The Nigerian Senate, through its Committee on Public Accounts, on Thursday, clarified that the N210 trillion financial infraction raised against the Nigerian National Petroleum Company Limited, NNPCL, in the audit reports of 2017 to 2023 was not stolen, but uncounted for by the oil company.

This was even as the committee, chaired by Senator Aliyu Wadada Ahmed (SDP Nasarawa West), insisted that the Group Chief Executive Officer, GCEO of NNPCL, Engr. Bayo Ojulari must appear before it for explanations on the financial infractions and other queries raised against the company in the audit reports.

These were the resolutions of the chairman and members of the committee during an investigative hearing with the top management staff of NNPCL on Thursday as scheduled on June 26, 2025.

The committee had at the end of the session it had with management of NNPCL last month, directed that the GCEO of the company must appear before it along with relevant officers on July 10, 2025 to account for the N210 trillion financial infraction and defend other queries raised against the company in the audit reports.

Senator Wadada specifically clarified that the committee does not have anything against anybody in NNPCL, but is doing its constitutionally mandated duty of making Nigeria work  through thorough scrutinization of how public funds are spent..

“I don’t have anything against anybody in NNPCL just as other members of the committee, but carrying out our constitutional mandate of ensuring probity and accountability on spending of public funds.

“NNPCL as clearly stated in the audit reports of 2017 to 2023, must account for N210 trillion financial infraction.

“This committee never said NNPCL stole the money, but is requesting it to account for it.

“The GCEO of NNPCL must appear before this committee to give the account and offer explanations on other queries raised,” he said.

In line with its earlier directive, the committee at the investigative session with NNPCL on Thursday, refused to allow the Chief Financial Officer, CFO, Mr Dapo Segun to make any submission or presentation to it on behalf of the GCEO, who had travelled for the Organisation of Petroleum Exporting Countries, (OPEC) meeting currently holding in Vienna, Austria.