Senate summons NNPC boss, others over N210tr flagged in audit report

The Senate Committee on Public Accounts on Wednesday gave the management of the Nigerian National Petroleum Company Limited (NNPCL) until April 29 to account for the N210 trillion flagged in the audit report from 2017 to 2023.

The committee directed the Group Chief Executive Officer of NNPCL, Bayo Ojulari, to always be present with the previous GCEO, Mr. Melee Kyari, on the scheduled date.

Also expected to attend are former Chief Financial Officer, Umar Ajia; Dr. Bala Wunti and the external auditor of the national oil company.

The committee resolution follows a motion tabled by Senator Osita Izunaso and seconded by Senator Adams Oshiomhole at a hearing in Abuja.

Chairman of the Senate Committee, Aliyu Wadada, said the N210 trillion funds in question must be fully accounted for by the management of the company.

Wadada said the explanations provided by the NNPCL to the 19 audit questions were unsatisfactory, and stated that Nigerians deserved clear, detailed and convincing responses.

“This committee, as well as the Senate, is not satisfied with the thorough explanation provided by the NNPCL regarding the N103 trillion, which it claims represents a liability.

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“Liabilities have components such as retention fees, legal fees, and audit fees. The specific amount spent on each of these components must be clearly stated and explained.

“A detailed explanation is also required for the N107 trillion that the NNPCL said was spent on joint venture cash calls as well as funds allegedly owed by some defunct banks whose identities were not disclosed.

“Therefore, it was decided that the NNPCL be granted an additional two weeks to appear before this committee without interruption.

The deadline for compliance is Wednesday, April 29, Wadada said.