More
    HomeBusinessN200trn missing funds: Senate gives NNPCL 10-day ultimatum to respond 

    N200trn missing funds: Senate gives NNPCL 10-day ultimatum to respond 

    Published on

    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.

    Recall 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 failed 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.

    Latest articles

    You may hate El-Rufai, but you can’t ignore him – VP Shettima

    Vice President Kashim Shettima on Thursday described former Kaduna State Governor, Nasir El-Rufai, as...

    Tinubu never stopped 5-year non-immigrant visa for US citizens — Presidency

    President Bola Ahmed Tinubu has never stopped issuing 5-year multiple-entry visas for United States...

    NNPC must account for ‘missing’ N210trn, Senate insists

      The Senate Committee on Public Accounts on Thursday insisted that the Nigerian National Petroleum...

    I handed over N38bn salary arrears to Alia, says Ortom

    The immediate past Governor of Benue State, Dr Samuel Ortom, has declared that only...

    More like this

    You may hate El-Rufai, but you can’t ignore him – VP Shettima

    Vice President Kashim Shettima on Thursday described former Kaduna State Governor, Nasir El-Rufai, as...

    Tinubu never stopped 5-year non-immigrant visa for US citizens — Presidency

    President Bola Ahmed Tinubu has never stopped issuing 5-year multiple-entry visas for United States...

    NNPC must account for ‘missing’ N210trn, Senate insists

      The Senate Committee on Public Accounts on Thursday insisted that the Nigerian National Petroleum...