Senate summons NNPCL over ₦210trn audit queries, fixes April 29 deadline

The Senate, through its Committee on Public Accounts, has issued a summons to the management of the Nigerian National Petroleum Company Limited, directing them to appear before it on or before April 29 to explain discrepancies flagged in audit reports.

The committee is seeking accountability over a reported ₦210 trillion highlighted in financial audits covering the period between 2017 and 2023.

Lawmakers specifically instructed the Group Chief Executive Officer of NNPCL, Bayo Ojulari, to appear before the panel alongside the immediate past GCEO, Mele Kyari, without fail on the scheduled date.

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

The News Agency of Nigeria reports that the committee’s resolutions followed a motion moved by Senator Osita Izunaso (Imo West) and seconded by Senator Adams Oshiomhole (Edo North) on Wednesday.

Chairman of the committee, Senator Aliyu Wadada (Nasarawa West), said that the N210 trillion in question, as contained in the audit reports, must be fully accounted for by the company’s management.

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

“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, April 29,” Wadada said.

Earlier, a member of the committee, Senator Abdul Ningi (Bauchi Central), had called for the invocation of the National Assembly’s powers to compel the appearance of NNPCL officials, citing repeated failures to honour 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 said.

(NAN)