ABUJA, Nigeria — The Senate Committee on Public Accounts has issued a 10-day ultimatum to the Nigerian National Petroleum Company (NNPC) Limited to respond to audit queries over discrepancies totalling ₦210 trillion in its financial statements.
The directive was announced on Thursday, June 26, 2025, after the NNPC failed to appear before the committee, prompting sharp criticism from lawmakers.
Instead of attending the scheduled hearing, the national oil firm submitted a letter requesting a two-month extension to address the issues raised in the Senate’s investigation, which was launched on Thursday, June 19, 2025.
Committee chairman Senator Aliyu Wadada rejected the request and described the company’s conduct as “unacceptable.”
“We have given them 10 working days. This committee will not tolerate delay tactics in matters concerning public funds,” Wadada said.
“Any attempt to disregard this committee’s directive will amount to contempt of the Senate.”
The ultimatum, which expires on Thursday, July 10, 2025, was directed to NNPC Group Chief Executive Officer Bayo Ojulari, who was also absent from the proceedings.
Wadada warned that the committee would invoke its constitutional oversight powers if NNPC fails to comply.
“We are here to protect public funds, and we will not be deterred,” he stated.
The committee also expressed dissatisfaction with the absence of NNPC’s external auditors, whose participation was expected to shed light on the accounting discrepancies flagged in the company’s audited reports.
NNPC Limited, which transitioned into a commercial entity under the Petroleum Industry Act (PIA) of 2021, remains under public scrutiny over legacy accountability concerns.
