Socio-Economic Rights and Accountability Project (SERAP) has urged a Federal High Court in Abuja to order the Nigerian National Petroleum Company (NNPC) Limited to account for the alleged missing $2.04 billion and N164 billion oil revenues.
In the suit number FHC/ABJ/CS/549/2024, which is yet to be assigned to a judge, SERAP is seeking an order of mandamus to direct and compel the NNPCL to account for and explain the whereabouts of the missing oil revenues, as documented in a report by the Auditor-General.
The civil society organisation is also asking the court for an order of mandamus to compel the defendant 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.
The plaintiff is seeking an order of mandamus to compel the NNPC to ensure the full recovery and remittance of the missing revenue into the federation account.
In an affidavit attached to the suit, SERAP averred that there is a legitimate public interest in providing the details sought because the NNPCL has a legal responsibility to account for and explain the whereabouts of the disappeared money.
The plaintiff argued that Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions to abolish all corrupt practices and abuse of power.
It also submitted that section 16(2) of the Constitution further provides that the material resources of the nation are harnessed and distributed as best as possible to serve the common good.
SERAP also insisted that section 13 of the 1999 Constitution imposes a clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the constitution.
It argued that paragraph 3112(ii) of the Financial Regulations 2009 provides that, “Where a public officer fails to account for government revenue, such officer shall be surcharged for the total amount involved and such officer shall be handed over to either the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and Other Related Offences Commission (ICPC).”
The plaintiff further stated that 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.
The organisation, therefore, called on the court to compel the defendant to uphold and respect these commitments.
SERAP also maintained that the missing oil revenues have further damaged the already precarious economy in the country and contributed to high levels of deficit spending by the government.
The plaintiff also argues that without 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.