{"id":29307,"date":"2024-04-28T09:01:06","date_gmt":"2024-04-28T09:01:06","guid":{"rendered":"https:\/\/nigerdeltanews.ng\/serap-sues-nnpcl-over-failure-to-account-for-missing-2-04bn-n164bn-oil-revenues\/"},"modified":"2024-04-28T09:01:06","modified_gmt":"2024-04-28T09:01:06","slug":"serap-sues-nnpcl-over-failure-to-account-for-missing-2-04bn-n164bn-oil-revenues","status":"publish","type":"post","link":"https:\/\/nigerdeltanews.ng\/serap-sues-nnpcl-over-failure-to-account-for-missing-2-04bn-n164bn-oil-revenues\/","title":{"rendered":"SERAP sues NNPCL over failure to account for \u2018missing $2.04bn, N164bn oil revenues\u2019"},"content":{"rendered":"
\n

Socio-Economic Rights and Accountability Project, SERAP, has sued the Nigerian National Petroleum Company, NNPC Limited, over the \u201cfailure to account for and explain the whereabouts of the alleged missing USD$2.04 billion and N164 billion oil revenues.\u201d<\/p>\n

This is amid the allegations documented in the recently published 2020 audited report by the Auditor General of the Federation that the NNPC failed to remit the money into the Federation Account, saying that it may have been diverted.<\/p>\n

In the suit number FHC\/ABJ\/CS\/549\/2024 filed last Friday at the Federal High Court in Abuja, SERAP is demanding: \u201can order of mandamus to direct and compel the NNPC to account for and explain the whereabouts of the missing USD$2.04 billion and N164 billion oil revenues, as documented in a report by the Auditor-General.\u201d<\/p>\n

It is asking for: \u201can order of mandamus to compel the NNPC to hand over suspected perpetrators to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution.\u201d<\/p>\n

The group is also seeking: \u201can order of mandamus to compel the NNPC to ensure the full recovery and remittance of the missing USD$2.04 billion and N164 billion into the Federation Account.\u201d<\/p>\n

In the suit, SERAP is arguing that \u201cThere 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 disappeared money.\u201d<\/p>\n

\u201cThe missing oil revenues have further damaged the already precarious economy in the country and contributed to high levels of deficit spending by the government.\u201d<\/p>\n

SERAP is also arguing that \u201cWithout the full recovery and remittance of the missing USD$2.04 billion and N164 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.\u201d<\/p>\n

According to it, \u201cthe Auditor-General has for many years documented reports of disappearance of public funds from the NNPC. Nigerians continue to bear the brunt of these missing oil revenues.\u201d<\/p>\n

The suit filed on behalf of the group by its lawyers, Kolawole Oluwadare and Kehinde Oyewumi, read in part: \u201cThe alleged missing oil revenues reflect a failure of NNPCL accountability more generally and are directly linked to the institution\u2019s continuing failure to uphold the principles of transparency and accountability.\u201d<\/p>\n

\u201cThe failure by the NNPC to account for and explain the whereabouts of the disappeared money is a grave violation of the provisions of the Nigerian Constitution 1999 [as amended], the Freedom of Information Act, national anti-corruption laws, and the country\u2019s obligations under the UN Convention against Corruption.\u201d<\/p>\n

No date has been fixed for the hearing of the suit.<\/p>\n

SERAP sues NNPCL over failure to account for \u2018missing $2.04bn, N164bn oil revenues\u2019<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Socio-Economic Rights and Accountability Project, SERAP, has sued the Nigerian National Petroleum Company, NNPC Limited, over the \u201cfailure to account…<\/p>\n","protected":false},"author":1,"featured_media":29308,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,908,4666],"tags":[180,911,4668],"class_list":["post-29307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-nnpcl","category-serap","tag-news","tag-nnpcl","tag-serap"],"yoast_head":"\nSERAP sues NNPCL over failure to account for \u2018missing $2.04bn, N164bn oil revenues\u2019 - Niger Delta News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nigerdeltanews.ng\/serap-sues-nnpcl-over-failure-to-account-for-missing-2-04bn-n164bn-oil-revenues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SERAP sues NNPCL over failure to account for \u2018missing $2.04bn, N164bn oil revenues\u2019 - 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