The Nigerian Senate is demanding urgent answers after officials of the Nigerian National Petroleum Company Limited (NNPCL) failed to appear before the Senate Committee on Public Accounts to explain alleged discrepancies totaling N210 trillion in audited reports spanning 2017 to 2023.
Despite being summoned, no NNPCL officials or external auditors attended Thursday’s critical session. However, representatives from key anti-corruption agencies like the EFCC, ICPC, and DSS were present. In response to NNPCL’s absence, the Senate issued a 10-day ultimatum for the company’s top executives to appear by July 10, or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read during the proceedings. It cited a management retreat and requested a two-month delay to collate documents. “We hereby request your kind consideration to reschedule the engagement for two months… as the senior management team is currently out of office,” Segun stated.
This excuse was rejected outright by the Senate Committee. Chairman Aliyu Wadada emphasized that the hearing required verbal clarifications on 11 pre-submitted questions—not fresh documentation. “Asking for two months to respond to questions from your own audit is unacceptable,” he said, adding that failure to comply would trigger legislative sanctions.
Other lawmakers were equally outraged. Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO Bayo Ojulari, who succeeded Mele Kyari in April, must personally attend the next hearing. Senator Victor Umeh (Anambra Central) added, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
The committee is probing a staggering ₦103 trillion in unexplained expenses, including ₦600 billion in retention and legal fees. Another ₦103 trillion was listed as receivables without supporting documentation. A revised audit report submitted just before the last hearing contradicted earlier figures, sparking further scrutiny.
The next hearing on July 10 is expected to be decisive. Lawmakers have made it clear: failure to provide direct answers will result in consequences.
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