Senate gives fresh deadline to NNPC over ‘unaccounted’ N210trn

The Senate Committee on Public Accounts has issued a fresh April 29 deadline to the management of the Nigerian National Petroleum Company Limited (NNPCL) to account for N210 trillion it said could not be traced, while investigating its books.

The money was captured in the 2017-2023 audit reports of the oil firm, but the committee maintained that it remained unaccounted for by the NNPCL.

At its resumed sitting in Abuja on Wednesday, the committee, which is chaired by Senator Aliyu Wadada, directed the current Group Chief Executive Officer (GCEO), Engineer Bayo Ojulari, to appear before it without fail on the new date.

Ojulari is to come along with his predecessor, Mr Mele Kyari, a former Chief Financial Officer, Mr Umar Ajia, Dr Bala Wunti and NNPCL external auditors.

The investigation, which has been ongoing for months, has witnessed twists and turns with the committee issuing several threats and deadlines but getting no articulate responses from the oil firm.

On Wednesday, a member of the committee, Senator Osita Izunaso, moved a motion again seeking compliance by the NNPCL to account for the money.

He was seconded by the former governor of Edo State, Senator Adams Oshiomhole, resulting in the committee setting the April 29 deadline.

Wadada, who appeared frustrated over the apparent uncooperative disposition of the management of the firm, insisted that the N210trn must be accounted for.

According to Wadada, the former GCEO, Kyari, in particular, has a vital role to play in answering the 19 questions previously asked by the committee.

He expressed displeasure that to date, no sufficient answers had been provided to the questions by the management.

Wadada stated, “This committee and, by extension, the Senate, is not satisfied with the blanket explanation given by NNPCL on N103 trillion, which it said stands for liabilities because liabilities are in three components, which are retention fee, legal fee and audit fee.

“Specific amounts of money spent on each of the three components must be stated and explained.

“Detailed explanation is also expected to be given on the N107 trillion NNPCL said it expended on JVC Cash Call, and part of the money allegedly owed by some defunct banks whose names were not mentioned.

“Consequently, it is hereby resolved that the NNPCL is given an additional two weeks to unfailingly appear before this committee. The deadline for compliance is set for Wednesday, April 29, 2026.”

Bauchi-Central Senator, Abdul Ningi, like some of his colleagues, sought to invoke the powers of the Senate to compel the affected officials and individuals to appear before the committee.

“We must treat this matter with the utmost seriousness. The essence of democracy rests significantly on the strength and authority of the legislature.

“Unfortunately, in recent times, there appears to be a growing reluctance by individuals to honour invitations from the National Assembly, leaving members feeling helpless in compelling appearances before committees.”

This wasn’t the first time the senators threatened to compel the NNPCL to answer the questions.

Last year, similar threats were issued, and a few weeks back, the committee issued warnings again, but none succeeded in getting the Ojulari management to comply with the directives of the Wadada panel.