Human rights lawyer Femi Falana has called on the Federal Government to begin recovery of about $120.5 billion and N66.4 billion he says are owed to the Federation Account by oil companies and the Nigerian National Petroleum Company Limited (NNPCL).

In a letter sent on behalf of the Alliance on Surviving COVID-19 and Beyond (ASCAB), Falana urged the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, to take immediate action or risk legal proceedings within 14 days.

He claims the funds come from several sources, including unpaid royalties, alleged crude oil theft proceeds, unremitted earnings, outstanding taxes, and dividends linked to operations in the oil and gas sector.

Falana also referenced reports from regulatory and transparency bodies, including the Nigeria Extractive Industries Transparency Initiative (NEITI), which he said highlight significant unpaid revenues in the industry.

Part of the demand also includes recovery efforts tied to refinery rehabilitation spending, which he argues did not produce the expected results despite large financial commitments.

He warned that if the government fails to act within the given timeframe, ASCAB will approach the Federal High Court to compel recovery.
Nigerian National Petroleum Company Limited has not yet responded to the allegations.