The Nigerian Senate Committee on Public Accounts has issued a stern 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL), demanding the appearance of its top executives by July 10, 2025.
Failure to comply will result in legislative sanctions, as the committee continues its probe into ₦210 trillion in alleged financial irregularities identified in the company’s audited reports from 2017 to 2023.
At a session held on Thursday, NNPCL officials were conspicuously absent despite being officially summoned.
Representatives from key anti-graft agencies, including the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Department of State Services (DSS), were present, but neither NNPCL officials nor their external auditors showed up.
In a letter addressed to the committee, signed by NNPCL’s Chief Financial Officer, Dapo Segun, the company cited an ongoing management retreat as the reason for their absence and requested a two-month extension to gather documentation and prepare responses.
“Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for two months from now,” the letter stated.
“Members of the board and the senior management team are currently out of the office for a retreat, which makes it difficult to attend.”
However, the Senate committee outright rejected the request.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” declared Committee Chairman, Senator Aliyu Wadada.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers.”
Senator Wadada emphasized that NNPCL was not being asked for new documents, but rather to respond verbally to 11 specific questions based on financial statements they had already submitted.
Other lawmakers echoed similar sentiments. Senator Abdul Ningi (Bauchi Central) stressed that Bayo Ojulari, the NNPCL Group CEO who took over from Mele Kyari in April 2025, must personally appear at the next hearing.
Senator Onyekachi Nwebonyi (Ebonyi North) suggested that the request for a two-month delay indicated the company was ill-prepared.
Despite the firm stance, the committee agreed to reconvene on July 10, assuring NNPCL that they would be granted a fair hearing.
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Senator Victor Umeh (Anambra Central) issued a stark warning: “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
This investigation follows a rigorous grilling of NNPCL executives last week, during which the Senate flagged₦103 trillion in accrued expenses, including ₦600 billion in retention, legal, and audit fees, none of which were backed by supporting documentation.
An additional ₦103 trillion recorded under receivables further escalated concerns.
Lawmakers were particularly alarmed when NNPCL submitted a revised financial report that contradicted figures in its previously published audit, deepening concerns over transparency and accountability.
The Senate has demanded comprehensive answers to the 11 critical questions and warned that continued non-compliance will attract severe legislative consequences.