Senate threatens arrest of NNPCL boss over alleged ₦210 trillion fraud

The Senate Committee on Public Accounts has issued a stern ultimatum to the Nigerian National Petroleum Company Limited (NNPCL), threatening to arrest its Group Chief Executive Officer (GCEO), Bayo Ojulari, over alleged mismanagement of ₦210 trillion.

During a heated session at the National Assembly on Thursday, June 26, Committee Chairman Senator Ahmed Wadada expressed outrage at the failure of NNPCL officials to honour an invitation to address audit queries spanning the period from 2017 to 2023.

The lawmakers had summoned the oil company’s leadership to respond to findings suggesting the disappearance of N210 trillion from its financial records.

However, instead of appearing in person, NNPCL submitted a letter, signed by Adedapo Segun on behalf of Ojulari, seeking two additional months to prepare a response.

Reading the letter to the committee, Clerk Sani Abdullahi stated that the company cited the magnitude of the audit as justification for the delay.

But Senator Wadada firmly rejected the request, stating, “We expected representatives from the NNPCL to be before us today to answer questions thrown at them last week. Their absence is unacceptable.”

He gave the company a deadline of July 10 to appear.

“This committee was not expecting any documents from NNPCL today, but answers to the eleven questions thrown at its representatives last week. The GCEO must appear before us on July 10,” Wadada warned.

He added that failure to comply would trigger constitutional enforcement measures: “The failure to appear on the scheduled date would leave the committee with no choice but to invoke and assert all its constitutional powers to compel the GCEO’s appearance.”

The chairman also disclosed that other federal agencies, including the FCT High Court and the Ministries of Solid Minerals, Steel Development, and Finance, face similar threats of enforcement action for ignoring committee invitations.

“If they fail to appear before the committee on Tuesday next week, they will hear from us,” Wadada declared.

The committee’s probe is part of a broader accountability drive amid growing concerns over financial mismanagement in key government institutions.