Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL) Bayo Ojulari is to appear before the Senate Committee on Public Accounts on April 29, over audit queries covering 2017 to 2023.
He is expected to appear alongside former GCEO Mele Kyari, former Chief Financial Officer Umar Ajia, Bala Wunti and the company’s external auditors.
The Senate committee is seeking explanations on issues raised in audit reports which it said involved N210 trillion.
Chairman of the committee Aliyu Wadada stated that the explanations provided by the company earlier were insufficient.
“This committee, and by extension the Senate, is not satisfied with the explanation given by NNPCL on the N103 trillion said to be liabilities,” he said.
He added that liabilities must be broken down into components.
“Liabilities are not a single line item. They comprise retention fees, legal fees and audit fees. The specific amounts spent on each of these components must be clearly stated,” Mr Wadada said.
He also asked for details of the remaining N107 trillion, which the company linked to joint venture cash calls and debts associated with unnamed banks.
“Detailed explanations must also be provided on the N107 trillion said to have been spent on joint venture cash calls and funds tied to banks whose identities have not been disclosed,” he said.
The decision followed a motion moved by Osita Izunaso and seconded by Adams Oshiomhole.
The Senate gave the officials two weeks to appear before the committee.
Wadada said the appearance must be complied with.
“NNPCL is hereby given an additional two weeks to appear before this committee. The deadline for compliance is April 29, 2026,” he said.
