Senate Committee on Public Accounts has clarified that it never accused the Nigerian National Petroleum Company Limited (NNPCL) of embezzling N210 trillion, but rather pointed out that N2 trillion is unaccounted for in the company’s records.
Chairman of the Committee, Senator Aliyu Wadada (SDP, Nasarawa West), made this clarification during a session at the National Assembly, expressing concerns over media misrepresentations that followed the committee’s last meeting with NNPCL officials.
“We never said NNPCL stole N210 trillion,” Wadada emphasised.
“What we said was that N2 trillion is missing, and they must provide justification for that.”
Tensions rose at the hearing as the committee rejected the appearance of a delegation led by NNPCL’s Chief Financial Officer, Dapo Segun.
The chairman insisted that the Group Chief Executive Officer, Mele Kyari Ojulari, must personally appear before the panel to provide answers regarding the missing funds and discrepancies in the company’s financial records.
Wadada also criticised NNPCL for failing to submit a proper “net-off account,” stating that while the company reported N3 trillion in expenses, earlier submitted documents reflected figures as high as N103 trillion.
He said the committee required clarity on the company’s asset declarations and financial reports.
The committee also raised concerns over inconsistencies in NNPCL’s documentation regarding cash call withdrawals.
Previous records reportedly showed withdrawals beginning in 2015, while the company claimed the change took effect in 2017.
Lawmakers on the committee expressed frustration over the GCEO’s continued absence. Senator Abdul Ningi (PDP, Bauchi Central) said the NNPCL boss had repeatedly ignored the committee’s invitations and was treating the legislature with disregard.
He dismissed claims that Ojulari’s attendance at the OPEC seminar in Vienna justified his absence, arguing that his first responsibility was to Nigeria, not OPEC.
“He should have formally notified the committee of his trip well in advance,” Ningi stated.
“Being a GCEO does not exempt him from accountability.
“The legislature has constitutional powers to demand answers.”
Senator Adams Oshiomhole (APC, Edo North) echoed the sentiment, condemning Ojulari’s absence and warning that no official is above parliamentary scrutiny.
“Anyone who is too big to appear before the committee should consider relocating from the country,” he said.
“We are constitutionally empowered to protect public funds. NNPCL has a troubling history of fraud and financial mismanagement.”
Also weighing in, Senator Kaka Shehu (APC, Borno Central) criticized the oil company for sending what he described as “junior officers” to face a committee tasked with a critical national duty.
He urged the committee to invoke its constitutional powers and enforce accountability.
In response, NNPCL’s CFO Dapo Segun apologised for the GCEO’s absence, but the committee maintained that only Ojulari’s direct appearance would satisfy its demand for transparency and clarity on the missing N2 trillion.
The committee adjourned its sitting to July 15, with expectations that the GCEO would attend.
