The Senate has given the management of the Nigerian National Petroleum Company Limited till April 29 to appear before it over alleged discrepancies totalling N210 trillion contained in audit reports spanning 2017 to 2023.
The directive was issued by the Senate Committee on Public Accounts, which also summoned the company’s Group Chief Executive Officer, Bayo Ojulari, alongside the immediate past GCEO, Mele Kyari, to provide detailed explanations on the flagged figures.
Others expected to appear before the panel include former Chief Financial Officer, Umar Ajia; Bala Wunti; as well as the external auditors of the national oil firm.
The committee’s resolution followed a motion moved by Osita Izunaso and seconded by Adams Oshiomhole during its sitting.
Chairman of the committee, Aliyu Wadada, said the explanations so far provided by the NNPCL on the 19 audit queries were unsatisfactory, stressing that Nigerians deserved transparency and accountability.
He particularly faulted the company’s claim that N103 trillion represented liabilities, noting that such figures must be broken down into verifiable components.
“Liabilities have components such as retention fees, legal fees and audit fees. Specific amounts spent on each must be clearly stated and explained,” Wadada said.
The lawmaker also demanded a comprehensive account of the remaining N107 trillion, which the company reportedly attributed to joint venture cash calls and funds allegedly owed by unnamed defunct banks.
According to him, the committee would no longer accept vague responses, insisting on detailed disclosures to justify the massive sums involved.
Wadada warned that the April 29 deadline must be strictly complied with, adding that failure to honour the invitation could attract legislative sanctions.
Earlier, a member of the panel, Abdul Ningi, decried what he described as a growing disregard for invitations from the National Assembly by public institutions.
He urged the committee to invoke its constitutional powers to compel compliance, stressing that the authority of the legislature must be upheld in the interest of accountability.
“The strength of democracy rests significantly on the authority of the legislature,” Ningi said, warning against any attempt to undermine its oversight functions.
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