The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) 21 days to provide detailed explanations on financial discrepancies totalling ₦210 trillion even as its Group Chief Executive Officer (GCEO), Bayo Ojulari, pleaded for more time to respond adequately.
Appearing before the committee on Tuesday in response to an earlier summons, Ojulari stated that he required more time to properly study and understand the issues flagged in the company’s audited financial statements covering the period from 2017 to 2023.
“I have been in office for barely 100 days and I need time to fully understand the issues. Given the explanation I’ve heard today, my perspective has changed,” the NNPCL chief said.
“I need to carry out further internal review and reconciliation to provide the answers the committee requires’. He pledged to assemble a team to work on the queries.”
The financial concerns revolve around ₦103 trillion in liabilities and ₦107 trillion in assets, figures that lawmakers described as troubling and largely unsubstantiated.
The Chairman of the Committee, Senator Aliyu Wadada, said that the figures raised red flagsChannels.
