The Senate has directed the Nigerian National Petroleum Company Limited, NNPCL, to provide detailed explanations within three weeks over discrepancies totalling ₦210 trillion flagged in its audited financial statements from 2017 to 2023.
The directive came after NNPCL Group CEO, Mr Bayo Ojulari, appeared before the Senate Committee on Public Accounts, apologising for past absences and requesting more time to review the 19 queries raised. Though he asked for four weeks, the committee granted a 21-day extension.
Also Read: Senate Committee Threatens Arrest of NNPCL Boss Over N210tn Audit Queries
Mr. Ojulari, who has been in office just over 100 days, pledged to engage auditors and assemble a team to address the flagged liabilities of ₦103 trillion and assets of ₦107 trillion.
Committee Chair, Senator Aliyu Wadada, described the figures as alarming and insisted the amounts are not missing but must be fully reconciled and substantiated in the next hearing.
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