The Senate Committee on Public Accounts has summoned the Nigerian National Petroleum Company Limited to explain alleged financial discrepancies amounting to ₦210 trillion identified in its audited financial statements.
The committee directed the company’s Group Chief Executive Officer, Bayo Ojulari, to appear before it alongside former GCEO Mele Kyari, former Chief Financial Officer Umar Ajia, Bala Wunti, and the company’s external auditors.
The directive followed a motion moved by Osita Izunaso and seconded by Adams Oshiomhole.
Chairman of the committee, Aliyu Wadada, said the explanations previously provided by NNPC on 19 audit queries were unsatisfactory, stressing that the funds must be fully accounted for.
According to him, the committee is not convinced by the company’s explanation of ₦103 trillion classified as liabilities. He noted that liabilities should be clearly broken down into components such as retention fees, legal fees, and audit fees, with detailed figures provided for each.
Wadada also demanded clarity on the remaining ₦107 trillion, which NNPC claimed was spent on joint venture cash calls and debts allegedly owed by unnamed defunct banks.
The committee has given the company a two-week deadline, setting April 29, 2026, for compliance.
Also speaking, Abdul Ningi called for stronger measures to ensure that NNPC officials honour the invitation, warning against what he described as a growing trend of public officials ignoring summons from the National Assembly.
He emphasized that legislative oversight is essential to the functioning of democracy and must be upheld.
