The Senate Committee on Public Accounts has clarified that the N210 trillion financial infraction raised against the Nigerian National Petroleum Company Limited (NNPCL) in the audit reports from 2017 to 2023 remains unaccounted for by the company.
But the committee has insisted that the Group Chief Executive Officer (GCEO) of NNPCL, Engineer Bayo Ojulari, must appear before it to provide explanations for the financial infractions and other queries raised against the company.
During an investigative session with top management staff of NNPCL on Thursday, the committee chairman, Senator Aliyu Wadada Ahmed, and members of the committee emphasized that the GCEO’s presence is required to address the issues.
It would be recalled that the committee had previously directed Ojulari to appear before it on July 10, 2025, along with relevant officers, to account for the financial infraction and defend other queries raised in the audit reports.
Meanwhile, when the CFO, Mr. Dapo Segun, attempted to make a submission on behalf of the GCEO, who was attending an OPEC meeting in Vienna, Austria, the committee refused.
Specifically, Senator Abdul Ningi and Senator Adams Oshiomhole expressed their disappointment with the GCEO’s absence, with Ningi stating that it was “disturbing and unacceptable” for Ojulari to disregard the committee’s invitation.
Consequently, the committee resolved that the GCEO must appear before it on a date to be communicated, with Senator Wadada emphasizing that the committee is only doing its constitutionally mandated duty of ensuring probity and accountability in the spending of public funds.
The committee clarified that it is not accusing NNPCL of theft but rather requesting the company to account for the N210 trillion financial infraction.
“We don’t have anything against anybody in NNPCL,” Senator Wadada said. “We are just carrying out our constitutional mandate of ensuring probity and accountability on spending of public funds.
“NNPCL must account for the N210 trillion financial infraction, and the GCEO must appear before this committee to give an account and offer explanations on other queries raised.”
