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Audit Showdown: Senators Furious Over NNPCL’s Silence on N210tn Oil Revenue
The Nigerian National Petroleum Company Limited (NNPCL) on Thursday failed to appear before the Senate Committee on Public Accounts, which is investigating alleged financial discrepancies exceeding ₦210 trillion in its audited reports spanning 2017 to 2023.....KINDLY READ THE FULL STORY HERE▶
Despite being summoned, no NNPCL officials or their external auditors attended the hearing. In contrast, representatives from the EFCC, ICPC, and DSS were present.
Furious over the absence, the Senate committee issued a 10-day ultimatum, directing NNPCL’s leadership to appear by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25 and read aloud during the session, blamed the no-show on an ongoing management retreat and requested a two-month postponement to collate the necessary documents.
The letter stated in part:
“We request your kind consideration to reschedule the engagement for two months to enable us to gather the requested information. Our board and senior management are currently away for a retreat, making attendance at the June 26 session impossible.”
While acknowledging the significance of the probe, the letter assured the committee of NNPCL’s commitment to the process.
But lawmakers flatly rejected the plea.
Committee Chairman Senator Aliyu Wadada said NNPCL was not being asked to submit documents but to respond to 11 specific questions already sent to them.
“It’s unacceptable that a company of NNPCL’s stature needs two months to address queries based on its own audited records,” Wadada said. “If they fail to appear by July 10, we’ll invoke our constitutional powers. Nigerians deserve answers.”
Other senators shared his frustration.
Senator Abdul Ningi (Bauchi Central) insisted that the Group CEO, Bayo Ojulari, who succeeded Mele Kyari in April, must personally lead the delegation at the next hearing.
Senator Onyekachi Nwebonyi (Ebonyi North) suggested the two-month request indicated NNPCL lacked credible answers but said the committee would still offer a fair hearing.
Senator Victor Umeh (Anambra Central) issued a stern warning:
“If they snub the Senate again, the public will see that the Senate is not a toothless bulldog.”
Just last week, the committee grilled NNPCL CFO Dapo Segun and other top officials over what lawmakers called “mind-boggling irregularities” in the company’s financial statements.
Among red flags was ₦103 trillion in accrued expenses—including ₦600 billion in retention fees, legal charges, and audit costs—with no corresponding documentation.
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“They Didn’t Even Want To See Me” — Atiku Opens Up On PDP Coalition Snub.
Former Vice President Atiku Abubakar has revealed that his push for an opposition coalition was initially rejected by members of the Peoples Democratic Party (PDP).....KINDLY READ THE FULL STORY HERE▶
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Atiku Opens Up On ADC 2027 Game Plan, Says Consensus Candidate Comes First.
Former Vice President Atiku Abubakar has said the African Democratic Congress (ADC) will first pursue a consensus arrangement before considering a primary election for its 2027 presidential ticket.....KINDLY READ THE FULL STORY HERE▶
Atiku made this known during an interview on Arise Television on Wednesday while discussing the party’s leadership and strategy ahead of the next general election.
He said he is open to backing a consensus candidate if that becomes the party’s collective decision, stressing that such support should not be interpreted as stepping aside.
“It is not about stepping aside, but whether I am willing to support, and yes, I will,” Atiku said.
According to him, the ADC’s first priority is to build internal unity and reach an agreement among stakeholders before considering a competitive primary process.
“Our first option will be to work out a consensus. If that doesn’t happen, then of course we will explore other options. And yes, I will support whoever eventually emerges,” he stated.
Atiku also expressed confidence in the political experience within the party, saying he believes a consensus is achievable and may make a full-scale primary contest unnecessary.
“That remains our preferred path. We will go for primaries if consensus fails, but I honestly do not expect it to get to that stage because we are dealing with mature and experienced politicians,” he added.
His comments come amid growing political consultations and coalition talks as parties begin to position themselves ahead of the 2027 general elections.
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2027: I Stand A Better Chance To Win Presidency Than Anyone Else – Atiku.
Former Vice President Atiku Abubakar has said the opposition coalition under the African Democratic Congress (ADC) has significantly strengthened his chances of winning the 2027 presidential election.....KINDLY READ THE FULL STORY HERE▶
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