Senate Launches Bombshell Probe: NNPCL Grilled Over Staggering N210 Trillion Discrepancies!
The Nigerian Senate's Committee on Public Accounts has given the NNPCL a firm deadline of April 29, 2026, to account for N210 trillion identified in audit reports from 2017 to 2023. Committee Chairman Senator Aliyu Wadada demanded detailed explanations for N103 trillion in liabilities and N107 trillion in Joint Venture Cash Calls, citing unsatisfactory prior responses. Key NNPCL officials, past and present, along with external auditors, have been summoned for this critical inquiry.
The Senate Committee on Public Accounts has issued an ultimatum to the Nigerian National Petroleum Company Limited, setting April 29, 2026, as the deadline to account for an alleged missing N210 trillion flagged in audit reports covering 2017 to 2023.
The amount reportedly includes N103 trillion in liabilities and N107 trillion linked to Joint Venture Cash Calls and funds allegedly owed by defunct banks.
The directive followed a committee meeting at the National Assembly in Abuja, where concerns were raised over discrepancies identified in the audited financial records.
The committee directed the company’s current leadership to appear before lawmakers alongside former senior officials and external auditors to provide detailed explanations on the financial records.
The planned appearance is expected to address outstanding issues and clarify transactions captured within the audit period. Lawmakers indicated that the presence of both current and former management would assist in providing a comprehensive account of the flagged figures.
The committee’s decision followed dissatisfaction with previous responses to multiple audit queries, which lawmakers described as inadequate.
The demand for further clarification reflects growing legislative scrutiny of the company’s financial operations and accountability framework.
The hearing is expected to focus on resolving the audit concerns and determining the accuracy of the reported liabilities and outstanding funds.