The Senate Committee on Public Accounts, said it did not accuse the Nigeria National Petroleum company Limited (NNPCL) of embezzling N210 trillion naira.
Its chairman, Senator Aliyu Wadada (SDP, Nasarawa West), disclosed that only N2 trillion was missing in NNPC
He expressed regrets at media misrepresentation of proceedings at the last meeting with NNPCL officials.
He said: “After the last appearance the committee was portrayed as not having good knowledge of issues. We never said NNPCL stole N210trillion, but we said N2 trillion was missing and they must justify it.”
Addressing the panel before adjourning sitting to July 15, the chairman rejected a team of the Nigeria National Petroleum company Limited (NNPCL) led by the Chief Financial Officer, Dapo Segun, citing disobedience to legislative orders.
Senator Wadada, explained that Ojulari (NNPCL GCEO) must appear before the panel to provide details on the whereabouts of the funds.
He further berated the corporation for not submitting “a net-off account,” adding that accounts submitted showed accrued expenses of N3 trillion contrary to N103 trillion contained in the documents tendered before the panel by NNPCL.
Besides, the committee said NNPCL did not provide enough explanation on asset figures, as it urged it to provide clarity and prove the whereabouts of N210trn, even as it highlighted that at its last appearance NNPCL documents reflected much on cash calls withdrawn from the system in 2015 but it was claimed to have taken effect in 2017.
Members of the committee criticised corporation`s GCEO for failing to honour numerous invitations by the committee aimed at clarifying its finances.
Senator Abdul Ningi (PDP, Bauchi Central) said, “it’s crystal clear that the NNPCL GCEO has taken this committee for granted. He has never appeared before the committee. And I find it very disturbing.”
He said there was nothing personal in the committee “asking them to comply with legislators constitutional provisions.
Reacting to the explanation of the oil giant`s CFO that Ojulari was in Vienna, Austria, for the 9th International OPEC seminar, Senator Ningi said, the “NNPCL GCEO should have sent a letter long time before traveling. If he was not a GMD he wouldn’t travel to OPEC. He must understand that his responsibility is to Nigeria and the legislature not to OPEC.”
He urged the committee to use its discretion, stressing that the panel would not accept the oil sector Boss delegating a company official to appear before the committee.
Senator Adams Oshiomole (APC, Edo North), also frowned at Ojulari`s continued absence from the committee, maintaining that “Anyone who`s too big to appear before committee should relocate from the country.”
He emphasized the need to respect legislative panels, as he added that lawmakers are “Empowered by their constituents to protect the country’s funds … NNPCL has a history of fraud, embezzlement and others.”
Senator Kaka Shehu (APC, Borno Central), accused the NNPCL Head of sending junior officers to appear before a “sacrosanct committee.”
He implored the committee to invoke its powers and allow the law to take its course.
Addressing the committee, NNPCL Chief Financial Officer, Dapo Segun, expressed regret at the inability of the GCEO to appear before the committee.
