Senate Summons NNPCL Over N210trn Audit Queries, Sets April 29 Deadline

The Senate has issued a fresh directive to the Nigerian National Petroleum Company Limited (NNPCL), ordering its management to appear before the Committee on Public Accounts on April 29, 2026, to explain discrepancies amounting to N210 trillion flagged in audit reports from 2017 to 2023.

The committee mandated the Group Chief Executive Officer, Bayo Ojulari, to lead the delegation, alongside former GCEO, Mele Kyari, ex-Chief Financial Officer Umar Ajia, Dr. Bala Wunti, and the company’s external auditors.

The decision followed a motion sponsored by Senator Osita Izunaso and seconded by Senator Adams Oshiomhole.

Chairman of the committee, Senator Aliyu Wadada, said the panel was dissatisfied with the responses provided by NNPCL to 19 audit queries, describing them as vague and lacking in detail.

He particularly faulted the company’s explanation of N103 trillion classified as liabilities, insisting that the figures must be broken down into specific components such as retention fees, legal fees, and audit fees.

Wadada also demanded clarity on the remaining N107 trillion, which NNPCL attributed to Joint Venture Cash Calls and debts allegedly owed by unnamed defunct banks.

“The explanations are not sufficient. Nigerians deserve clear, detailed and verifiable accounts,” he said, stressing that the committee would not accept blanket justifications.

The Senate warned that the NNPCL must comply with the directive without fail, following repeated instances of non-appearance.

Earlier, Senator Abdul Ningi called for the enforcement of the National Assembly’s powers to compel attendance, warning that continued disregard for legislative invitations weakens democratic institutions.