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The Senate Committee on Public Accounts on Wednesday gave the management of Nigerian National Petroleum Company Limited (NNPCL) up till April 29 to account for the N210 trillion flagged in audit reports from 2017 to 2023.
The committee directed the Group Chief Executive Officer of NNPCL, Bayo Ojulari, to appear alongside the immediate past GCEO, Mr. Melee Kyari, on the scheduled date unfailingly.
Also expected to appear are former Chief Financial Officer, Umar Ajia; Dr. Bala Wunti and the external auditors of the national oil company.
The committee’s resolutions followed a motion moved by Senator Osita Izunaso and seconded by Senator Adams Oshiomhole at a hearing in Abuja.
The Chairman of the committee, Senatot Aliyu Wadada, said the N210 trillion in question must be fully accounted for by the company’s management.
Wadada said the explanations provided by NNPCL to the 19 audit queries were unsatisfactory, noting that Nigerians deserved clear, detailed and convincing responses.
“This committee, and by extension, the Senate, is not satisfied with the blanket explanation given by NNPCL on N103 trillion, which it claimed represents liabilities.
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“Liabilities have components such as retention fees, legal fees and audit fees. Specific amounts spent on each of these components must be clearly stated and explained.
“Detailed explanations are also required for the N107 trillion which NNPCL said was expended on joint venture cash calls as well as funds allegedly owed by some defunct banks whose identities were not disclosed.
“Consequently, it is resolved that NNPCL is given an additional two weeks to appear before this committee unfailingly.
“The deadline for compliance is Wednesday, April 29,” Wadada stated.
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