• Give 10 days ultimatum
The Senate Committee on Public Accounts on Thursday granted the Nigerian National Petroleum Company Limited (NNPC) administration to appear before it to defend the problems raised on its audited financial statements covered by 2017 to 2023.
The Senate demands NNPC explanations about financial discrepancies for a total of ₦ 210 billion.
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In the last session held on June 18, legislators specifically expressed concern about audited reports, citing accumulated expenses of ₦ 103 billion, which included ₦ 600 billion in retention rates, unpalified legal fees and auditor charges, all without any accompanying documentation or referenced contracts.
Before starting the committee meeting on Thursday, the president of the Committee, Senator Aliyu Wadada, asked if the NNPC representatives were present.
However, a committee employee told Senator Wadada that he was in custody of a letter from the Oil Corporation, requesting two weeks of extension to present the necessary documents.
In addition to the documents, the Oil Corporation was based on its inability to attend the session with the Senate Committee on a management retirement that is held outside Abuja.
The letter read in part: “We refer to a letter on the issue dated June 24, 2025 (attached copy). We thank the Public Accounts Committee for the opportunity to participate and for allowing NNPC Limited to provide clarifications on the topics raised in the reference letter.
“After having carefully reviewed your application, we kindly seek your consideration to reprogram the participation for a period of two months from now on. This is to allow us to collect the information and documentation requested.” In addition, the members of the Board and the NNPC Limited Senior Management Team are currently far in a withdrawal, which makes it difficult to attend the reported session for Thursday, June 26, 2025.
“While we appreciate the importance of this commitment and the opportunity provided, we want to reassure our commitment to the success of this exercise.
“Please accept the guarantees of our eldest cordial.”
Senator Wadada, who dismissed the excuses declared in the letter as unacceptable, declared that the executive director of the NNPC group, Bayo Ojulari, must take other members of his management team to the committee meeting on July 10.
He said: “Thank you very much, Mr. Clark, distinguished colleagues and a respected audience.
“Everyone has heard the content of the NNPC letter. First of all, this committee does not expect NNPC documents today, but answers the 11 questions we issued the last time they appeared before us.
“Secondly, for a corporate body like NNPC to request two months to respond to the consultations originating in their own audited books is, in our opinion, unacceptable.
“Consequently, this committee is giving NNPC, 10 business days as of today to appear before us with answers to the questions raised. This means that by July 10, 2025, NNPC must answer.”
“Failure will be considered contempt of the Senate.
The Nigerian public is observing and waiting for us, this is public funds, and we are here as their representatives to guarantee responsibility. “
The Senate also “points out that NNPC external auditors are not present today.“