Senate committee sets April 29 deadline for NNPCL to address N210 trillion audit queries
via Punch Nigeria2 hours ago2 min read
The Nigerian Senate Committee on Public Accounts has mandated the Nigerian National Petroleum Company Limited NNPCL to appear before it by April 29. The directive requires the NNPCL to account for N210 trillion flagged in audit reports spanning from 2017 to 2023. The committee has summoned the Group Chief Executive Officer of NNPCL, Mr. Bayo Ojulari, along with the immediate past GCEO, Mr. Mele Kyari, former Chief Financial Officer, Umar Ajia, Dr. Bala Wunti, and the company's external auditors. Senator Aliyu Wadada, Chairman of the committee, stated that the NNPCL's previous explanations for N103 trillion, claimed as liabilities, and N107 trillion, attributed to joint venture cash calls and funds owed by undisclosed defunct banks, were unsatisfactory. The committee insists on detailed explanations for these amounts, including specific components of liabilities like retention, legal, and audit fees. The resolution followed a motion by Senator Osita Izunaso and Senator Adams Oshiomhole. Senator Abdul Ningi had earlier called for the invocation of the National Assembly's powers due to repeated failures by NNPCL officials to honor invitations.
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Original source
This summary was AI-generated from a story originally published by Punch Nigeria.
