A non-governmental organisation, the Incorporated Trustees of Legal Defence Against Injustice Initiative, has sued Nigerian National Petroleum Company Limited (NNPCL) executive, Adedapo Segun, at the Abuja High Court, seeking the refund of N140 billion ($325.09 million) allegedly tied to the company’s acquisition of OVH Energy.
According to the News Agency of Nigeria (NAN), the group wants the Court to compel Segun, who is NNPCL’s Chief Financial Officer and former Executive Vice President, Downstream, to return the funds to the Federal Government’s treasury.
It is also urging the Court to direct the Economic and Financial Crimes Commission (EFCC) and the Attorney-General of the Federation (AGF) to prosecute him over his role in the OVH acquisition and in transactions linked to the rehabilitation of the Port Harcourt and Warri refineries.
“The Incorporated Trustees of Legal Defence Against Injustice Initiative has filed a suit seeking the refund of over N140 billion into the coffers of the Federal Government.
“The fund is said to be connected to the acquisition of OVH Energy by the Nigerian National Petroleum Company Limited (NNPCL). The originating summons, marked: CV/3104/2025, was filed by the plaintiff’s lawyer, Mr Festus Ugo, at the Abuja High Court.
“The group sued NNPCL’s Chief Financial Officer and its former Executive Vice President, Downstream, Mr Adedapo Segun; the Economic and Financial Crimes Commission (EFCC), and the Attorney-General of the Federation (AGF) as 1st, 2nd and 3rd defendants respectively,” the NAN report read in part.
The plaintiff is also seeking specific relief from the Court.
NAN quoted the summons as saying: “An order of this Honourable Court directing the 1st defendant to pay forthwith into the treasury of the Federal Government of Nigeria [through the 2nd and 3rd defendants] the total sum of $325.09 million (N140.559 billion).
“An order of this Honourable Court directing the 2nd and 3rd defendants to forthwith prosecute 1st defendant in relation to the roles he played in connection with the acquisition of OVH Energy by the Nigerian National Petroleum Company Limited and rehabilitation of the Port-Harcourt and Warri Refineries.”
More insights
The originating summons, filed as a public interest case, names three defendants: the NNPCL official, the EFCC, and the Attorney-General of the Federation. In addition to demanding a refund, the group is also seeking a perpetual injunction to bar the official from holding public office.
- The suit follows EFCC’s recent disclosure of funds recovered from contractors and NNPCL officials. The plaintiff argued that, despite allegations, no charges had been filed, making judicial intervention necessary.
In a supporting affidavit, a litigation secretary stated that the case was instituted in good faith under the Oaths Act, 2004, stressing the urgency of accountability.
What you should know
In October 2022, NNPCL acquired OVH Energy Marketing, the operator of Oando-branded retail service stations. OVH was merged with NNPC Retail Limited in a deal announced on October 1, 2022.
- The acquisition was positioned as a strategic move to expand NNPCL’s retail presence, improve supply chains, and strengthen nationwide product availability. It added 380 filling stations to NNPCL’s portfolio, moving the company closer to its target of 1,500 outlets.
- The deal also included a reception jetty with a 240,000-metric-ton monthly capacity, eight LPG plants, three lube blending plants, three aviation depots, and 12 warehouses.
