The Senate, through its Committee on Public Accounts, has issued a firm deadline of April 29 for the management of the Nigerian National Petroleum Company Limited to appear before it and account for N210 trillion flagged in audit reports spanning 2017 to 2023.
The committee directed the Group Chief Executive Officer, Bashir Bayo Ojulari, to appear alongside his predecessor, Mele Kyari. Also summoned are former Chief Financial Officer Umar Ajia, Dr Bala Wunti, and the company’s external auditors.
The decision followed a motion moved by Osita Izunaso and seconded by Adams Oshiomhole during Wednesday’s session.
Chairman of the committee, Aliyu Wadada, stated that the Senate was dissatisfied with the explanations provided so far, stressing that Nigerians deserve clear and detailed accountability.
He noted that the NNPCL attributed N103 trillion of the queried amount to liabilities but failed to provide a proper breakdown.
“Liabilities include components such as retention fees, legal fees, and audit fees. Each must be clearly itemised and explained,” Wadada said.
He further demanded clarification on the remaining N107 trillion, which the company claimed was spent on joint venture cash calls and funds allegedly owed by unnamed defunct banks.
“The committee is not satisfied with the blanket explanations given. Comprehensive and verifiable details must be provided,” he added.
The Senate consequently resolved to give the company an additional two weeks to comply, warning that the deadline must be honoured without fail.
Earlier, committee member Abdul Ningi urged the Senate to exercise its constitutional powers to compel attendance, citing repeated failures by NNPCL officials to respond to invitations.
“We must treat this matter with the seriousness it deserves. The strength of democracy depends largely on the authority of the legislature,” he said.