Senate Fumes As NNPCL Shuns N210tn Audit Probe
The Senate Committee on Public Accounts has issued a 10-day ultimatum for top executives of Nigerian National Petroleum Company Limited (NNPCL) to appear before it by July 10 or face constitutional sanctions.
The Senators made the demand after the Nigerian National Petroleum Company Limited executives failed to appear before the committee on Thursday.
The committee is probing alleged financial discrepancies amounting to over N210tn in its audited reports from 2017 to 2023.
No officials or external auditors from NNPCL showed up despite being summoned by the Senate Committee.
However, representatives from the Economic and Financial Crimes Commission, Independent Corrupt, Practices and Other Related Offences Commission and Department of State Services were present.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session of Thursday, 26th June 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But the lawmakers rejected the request.
The committee chairman, Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” Wadada stated.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate.
“If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog,” he said.
Olamilekan Adigun is a graduate of Mass Communication with years of experience in journalism embedded in uncovering human interest stories. He also prioritises accuracy and factual reportage of issues.
