An Abuja High Court has been asked to compel Adedapo Segun, the Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), to refund ₦140.5 billion ($325.09 million) allegedly linked to the company’s acquisition of OVH Energy.
The Incorporated Trustees of Legal Defence Against Injustice Initiative filed the suit, marked CV/3104/2025, through its lawyer, Festus Ugo. The group also urged the Court to direct the Economic and Financial Crimes Commission (EFCC) and the Attorney-General of the Federation (AGF) to prosecute Segun over his role in the OVH deal and in transactions tied to the rehabilitation of the Port Harcourt and Warri refineries.
According to the summons obtained by the News Agency of Nigeria (NAN), the plaintiff is seeking “an order 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 (₦140.559 billion).”
The NGO is also asking the Court for a perpetual injunction to restrain Segun from holding public office.
The originating summons lists Segun as the 1st defendant, with the EFCC and the AGF as 2nd and 3rd defendants. A supporting affidavit filed by a litigation secretary described the case as a public interest suit, stressing that it was instituted in good faith under the Oaths Act, 2004, to ensure accountability.
The group argued that despite EFCC’s disclosures of recoveries from oil sector contractors and NNPCL officials, no criminal charges had been filed against Segun, making judicial intervention necessary.
In October 2022, NNPCL acquired OVH Energy Marketing, operator of Oando-branded retail stations, in a deal that merged the company with NNPC Retail Limited. The acquisition added 380 service stations to NNPCL’s network, bringing it closer to its target of 1,500 outlets nationwide.
The transaction also included strategic assets such as a reception jetty with 240,000-metric-ton monthly capacity, eight LPG plants, three lube blending plants, three aviation depots, and 12 warehouses. At the time, the deal was presented as part of NNPCL’s long-term plan to boost retail presence and strengthen supply chains.
The suit has not yet been assigned a hearing date.
