The committee has now fixed Wednesday by 3:00pm for Ojulari’s appearance and warned that failure to comply will lead to the issuance of a warrant of arrest and possible prosecution.
By Deborah Hassan
365Daily – The Senate Committee on Public Accounts has issued a 24-hour ultimatum to the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bayo Ojulari, demanding his appearance over N210 trillion in audit discrepancies — or face arrest.
This follows Ojulari’s repeated failure to honour four separate invitations to defend the company’s financial records from 2017 to 2023, which have raised serious red flags in the Senate.
Committee chairman, Senator Aliyu Wadada (Nasarawa West), issued the warning during a hearing at the National Assembly on Tuesday, where NNPCL’s Chief Financial Officer, Dapo Segun, appeared in place of the GCEO.
Segun told the committee that Ojulari could not attend the session due to a last-minute summons by President Bola Tinubu. A letter dated July 22, 2025, and read by the committee clerk, Mohammed Sani Abdullahi, said the GCEO was invited to meet the President at about 1:00pm, preventing him from honouring the Senate invitation.
But senators were unimpressed.
“This invitation is not optional,” Wadada said. “Anyone too big to comply with the law should consider relocating.”
The Senate probe centres on an audit report that uncovered N210 trillion in financial irregularities at NNPCL, including N103 trillion in unsubstantiated liabilities. Lawmakers noted that only N3–N5 trillion was recorded in the company’s profit and loss account during the six-year period under review, a discrepancy they say requires urgent explanation.
Wadada stressed that while the committee is not accusing the company of theft, the figures must be clarified publicly. He described the GCEO’s continued absence as “insulting” and a slight not just to the committee, but to Nigerians.
Senators also warned NNPCL’s external auditors, who have similarly failed to appear, that they risk arrest if they ignore future invitations.
Anger simmered across the committee as members expressed dissatisfaction with Ojulari’s conduct.
Senator Victor Umeh (Anambra Central) said the presidential invitation may explain Ojulari’s latest absence but warned that invoking President Tinubu’s name “should not become an excuse.”
Senator Joel Thomas Onowakpo (Delta South) was more direct: “To me, the NNPCL boss thinks that he is bigger than this committee. We don’t need a soothsayer to tell us that he will never honour our invitation unless we compel him.”
Senator Aminu Abbas (Adamawa Central) echoed that view, saying: “No GCEO is bigger than the National Assembly. For failing to honour four invitations, he should be ordered to appear tomorrow.”
The committee has now fixed Wednesday by 3:00pm for Ojulari’s appearance and warned that failure to comply will lead to the issuance of a warrant of arrest and possible prosecution.
“Public confidence in NNPCL depends on transparency and accountability,” Wadada added. “We are prepared to use the full weight of our constitutional powers.”