Senate Demands NNPCL Explain N210 Trillion Audit Controversy

The Nigerian Senate has mandated the Nigerian National Petroleum Company Limited (NNPCL) to provide a comprehensive explanation regarding a N210 trillion controversy stemming from an audit report. The Senate Public Accounts Committee, chaired by Aliyu Wadada, set a compliance deadline for April 29, 2026.

The committee directed NNPCL's current CEO Bayo Ojulari, former CEO Mele Kyari, former Chief Financial Officer Umar Ajia, and Bala Wunti, the company's external auditor, to appear before them. This resolution followed a motion by Senator Osita Izunaso and was seconded by Senator Adam Oshiomhole.

The committee expressed dissatisfaction with the blanket explanations provided by NNPCL regarding N103 trillion in liabilities, which include legal and audit fees. They also seek clarification on N107 trillion in expenditures related to cash calls to a defunct bank, whose name was not disclosed.

Senator Abdul Ningi emphasized the need for NNPCL to treat this matter with utmost seriousness, highlighting the importance of accountability in a democratic setting.