According to SERAP, the sum in question comprises ₦2.9 billion reportedly spent on incorporation-related expenses from petroleum product proceeds and another ₦2.9 billion allegedly charged by the National Petroleum Investment Management Services (NAPIMS) to crude oil revenue for the same exercise.
In the suit, the organisation is asking the court to compel the oil company to explain how the funds were utilised.
Specifically, SERAP is 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.”
The group is also requesting 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, including the identities of the contractors involved, and how the funds were utilised for the rebranding of NNPC to NNPCL.”
In addition, SERAP wants 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.”
The case, marked FHC/ABJ/CS/1248/2026, was filed at the Federal High Court in Abuja, according to a statement issued on Sunday by SERAP’s Deputy Director, Kolawole Oluwadare.
The lawsuit was filed by the organisation’s legal team comprising Oluwakemi Agunbiade, Kehinde Oyewumi and Andrew Nwankwo.
SERAP noted that the Senate Committee on Public Accounts had reportedly expressed concerns about the expenditure classified as incorporation and transition costs during the conversion of NNPC into NNPCL.
“The Committee described the spending of the ₦5.9 billion as excessive, unjustifiable, and deserving of further explanation, investigation, and legislative scrutiny in the public interest,” SERAP noted.
The organisation argued that the public deserves a full explanation regarding the expenditure and those responsible for approving it.
“The NNPCL has a legal responsibility to explain whether the ₦5.9 billion expenditure represents value for money, constitutes lawful spending of public funds, and complies with applicable 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,” it said.
SERAP further maintained that the amount involved warrants public scrutiny, adding that there is “an urgent need for a prompt, thorough, and transparent disclosure of the details surrounding the spending of the funds.”
The group also argued that “the failure to account for the spending of the ₦5.9 billion on rebranding from NNPC to NNPCL reflects a failure of NNPCL accountability more generally and is directly linked to the institution’s continuing failure to uphold transparency and accountability principles.”
SERAP recalled that the transformation of NNPC into NNPCL was carried out under the provisions of the Petroleum Industry Act (PIA) 2021, which required the national oil company to operate as a commercially driven limited liability company wholly owned by the Federal Government.
To support its position, the organisation cited Sections 13 and 15(5) of the Nigerian Constitution, as well as Articles 5 and 9 of the United Nations Convention against Corruption and Article 21 of the African Charter on Human and Peoples’ Rights.
No hearing date has been scheduled for the case.