The Senate Committee on Public Accounts has issued a 10-day ultimatum to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to respond to 11 critical financial queries involving discrepancies in the company’s audited financial statements.
The committee, chaired by Senator Aliyu Wadada, warned that failure to comply with the directive could lead to serious constitutional consequences, stressing that the National Assembly will not condone any delay in matters involving public funds.
The queries cover unexplained receivables and undocumented legal and audit fees totaling over N200 trillion, spanning the financial years 2017 to 2023. Lawmakers have described the irregularities as “mind-boggling and unacceptable.”
NNPCL had earlier requested a two-month extension to provide a comprehensive response, but the Senate committee rejected the plea, insisting the company must comply within 10 working days, with the deadline set to expire on July 10.
“It is unacceptable. We have given them 10 working days. This committee will not tolerate delay tactics in matters concerning public funds,” Senator Wadada stated.
He further cautioned that any attempt by the NNPCL leadership to ignore the directive would be treated as contempt of the Senate.
“Any attempt to disregard this committee’s directive will amount to contempt of the Senate. We are here to protect public funds, and we will not be deterred,” he added.
The Senate is expected to take further action should the NNPCL fail to meet the deadline.
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