The Nigerian Senate has summoned the management of Nigerian National Petroleum Company Limited (NNPCL) to appear before its Public Accounts Committee over N210 trillion in liabilities and expenditures flagged in recent audit reports.
The committee fixed April 29, 2026, as the deadline for the company’s leadership to provide detailed explanations regarding the financial discrepancies identified in its audited statements spanning 2017 to 2023.
The directive requires the Group Chief Executive Officer, Bayo Ojulari, to appear alongside his predecessor, Mele Kyari, former Chief Financial Officer Umar Ajia, as well as Bala Wunti and the company’s external auditors.
The resolution followed a motion moved by Osita Izunaso and seconded by Adams Oshiomhole during a committee session.
Chairman of the committee, Aliyu Wadada, said the Senate was dissatisfied with the explanations provided by the company in response to 19 audit queries.
According to Wadada, the breakdown of N103 trillion listed as liabilities lacked sufficient detail, noting that such figures must be clearly categorised into components such as retention fees, legal fees, and audit fees.
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He further stated that the committee expects a comprehensive account of the N107 trillion reportedly spent on Joint Venture Cash Calls, including clarification on funds allegedly owed by unnamed defunct banks.
“This committee is not satisfied with the blanket explanations provided. Every component must be clearly stated and justified,” Wadada said.
The Senate also raised concerns over what it described as a growing trend of public officials failing to honour legislative summons.
Abdul Ningi stressed the need to uphold the authority of the legislature, warning that continued disregard for parliamentary invitations could weaken democratic oversight.
“We must treat this matter with utmost seriousness. The strength of democracy depends significantly on the authority of the legislature,” he said.
The latest development underscores increasing scrutiny of public financial management in Nigeria’s oil sector, with lawmakers insisting on transparency and accountability in the handling of national resources.