By Charles Maduka
The Nigerian Senate has expressed outrage over the failure of the Nigerian National Petroleum Company Limited (NNPCL) to appear before the Public Accounts Committee investigating alleged financial irregularities totaling over ₦210 trillion between 2017 and 2023.
Despite being summoned, officials from the NNPCL, including its external auditors, were absent from the session held on Thursday. This absence drew sharp criticism from lawmakers who expected verbal responses to 11 key audit queries already submitted to the company.
In contrast, representatives from anti-corruption and security agencies—including the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC), and the Department of State Services (DSS)—were in attendance.
NNPCL, in a letter signed by its Chief Financial Officer, Dapo Segun, cited an ongoing management retreat and requested a two-month extension to prepare its submissions. The letter, dated June 25, read in part: “Members of the board and senior management are currently out of the office… We request a rescheduling of the session for two months.”
However, the Senate committee, led by Senator Aliyu Wadada, flatly rejected the request and issued a 10-day ultimatum, insisting the company appear by July 10 or face constitutional sanctions.
“For an institution like NNPCL to ask for two months to respond to questions based on its own audited records is unacceptable,” Wadada said. “If they fail to show up by July 10, we will invoke our constitutional powers. Nigerians deserve answers.”
Other lawmakers echoed his stance. Senator Abdul Ningi (Bauchi Central) stressed that the Group CEO of NNPCL, Bayo Ojulari—who succeeded Mele Kyari on April 2—must personally lead the company’s delegation to the next hearing. Senator Onyekachi Nwebonyi (Ebonyi North) described the request as evasive, while Senator Victor Umeh (Anambra Central) warned against attempts to undermine the authority of the Senate.
“If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog,” Umeh added.
Just last week, NNPCL officials faced intense scrutiny over what the committee described as “mind-boggling” figures. These included ₦103 trillion in accrued expenses with no supporting documents, such as ₦600 billion reportedly spent on retention fees, legal costs, and auditing.
The Senate also flagged another ₦103 trillion listed under receivables and questioned inconsistencies between earlier financial statements and a recently submitted revised version.
With mounting public interest and legislative pressure, all eyes are now on the July 10 deadline, as the Senate insists on full transparency and accountability from the NNPCL.
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