Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL)’s GCEO, demanding accountability for over N22.3 billion and millions in foreign currency allegedly missing, diverted, or misappropriated as documented in the 2022 Auditor-General’s report.
The Socio-Economic Rights and Accountability Project (SERAP) has called on the Group Chief Executive Officer of the Nigerian National Petroleum Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL)’s GCEO, demanding accountability for over N22.3 billion and millions in foreign currency allegedly missing, diverted, or misappropriated as documented in the 2022 Auditor-General’s report.Company Limited (NNPCL), Mr. Bayo Bashir Ojulari, to account for an alleged missing N22.3 billion, $49.7 million, £14.3 million, and €5.2 million in oil money.
The demand, made in an October 25, 2025, letter, follows the Auditor-General of the Federation’s recently published 2022 annual report, which SERAP says documents the diversion and misappropriation of funds. SERAP urged Mr. Ojulari “to identify those responsible for the diverted or misappropriated oil money and hand them over to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for prosecution, as appropriate.” The organisation also called for the full recovery of the funds. SERAP states, “These grim allegations by the Auditor-General suggest a grave violation of the public trust.” The group has given NNPCL a seven-day ultimatum before considering legal action.