
The Digest:
The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) a 21-day deadline to address financial discrepancies totaling ₦210 trillion. This includes unverified liabilities and assets that have raised concerns among lawmakers.
Key Points:
- NNPCL given 21 days to clarify ₦210 trillion in financial discrepancies.
- Financial discrepancies stem from ₦103 trillion in liabilities and ₦107 trillion in assets.
- NNPCL GCEO, Bayo Ojulari, requests more time to review the issues.
- Lawmakers find the figures troubling and largely unsubstantiated.
- Committee chairman, Senator Aliyu Wadada, questions the validity of the numbers.
- Lawmakers express dissatisfaction with the NNPCL’s previous responses.
- NNPCL is expected to provide concrete explanations and reconciliation of the financial statements.
The Senate Committee’s 21-day ultimatum highlights the urgent need for NNPCL to address troubling financial discrepancies, with lawmakers demanding transparency and accountability.
Rooted in the Storm.
Sources: Premium Times, Channels TV, Vanguard