July 10, 2025

The Senate on Thursday clarified that the alleged N210 trillion financial infraction raised against Nigerian National Petroleum Company Limited  (NNPC ltd) in the 2017-2023 audit report had yet to be accounted for by the company.

Chairman, Senate Committee on Public Accounts, Sen. Aliyu Wadada, made the clarification at the resumed hearing of the committee on the 2017-2023 Office of the Auditor-General of the Federation’s audit on expenditure of ministries, departments and agencies (MDAs).

Wadada maintained that NNPC ltd did not account for the said fund as raised by the reports, contrary to media reports that the money had been stolen by the company.

The committee had, at the investigative session with management of NNPC ltd on June 26, directed the company’s Group Chief Executive Officer (GCEO), Bayo Ojulari, to appear before it on July 10.

Ojulari’s appearance, the senate said, was to enable him to account for the fund and answer other queries raised against NNPC ltd in the audit report.

Based on the directive, the committee, at the resumed hearing on Thursday, did not allow NNPCL’s Chief Financial Officer, Mr. Dapo Segun, to make any presentation on Ojulari’s behalf.

The NNPC Ltd GCEO was said to have travelled for Organisation of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria.

The committee, via its chairman, therefore, directed Ojulari to appear before it unfailingly on a date to be communicated to explain the alleged financial infractions and other queries raised against NNPC ltd.

Wadada, before making the declaration, clarified that the committee did not have anything against anyone in NNPC ltd, but was only discharging its constitutional duty of making Nigeria work by investigating how public funds were expended by MDAs.

“I don’t have anything against anybody in NNPC ltd, just as other members of the committee, but we are just carrying out our constitutional mandate of ensuring probity and accountability in the spending of public funds.

“NNPC ltd, as clearly stated in the audit report of 2017 to 2023, must account for the N210 trillion financial infraction.

“This committee never said NNPC Ltd stole the money but it is requesting it to account for the fund.

“The GCEO of NNPC Ltd must appear before this committee to give account and offer explanation on other queries raised,” he said.

Sen. Abdul Ningi had earlier accused NNPC Ltd of taking the committee for granted with recurring absence of its GCEO from important sessions.

“It is very disturbing and unacceptable for the GCEO of NNPC ltd to dishonour this committee’s invitation for his appearance again.

“He has never appeared before this committee since his appointment, which is really disturbing.

“Invitation for his appearance before the committee was sent to him before the OPEC meeting.

“As far as we are concerned, he is supposed to use his discretion on where to be here today, which should be before the Senate of the Federal Republic of Nigeria.

“He must appear before this committee as directed,” Ningi said

Also, Sen. Adams Oshiomhole frowned at NNPC Ltd GCEO’s persistent failure to appear before the committee.

“Nobody is bigger than the country, and anybody who feels so has no business in government.

“NNPC ltd GCEO should make good use of the window of invitation for appearance being offered him now before the door is shut against him.

“The committee is not appealing but ordering him to appear before it which, in his own interest, must be obeyed,” Oshiomhole said. (NAN)