The panel said, “Legal fees were accrued without any explanation or documentation regarding the legal services rendered. The auditors’ fees raise similar questions. There are no clear justifications. Everything we’ve seen and heard from the audited financial statements is troubling.”
Senator Wadada further stated that the primary concern is with the receivables.
“Trillions of naira are in question, and the new document they presented this afternoon doesn’t match what’s already in their audited report. It’s completely independent and contradictory,” he said.
The committee stated that the concerns stem directly from the analysis of NNPC’s audited financial statements spanning 2017 to 2023.
The committee has now handed over a list of 11 queries to NNPC’s finance team and given them one week to return with answers.
Senator Wadada also warned that the matter would not be swept under the rug, especially as the Tinubu administration, under its Renewed Hope agenda, seeks transparency and accountability in public finance.