Senate Sets April 29 Deadline for NNPCL to Explain N210 Trillion Audit Queries

By Our Reporter

The Senate, through its Public Accounts Committee, has set April 29, 2026 as the deadline for the management of the Nigerian National Petroleum Company Limited to appear before it and account for the alleged unaccounted N210 trillion contained in audit reports covering 2017 to 2023.

The committee specifically directed that the Group Chief Executive Officer of NNPCL, Engineer Bayo Ojulari, should appear alongside the immediate past GCEO, Mele Kyari, former Chief Financial Officer Umar Ajia, Dr. Bala Wunti, and external auditors of the national oil company on the scheduled date without fail.
The resolution followed a motion moved by Senator Osita Izunaso (Imo West) and seconded by Senator Adams Oshiomhole (Edo North).
Based on the resolution, the Chairman of the committee, Senator Aliyu Wadada (Nasarawa West), stressed that the unaccounted N210 trillion listed in the audit reports must be fully explained by the NNPCL management, especially the administration led by Mele Kyari.
He stated that the explanations provided by the company in response to 19 audit queries were unsatisfactory, noting that Nigerians deserve clear and detailed accountability.
According to him, the committee is not convinced by the blanket explanation that N103 trillion represents liabilities, stressing that liabilities are made up of retention fees, legal fees, and audit fees, which must be individually itemised and explained.
He further demanded clarification on the N107 trillion reportedly spent on Joint Venture (JV) cash calls and funds allegedly owed by defunct banks whose names were not disclosed.
Consequently, the committee granted the NNPCL an additional two weeks to appear before it, fixing Wednesday, April 29, 2026 as the final deadline for compliance.
Earlier, a committee member, Senator Abdul Ningi (Bauchi Central), urged the Senate to invoke its constitutional powers to compel the appearance of NNPCL officials after repeated failures to honour invitations.
He stressed that the legislature must assert its authority, warning that democratic accountability is weakened when individuals ignore parliamentary summons.