Senate orders NNPC auditors to explain N210tn

The Senate Public Accounts Committee, chaired by Senator Ibrahim Hassan Dankwambo, has issued a one-week ultimatum to the external auditors of the NNPC (NNPC) to provide a detailed breakdown of over N210 trillion in unreconciled receivables and payables in the company's audited financial statements. The disputed figures comprise approximately N107 trillion in receivables and N103 trillion in payables. The auditors requested two weeks to retrieve supporting documents, but the committee rejected this, citing constitutional powers under Sections 88 and 89 of the 1999 Constitution. Lawmakers, including Senators Abdul Ahmed Ningi, Adams Oshiomhole, Babangida Useni, and Patrick Ndubueze, insisted that the auditors must defend their audit opinions and cannot hide behind client confidentiality, as NNPC is wholly government-owned. The committee emphasized that it is not alleging missing funds but that the figures remain unexplained. The auditors were ordered to reappear within one week with comprehensive schedules.