Senate kicks as NNPCL shuns N210tn audit probe

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The Nigerian National Petroleum Company Limited on Thursday failed to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over N210tn in its audited reports from 2017 to 2023.

Despite being summoned, no officials or external auditors from NNPCL showed up.

However, representatives from the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.

In response to NNPCL’s absence, the committee issued a 10-day ultimatum, demanding the company’s top executives appear before the panel by July 10 or face constitutional sanctions.

A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.

It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.

The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for two months from now to enable us to collate the requested information and documentation.

“Furthermore, members of the board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session of Thursday, 26th June 2025.

“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”

But the lawmakers rejected the request.

The committee chairman, Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.