Senate Demands Answers As NNPCL Fails To Account For ₦210 Trillion In Audit Report

The Senate Committee on Public Accounts had previously summoned the Group Chief Executive Officer of NNPCL, Bayo Ojulari, to appear on July 10 to answer audit queries regarding the reported ₦210 trillion unaccounted for between 2017 and 2023.

This directive was issued during a session held on June 26, along with a warning that failure to honour the invitation could lead to the issuance of an arrest warrant. After Ojulari failed to appear on the specified date, the committee restated its position, emphasizing that he must show up in person to address the financial discrepancies flagged in the audit report.

Outcome Of The Senate Meeting 

The Senate has stated that the Nigerian National Petroleum Company Limited (NNPCL) has not yet provided a proper account of the ₦210 trillion highlighted in the 2017–2023 audit report issued by the Office of the Auditor-General for the Federation. 

This was revealed on Thursday by the Chairman of the Senate Committee on Public Accounts, Senator Aliyu Wadada, during a continued hearing on the audit report, which reviewed the expenditures of various Ministries, Departments, and Agencies (MDAs), according to the News Agency of Nigeria (NAN).

Wadada clarified that the Senate is not accusing NNPCL of theft but is demanding transparency and accountability regarding the ₦210 trillion flagged in the audit report.

 “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.”

NNPCL’s Group Chief Executive Officer, Bayo Ojulari, was absent at Thursday’s hearing, reportedly because of an OPEC meeting in Vienna. 

However, the committee dismissed a presentation delivered by the company’s Chief Financial Officer, Dapo Segun, stressing that only Ojulari can personally address the audit concerns. Wadada emphasized that the Senate’s demand was not a personal attack but rather a constitutional responsibility to ensure accountability in the use of public resources.

Senator Abdul Ningi, also a member of the Senate Committee, expressed concern over Ojulari’s continued absence from committee hearings since his appointment, despite being notified of the latest invitation prior to the OPEC meeting. 

In a related comment, Senator Adams Oshiomhole cautioned against disregarding the authority of the Senate, asserting that no individual is above the country and that such conduct is unacceptable in public service. He emphasized that the committee’s directive must be taken seriously, warning that further delays could trigger more stringent measures.

The committee has now ordered that NNPCL’s next appearance must be led by its Group CEO, Bayo Ojulari. The exact date for this appearance will be announced soon, and failure to comply could result in the Senate invoking its coercive powers.


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