The Nigerian Senate, through its Committee on Public Accounts, has given the management of the Nigerian National Petroleum Company Limited (NNPCL) until April 29 to appear before it to account for N210 trillion flagged in audit reports covering 2017 to 2023.
The committee directed the Group Chief Executive Officer of NNPCL, Bayo Ojulari, to appear alongside the immediate past GCEO, Mele Kyari, on the scheduled date without fail.
Also expected to appear before the lawmakers are former Chief Financial Officer Umar Ajia, Bala Wunti, and the external auditors of the national oil company.
The News Agency of Nigeria reports that the committee’s resolutions followed a motion moved by Osita Izunaso (Imo West) and seconded by Adams Oshiomhole (Edo North) during Wednesday’s session.
Chairman of the committee, Aliyu Wadada (Nasarawa West), said the N210 trillion referenced in the audit reports must be fully explained by the company’s management.
Wadada said the explanations earlier provided by NNPCL to 19 audit queries were unsatisfactory and lacked the level of detail expected by the committee.
“This committee, and by extension the Senate, is not satisfied with the blanket explanation given by NNPCL on N103 trillion, which it claimed represents liabilities,” he said.
He explained that liabilities usually consist of various components, including retention fees, legal fees and audit fees, which must be clearly itemised.
“Specific amounts spent on each of these components must be clearly stated and explained,” Wadada added.
He also demanded detailed clarification regarding the remaining N107 trillion, which the company said was spent on joint venture cash calls and funds allegedly owed by some defunct banks whose identities were not disclosed.
“Detailed explanations are also required for the N107 trillion which NNPCL said was expended on joint venture cash calls as well as funds allegedly owed by some defunct banks whose identities were not disclosed,” he said.
The committee subsequently resolved to give the company an additional two weeks to appear and provide detailed responses.
“Consequently, it is resolved that NNPCL is given an additional two weeks to appear before this committee unfailingly. The deadline for compliance is Wednesday, April 29,” Wadada stated.
Earlier, a member of the committee, Abdul Ningi (Bauchi Central), called for the invocation of the National Assembly’s powers to compel the appearance of NNPCL officials, citing repeated failures to honour previous invitations.
“We must treat this matter with utmost seriousness. The strength of democracy rests significantly on the authority of the legislature,” Ningi said.
He warned that the continued refusal of public officials to respond to legislative invitations undermines the oversight powers of the National Assembly.
Nigeria’s oil sector remains under intense scrutiny as lawmakers and the public continue to demand transparency and accountability in the management of national petroleum resources.
