SERAP Drags Tinubu to Court Over Failure To Probe Missing $15bn, N200bn Oil Revenues
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu over his alleged failure to probe the missing and unaccounted-for oil revenues worth over US$15 billion and N200 billion in Nigeria.
The lawsuit, filed at the Federal High Court in Lagos last Friday, is based on the 2021 report by the Nigeria Extractive Industries Transparency Initiative (NEITI), which revealed the grim allegations of corruption and mismanagement in the oil sector.
According to the suit, SERAP is seeking an order of mandamus to direct and compel President Tinubu to investigate the allegations that US$15 billion of oil revenue, and N200 billion budgeted to repair and maintain the refineries in Nigeria are missing and unaccounted for between 2020 and 2021.
SERAP is also seeking an order of mandamus to compel President Tinubu to direct appropriate anti-corruption agencies to probe allegations of corruption involving the Nigerian Petroleum Development Company Limited, Nigerian Upstream Petroleum Regulatory Commission (NPDC) and State Owned Enterprises (SOE).
The organization also seeks an order of mandamus to compel President Tinubu to use any recovered proceeds of corruption to enhance the well-being of Nigerians.
In the suit, SERAP argues that there is a legitimate public interest in ensuring justice and accountability for these serious allegations, which undermine the economic development of the country, trap the majority of Nigerians in poverty and deprive them of opportunities.
It also argues that the allegations of corruption documented by NEITI violate the provisions of the Nigerian Constitution, national anti-corruption laws, and the country’s obligations under the UN Convention against Corruption.
It said, “Unless the President is directed and compelled to get to the bottom of these damning revelations, suspected perpetrators would continue to enjoy impunity for their crimes and enjoy the fruits of their crimes.
“Many years of allegations of corruption and mismanagement in the spending of oil revenues and impunity of perpetrators have undermined public trust and confidence in governments at all levels.
“The findings by NEITI suggest a grave violation of the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s obligations under the UN Convention against Corruption.”
The suit was filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Andrew Nwankwo, and Ms Valentina Adegoke.
However, no date has been fixed for the hearing of the suit.
