The Senate, through its committee on Public Accounts, has set April 29, 2026, as the deadline for the management of the Nigerian National Petroleum Company Limited to appear before it over the yet-to-be-accounted N210 trillion contained in audit reports from 2017 to 2023. The committee specifically declared that the Group Chief Executive Officer, Bayo Ojulari, should lead the immediate past GCEO, Mele Kyari, former Chief Financial Officer, Umar Ajia, Dr Bala Wunti, and external auditors of the national oil company to appear on the said date unfailingly.
The resolutions of the committee followed a motion moved by Senator Osita Izunaso and seconded by Senator Adams Oshiomhole. Committee Chairman Senator Aliyu Wadada emphasised that the unaccounted N210 trillion must be accounted for by the management of the agency, particularly the immediate past management led by Mele Kyari. According to him, explanations or answers given by NNPCL to the 19 queries raised on the unaccounted N210 trillion were unacceptable, as Nigerians are entitled to convincing and detailed explanations.
Wadada stated that the committee and the Senate were not satisfied with the blanket explanation given by NNPCL on N103 trillion, which the company said stands for liabilities, noting that liabilities have three components: retention fee, legal fee, and audit fee. He demanded that specific amounts spent on each of the three components must be stated and explained. Detailed explanation was also demanded on the N107 trillion NNPCL said it expended on Joint Venture Cash Call and part of the money allegedly owed by some defunct banks whose names were not mentioned.
Earlier, Senator Abdul Ningi called for the invocation of the powers of the National Assembly to compel the appearance of NNPCL management, having failed repeatedly to appear before the committee. He stressed that the essence of democracy rests significantly on the strength and authority of the legislature, expressing concern over the growing reluctance by individuals to honour invitations from the National Assembly. The deadline now places significant pressure on the national oil company to provide clarity on the massive sums in question.
