prove the technology can be made safe and transparent before any attempt to create a baby is made.

Altman and Armstrong are among the firm’s early investors, the Wall Street Journal reported.

Oliver Mulherin, Altman’s husband, said he led their investment, calling it an effort to help families avoid genetic illness.

Armstrong, who has publicly promoted embryo editing, posted that he was “excited” to back Preventive and argued it is far easier to correct a genetic defect in an embryo than to treat disease later in life.

But federal law prohibits the Food and Drug Administration from considering applications for human trials involving genetically edited embryos used to start pregnancies.

Harrington, who earned his doctorate under CRISPR pioneer Jennifer Doudna, denied that Preventive is preparing to implant an edited embryo or working with a couple to do so.

He said the company’s focus is preclinical research on whether editing embryos can be done safely.

“We are not trying to rush things,” Harrington told the Journal.

“We are committed to transparency in our research and will publish our findings, whether positive or negative.”

People familiar with Preventive’s operations told the Journal that the company had explored foreign jurisdictions, including the United Arab Emirates, where embryo editing might be permitted.

Harrington said work outside the US was being considered only because of regulatory restrictions, not to evade oversight.

The company has recruited advisers from reproductive medicine and genetics.

Preventive’s website describes it as a public-benefit corporation, meaning it can legally prioritize social good alongside profit.

Preventive, said its goal is to end hereditary disease by editing human embryos before birth.

Its charter defines that purpose as the “responsible advancement of genome editing technologies applied before birth to benefit humanity.”

The effort echoes the 2018 scandal in which He Jiankui, Chinese scientist,  created the world’s first gene-edited babies, twins whose embryos had been altered to resist HIV.

He served three years in prison for illegal medical practices.

Scientists say it remains unclear how the edits affected the children, who have not been publicly identified.

 


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Senate Denies $10m Bribe to Obstruct Confirmation of NERC Nominee

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The Senate on Friday night halted the confirmation of Mr Abdullah Garba Ramat, as chief executive, Nigerian Electricity Regulation Commission (NERC), following allegations that the leadership of the 10th Senate, took a bribe of $10 million bribe.

Senate Denies $10m Bribe to Obstruct Confirmation of NERC Nominee

The allegation came from Alwan Hassan, former special adviser to former Vice President, Yemi Osibanjo.

Hassan, had alleged  that the leadership of the 10th Senate, took a bribe of $10 million to stop the confirmation of the nominee as  chairman of NERC.

But  Senator Yemi Adaramodu, spokesman of the Senate, in a statement dismissed the allegation as unfounded.

Adaramodu said the stance of the Red Chamber to step down the screening and confirmation of Ramat, for the office of Chairman of NERC,was informed by what he called “a baggage of public and private complaints against his nomination.”

He recalled instances when  “many nominees have been stepped down due to such public outcry,” and urged the public not to be persuaded by the allegations of bribery.

The Senate further vowed to sue Hassan, to provide Nigerians with the proof of his allegations.

The statement reads in part: “The attention of the Senate has been drawn to the uncoordinated cacophony of one innocuous Alwan Hassan, who is a hand-tool to one Mr Abdullah Garba Ramat.

“Refreshing the memories of Nigerians, Mr. Ramat is the yet to be confirmed Chief Executive of the Nigerian Electricity Regulation Commission.

“Mr Alwan has ludicrously alleged that the Senate was compromised by yet to be disclosed ghosts to reject the nomination and confirmation of Mr Ramat.

“For the unsuspecting public not to be persuaded by the satanic verses of this political feckless mercenary, the Senate wishes to state that Mr Garba Ramat has a baggage of public and private complaints against his nomination. The Senate is bound statutorily to halt actions on him or on whoever is under such public questioning. Many nominees have been stepped down due to such public outcry.

“The case of Mr Ramat is not an exemption. No-one can drag the institution of the National Assembly into public opprobrium with unfathomable allegations, in order to arm twist the legislature.

” Nigerians would like to have appointees who go through watertight screening processes, rather than those who bully their ways through blackmail.

” The Senate would definitely engage Mr Alwan at the court, to provide Nigerians with the proof of his assertions.

“The Senate is an institution of noble Nigerians, that respect the views, opinions, complaints and compliments of the citizens through Legislative oversight and other constitutional functions.

‘We don’t know and had no prior encounter with Mr Ramat, until his nomination came for screening and the Senate is bound to listen and consider any issues raised against him by the people, who he was nominated to serve.”

 

 

 

 

 

 


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