Senate Gives NNPCL Boss 10 Days to Account for Missing N200trn

The Senate Committee on Public Accounts has issued a 10-day ultimatum to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to address 11 critical financial queries related to discrepancies in the company’s audited financial statements.

The committee, chaired by Senator Aliyu Wadada, emphasized that failure to comply with the directive could result in serious constitutional consequences.

Earlier this week, the committee raised alarm over what it described as “mind-boggling and unacceptable” financial irregularities in NNPCL’s accounts. These include over ₦200 trillion in unexplained receivables and undocumented legal and audit fees covering the period 2017 to 2023.

On Thursday, NNPCL had formally requested a two-month extension to respond to the queries, but the Senate flatly rejected the request.

> “It is unacceptable. We have given them 10 working days. This committee will not tolerate delay tactics in matters concerning public funds,” Senator Wadada said.

He warned that if the NNPCL chief fails to respond by the July 10 deadline, the Senate would be compelled to invoke its constitutional oversight powers to ensure accountability.