The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal proceedings against the Nigerian National Petroleum Company Limited (NNPCL), demanding details of an alleged ₦5.9 billion spent during the transition of the former Nigerian National Petroleum Corporation (NNPC) into NNPCL.

According to the civil society organisation, questions remain over the expenditure reportedly incurred during the incorporation, restructuring, and rebranding process that followed the implementation of the Petroleum Industry Act (PIA) 2021.

In a suit filed before the Federal High Court in Abuja, SERAP is seeking a court order compelling NNPCL to disclose how the funds were spent and provide a full breakdown of the transactions involved. The group is also requesting information on the contractors engaged for the exercise and the specific services they rendered.

SERAP further wants the company to reveal the identities and official positions of government officials who approved the release of the funds, as well as evidence showing that the spending complied with procurement regulations and due process requirements.

The lawsuit, filed by a team of lawyers representing the organisation, follows concerns reportedly raised by the Senate Committee on Public Accounts regarding the expenditure. The committee was said to have questioned the size of the amount spent and called for greater scrutiny of the transactions.

The rights group argued that transparency is essential given the public nature of the funds involved. It maintained that Nigerians deserve access to information on how the money was authorised, disbursed, and utilised.

SERAP also contended that public disclosure would help determine whether the expenditure represented value for money and complied with existing legal and financial accountability standards.

The organisation linked the issue to broader concerns about transparency within NNPCL, stating that accountability over the reported spending is necessary to strengthen public confidence in the management of national resources.

As part of its legal arguments, SERAP cited provisions of the Nigerian Constitution and international anti-corruption agreements that promote openness and responsible management of public funds.

No hearing date has yet been announced for the case.