The Nigerian National Petroleum Company Limited (NNPCL) has come under renewed scrutiny as the Senate, on Thursday, summoned its Group Chief Executive Officer (GCEO), Mr. Bayo Ojulari, to appear before its Public Accounts Committee.
The directive follows unresolved questions surrounding alleged financial infractions totaling ₦210 trillion uncovered during the review of the company’s audited financial records from 2017 to 2023.
The Senate committee, led by Senator Aliyu Wadada, has been in a prolonged exchange with NNPCL over what it described as “unclear and inconsistent financial disclosures” in its books.
The panel insists that the oil company must provide adequate clarification regarding the ₦210 trillion, which it said remains unaccounted for in the audit reports.
“We are not saying NNPCL stole ₦210 trillion,” Senator Wadada clarified during the committee’s sitting on Thursday. “However, the company is obligated to explain the figures. There are accounts that are not reconciled, and that is unacceptable.”
Despite being formally invited, Mr. Ojulari failed to appear before the committee. Instead, he delegated the company’s Chief Financial Officer, Mr. Dapo Segun, to represent him.
Segun informed the committee that Ojulari was attending an Organisation of the Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, and would be unavailable until the weekend.
However, the committee rejected the CFO’s appearance and any submissions made on behalf of the absent GCEO. Several senators expressed anger over what they perceived as Ojulari’s consistent disregard for Senate invitations and his failure to personally account for public funds.
Senator Abdul Ningi (Bauchi Central) voiced his concern, saying, “It is very troubling and unacceptable that the GCEO of NNPCL has never honoured this committee’s invitation since his appointment. This continued defiance undermines the authority of the legislature.”
Echoing his views, Senator Adams Oshiomhole (Edo North) condemned Ojulari’s attitude as arrogant and disrespectful. “No one is above the country,” he said.
“Public office is not a personal empire. If the NNPCL boss continues to ignore our invitations, we will use every legal means to compel his appearance.”
Senator Wadada further stressed that the Senate has no personal grievances with NNPCL or its officials. “This is not a witch hunt,” he said.
“We are constitutionally mandated to ensure transparency, accountability, and good governance. Nigerians deserve to know the truth about how public funds are managed.”
The committee reaffirmed that Mr. Ojulari’s appearance is non-negotiable and promised to communicate a new date for the hearing. “This is not a request; it is a summons in the national interest,” Wadada stated.
As the Senate intensifies its oversight, public attention remains fixed on how the nation’s foremost oil company intends to resolve the lingering questions surrounding the ₦210 trillion financial irregularities in its accounts.