The Senate Committee on Public Accounts has clarified that the ₦210 trillion financial infraction reported in the audit reports for 2017 to 2023 against the Nigerian National Petroleum Company Limited (NNPCL) involves unaccounted funds, not allegations of theft.
At an investigative hearing held Thursday, the committee, chaired by Senator Aliyu Wadada Ahmed (Nasarawa West), insisted that the Group Chief Executive Officer (GCEO) of NNPCL, Engr. Bayo Ojulari, must appear in person to respond to the audit queries and offer explanations on the reported financial discrepancies.
The committee had earlier, on 26 June, directed Ojulari to appear on 10 July, 2025, alongside relevant officers, to account for the infractions and defend other issues raised in the audit reports.
However, during Thursday’s session, NNPCL’s Chief Financial Officer (CFO), Mr. Dapo Segun, attempted to speak on behalf of the GCEO, who is attending an OPEC meeting in Vienna, Austria. The committee rejected the move, reiterating that only the GCEO can address the matter.
Senator Abdul Ningi (Bauchi Central) was the first to object, accusing NNPCL of disrespecting the Senate by repeatedly failing to present its GCEO for questioning.
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“It is disturbing and unacceptable that the GCEO has never appeared before this committee. The invitation was sent before the OPEC meeting, and we expect him to prioritize accountability to the Senate,” he said.
Also speaking, Senator Adams Oshiomhole (Edo North) warned against disregarding Senate directives.
“Nobody is above the country. The GCEO should take advantage of this invitation while it remains voluntary. This is not an appeal it is a directive,” Oshiomhole said.
Chairman Wadada reiterated the committee’s position, stating that the GCEO must appear before the panel on a new date to be communicated.
He emphasized that the committee’s role is not to witch-hunt individuals but to uphold accountability and transparency in the management of public funds.
“We are not saying NNPCL stole ₦210 trillion. We are saying the company must account for the funds, as flagged in the audit reports,” Wadada explained.
He concluded by stressing the Senate’s constitutional duty to ensure Integrity in public spending, adding that the NNPCL’s leadership must respect the process.
