The Senate, through its Committee on Public Accounts, has set April 29, 2026, as deadline for the Nigerian National Petroleum Company Limited, NNPCL, to account for the missing N210 trillion flagged in audit reports of 2017 to 2023.
Chairman of the committee, Senator Aliyu Wadada (SDP Nasarawa West), issued the ultimatum on Wednesday after a meeting at the National Assembly, Abuja.
He directed NNPCL Group Chief Executive Officer, Engr. Bayo Ojulari, to appear before the committee on the said date, unfailingly, with his predecessor, Mele Kyari, and other key past officials like former Chief Financial Officer, CFO, Umar Ajia, Managing Director of the Petroleum Products Marketing Company, PPMC, Dr Bala Wunti, and external auditors of the national oil company.
The resolutions of the committee followed a motion moved to that effect by Senator Osita Izunaso (APC Imo West) and seconded by Senator Adams Oshiomhole (APC Edo North).
Wadada said the committee was not satisfied with earlier responses from the oil firm on 19 audit queries, saying Nigerians deserve convincing, detailed explanations, not blanket statements.
The committee specifically rejected NNPCL’s description of N103 trillion as “liabilities” without a breakdown, explaining that the liabilities have three components—retention fee, legal fee and audit fee.
While demanding the exact amount spent on each component and supporting documentation, he also called for clarity on N107 trillion NNPCL said was spent on Joint Venture Cash Calls.
“This committee and by extension, the Senate, is not satisfied with blanket explanation given by NNPCL on N103trillion which it said, stands for liabilities because liabilities are in three components which are retention fee, legal fee and audit fee.
“Specific amount of money spent on each of the three components, must be stated and explained.
“Detailed explanation is also expected to be given on the N107trillion 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,“ Wadada stressed.
Earlier before the resolution, a member of the committee, Senator Abdul Ningi (PDP Bauchi Central), called for invocation of powers of the National Assembly to compel the appearance of NNPCL management, having failed repeatedly to appear before the panel.
“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,” he said.
