Lawmakers at the Senate
Senate Committee on Public Accounts has issued a three-week deadline for the Nigerian National Petroleum Company Limited (NNPCL) to respond to audit queries involving N210 trillion.
According to the News Agency of Nigeria (NAN), these queries stem from audit reports spanning 2017 to 2023, highlighting concerns over unaccounted funds.
Chaired by Sen. Ahmed Wadada, the committee clarified that the N210 trillion in question—comprising N103 trillion in liabilities and N107 trillion in assets—is not deemed stolen or missing but requires proper accounting.
The directive was addressed to NNPCL’s Group Chief Executive Officer, Bayo Ojulari, who apologized for the company’s prior failure to appear before the committee.
Ojulari, who has been in office for just over 100 days, requested additional time to investigate the 19 queries raised, citing their technical complexity.
“I need to thoroughly understand these issues to provide accurate responses,” he stated, noting that he would collaborate with external auditors and relevant teams to address the concerns.
While Ojulari sought a four-week period, the committee granted three weeks, emphasizing the urgency of the matter.
Sen. Wadada elaborated that the queries were derived from the Auditor-General’s financial statements for NNPCL from 2017 to 2023, not from the executive, judiciary, or the committee itself.
“Our role is to investigate these queries as part of our constitutional oversight,” he said, adding that NNPCL must submit written responses within three weeks, followed by an in-person defense by Ojulari and his team.
Committee members underscored the gravity of the situation. Sen. Victor Umeh (Anambra) stressed the need for transparency, noting NNPCL’s critical role in Nigeria’s economic prosperity.
Sen. Babangida Hussaini (Jigawa) described the queries as “critical and germane,” urging the NNPCL to address them diligently. Sen. Tony Nwoye (Anambra) advocated for a fair hearing, suggesting the possibility of inaccuracies in the audit report.
NAN reports that committee members expressed confidence that Ojulari’s response would clarify the issues, reinforcing the importance of accountability in NNPCL’s operations.
