The Senate Committee on Public Accounts has issued a three-week ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) to respond to audit queries involving an unaccounted N210 trillion spanning the years 2017 to 2023.
The directive was handed down on Tuesday to the Group Chief Executive Officer (GCEO) of NNPCL, Engr. Bayo Ojulari, during his appearance before the committee in Abuja.
Ojulari, who had previously failed to honour several invitations, began by offering an apology to the lawmakers.
Ojulari appealed for more time to respond adequately to the 19 audit queries raised against the corporation, explaining that he has been in office for just over 100 days and needs time to properly assess the issues.
“I need to fully understand the queries and engage a team to reconcile the records.
“This includes working with external auditors and other relevant stakeholders to ensure our responses are accurate and comprehensive,” Ojulari said.
While he initially requested four weeks, the committee granted him three.
Committee Chairman, Senator Ahmed Wadada Aliyu (Nasarawa West), insisted that the NNPCL must provide a detailed explanation of the N210 trillion in question, which is made up of N103 trillion in liabilities and N107 trillion in assets, according to the audit reports.
Senator Wadada clarified that the Senate had not alleged theft or missing funds but is simply carrying out its constitutional duty to investigate issues flagged in the reports.
“This committee has never said the N210 trillion was stolen. What we are doing is investigating discrepancies identified in the audit reports.
“NNPCL must submit written responses to all 19 queries within three weeks, after which the GCEO and other top executives will be summoned for a physical appearance and further questioning,” he said.
