The Nigerian Senate, through its Committee on Public Accounts chaired by Senator Aliyu Wadada Aliyu, has given the Nigerian National Petroleum Company Limited (NNPCL) a three-week deadline to respond to queries regarding an alleged N210 trillion unaccounted amount, arising from audit reports between 2017 and 2023.
According to the Chairman Senate Committee on Public Account, Senator Aliyu Waddada, the amount consists of roughly N103 trillion in liabilities (accrued expenses) and N107 trillion in assets (receivables), all needing detailed explanation and accountability.
He further clarified that the N210 trillion is not missing or stolen but remains unaccounted for, explaining the need for the NNPCL to clarify the discrepancies in their financial statements, which have raised serious governance and transparency concerns.
Our Correspondent, Raliat Adenekan reports that the Group Chief Executive Officer (GCEO) of NNPCL, Engineer Bayo Ojulari, apologized for previous failures to appear before the committee and requested additional time to thoroughly address the 19 queries raised due to the complexities involved.
This three-week extension follows earlier deadlines and ultimatum, including a 10-day deadline earlier in June and July 2025, which NNPCL had requested extensions beyond, citing management retreats and the need for more time to gather evidence.
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