The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) a three-week ultimatum to respond to audit queries involving N210 trillion in unaccounted funds spanning 2017 to 2023.
This directive was issued to NNPCL’s Group Chief Executive Officer, Engr. Bayo Ojulari, who appeared before the committee in Abuja after previously missing several invitations.
Ojulari apologized for his earlier absence and requested four weeks to address the 19 queries raised against the company but was granted three weeks by the committee.
He explained that, having recently taken office, he required more time to thoroughly investigate the issues and consult with both external auditors and relevant stakeholders to provide comprehensive responses.
Senator Ahmed Wadada Aliyu, chairing the committee, clarified that the N210 trillion in question comprises N103 trillion in liabilities and N107 trillion in assets.
He emphasized that the investigation does not assume the funds are stolen or missing but that the committee acts on its constitutional oversight duty to probe the queries raised in the audit reports.
The committee has directed NNPCL to submit its written responses within three weeks, after which Ojulari and his management team will be expected to appear before the senators for further clarification and defence.
