Senate Slams NNPCL with April 29 Deadline to Explain N210Trn Discrepancy or Face Sanctions

By Adesuwa Tsan

The Nigerian Senate has slammed the management of the Nigerian National Petroleum Company Limited (NNPCL) with April 29 deadlune to appear before its Committee on Public Accounts to account for an alleged N210 trillion flagged in audit reports spanning 2017 to 2023.

The committee also ordered the Group Chief Executive Officer, Bayo Ojulari, to appear alongside the immediate past GCEO, Mele Kyari, former Chief Financial Officer, Umar Ajia, Bala Wunti as well as the company’s external auditors, stressing that their attendance must be unfailing.

The resolution followed a motion moved by Osita Izunaso and seconded by Adams Oshiomhole yesterday.

Chairman of the committee, Aliyu Wadada, said the Senate was dissatisfied with the explanations so far provided by the national oil company on the queried sum, insisting that the N210 trillion flagged in the audit reports must be fully accounted for, particularly by the immediate past management.

According to Wadada, responses given by the NNPCL to 19 audit queries were inadequate and failed to meet public expectations for transparency and accountability.

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“This committee and by extension, the Senate, is not satisfied with the blanket explanation given by NNPCL on N103 trillion which it said stands for liabilities because liabilities are in three components which are retention fee, legal fee and audit fee.

“Specific amounts of money spent on each of the three components must be stated and explained.

“Detailed explanation is also expected to be given on the N107 trillion NNPCL said it expended on JVC cash calls and part of the money allegedly owed by some defunct banks whose names were not mentioned.

“Consequently, it is hereby resolved that the NNPCL is given an additional two weeks to unfailingly appear before this committee. The deadline for compliance is set for Wednesday, April 29, 2026,” he said.

Earlier, a member of the committee, Abdul Ningi, urged the Senate to invoke its constitutional powers to compel the appearance of the NNPCL management, citing repeated failures to honour invitations.

“We must treat this matter with the utmost seriousness. The essence of democracy rests significantly on the strength and authority of the legislature. Unfortunately, in recent times, there appears to be a growing reluctance by individuals to honour invitations from the National Assembly, leaving members feeling helpless in compelling appearances before committees,” he said.

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(Sun)