SERAP noted that 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 N5.9 billion.
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 N5.9 billion reportedly spent on the incorporation, transition, and rebranding of NNPC into NNPCL."
SERAP noted that 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 N5.9 billion.
In suit number FHC/ABJ/CS/1248/2026, filed last week at the Federal High Court in Abuja, SERAP is seeking an order of mandamus compelling the NNPCL to account for approximately N5.9 billion allegedly spent on rebranding the NNPC to NNPCL.
