Senate (4) (1).webp
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.
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Sources: Premium Times, Channels TV, Vanguard