The case, marked CV/3104/2025, was filed by the Incorporated Trustees of Legal Defence Against Injustice Initiative under public interest litigation. The defendants include NNPC’s Chief Financial Officer and former Executive Vice President (Downstream), Dapo Segun, as first defendant, while the Economic and Financial Crimes Commission (EFCC) and the Attorney-General of the Federation (AGF) were joined as second and third defendants.
Through its counsel, Festus Ugo, the group asked the court to determine whether Segun should be held personally liable for the refund of $325.09 million (about ₦140.5 billion) allegedly spent on the acquisition, as well as another ₦5 trillion purportedly disbursed for the rehabilitation of the Port Harcourt and Warri refineries.
Reliefs Sought
The plaintiff is seeking a declaration that Segun is personally accountable for the funds and should refund them to the federal government through the EFCC and AGF.
It also urged the court to order the immediate repayment of the $325.09 million and to direct the EFCC and AGF to prosecute him over his role in the transactions.
Additionally, the group is asking for a perpetual injunction restraining Segun from holding any public office in Nigeria, as well as an order compelling him to disclose his assets, including company interests, tax records, and both local and foreign bank accounts.
In a separate ex-parte motion, the plaintiff sought Segun’s suspension from his role as NNPC CFO pending the conclusion of the matter.
Background to the Case
The suit stems from NNPC’s 2022 announcement of its acquisition of OVH Energy, which it described as a strategic move to expand downstream operations and attract investment. However, the transaction has since come under scrutiny.
In August 2024, the National Assembly invited stakeholders to a forensic investigation into alleged “irregularities and corruption” in the deal.
Almost a year later, the EFCC interrogated Umar Isa, another former CFO of NNPC, over allegations of a $7.2 billion fraud tied to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries. Isa and other senior officials are reportedly under investigation for alleged abuse of office, diversion of funds, and kickbacks from contractors.
The court has not yet fixed a date for the hearing of the matter.
