The Nigerian Senate has given the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, 10 working days to respond to 11 serious financial queries involving over ₦200 trillion in unexplained receivables and undocumented legal and audit fees between 2017 and 2023.

This ultimatum, which expires on July 10, follows the committee’s outright rejection of NNPCL’s request for a two-month extension to address the issues.

Chairman of the Senate Committee on Public Accounts, Senator Aliyu Wadada, warned that failure to comply would compel the Senate to invoke its constitutional oversight powers, adding that any attempt to disregard the committee’s directive amounts to contempt of the Senate.

During the session, Senator Victor Umeh expressed deep displeasure over the nonchalant attitude of agencies that have repeatedly ignored the committee’s invitations. He stated that their continued absence could only be interpreted as an admission that they have no defence to offer. He further warned that the Senate would take decisive action against such bodies to demonstrate clearly to Nigerians that the 10th Assembly is not a toothless bulldog.

The session was attended by representatives from the EFCC, NFIU, DSS, and other key stakeholders who served as witnesses to the proceedings.

“We are here to protect public funds, and we will not be deterred,” Senator Wadada said.