The Senate Committee on Public Accounts has issued a 10-day ultimatum to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, to provide detailed responses to 11 key financial queries arising from discrepancies in the company’s audited financial statements.
The committee warned that failure to adhere to the directive may attract serious constitutional repercussions.
The development follows recent expressions of concern by the committee, chaired by Senator Aliyu Wadada, over what it described as mind-boggling and unacceptable financial irregularities found in NNPCL’s records. These include over N200 trillion in unexplained receivables and undocumented legal and audit fees covering the period from 2017 to 2023.
The committee’s deadline, which expires on July 10, was announced after the NNPCL formally requested a two-month extension to respond to the queries. The request was firmly rejected by the Senate committee.
“It is unacceptable. We have given them 10 working days. This committee will not tolerate delay tactics in matters concerning public funds,” Senator Wadada stated.
The Senate Committee Chairman further emphasized that failure to comply would leave the Senate with no option but to exercise its constitutional oversight authority
“Any attempt to disregard this committee’s directive will amount to contempt of the Senate. We are here to protect public funds, and we will not be deterred,” he added.
PUO Reports will continue to monitor developments as the deadline approaches.
