The Nigerian National Petroleum Company Limited (NNPCL) has been given a 10-day ultimatum by the Senate Committee on Public Accounts. The warning is simple: explain the missing N200 trillion or face constitutional consequences. The NNPCL gets 10-day ultimatum—no more, no less.
This came after the Group Chief Executive Officer, Bayo Ojulari, asked for two more months to respond to 11 serious financial queries. The Senate said no. According to them, the numbers are too big and the silence is too loud.
NNPCL Gets 10-Day Ultimatum: Senate Says No More Excuses
Senator Aliyu Wadada, who chairs the committee, said the financial irregularities in NNPCL’s books are “mind-boggling and unacceptable.” The discrepancies include unexplained receivables and undocumented audit and legal fees from 2017 to 2023—running into trillions.
“It is unacceptable. We have given them 10 working days,” Wadada said. “This committee will not tolerate delay tactics in matters concerning public funds.”
The NNPCL gets 10-day ultimatum after it failed to satisfy the Senate with proper documentation. Wadada didn’t mince words: “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.”
Missing External Auditors, Missing Answers
Things didn’t look any better at the hearing. NNPCL’s external auditors were missing. Wadada expressed frustration at their absence, saying transparency was now non-negotiable.
Attending the hearing were representatives from the Economic and Financial Crimes Commission (EFCC), the Nigeria Financial Intelligence Unit (NFIU), the Department of State Services (DSS), and other key agencies. They watched as the senators grilled NNPCL’s representatives over financial gaps they say have been buried for too long.
The senators noted that the unexplained N200 trillion could not be dismissed with delays or vague responses. It’s either the figures are cleared or the company faces the full weight of legislative oversight.
NNPCL Gets 10-Day Ultimatum or Faces Senate Fire
NNPCL gets 10-day ultimatum. It’s now the official warning from the Nigerian Senate. No more waiting. No more cover-ups. As far as the Senate is concerned, any failure to comply by July 10 will not go unanswered.
And with the EFCC, NFIU, and DSS watching, this may be one of the most serious confrontations yet between lawmakers and the nation’s oil giant.
