Senate Gives NNPCL 10-Day Ultimatum to Explain Missing ₦200 Trillion

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, demanding explanations for over ₦200 trillion in financial discrepancies identified in the company’s audited accounts.

The directive, delivered by the committee chaired by Senator Aliyu Wadada, follows a series of unresolved queries involving suspicious receivables and undocumented legal and audit fees spanning from 2017 to 2023. The Senate has made it clear that failure to comply with the deadline, which expires on July 10, could result in serious constitutional consequences for the NNPCL leadership.

The NNPCL had earlier requested a two-month extension to address the issues, but the committee rejected the plea, citing a lack of tolerance for delay tactics. “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 warned that non-compliance would be treated as contempt of the Senate and affirmed the committee’s commitment to holding public institutions accountable. “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,” Wadada said.