The Senate’s Public Accounts Committee has imposed a deadline of 10 days on the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, requiring him to address 11 significant financial inquiries concerning inconsistencies in the company’s audited financial reports.
The Senate cautioned that non-compliance with this demand could lead to severe constitutional repercussions.
It’s worth mentioning that the committee, led by Senator Aliyu Wadada, recently expressed dissatisfaction over what it termed astonishing and intolerable financial discrepancies found in NNPCL’s records, including over N200 trillion in unexplained receivables and non-documented legal and audit expenses from the years 2017 to 2023.
The deadline, which expires on July 10, follows NNPCL’s official request on Thursday for a two-month extension to respond to the inquiries, a request that the committee categorically denied.
“It is unacceptable. We have granted them 10 working days. This committee will not permit any delaying tactics regarding matters involving public funds,” Wadada stated.
The chairman of the Senate Committee warned that should the NNPCL executive fail to respond, the Senate would be obliged to exercise its constitutional oversight authority.
Any attempt to ignore this committee’s directive will be considered contempt of the Senate. We are committed to safeguarding public funds, and we will not be discouraged,” he emphasized.