BREAKING: We’ve filed a lawsuit against
@nnpclimited 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 (NAPIMS) also charged N2.9 billion to crude oil revenue for the same purpose, bringing the total amount spent on the rebranding of NNPC to NNPCL to ₦5.9 billion.
In the suit number FHC/ABJ/CS/1248/2026, filed last week at the Federal High Court in Abuja, we are seeking an order of mandamus to direct and compel the NNPCL to account for about ₦5.9 billion allegedly spent on the rebranding of the NNPC to the NNPCL.
We are asking the court to direct and compel
@nnpclimited to provide a comprehensive reconciliation statement detailing the specific financial transactions relating to the ₦5.9 billion expenditure, including the identities of the contractors involved, and how the funds were utilized for the rebranding of NNPC to NNPCL.
We are also asking the court to direct and compel the NNPCL to disclose the names and official positions of the government officials who authorized and approved the release and expenditure of the ₦5.9 billion reportedly spent on the rebranding of NNPC to NNPCL, and to clarify whether the expenditure complied with applicable procurement laws and due-process requirements.
There ought to be full transparency and accountability regarding the reported ₦5.9 billion spent on rebranding NNPC to NNPCL. Nigerians have the right to know who approved the expenditure, who received the funds, the nature of the services rendered, and whether due process and procurement requirements were strictly followed.
The disclosure of the identities of the officials involved and the processes followed in approving the expenditure would enable the public to assess whether the expenditure was properly authorized, represented value for money, and was undertaken in accordance with due process and procurement requirements.
Given the size of the reported expenditure and the importance of transparency in the management of public resources within the petroleum sector, there is an urgent need for a prompt, thorough, and transparent disclosure of the details surrounding the spending of the funds.
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