₦ 210tn Lost Funds: Again, NNPC Boss Shuns Senate Committee

Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Bayo Ojulari, on Thursday failed to appear before the Senate Committee about public accounts to hear opinions about N210 trillion lost due to sending money to the federation account.

This is the second time in about two weeks that the NNPCL head will fail to appear before the Senate Committee.

Ojulari is very absent when the committee invited company management for funds lost last month.

Instead of performing directly on Thursday, the NNPCL BOS sent representatives to the trial held at the Assembly Complex in Abuja.

However, the committee refused to be involved with a delegation and insisted that only the head of the group itself had to handle 11 critical financial questions raised in the statement of the company audited.

Parliamentary members describe the absence of sustainable ojulari as a direct insult to the authority of the National Assembly and violations of the responsibility of their supervision.

The head of the committee, Aliyu Wadada, therefore, warned that the senate would not tolerate further ignoring and swearing to issue a new date for NNPCL Gceo to appear directly.

Also read: NNPC Ltd Revenue Reaching N6TR When Income Sounds to N1.05Trn in May

Previously, the Senate had warned that the failure to respond to its calling adequately could result in prayer of its constitutional power, including the possibility of sanctions.

The committee clarified that they did not accuse NNPCL of stealing the amount mentioned; Conversely, it only calls for accountability.

“First and most importantly, there has never been a period that this committee said that NNPC stole the N210 trillion. But this committee said, and still supported it, NNPC must be responsible for N210 Trillion. And the reason is that you submit through your audited financial statements.

“And to cry loudly, there is no cost to be paid with simple accounting principles considered and accepted as costs that still need to be paid without passing P&L profits and losses. In your P&L, the costs to be paid are reflected and still, I think, 3 trillion or 5 trillion.

“We cannot place 103 trillion. With your notes and your presentation, it cannot be proven. So as far as we know, it cannot stand it as a figure of accountability,” said Wadada.

By: Babajide Okeowo