The Senate Committee on Public Accounts has voiced strong displeasure over the repeated failure of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited to appear before it amid an investigation into ₦210 trillion in financial discrepancies.
Committee Chairman Senator Aliyu Wadada called the GCEO’s absence unacceptable. He criticized the pattern of sending subordinates to represent the company, insisting that correspondence on such critical matters must be personally signed by the Chief Executive and submitted ahead of scheduled hearings, not on the day itself.
Wadada clarified that the Committee has not directly accused anyone of embezzlement. However, he said NNPCL’s inability to provide satisfactory explanations for the massive figures under review raises grave accountability questions. The responsibility, he noted, rests squarely with the organization to address all outstanding concerns. 
Members of the Committee, including Senators Adams Oshiomhole and Osita Ngwu, backed the Chairman’s position. They stated that established rules require chief executives to appear in person on issues of this scale, and the Committee will not waive that standard.
The Senators warned that continued disregard for invitations may leave the Senate with no choice but to exercise its constitutional powers to compel attendance.
Chairman Wadada explained that the probe centers on NNPCL’s audited financial statements from 2017 to 2022. Investigators flagged ₦103 trillion in accrued expenses covering liabilities such as retention, legal, and audit fees, which remain inadequately explained.
Another ₦107 trillion was recorded as receivables, reportedly owed largely by unnamed defunct banks. The Committee said there was insufficient disclosure or documentation to support these claims. Together, the unresolved sums total ₦210 trillion and form the crux of the inquiry. The panel also queried ₦5.8 billion reportedly spent on NNPC’s transition to NNPCL.
Reaffirming its commitment to transparency, the Committee said it needs clear, verifiable explanations from both current and former NNPCL management to conclude its work. The GCEO has now been given until May 13, 2026 to appear. Wadada stressed that public institutions must remain accountable to Nigerians and urged full cooperation to enable the Committee to submit a comprehensive report to the Senate.
