By Seun Ibiyemi
The Senate, through its Committee on Public Accounts, has summoned the management of the Nigerian National Petroleum Company Limited to appear before it on or before April 29 to account for N210 trillion flagged in audit reports spanning 2017 to 2023.
The committee directed the Group Chief Executive Officer, Bayo Ojulari, to appear alongside the immediate past GCEO, Mele Kyari, as well as former Chief Financial Officer Umar Ajia, Dr. Bala Wunti, and the company’s external auditors.
The resolution followed a motion moved by Osita Izunaso (Imo West) and seconded by Adams Oshiomhole (Edo North).
Chairman of the committee, Aliyu Wadada (Nasarawa West), said the N210 trillion in question must be fully accounted for, stressing that the explanations provided so far by NNPCL were inadequate.
“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,” Wadada said.
He noted that liabilities should be clearly broken down into components such as retention fees, legal fees and audit fees, with specific amounts provided for each.
Wadada also demanded detailed clarification on the remaining N107 trillion, which NNPCL said was spent on joint venture cash calls and funds allegedly owed by some defunct banks whose identities were not disclosed.
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“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,” he added.
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 invitations.
“We must treat this matter with utmost seriousness. The strength of democracy rests significantly on the authority of the legislature,” Ningi said, warning against growing disregard for parliamentary oversight.
The committee maintained that Nigerians deserve transparent and detailed explanations regarding the financial records of the national oil company.
