The Nigerian Senate has directed the management of the Nigerian National Petroleum Company Limited to appear before it on April 29, 2026, to explain discrepancies involving N210 trillion flagged in audit reports spanning 2017 to 2023.
The directive was issued by the Senate Committee on Public Accounts, chaired by Aliyu Wadada, following a meeting held on Wednesday. The committee insisted that the oil company must provide detailed explanations for the massive sum yet to be properly accounted for.
According to the resolution, the Group Chief Executive Officer of NNPCL, Engineer Bayo Ojulari, is expected to lead a delegation that includes former GCEO Mele Kyari, former Chief Financial Officer Umar Ajia, Dr Bala Wunti, and the company’s external auditors to appear before the committee without fail.
The decision followed a motion moved by Osita Izunaso and seconded by Adams Oshiomhole. Lawmakers expressed dissatisfaction with the explanations so far provided by the NNPCL regarding the queried funds.
In his remarks, Wadada stressed that the responses submitted by the company to the 19 audit queries were inadequate and lacked the level of detail required for proper legislative scrutiny. He noted that Nigerians deserve clear and comprehensive accountability on the issue.
He specifically criticised the explanation of N103 trillion classified broadly as liabilities, stating that such claims must be broken down into identifiable components such as retention fees, legal fees, and audit fees, with exact figures provided for each category.
The committee also demanded clarity on the remaining N107 trillion, which the NNPCL claimed was spent on joint venture cash calls and debts allegedly linked to unnamed defunct banks. Wadada insisted that such vague explanations were unacceptable.
Meanwhile, a member of the committee, Abdul Ningi, called for stronger enforcement of legislative powers to compel compliance, noting a growing trend of public officials ignoring invitations from the National Assembly.
He warned that failure to hold institutions accountable undermines democratic governance, stressing that the authority of the legislature must be upheld.
The Senate has now given the NNPCL a final two-week window to appear and provide satisfactory explanations.
