The Senate Committee on Public Accounts has given a 10-day deadline to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, to respond to 11 critical financial queries related to discrepancies in the company’s audited financial statements.
The Senate warned that failure to comply with the directive could attract serious constitutional consequences.
It will be recalled that the committee, chaired by Senator Aliyu Wadada, had a few days ago expressed displeasure over what it described as mind-boggling and unacceptable financial irregularities uncovered in NNPCL’s books, including over N200 trillion in unexplained receivables and undocumented legal and audit fees spanning the years 2017 to 2023.
The deadline, which would elapse on July 10, comes after NNPCL on Thursday formally requested a two-month extension to respond to the queries, a request the committee flatly rejected.
“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 fail 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.
