From Kolade Dennis
The Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has come under intense scrutiny after Senator Adams Oshiomhole accused him of attempting to conceal massive financial irregularities within the state-owned corporation.
Speaking during a session of the Senate Committee on Public Accounts, Oshiomhole criticised the NNPCL leadership for repeatedly failing to appear before the committee to defend its financial records.
According to the former Edo State governor, the corporation has yet to provide “satisfactory explanations” over disputed figures, adding that the alleged mismanagement involves sums “far exceeding the amount President Bola Tinubu’s administration is seeking to borrow from foreign lenders.”
Oshiomhole insisted that the Senate must invoke its constitutional powers, if necessary, to compel Ojulari’s appearance.
He described the contentious subsidy charges on refined products as “monumental fraud,” stressing that the GMD has consistently avoided opportunities to clarify the discrepancies.
The Senate panel, chaired by Senator Aliyu Wadada, had earlier rejected NNPCL’s financial submissions, which include claims of N210 trillion in expenses and receivables from 2017 to 2023.
Wadada vowed that the committee would deepen its probe into the accounts of the national oil company to ensure transparency and uphold the Senate’s oversight mandate.
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