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
A group of stakeholders in Warri has announced its decision to withdraw support for the incumbent member representing the Warri Federal Constituency in the House of Representatives, Hon. Thomas Ereyitomi, ahead of the 2027 general elections.
The group, while explaining its position, cited what it described as dissatisfaction with the lawmaker’s performance and representation of the constituency.
The stakeholders subsequently declared their support for Comrade Jude Ukori Mulade as their preferred candidate for the 2027 House of Representatives election.
According to the group, its decision followed concerns over the level of representation and development delivered to the constituency under the current administration.
The stakeholders said they were seeking a representative who would be more responsive to the needs of the people and more committed to advancing issues affecting residents across the constituency.
They urged other political stakeholders and eligible voters in Warri to consider Mulade’s candidacy as the 2027 elections approach.
The group’s endorsement adds to the growing political activities and realignments expected to shape the contest for the Warri Federal Constituency seat ahead of the 2027 general elections.
Ereyitomi, who currently represents the constituency in the House of Representatives, has yet to publicly respond to the allegations contained in the group’s statement.
By staff Reporter Rukevwe Odeh
Residents and road users along the Warri Airport Road, particularly the section near Federal Government College in Warri South Local Government Area of Delta State, have continued to contend with recurring flooding despite years of road construction and rehabilitation efforts.
The affected stretch is frequently submerged following heavy rainfall, with inadequate drainage identified as a major factor contributing to the persistent flooding.
The recurring situation has raised concerns among motorists, residents and other road users, who say the condition of the road continues to disrupt movement and create difficulties for commuters whenever there is significant rainfall.
The development has also renewed calls for attention to the drainage system along the route, with residents hoping that a lasting solution will be implemented to prevent the road from repeatedly becoming flooded.
By staff Reporter: Rukevwe Odeh
A heavy downpour has left the popular NNPC Housing Complex Road, also known as Ekpan Link Road, submerged in floodwater in Uvwie Local Government Area of Delta State.
The rainfall caused significant water accumulation along the busy road, affecting movement and creating difficulties for motorists and other road users.
The condition of the road has renewed concerns over flooding and drainage challenges in the area, particularly during periods of heavy rainfall.
Residents and commuters are expected to exercise caution while using the affected route as efforts to manage the situation continue.
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