The Senate Committee on Public Accounts has given the management of the Nigerian National Petroleum Company Limited until April 29, 2026, to appear before it and explain N210 trillion flagged in the company’s audit reports from 2017 to 2023.
The committee, chaired by Senator Aliyu Wadada of Nasarawa West, issued the fresh deadline after its meeting on Wednesday in Abuja. It directed the current Group Chief Executive Officer of NNPCL, Bayo Ojulari, to appear with the immediate past GCEO, Mele Kyari, former Chief Financial Officer Umar Ajia, Dr Bala Wunti and the company’s external auditors.
The resolution followed a motion moved by Senator Osita Izunaso of Imo West and seconded by Senator Adams Oshiomhole of Edo North. Wadada said the committee was not satisfied with NNPCL’s written responses to 19 audit queries, insisting that Nigerians deserved clear and detailed explanations on the figures captured in the reports. According to him, the company’s explanation that N103 trillion represented liabilities was too broad. He said NNPCL must provide a breakdown of the liabilities, including retention fees, legal fees and audit fees.
“This committee and, by extension, the Senate, is not satisfied with the blanket explanation given by NNPCL on N103 trillion,” Wadada said. “Specific amount of money spent on each of the three components must be stated and explained.”
The committee also demanded clarification on another N107 trillion, which NNPCL reportedly linked to joint venture cash calls and funds allegedly owed by unnamed defunct banks. Wadada said the explanations so far provided were unacceptable and required further scrutiny.
“Detailed explanation is also expected to be given on the N107 trillion NNPCL said it expended on JVC cash call and part of the money allegedly owed by some defunct banks whose names were not mentioned,” he added.
Senator Abdul Ningi of Bauchi Central urged the committee to consider invoking the powers of the National Assembly to compel NNPCL officials to appear, saying repeated failure to honour legislative invitations undermined democratic oversight.
“We must treat this matter with the utmost seriousness,” Ningi said, adding that the authority of the legislature must be respected.
The committee said the April 29 appearance date must be obeyed without fail.
