On Wednesday, the Senate said the answers given by the Nigerian National Petroleum Company Limited (NNPCL) to the 19 queries raised on the unaccounted N210 trillion were unacceptable, as Nigerians are entitled to convincing and detailed explanations.
The Chairman of the committee on Public Accounts, Senator Aliyu Wadada (Nasarawa West), emphasized that the unaccounted N210trillion by NNPCL as contained in the audit reports of 2017 to 2023, must be accounted for by management of the agency, particularly the immediate past management led by Mele Kyari.
The committee has set April 29, 2026 as deadline for the appearance of management of the Nigerian National Petroleum Company Limited (NNPCL) before it, to account for the yet to be accounted N210trillion .
The resolutions of the committee followed a motion moved to that effect by Senator Osita Izunaso (Imo West) and seconded by Senator Adams Oshiomhole (Edo North).
Wadada said that the Group Chief Executive Officer (GCEO) of NNPCL, Engineer 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 it on the affected date.
He added:”This committee and by extension, the Senate, is not satisfied with the blanket explanation given by NNPCL on N103trillion which it said , stands for liabilities because liabilities are in three components which are retention fee, legal fee and audit fee .
“Specific amounts of money spent on each of the three components must be stated and explained.
“Detailed explanation is also expected to be given on the N107trillion , NNPCL said it spent on JVC cash calls and part of the money allegedly owed by some defunct banks whose names were not mentioned.
“Consequently, it is hereby resolved that the NNPCL is given an additional two weeks to unfailingly appear before this committee. The deadline for compliance is set for Wednesday, April 29, 2026.”
Before the resolution, a member of the committee, Senator Abdul Ningi (Bauchi Central), called for invocation of powers of the National Assembly to compel the appearance of NNPCL management, having failed severally to appear before it.
He added: “We must treat this matter with the utmost seriousness. The essence of democracy rests significantly on the strength and authority of the legislature.
“Unfortunately, in recent times, there appears to be a growing reluctance by individuals to honour invitations from the National Assembly, leaving members feeling helpless in compelling appearances before committees.”
