The Nigerian National Petroleum Company Limited (NNPCL) has been given three weeks by the Senate Committee on Public Accounts to address audit questions about N210 trillion in unexplained assets and liabilities from 2017 to 2023. Senator Ahmed Wadada, the head of the committee, explained that the money has to be fully accounted for and is neither lost nor stolen.
The Auditor-General’s reports, not those of the executive or judicial branches, are the source of the questions.
The newly appointed CEO of NNPCL Group, Bayo Ojulari, asked for four weeks but was only given three to respond in writing to 19 questions. In order to guarantee comprehensive responses, he promised to include auditors and pertinent teams.
He said to the Committee,“I’m just over 100 days in the office as the GCEO of NNPCL. I still need time to do further digging, given the perspectives I have heard now on the issues.
“This is coming in the midst of a huge national assignment, your explanation now changes my perspective about the issues.
“I need to understand the issues myself so I can respond appropriately. Will get a team and please get the details properly reconciled so we can work to provide answers to the queries.
“In doing this, I will surely engage the external auditors and other relevant groups,”
Lawmakers underlined the company’s crucial position in Nigeria’s economic well-being, called for openness, and asked NNPCL to treat the issue seriously.
