Nigeria: Serap Sues Nnpcl Over Alleged N5.8bn Rebranding Expenses
SERAP says the spending may breach transparency rules and wants NNPCL to name contractors and officials involved in the rebranding process.
- The Socio-Economic Rights and Accountability Project filed a lawsuit last week at the Federal High Court in Abuja, seeking a court order to compel the Nigerian National Petroleum Company Limited to account for ₦5.9 billion allegedly spent on rebranding.
- Records indicate the Nigerian National Petroleum Corporation paid ₦2.9 billion for incorporation expenses, while the National Petroleum Investment Management Services charged ₦2.9 billion to crude oil revenue during the 2021 transition mandated by the Petroleum Industry Act .
- The Senate Committee on Public Accounts previously described the expenditure as 'excessive' and 'unjustifiable,' while lawyers Oluwakemi Agunbiade, Kehinde Oyewumi, and Andrew Nwankwo argue the spending violates the Nigerian Constitution 1999 and national anticorruption laws.
- SERAP lawyers stated, "The alleged spending of the ₦5.9 billion suggests a grave violation of the public trust and the provisions of the Nigerian Constitution 1999." The group demands disclosure of officials who authorized the expenditure.
- No hearing date has been fixed for the suit. SERAP cites Articles 5 and 9 of the UN Convention against Corruption, which require Nigeria to ensure transparency and proper management of public funds as international obligations.
18 Articles
18 Articles
Nigeria: Serap Sues Nnpcl Over Alleged N5.8bn Rebranding Expenses
The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Nigerian National Petroleum Company Limited (NNPCL) to court for allegedly failing to account for about N5.8 billion spent on the incorporation, transition and rebranding of the former Nigerian National Petroleum Corporation (NNPC) into NNPCL.
SERAP sues NNPCL over alleged ₦5.9bn rebranding expenditure
The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Nigerian National Petroleum Company Limited (NNPCL) to court over its alleged failure to account for approximately ₦5.9 billion reportedly spent on the incorporation, transition and rebranding of the Nigerian National
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SERAP sues NNPCL over ‘failure to account for ₦5.9 billion rebranding cost’
SERAP is asking the court to “direct and compel the NNPCL to provide a comprehensive reconciliation statement detailing the specific financial transactions relating to the ₦5.9 billion expenditure..."
SERAP drags NNPCL to court over alleged N5.9bn rebranding expenditure, demands full disclosure
The Socio-Economic Rights and Accountability Project (SERAP) has instituted legal action against the Nigerian National Petroleum Company Limited (NNPCL), seeking judicial intervention to compel the oil company to account for an estimated ₦5.9 billion reportedly spent on the incorporation, transition, and rebranding of the former Nigerian National Petroleum Corporation (NNPC) into NNPCL. The lawsuit, filed at the Federal High Court in Abuja under…
SERAP Sues NNPCL Over ₦5.9b Rebranding Cost
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) “over its failure to account for approximately ₦5.9 billion reportedly spent on the incorporation, transition, and rebranding of NNPC into NNPCL.”The NNPC reportedly paid N2.9 billion for incorporation expenses from petroleum product proceeds, while the National Petroleum Investment Management Services …
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