Senate panel orders NNPCL to explain N210trn audit queries
The Senate Public Accounts Committee on Wednesday fixed April 29, 2026, as the deadline for the management of Nigerian National Petroleum Company Limited to appear and account for N210 trillion flagged in audit reports spanning 2017 to 2023. The committee directed the Group Chief Executive Officer, Bayo Ojulari, to lead a delegation, including former GCEO […]
NNPCL GCEO, Bayo Ojulari
The Senate Public Accounts Committee on Wednesday fixed April 29, 2026, as the deadline for the management of Nigerian National Petroleum Company Limited to appear and account for N210 trillion flagged in audit reports spanning 2017 to 2023.
The committee directed the Group Chief Executive Officer, Bayo Ojulari, to lead a delegation, including former GCEO Mele Kyari, ex-Chief Financial Officer Umar Ajia, Bala Wunti, and the company’s external auditors to appear unfailingly on the scheduled date.
The resolution followed a motion by Osita Izunaso, seconded by Adams Oshiomhole.
Chairman of the committee, Aliyu Wadada, said the unaccounted N210 trillion must be fully explained, particularly by the immediate past management.
He said the responses so far provided by NNPCL to 19 audit queries were unsatisfactory.
Wadada faulted the company’s explanation that N103 trillion represented liabilities, noting that such liabilities—comprising retention, legal and audit fees—must be clearly itemised.
He also demanded a detailed breakdown of the remaining N107 trillion, said to have been spent on Joint Venture cash calls and debts linked to unnamed defunct banks.
He said Nigerians deserve transparent and verifiable details, not general explanations.
Earlier, committee member Abdul Ningi urged the invocation of the National Assembly’s constitutional powers to compel NNPCL officials to appear, citing repeated failures to honour invitations.
He warned that continued disregard for legislative summons undermines democratic accountability and weakens the authority of the legislature.