Senate Issues 10-Day Deadline to NNPCL CEO Over Missing ₦200 Trillion
By Sholeye Ayodele, Lagos
26 June, 2025
The Senate Committee on Public Accounts has given a 10-day deadline to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to address 11 major financial concerns linked to discrepancies in the company’s audited financial reports. The committee warned that failure to comply could result in serious constitutional repercussions.
Chaired by Senator Aliyu Wadada, the committee previously expressed deep concern over what it described as alarming and unacceptable financial irregularities in NNPCL’s accounts. These include over ₦200 trillion in unaccounted receivables and undocumented expenditures on legal and audit services between 2017 and 2023.
The 10-day ultimatum, which expires on July 10, followed NNPCL’s request for a two-month extension to respond — a request the committee outrightly denied. Senator Wadada stated, “This is unacceptable. We have given them 10 working days. This committee will not tolerate any stalling tactics on matters related to public finances.”
He cautioned that if the NNPCL chief fails to meet the deadline, the Senate would exercise its constitutional oversight authority. “Ignoring this directive amounts to contempt of the Senate. We are mandated to safeguard public resources, and we will not back down,” he emphasized.
The senator also criticized the absence of NNPCL’s external auditors at the hearing and stressed the need for transparency and accountability.
The session was attended by representatives of the Economic and Financial Crimes Commission (EFCC), the Nigeria Financial Intelligence Unit (NFIU), the Department of State Services (DSS), and other major stakeholders, who were present as observers.
