News
SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Financial Entries
By Rukevwe Odeh
The Socio-Economic Rights and Accountability Project (SERAP) has instituted legal action against the Nigerian National Petroleum Company Limited (NNPCL), demanding a full explanation of more than ₦211 trillion recorded in the company’s 2023 audited financial statements.
The lawsuit, filed before the Federal High Court in Abuja, seeks an order compelling NNPCL to release documents and detailed information relating to the financial entries described as “Sundry Receivables” and “Accrued Expenses.
According to SERAP, the audited report listed approximately ₦107.6 trillion under sundry receivables and another ₦103.4 trillion as accrued expenses without providing sufficient details to allow public scrutiny of the transactions.
The rights organisation wants the court to direct NNPCL to identify the debtors linked to the receivables, disclose the amounts owed, explain the legal basis for the debts, and provide updates on efforts to recover the funds. It also seeks a breakdown of the accrued expenses, including the identities of creditors and beneficiaries, the nature of the liabilities, and supporting records justifying the payments.
In addition, SERAP is asking the court to compel the state-owned oil company to release every document used in preparing and approving the disputed entries contained in its 2023 financial statements.
The organisation argued that Nigerians have a right to know how public resources are managed, stressing that transparency and accountability are essential in the administration of the country’s oil wealth. It maintained that access to the requested information would promote public oversight and strengthen confidence in the management of national resources.
The suit was filed by SERAP’s legal team, comprising Oluwakemi Agunbiade, Kehinde Oyewumi, Andrew Nwankwo and Maryam Mumuni. As of the time of filing, the Federal High Court had not fixed a date for hearing the matter.
By staff Reporter Rukevwe Odeh
Salvation Ministries is set to dedicate its newly completed global headquarters, the Hand of God Cathedral, in Port Harcourt, Rivers State, on Friday, November 6, 2026.
The dedication ceremony marks a significant milestone for the church, which is led by its founder and Presiding Pastor, David Ibiyeomie.
The new cathedral is expected to serve as the ministry’s global worship centre, providing a larger space for religious gatherings, spiritual activities and other church programmes.
The event is anticipated to attract worshippers, church leaders, ministers of the gospel and other Christian faithful from different parts of Nigeria and beyond.
By staff Reporter Rukevwe Odeh
The campaign convoy of former Vice-President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has reportedly been attacked by suspected hoodlums in Kebbi State, leaving several media equipment destroyed.
The incident reportedly occurred on Thursday, November 5, 2026, while the campaign team was moving through the state for political engagements ahead of the 2027 general elections.
According to the campaign team, the attackers allegedly blocked the convoy, pelted vehicles with stones and subsequently targeted journalists and members of the accompanying media crew.
By staff Reporter Rukevwe Odeh
The Lagos State Government has intensified efforts to address persistent electricity challenges by seeking increased private-sector investment and promoting cleaner energy alternatives to improve power supply across the state.
The Commissioner for Energy and Mineral Resources, Biodun Ogunleye, disclosed this on Thursday during a press conference ahead of the state’s forthcoming energy summit.
Ogunleye said the initiative was designed to translate discussions surrounding Lagos’ electricity challenges into practical solutions that would expand access to reliable power, strengthen energy infrastructure and stimulate economic growth.
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