The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has once again failed to appear before the Senate Committee on Public Accounts, defying a 10-day ultimatum issued on June 26, 2025, over unaccounted funds totaling ₦200 trillion.
The latest no-show occurred during a scheduled hearing on Thursday, July 10, 2025, at the National Assembly, where Ojulari sent a delegation of representatives instead. The committee, chaired by Senator Aliyu Wadada, rejected the delegation, insisting that only the GCEO himself can address the 11 critical financial queries raised from the company’s audited statements spanning 2017 to 2023. This marks the third time Ojulari has avoided a summons, intensifying tensions between the legislature and the state-owned oil giant.
The ₦200 trillion discrepancy, highlighted in NNPCL’s financial records, includes ₦103 trillion in accrued expenses and ₦107 trillion in receivables, with lawmakers flagging undocumented legal and audit fees as a major concern. Wadada described Ojulari’s absence as a “deliberate affront” to the National Assembly’s oversight authority, warning that further disregard could lead to constitutional sanctions, including a potential subpoena.
The committee’s frustration stems from NNPCL’s request for a two-month extension, citing a management retreat, which was dismissed as unacceptable. NNPCL, now a limited liability company under the Petroleum Industry Act, remains subject to legislative scrutiny, with senators vowing to protect public funds. The next hearing date is yet to be set, but the probe is poised to escalate.