The Nigerian Senate Committee on Public Accounts has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) following the company’s failure to appear before lawmakers probing alleged financial discrepancies amounting to over N210 trillion in its audited financial reports from 2017 to 2023.
Despite being formally summoned, NNPCL officials and external auditors failed to attend Thursday’s session. In contrast, representatives from the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Department of State Services (DSS) were present.
Reading a letter dated June 25 from NNPCL’s Chief Financial Officer, Dapo Segun, the committee was informed that the company’s top executives were away on a management retreat. The letter also requested a two-month extension to enable the collation of relevant documents and responses.
“Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for two months from now… Members of the board and senior management team are currently out of the office for a retreat,” the letter stated.
Lawmakers, however, rejected the request, describing it as evasive and unacceptable.
Chairman of the committee, Senator Aliyu Wadada, insisted that NNPCL had already been served 11 specific audit queries and was only expected to provide oral responses.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada said. “If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers.”
Senator Abdul Ningi (Bauchi Central) stressed that the Group Chief Executive Officer of NNPCL, Bayo Ojulari, who assumed office on April 2, 2025, must personally appear before the committee at the rescheduled session.
Supporting the stance, Senator Onyekachi Nwebonyi (Ebonyi North) remarked that the request for more time appeared to be an attempt to evade accountability.
“We will still grant them a fair hearing, but they must appear by July 10,” Nwebonyi said.
Senator Victor Umeh (Anambra Central) issued a stern warning to NNPCL: “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”