NNPCL GCEO finally appears before senate, gets 3-week deadline to explain N210trn ‘discrepancy’
Bayo Ojulari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), finally honoured the invitation of the Senate Public Accounts Committee on Tuesday.
Ojulari was summoned to respond to 19 audit queries raised by the Office of the Auditor General of the Federation on NNPCL’s financial statements between 2017 and 2023.
The report alleged a lack of accountability in the management of funds totalling N210 trillion.
However, Senator Ahmed Wadada Aliyu, chairman of the committee, clarified that the amount in question was neither missing nor stolen, but had yet to be properly accounted for.
“There are none out of the 18 or 19 questions we have on NNPCL from us as a committee, neither did it come from the executive or judiciary. They are questions extracted from the audited financial statement of the NNPCL by the auditor-general covering 2017 to 2023,” Wadada said.
“Also, this committee had not at any time said the N210 trillion in question, as far as the queries are concerned, was stolen or missing. What the committee is doing is required investigation on queries raised in the report in line with its constitutional mandate.
“Therefore, the committee is giving NNPCL three weeks to forward written responses to it on all the 19 queries after which the GCEO will be invited along with other management staff for physical appearance and defence,” he added.
During the session, Ojulari apologised for his previous absence and requested more time to respond to the audit queries.
He told the committee that he had only spent just over 100 days in office and needed time to review the technical issues raised properly.
“I’m just over 100 days in the office as the GCEO of NNPCL. 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,” he said.
“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.”
The committee granted Ojulari a three-week window to submit written responses, after which a physical appearance will be scheduled for further clarification.
