Title: Senate Fumes as NNPCL Shuns N210tn Audit Probe Date Published: 27 June 2025 Description: Senate Fumes as NNPCL Shuns N210tn Audit ProbeThe Nigerian National Petroleum Company Limited (NNPCL) on Thursday failed to appear before the Senate Committee on Public Accounts, which is probing alleged financial discrepancies amounting to over ₦210 trillion in the company\'s audited reports from 2017 to 2023.Despite being summoned, no officials or external auditors from NNPCL were present. However, representatives from the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), and Department of State Services (DSS) attended the session.In response to NNPCL’s absence, the committee issued a 10-day ultimatum, demanding that top executives of the company appear before the panel by July 10 or face constitutional sanctions.A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session. It cited an ongoing management retreat and requested a two-month extension to prepare the necessary documents and responses.“Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for two months from now to enable us to collate the requested information and documentation.Furthermore, members of the board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session of Thursday, 26th June 2025.”The committee, however, rejected the request.Committee Chairman Aliyu Wadada said NNPCL was not expected to submit documents but rather provide verbal responses to 11 key questions previously sent.“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable. If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers.”Other lawmakers expressed similar frustrations:Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, who assumed office on April 2, 2025, must personally lead the delegation at the next hearing.Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month delay request indicated the company lacked answers, but the committee would still grant a fair hearing on July 10.Senator Victor Umeh (Anambra Central) warned NNPCL against undermining the authority of the Senate:“If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”Last week, the Senate panel grilled Segun and other top executives over “mind-boggling” irregularities in NNPCL’s financial statements.Key concerns included:₦103 trillion in accrued expenses, including ₦600 billion in retention fees, legal, and auditing costs—without supporting documentation.Another ₦103 trillion listed under receivables.A revised report submitted by NNPCL contradicted previously published figures, further raising doubts.The committee demanded detailed answers to 11 specific queries and warned that failure to comply could lead to legislative consequences.  Attached Images: 56a62f1fe2ab98965ae6c14d9a05593485719e60ab2f64d69b25c73cd03876e5.jpg Attached Video: None