The Digest:
The Senate Public Accounts Committee has given the Nigerian National Petroleum Company Limited (NNPCL) until April 29 to appear and account for N210 trillion flagged in audit reports from 2017 to 2023. The committee directed current GCEO Bayo Ojulari and former GCEO Mele Kyari to appear, along with former CFO Umar Ajia, Bala Wunti, and external auditors. The committee said NNPCL's earlier explanations to 19 audit queries were "unsatisfactory."
Key Points:
- The committee is not satisfied with NNPCL's "blanket explanation" on N103 trillion claimed as liabilities.
- Specific amounts for retention fees, legal fees, and audit fees must be stated.
- Detailed explanations are required for the N107 trillion spent on joint venture cash calls.
- Some funds were allegedly owed by defunct banks whose identities were not disclosed.
- A member called for invoking legislative powers to compel NNPCL's appearance.
Sources: Premium Times, NAN
