The Senate Committee on Public Accounts has imposed a 10-day deadline on the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to address 11 significant financial inquiries concerning inconsistencies in the company’s audited financial statements.
The Senate cautioned that noncompliance with this directive may lead to severe constitutional repercussions.
Naijaonpoint reports that the committee, led by Senator Aliyu Wadada, recently expressed dissatisfaction regarding what it termed as astonishing and intolerable financial irregularities found in NNPCL’s records, which include over ₦200 trillion in unexplained receivables and unrecorded legal and audit fees from 2017 to 2023.
The deadline, set to expire on July 10, follows NNPCL’s formal request on Thursday for a two-month extension to address the inquiries, a request that the committee categorically denied.
“It is unacceptable. We have given them 10 working days. This committee will not tolerate delay tactics in matters concerning public funds,” Wadada said.
The Senate Committee chairman warned that if the NNPCL boss fails to respond, the Senate would be compelled to invoke its constitutional oversight powers.
“Any attempt to disregard this committee’s directive will amount to contempt of the Senate. We are here to protect public funds, and we will not be deterred,” he added.