The Nigerian Senate has intensified scrutiny of the Nigerian National Petroleum Company Limited, issuing a firm directive for its management to appear before the Committee on Public Accounts on April 29, 2026, to explain an alleged ₦210 trillion unaccounted for in audit reports covering 2017 to 2023.
The committee specifically mandated the Group Chief Executive Officer, Bayo Ojulari, to appear alongside the immediate past GCEO, Mele Kyari, former Chief Financial Officer Umar Ajia, Bala Wunti, and the company’s external auditors. The Senate stressed that their appearance must be “unfailing,” signaling growing impatience over repeated delays.
This resolution followed a motion moved by Osita Izunaso and seconded by Adams Oshiomhole, reflecting bipartisan concern over the scale of the financial discrepancies.
Chairman of the committee, Aliyu Wadada, stated that the explanations previously submitted by NNPCL were inadequate and lacked the level of detail expected in matters of such magnitude. He faulted the company’s claim that ₦103 trillion represented liabilities, arguing that liabilities must be properly broken down into specific components such as retention fees, legal fees, and audit fees, each with clearly stated figures.
Wadada also raised concerns over the remaining ₦107 trillion, which NNPCL attributed to Joint Venture Cash Call obligations and debts allegedly linked to unnamed defunct banks. He insisted that vague references were unacceptable and that Nigerians deserve precise, verifiable explanations.
According to him, the National Assembly would not tolerate what he described as “blanket responses” on issues affecting public funds, emphasizing that transparency and accountability remain central to democratic governance.
Earlier, committee member Abdul Ningi called for stronger enforcement measures, including the invocation of the Senate’s constitutional powers to compel attendance. He lamented what he described as a growing trend of public officials ignoring legislative summons, warning that such actions undermine the authority of the legislature.
“We must treat this matter with the utmost seriousness,” Ningi said, adding that failure to comply could erode public confidence in democratic institutions.
The committee ultimately granted NNPCL an additional two weeks to appear, making April 29 a decisive date in the ongoing probe. Observers say the outcome could have far-reaching implications for accountability in Nigeria’s oil sector.
Guardian
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