By Hamilton Nwosu
The Nigerian Senate’s Public Accounts Committee has issued a stern three-week deadline to the Nigerian National Petroleum Company Limited (NNPCL) to address audit queries involving N210 trillion in alleged financial irregularities spanning 2017 to 2023.
Ahmed Wadada, chairman of the committee, issued the directive on Tuesday during a session with Bayo Ojulari, the group chief executive officer (GCEO) of the NNPCL.
Wadada during the committee’s session on Tuesday, demanded detailed explanations, including a breakdown of liabilities by joint venture (JV) partners and clear reconciliation records, warning that failure to comply could lead to anti-graft agency involvement.
Wadada clarified that the amount was not considered missing or stolen but must be accounted for in line with the recommendations of the office of the auditor-general.
He said: “This committee had not at any time said the N210 trillion in question, as far as the queries are concerned, was stolen or missing.
“What the committee is doing is requiring investigation on queries raised in the report in line with its constitutional mandate.”
The development came after Ojulari finally appeared before the committee after multiple failed invitations.
The NNPCL GCEO requested more time to properly examine the issues raised, noting that he had only spent just over 100 days in office.
Ojulari stated: “I’m just over 100 days in office as GCEO of NNPCL.
“I need more time to dig into the technicalities and perspectives of the issues. Your explanation has provided me with a new perspective on the issues.
“I will engage the external auditors and other relevant groups so we can reconcile the details and respond appropriately.”
Although Ojulari requested four weeks, the committee gave him three weeks to forward written responses to all 19 audit queries.
Wadada said the committee would invite him and other members of the NNPCL management for a physical appearance afterward.
