Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries - Politics

Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries - Politics - Nairaland

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Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by InfoGuru118(op): 11:25pm On Jul 29, 2025

The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) 21 days to provide detailed explanations on financial discrepancies totaling ₦210 trillion even as its Group Chief Executive Officer (GCEO), Bayo Ojulari, pleaded for more time to respond adequately, Daily Watch Nigeria reports.

Appearing before the committee on Tuesday in response to an earlier summons, Ojulari stated that he required more time to properly study and understand the issues flagged in the company’s audited financial statements covering the period from 2017 to 2023.

“I have been in office for barely 100 days and I need time to fully understand the issues. Given the explanation I’ve heard today, my perspective has changed,” the NNPCL chief said.

“I need to carry out further internal review and reconciliation to provide the answers the committee requires’. He pledged to assemble a team to work on the queries.”

The financial concerns revolve around ₦103 trillion in liabilities and ₦107 trillion in assets, figures that lawmakers described as troubling and largely unsubstantiated.

The Chairman of the Committee, Senator Aliyu Wadada, said that the figures raised red flags.

“The amount is mind-boggling. The liability figure cannot be substantiated and is therefore not acceptable to this committee. Even the receivables making up the asset component cannot be verified,” the senator said.

According to Wadada, the ₦210 trillion in question was extracted directly from NNPCL’s audited financial statements and the company is expected to provide concrete explanations for both its liabilities and assets.

Some lawmakers also expressed dissatisfaction with the company’s posture, accusing NNPCL of showing disregard for the committee. They argued that the NNPCL boss’s plea for more time was not sufficient and questioned why the CEO appeared to be unfamiliar with the details despite sending representatives to earlier hearings.

Following an appeal from the CEO, the committee directed the NNPCL to return with a comprehensive and reconciled response within 21 days.

https://dailywatch.ng/ojulari-begs-for-time-as-senate-probes-nnpcls-n210trn-assets-liabilities/

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Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by justi40(m): 5:11am On Jul 30, 2025

Okay make I carry book come learn the account audit and number
Abi d new CEO never start remit give this Senate committee people their own share

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Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by GardenOfGod(m): 5:29am On Jul 30, 2025

Since the inception of APC in 2015, Nigeria has lost all her glorious days. The CIA Asset in charge has stolen more than Abacha within his 2 years in office. He has borrowed more than all the past leaders combined and yet, nothing to show for. Imagine the corruption in NNPC as well as in other agencies of government... A whooping over 200 trillion naira unaccounted for. Unfortunately, nothing will happen after the Senate hearing because Nigeria have been state-captured by grievous wolves whose identity is shrouded in secrecy. A druglord and his associates doing the biddings of his masters from the CIA. May God help Nigeria.

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Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by peculiar2233: 6:12am On Jul 30, 2025

And what will happen after the three weeks lapses? Mtchewwww

Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by Rhado: 6:21am On Jul 30, 2025

GardenOfGod:
Since the inception of APC in 2015, Nigeria has lost all her glorious days. The CIA Asset in charge has stolen more than Abacha within his 2 years in office. He has borrowed more than all the past leaders combined and yet, nothing to show for. Imagine the corruption in NNPC as well as in other agencies of government... A whooping over 200 trillion naira unaccounted for. Unfortunately, nothing will happen after the Senate hearing because Nigeria have been state-captured by grievous wolves whose identity is shrouded in secrecy. A druglord and his associates doing the biddings of his masters from the CIA. May God help Nigeria.

Nothing will come out, na just eye-service
Hopefully one day Nigeria maybe better

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Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by PeaceMaker24: 6:41am On Jul 30, 2025

Nothing new here, Mele Kyari be smiling on his beach chair from the Caribbean ☺️😁

Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by reiddecuti: 7:01am On Jul 30, 2025

Dog without teeth barking. Always making noise and disturbing the environs. Giving out treats they can't enforce.

Shameful people.

Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by Bullet01(f): 7:10am On Jul 30, 2025

NNPC guys really cashed out on us.

NNPC guys really cashed out on us.

Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by OSUNADC: 7:10am On Jul 30, 2025

That's a dry attempt posturing as an independent arm of the government meanwhile they are like a side-chic whose eye service is to enable her get a night or two to warm the bed of the Master with several wives,and concubines.

ADC: HERE WE COME!!!

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Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by Newsmills: 7:14am On Jul 30, 2025

From east west road to other federal roads squalors,but outsiders are heavily squeezing the region’s resources to send their wards abroad for studies,while owners of these resources are engaging in touting,fares commissions racketeering in motorparks,cultism.NNPCL managed by north and their allies from southwest are coasting home billions of dollars buying houses in choicest places in the world.

Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by Gboss247(m): 8:27am On Jul 30, 2025

InfoGuru118:
https://dailywatch.ng/ojulari-begs-for-time-as-senate-probes-nnpcls-n210trn-assets-liabilities/

N210 trillion spent on subsidized imported petrol after subsidy removal, we all know the truth.

Re: Senate Committee Gives NNPCL Three Weeks To Explain ₦210 Trillion Audit Queries by phadul: 10:27am On Jul 30, 2025

Hmmm has anyone bothered to convert the 210 trillion to dollars? That is around 125 billion dollars!!!!! Remember when sanusi lamido sanusi exposed the 20billion dollar deficit during Jonathan era and was sacked from CBN for his efforts and we thought the corruption couldn't get any worse!

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