The Senate Committee on Public Accounts has issued a 10-day deadline to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to respond to 11 serious financial queries arising from discrepancies in the company’s audited financial records.
The committee, chaired by Senator Aliyu Wadada, warned that failure to comply with the directive could trigger constitutional consequences.
Earlier, the committee had raised alarm over what it described as “mind-boggling and unacceptable” financial irregularities in NNPCL’s books, including over ₦200 trillion in unexplained receivables and undocumented legal and audit fees from 2017 to 2023.
NNPCL had on Thursday requested a two-month extension to respond, but the committee rejected the plea, insisting on a July 10 deadline.
“It is unacceptable. We have given them 10 working days. This committee will not tolerate delay tactics in matters concerning public funds,” Senator Wadada stated.
He further warned that failure to meet the deadline would amount to contempt of the Senate and may prompt the invocation of its constitutional oversight powers.
“We are here to protect public funds, and we will not be deterred,” he added.
