Again, NNPC CEO shuns senate panel probing ‘N210trn discrepancies’ in financial statement

Bayo Ojulari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, has again failed to appear before the senate committee on public accounts.

This is despite facing a 10-day ultimatum (which expires today) to address discrepancies in the company’s audited financial statements.

At the committee’s sitting on Thursday, Dapo Segun, the NNPC’s chief financial officer (CFO), appeared in Ojulari’s stead and informed lawmakers that the GCEO is currently overseas, attending OPEC sessions as part of Nigeria’s delegation.

Segun said Ojulari left the country on Tuesday and would return over the weekend. He conveyed the GCEO’s regrets for not being able to attend.

But senators were visibly angered by Ojulari’s continued absence, especially given the gravity of the ongoing probe into discrepancies amounting to N210 trillion in NNPC’s audited financial statements.

Abdul Ningi, senator representing Bauchi central, said the GCEO had “consistently disregarded” the panel.

“It’s crystal clear that the GMD has taken this committee for granted,” Ningi said.

“From inception, the GMD has never appeared before this committee. I find it really disturbing.”

He insisted that Ojulari is accountable to the Nigerian people through the national assembly, not to OPEC.

“The GMD must appear in person for the very first time. This is not acceptable at all,” he added.

Adams Oshiomhole, senator representing Edo north, echoed Ningi’s sentiment, warning that defiance of constitutional authority would not be tolerated.

“Anybody who is too big to obey the Nigerian constitution should relocate,” Oshiomhole said.

Kaka Shehu Lawan, senator representing Borno central, described Ojulari’s absence as “very insulting”.

“We cannot take this kind of thing forward,” he said.

On his part, Aliyu Wadada, chair of the committee, maintained a firm but conciliatory tone, insisting that the issue was not personal.

“There is nothing personal between this committee and anybody. Every other person in the NNPC is my friend, but I am doing my job,” Wadada said.

He added that the committee had already given NNPC a 10-day ultimatum to address the queries.

The ultimatum came after NNPC requested a two-month extension to respond to the discrepancies — a request the committee rejected.

The panel is probing contradictions in NNPC’s audited accounts — specifically N103 trillion in accrued expenses and N107 trillion in receivables.

Segun had previously told the committee that the N107 trillion was linked to joint venture (JV) cash calls and payments yet to be reconciled due to procedural delays.

The committee has now postponed the session to July 15, to allow Ojulari to appear in person, warning that further absence could trigger serious constitutional consequences, including a possible arrest warrant.