- Senate gives NNPCL CEO 10 days to address ₦200 trillion discrepancies.
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Committee rejects NNPCL’s request for a two-month extension.
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Senate warns of constitutional sanctions for failure to comply.
The Senate Committee on Public Accounts has issued a 10-day deadline to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to respond to 11 critical financial queries related to discrepancies in the company’s audited financial statements.
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EKO HOT BLOG reports that the Senate warned that failure to comply with the directive could result in constitutional sanctions.
According to Naija News, the committee, chaired by Senator Aliyu Wadada, expressed deep concern over what it described as “astonishing and intolerable financial irregularities” in the NNPCL’s accounts. The committee highlighted alarming inconsistencies, including over ₦200 trillion in unexplained receivables and unrecorded legal and audit fees spanning from 2017 to 2023.
The deadline, which expires on July 10, was imposed after NNPCL formally requested a two-month extension to respond to the inquiries. However, the committee firmly rejected the request.
“It is unacceptable. We have given them 10 working days. This committee will not tolerate delay tactics in matters concerning public funds,” Senator Wadada said during the committee’s session.
The Senate Committee chairman cautioned that failure to provide the necessary explanations would leave the Senate with no choice but to invoke its constitutional oversight powers.
“Any attempt to disregard this committee’s directive will amount to contempt of the Senate. We are here to protect public funds, and we will not be deterred,” Wadada declared.
The Senate’s firm position signals growing concerns over financial accountability within NNPCL, as lawmakers intensify scrutiny of public institutions handling national resources.
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