- Why We Failed To Honour Senate’s ₦210 Trillion Audit Probe – NNPCL.
- Senate rejects NNPCL’s request for two-month extension.
- Committee issues 10-day ultimatum over ₦210 trillion probe.
The Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), Dapo Segun, has explained why the company failed to appear before the Senate over the ₦210 trillion allegedly missing from its audited financial statements covering 2017 to 2023.
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EKO HOT BLOG reports that Segun, in a letter read during Thursday’s session by the Chairman of the Senate Public Accounts Committee, Senator Aliyu Wadada, disclosed that NNPCL management was engaged in a managerial retreat on the day of the scheduled appearance.
In the letter dated June 25, Segun appealed for more time, requesting a two-month extension to enable the company to gather the required documents and prepare a comprehensive response.
“Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation,” Segun wrote.
However, the Senate Public Accounts Committee expressed strong dissatisfaction with the request. No NNPCL officials or external auditors honoured the Senate’s summons, prompting the committee to issue a stern 10-day ultimatum.
Senator Wadada, while rejecting the two-month extension plea, insisted that the NNPCL’s delay was unjustifiable and described it as unacceptable for a company of its magnitude.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada said.
The Senate has now mandated NNPCL top executives to appear before the committee by July 10 or face constitutional sanctions.
The probe is centred on discrepancies found in the NNPCL’s audited reports, with the alleged missing funds sparking serious concerns over financial accountability at the state-owned oil giant.
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