Nigeria’s Senate Committee on Public Accounts has given the Nigerian National Petroleum Company (NNPCL) three weeks to respond to queries raised against it in connection with an unaccounted N210 trillion.
According to a report from the News Agency of Nigeria (NAN) , the queries against the NNPCL are in connection with audit reports of 2017 to 2023.
The committee, chaired by Sen. Ahmed Wadada, insisted that the amount in question was neither stolen nor missing but yet to be accounted for.
The three-week window for explanations was given to the Group Chief Executive Officer of NNPCL, Bayo Ojulari, after accepting his apology for past failed appearances before it.
Ojulari had, after his apology to the committee, explained to its members that for satisfactory response from him on the 19 queries raised, he needed more time to dig into the technicalities and perspectives of the issues raised.
“I’m just over 100 days in the office as the GCEO of NNPCL. I still need time to do further digging, given the perspectives I have heard now into the issues.
“This is coming in the midst of a huge national assignment, your explanation now changes my perspective about the issues.
“I need to understand the issues myself so I can respond appropriately. Will get a team and please get the details properly reconciled so we can work to provide answers to the queries.
“In doing this, I will surely engage the external auditors and other relevant groups,” he said.
Though he requested four weeks, the committee granted him three weeks which, according to it, is enough for the response expected from NNPCL.
Explaining the nitty-gritty of the queries to the NNPCL GCEO, Wadada said that the N210 trillion unaccounted for was broadly in two components of N103 trillion liabilities and N107 trillion assets which, he said, must be accounted for.
NAN also reports that before the ruling of the chairman, virtually all members of the committee had spoken on the seriousness of the issues at stake, but expressed optimism that the GCEO would clear the air on those issues.
