July 25, 2024
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OIL & GAS

SERAP Filed Lawsuit Against President Tinubu

The Nigerian Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu over allegations of missing oil revenues and unaccounted-for funds in Nigeria.

This was published on Monday on their website, with the allegations amounting to over US$15 billion in oil revenues and N200 billion budgeted for refinery repairs between 2020 and 2021, were detailed in the 2021 report by the Nigeria Extractive Industries Transparency Initiative (NEITI).

The lawsuit, filed at the Federal High Court in Lagos (Suit Number FHC/L/CS/2334/2023), states that SERAP is seeking a court order to compel President Tinubu to investigate these allegations and direct anti-corruption agencies to probe corruption claims involving various entities. This was revealed in a press release from SERAP during the weekend, accord

Filed by its lawyers, Kolawole Oluwadare, Andrew Nwankwo and Valentina Adegoke, the case maintained that the findings 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.”

Specifically, the suit seeks accountability for funds allegedly not remitted to the public treasury and spending on refinery rehabilitation that did not result in operational refineries. The NEITI report also highlights unaccounted pipeline transportation revenue and unremitted funds from the sale of crude oil.

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