The Senate Public Accounts Committee (SPAC) has issued a 10-day ultimatum to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Bayo Ojulari, to respond to audit queries involving trillions of naira in public funds.

At a heated session on Thursday, the committee expressed dissatisfaction over NNPCL’s failure to appear before it, despite earlier demands for explanations to 11 critical audit queries. 

The queries stem from significant discrepancies uncovered in the company’s financial records, drawing public concern.

The committee rejected a formal request from NNPCL seeking a two-month postponement of its appearance, citing the absence of key officials who are reportedly on a management retreat.

Describing the excuse as “unacceptable,” SPAC Chairman, Senator Ahmed Wadada, stressed that the matter required no fresh documents but direct answers to pending questions already presented to NNPCL at its last appearance.

“For a corporate body like NNPCL to ask for two months to respond to queries that emanated from their own books is unacceptable,” he said. “This committee is giving NNPC 10 working days from today— till July 10, 2025— to appear and provide answers.”

Failure to comply, the committee warned, would amount to contempt of the Senate, and may trigger the invocation of constitutional powers to compel attendance and enforce accountability.

In a letter dated June 24, NNPCL requested the postponement, citing the need to “collate requested information and documentation” and the absence of board and senior management members.

But lawmakers were quick to interpret the delay as a possible sign of unpreparedness or avoidance.

A member of the SPAC and Deputy Chief Whip of the Senate, Senator Onyekachi Nwebonyi, who was visibly frustrated, said: “This two-month delay request suggests to me that there are no answers. But in fairness, we are granting them 10 working days. On July 10, the GCEO must appear in person. No excuses.”

Also present at the session were representatives from the EFCC, ICPC, NFIU, and DSS, all of whom the committee said would remain part of the ongoing probe to ensure transparency, integrity and thoroughness.

Interestingly, the external auditors of NNPCL were also absent—another development the committee took note of as it pushes forward with its sweeping investigation into the management of Nigeria’s oil revenues.

With pressure mounting and the eyes of the nation fixed on the proceedings, the July 10 session promises to be a defining moment for transparency, accountability, and the credibility of one of Nigeria’s most critical institutions – NNPCL.