NGO Drags NNPCL Executive to Court Over Alleged N140bn OVH Energy Deal

An Abuja-based non-governmental organisation, the Incorporated Trustees of Legal Defence Against Injustice Initiative, has instituted legal action against Adedapo Segun, Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), over the company’s acquisition of OVH Energy.

The suit, filed at the Abuja High Court and marked CV/3104/2025, seeks the refund of $325.09 million (about N140.56 billion) allegedly tied to the controversial deal.

According to the News Agency of Nigeria (NAN), the group is asking the Court to compel Segun — who also previously served as NNPCL’s Executive Vice President, Downstream — to pay the funds back into the Federal Government’s treasury.

The NGO also urged the Court to order the Economic and Financial Crimes Commission (EFCC) and the Attorney-General of the Federation (AGF) to prosecute Segun in relation to his role in the acquisition, as well as in transactions linked to the rehabilitation of the Port Harcourt and Warri refineries.

Reliefs sought

In the originating summons filed by its counsel, Mr. Festus Ugo, the group is seeking several key reliefs, including:

• “An order of this Honourable Court directing the 1st defendant (Segun) to pay forthwith into the treasury of the Federal Government of Nigeria [through the EFCC and AGF] the total sum of $325.09 million (N140.559 billion).”
• “An order directing the 2nd and 3rd defendants (EFCC and AGF) to forthwith prosecute the 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 the rehabilitation of the Port-Harcourt and Warri Refineries.”

The plaintiff is also seeking a perpetual injunction barring Segun from holding public office.

Why it matters

The suit comes amid EFCC’s recent disclosures of funds allegedly recovered from contractors and NNPCL officials. The NGO argued that, despite these revelations, no charges have been brought against Segun, thereby necessitating judicial intervention to enforce accountability.

A supporting affidavit filed by a litigation secretary emphasized that the case was instituted in public interest and in good faith under the Oaths Act, 2004, stressing the need for urgent judicial oversight.

Background to the OVH deal

In October 2022, NNPCL announced the acquisition of OVH Energy Marketing, the operator of Oando-branded filling stations. OVH was merged with NNPC Retail Limited, expanding the company’s retail footprint.

The transaction added 380 filling stations to NNPCL’s portfolio, moving it closer to its target of 1,500 outlets nationwide. The acquisition also included:

• A reception jetty with a 240,000-metric-ton monthly capacity.
• Eight LPG plants and three lube blending plants.
• Three aviation depots and 12 warehouses.

At the time, the deal was presented as a strategic move to strengthen NNPCL’s retail operations, improve supply chains, and enhance fuel availability across Nigeria.

However, civil society organisations and industry observers have since raised concerns over the cost, transparency, and execution of the deal — issues now being tested in court.