The Senate says that the Nigerian National Petroleum Company Limited (NNPCL) is yet to account for the N210 trillion highlighted in the 2017–2023 audit report by the Office of the Auditor-General for the Federation.
The Chairman of the Senate Committee on Public Accounts, Senator Aliyu Wadada, made the disclosure on Thursday during a resumed hearing on the audit report, which reviewed the spending of MDAs, according to the News Agency of Nigeria (NAN).
Wadada said the Senate did not accuse NNPCL of theft but is demanding accountability for the N210 trillion flagged in the audit, in line with its duty to ensure transparency and accountability in the management of public funds.
“The Senate on Thursday clarified that the alleged N210 trillion financial infractions raised against Nigerian National Petroleum Company Limited (NNPCL) in the 2017-2023 audit report had yet to be accounted for by the company,” the source read in part.
It added that “Wadada maintained that NNPCL did not account for the said fund as raised by the reports, contrary to media reports that the money had been stolen by the company.”
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NNPCL’s Group CEO, Bayo Ojulari, was absent from Thursday’s session, reportedly due to an OPEC meeting in Vienna. The committee rejected a presentation by the company’s Chief Financial Officer, Dapo Segun, insisting that Ojulari must appear in person to address the audit queries.
Wadada reiterated that the committee’s demand is not personal but part of its mandate to ensure proper use of public resources.
Senator Abdul Ningi, a member of the Senate Committee on Public Accounts, noted that GCEO Bayo Ojulari has failed to appear before the committee since his appointment, despite receiving the latest invitation ahead of the OPEC meeting.
Also speaking, Senator Adams Oshiomhole warned against ignoring the Senate’s authority, stating that no one is above the country and anyone who thinks otherwise has no place in government.
He added that the committee’s directive is not optional and urged Ojulari to comply without delay before more severe actions are taken.
What you should know
The Senate Committee on Public Accounts had earlier ordered NNPCL’s Group CEO, Bayo Ojulari, to appear on July 10 to respond to audit queries over a reported N210 trillion unaccounted for between 2017 and 2023 as reported by Nairametrics.
- The directive, issued at a June 26 session, came with a warning that failure to appear could result in an arrest warrant. Following Ojulari’s absence on the scheduled date, the committee reaffirmed its demand, stressing that he must appear before it to address the financial infractions raised in the audit report
