The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) a strict 10-day deadline to respond to 11 critical financial queries concerning discrepancies in its audited financial statements. The committee, led by Senator Aliyu Wadada, warned that failure to comply could result in serious constitutional consequences.
The committee voiced strong dissatisfaction earlier this week over what it described as “mind-boggling and unacceptable” financial irregularities uncovered in NNPCL’s accounts. Among the issues highlighted are over 200 trillion naira in unexplained receivables and undocumented legal and audit fees spanning the years 2017 to 2023.
In a formal response on Thursday, NNPCL requested a two-month extension to address the queries, a move the committee promptly rejected. The 10-day ultimatum will expire on July 10, intensifying the pressure on NNPCL to clarify the discrepancies and ensure transparency in its financial dealings.
