
11/07/2025
The Nigerian Senate has issued a stern ultimatum to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to account for a staggering N210 trillion discrepancy in the company's audited financial statements. This demand follows Ojulari's repeated absence from Senate investigative hearings, despite multiple invitations.
The Senate Committee on Public Accounts, chaired by Senator Aliyu Wadada, expressed strong dissatisfaction with Ojulari's persistent disregard for legislative oversight. The committee emphasized that no official, regardless of rank, is above accountability and that Ojulari's presence is required to address the audit discrepancies.
According to Senator Wadada, the N210 trillion discrepancy refers to funds that are unaccounted for, not stolen. The committee insists that proper documentation and explanation are necessary to justify the figures. The discrepancy includes N103 trillion listed as accrued expenses and N107 trillion as receivables.
The Senate has warned Ojulari that failure to comply with the summons may result in the invocation of its constitutional powers, including issuing a warrant of arrest. Senators Abdul Ningi and Adams Oshiomhole condemned Ojulari's conduct, with Oshiomhole stating that "nobody is bigger than the country" and that anyone who believes otherwise has no business being in government.
The committee has resolved to communicate a new date for Ojulari's appearance, which he must unfailingly attend to explain the financial infractions and address other queries raised against NNPCL. The Senate's actions demonstrate its commitment to upholding fiscal transparency and accountability in the management of public funds.