The Nigerian Senate Committee on Public Accounts has delivered a stern warning to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, imposing a strict 10-day deadline to provide comprehensive answers to 11 critical financial inquiries. The committee has cautioned that failure to comply could result in severe constitutional repercussions.
Led by Senator Aliyu Wadada, the committee recently voiced profound dissatisfaction over what it described as “astonishing and intolerable†financial irregularities identified within NNPCL’s audited financial statements. These discrepancies reportedly include over ₦200 trillion in unexplained receivables and unrecorded legal and audit fees spanning from 2017 to 2023.
The ultimatum, which is set to expire on July 10, comes in the wake of NNPCL’s formal request on Thursday for a two-month extension to address the committee’s inquiries. This request was unequivocally rejected by the Senate panel.
“It is unacceptable. We have given them 10 working days. This committee will not tolerate delay tactics in matters concerning public funds,†Senator Wadada declared, emphasizing the urgency of the situation.
The Senate Committee chairman further warned that should the NNPCL boss fail to respond within the stipulated timeframe, the Senate would be compelled to invoke its constitutional oversight powers.
“Any attempt to disregard this committee’s directive will amount to contempt of the Senate. We are here to protect public funds, and we will not be deterred,†he added, underscoring the committee’s resolve to ensure accountability in the management of public finances.
