The Senate, through its Public Accounts Committee (PAC), has set a deadline of April 29 for the Nigerian National Petroleum Company Limited (NNPCL) to present itself for an accounting of N210 trillion identified in audit reports spanning from 2017 to 2023.
The committee has issued a directive for the Group Chief Executive Officer (GCEO) of NNPCL, Bayo Ojulari, to attend the session with his predecessor, Mele Kyari, on the specified date without fail.
Also expected to appear before the committee are the former Chief Financial Officer, Umar Ajia, Bala Wunti, and the external auditors engaged by the national oil company.
The News Agency of Nigeria (NAN) reports that the committee’s decision followed a motion introduced by Senator Osita Izunaso (Imo West) and supported by Senator Adams Oshiomhole (Edo North).
Chairman of the committee, Aliyu Wadada (Nasarawa West), stated that the N210 trillion in question, as detailed in the audit findings, requires a thorough justification from the company’s leadership.
Mr. Wadada expressed that the explanations previously furnished by NNPCL in response to 19 audit queries were insufficient, emphasizing that the Nigerian public is entitled to clear, detailed, and convincing answers.
“This committee, and by extension, the Senate, is not satisfied with the blanket explanation given by NNPCL on N103 trillion, which it claimed represents liabilities.
“Liabilities have components such as retention fees, legal fees and audit fees. Specific amounts spent on each of these components must be clearly stated and explained.
“Detailed explanations are also required for the N107 trillion, which NNPCL said was expended on joint venture cash calls as well as funds allegedly owed by some defunct banks whose identities were not disclosed.
“Consequently, it is resolved that NNPCL is given an additional two weeks to appear before this committee unfailingly.
“The deadline for compliance is Wednesday, 29 April,” Mr. Wadada announced.
Earlier, Senator Abdul Ningi (Bauchi Central), a member of the committee, advocated for the National Assembly to exercise its powers to compel the attendance of NNPCL officials, citing a pattern of unheeded invitations.
“We must treat this matter with utmost seriousness. The strength of democracy rests significantly on the authority of the legislature.
“Unfortunately, there appears to be a growing reluctance to honour invitations from the National Assembly, leaving members feeling helpless in enforcing compliance,” he remarked.
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