…Says funds are unaccounted for, not stolen
…Warns against defiance, insists on transparency
The Senate Committee on Public Accounts on Thursday clarified that the N210 trillion financial infraction cited in audit reports from 2017 to 2023 was “unaccounted for” by the Nigerian National Petroleum Company Limited (NNPCL), but not declared as stolen.
Chairman of the Committee, Senator Aliyu Wadada Ahmed (Nasarawa West), made this known during an investigative session with top management staff of NNPCL, as he reaffirmed the Senate’s directive for the Group Chief Executive Officer (GCEO), Engr. Bayo Ojulari, to personally appear before the committee to address the allegations and audit queries.
Despite prior notice, the GCEO was absent again, reportedly attending an Organisation of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria. The committee, however, rejected attempts by the Chief Financial Officer (CFO), Mr. Dapo Segun, to speak on his behalf.
Senator Abdul Ningi (Bauchi Central) expressed strong disapproval over Ojulari’s repeated absence, saying:
“It is unacceptable that the GCEO continues to dishonour this committee. He received our invitation before the OPEC meeting and should have prioritized accountability before this Senate.”
Backing the call for strict compliance, Senator Adams Oshiomhole (Edo North) stated:
“Nobody is bigger than the country. This is not an appeal—it’s a directive. He must appear or face compulsory measures.”
The committee first issued the summon on June 26, following its initial session with NNPCL management, directing the GCEO to appear on July 10 with relevant officers to address the financial discrepancies and defend the audit queries.
Chairman Wadada emphasized that the committee’s actions are not personal but rooted in its constitutional duty:
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“We have nothing against anyone in NNPCL. We are simply demanding accountability for public funds as mandated by law. The audit report didn’t say NNPCL stole the money—it said it must be accounted for.”
The committee resolved that the GCEO must appear on a new date to be communicated soon, warning that any further defiance would be met with sterner actions.
