The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has once again failed to honor a summons from the Senate Committee on Public Accounts, deepening tensions between the legislature and the state-run oil giant over unaccounted funds reportedly totaling ₦200 trillion.
Ojulari, who was given a 10-day ultimatum to appear before the committee to respond to 11 key audit queries, instead dispatched a team of representatives to Thursday’s hearing. But the committee rejected the delegation outright, insisting that only the GCEO himself would be permitted to address the gravity of the financial concerns raised.
Senators were visibly angered by what they described as a deliberate and provocative disregard for the authority of the National Assembly. The chairman of the committee, Senator Aliyu Wadada, described Ojulari’s continued absence as a “direct affront” to the Senate and a “violation of legislative oversight responsibilities,” warning that no government official is above constitutional accountability.
The committee has been investigating a raft of troubling discrepancies in the NNPCL’s audited financial statements, discrepancies lawmakers say undermine public trust and raise alarm over potential mismanagement or concealment of funds. Despite multiple invitations and mounting public scrutiny, the NNPCL boss has failed to appear before the panel since the inquiry began.
Senator Wadada noted that a new date would be issued for Ojulari’s appearance and cautioned that continued defiance could prompt the Senate to invoke its constitutional powers. These powers include issuing a bench warrant or recommending sanctions if the corporation’s leadership continues to show what lawmakers view as willful non-compliance.
The NNPCL, which was transformed into a limited liability company under the Petroleum Industry Act (PIA), has faced increasing calls for greater transparency. This probe, particularly given the staggering amount in question, is being closely watched by the public and civil society groups advocating for accountability in Nigeria’s oil sector.
Meanwhile, calls for a full forensic audit of the NNPCL’s operations have intensified, with lawmakers and stakeholders demanding assurances that no funds are being siphoned or mismanaged under the new corporate structure.
The committee reiterated that the issues at stake were too significant to be delegated, and that the public deserves full clarity from the topmost official of the nation’s most strategic and revenue-generating corporation.
What you should know
Bayo Ojulari, CEO of the Nigerian National Petroleum Company Limited, has failed to appear before the Senate to respond to audit queries over ₦200 trillion in unaccounted funds.
The Senate Committee on Public Accounts rejected his delegation and insisted on Ojulari’s personal appearance, warning of possible sanctions if he fails to comply again. The matter has heightened calls for a forensic audit of NNPCL’s finances amid growing concerns over transparency and accountability.
