The Senate Committee on Public Accounts has clarified that the N210 trillion flagged in audit reports spanning 2017 to 2023 as a financial infraction against the Nigerian National Petroleum Company Limited (NNPCL) is unaccounted for, not stolen.
Chairman of the Committee, Senator Aliyu Wadada Ahmed (Nasarawa West), stated this during an investigative session with top management staff of NNPCL on Thursday. He reaffirmed that the Group Chief Executive Officer (GCEO) of the company, Engr. Bayo Ojulari, must appear before the committee to address the audit concerns.
The committee had earlier, on June 26, 2025, directed the GCEO to appear along with other relevant officials by July 10, 2025. However, during Thursday’s hearing, Ojulari was absent reportedly attending an Organisation of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria.
Attempts by the Chief Financial Officer (CFO), Mr. Dapo Segun, to speak on his behalf were rejected by the committee, which insisted that only the GCEO could respond to the audit queries.
Senator Abdul Ningi (Bauchi Central) criticized the GCEO’s repeated absence, stating; “It is very disturbing and unacceptable for the GCEO of NNPCL to dishonour this committee’s invitation again. He has never appeared before us since his appointment. He must appear before this committee as directed.”
Supporting the stance, Senator Adams Oshiomhole (Edo North) added; “Nobody is bigger than the country. The GCEO must honour the committee’s invitation. This is not an appeal but an order.”
Chairman Wadada reiterated that the committee hold no bias against the NNPCL or its leadership but is only carrying out its constitutional duty of ensuring transparency and accountability in the management of public funds.
“We are not accusing anyone of theft. The audit report only shows that N210 trillion is unaccounted for. The GCEO must appear and explain,” he emphasized.
The committee resolved that a new date will be communicated for Engr. Ojulari’s mandatory appearance.
