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Senate rejects NNPCL’s Explanations on unaccounted N210trillion

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…threatens to subpoena former GMDs

From Hassan Taiye

The Senate Tuesday through its committee on Public Accounts , rejected written explanations forwarded to it by management of the Nigerian National Petroleum Company Limited ( NNPCL) on unaccounted N210trillion from 2017 to 2023.

The Committee headed by Senator Aliyu Wadada Ahmed ( Nasarawa West) had on the strength of 19 different queries raised against NNPCL by Office of the Auditor – General of the Federation in the financial reports of 2017 to 2023 , directed NNPCL to account for N210trillion financial infraction as contained in the reports .

Though the management of NNPCL in line with the directive, responded to the 19 queries through written explanations but failed to physically appear before the Committee on Tuesday ( November 11, 2025) as earlier suggested and agreed .

Irked by the development , the committee through its Chairman at the session , slammed the Group Chief Executive Officer ( GCEO) of NNPCL, Engineer Bayo Ojulari for offensive evasiveness which according to him, will not make the committed recognise any representation from NNPCL again ,

He said : ” Today, November 11, 2025, was a date chosen by NNPC. it is rather unfortunate that none of the officials of NNPC is here on a date they themselves chose.”

“The public has been waiting for this. It is important that we keep Nigerians informed. Even though we cannot conclude today in the absence of NNPC officials, the committee must share our findings based on the responses already submitted by NNPC.”

He revealed that NNPC’s financial submissions raised serious red flags — particularly claims of ₦103 trillion in accrued expenses and ₦107 trillion in receivables, totaling ₦210 trillion between 2017 and 2023.

“NNPC claimed ₦103 trillion as accrued expenses and ₦107 trillion as receivables — amounting to ₦210 trillion. On question eight, NNPC’s explanation on the ₦107 trillion receivables — equivalent to about $117 billion — contradicts available facts and evidence provided by NNPC itself. The committee is duty-bound to reject this”, he said

He further questioned how NNPC could pay ₦103 trillion in cash calls to joint venture partners in 2023 alone, despite generating only ₦24 trillion in crude revenue between 2017 and 2022.

“Cash call arrangements were abolished in 2016 under the Buhari administration. How can NNPC claim to have paid ₦103 trillion in one year, when it only generated ₦24 trillion in revenue over five years? Where did NNPC get that money?

“As far as this committee is concerned, that figure is unjustifiable and unacceptable. The ₦103 trillion must be returned to the Treasury. This will be concluded when NNPC appears before us.”

He added that the committee also outrightly rejected the ₦107 Trillion receivables which stand for assets in accounting.

“NNPC claimed of ₦107 trillion as receivables — part of which they said was held in defunct banks. However, no bank or amount was named.

“This lack of transparency is unacceptable. By the time you combine both figures — ₦103 trillion and ₦107 trillion — NNPC must account for ₦210 trillion.

“If the present management of NNPC is finding it difficult to provide acceptable answers, it is better they say so. The committee will not hesitate to subpoena former officials of NNPC and NAPIMS.

“NAPIMS, by law, is a department under NNPCL and cannot maintain an independent account. Yet, NAPIMS has been operating as if it were a separate entity”, he stressed .

He warned that any future absence of NNPC’s Group Chief Executive Officer (GCEO) before the committee would no longer be tolerated.

“At any point this committee invites NNPC, the Chief Executive must appear in person. Being out of the country will no longer be accepted as an excuse. The next invitation will require the GCEO’s physical presence.”

In their separate remarks , all members of the committee present at the session , supported the decisions announced by the Chairman .

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TAU reaffirms commitment to globally competitive learning

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  • As 16 graduands make First Class

Stephen Olufemi Oni, Ilorin

The Thomas Adewumi University (TAU), Oko-Irese, in the Irepodun local government area of Kwara State, has reaffirmed its commitment to strengthening quality education, innovation, and globally competitive learning.

Speaking at the institution’s 2nd Convocation ceremony in Oko-Irese, the Vice Chancellor of the University, Professor Francisca Onaolapo Oladipo, said TAU is living up to its ranking as the fastest growing institution in Science, Technology, Engineering, Medicine, and Innovation (STEM-i) ecosystem by surpassing more than 100 percent in its number of graduating students at the second convocation.

She said: “TAU emerged on April 8, 2021, as Nigeria’s fastest-growing Science, Technology, Engineering, Medicine and Innovations (STEM-i) ecosystem. Today, we rank 1st among the 20 private universities that were licensed in
2021, 4th among the 14 Universities in Kwara State, 5th among Nigeria’s over 170 private Universities and 50th nationally, an impressive rise reflecting our unwavering commitment to excellence.

”What a Moment of Extraordinary Significance today, we stand at a crossroads far more significant than words can adequately capture. Exactly one year ago, we gathered at this very Auditorium to celebrate our inaugural Convocation, a ceremony that marked the graduation of 26 pioneering students who dared to believe in a vision when others saw only impossibility. Those 26 trailblazers proved that Thomas Adewumi University was not just a dream, but a reality rooted in excellence. Today, as we honour 63 outstanding graduates, we witness something far more profound than numerical growth.

“This 142% increase in our graduating class is not merely a statistic to be recorded in annual reports, it is a declaration that Thomas Adewumi University has transcended the realm of promise and entered the domain of proof.

“We have moved from potential to performance, from aspiration to achievement, from vision to velocity.
This year, 63 graduands from 4 Faculties and 11 academic programmes are being conferred. It is noteworthy that we have 16 First Class graduates, 40 in Second Class Upper Division, and 7 in Second Class Lower Division. These results reflect the quality of training and mentorship provided at Thomas Adewumi University, and we are proud to contribute these innovators to both the Nigerian and global workforce, confident that they will make a meaningful
impact.

”Preparing Globally Competitive Graduates, these 63 graduands are not merely degree holders, they are comprehensively prepared global professionals equipped with exceptional advantages that set them apart from their peers nationwide. Through our international partnerships, these graduates have obtained additional microcredentials from MIT, Harvard, Stanford, Columbia, Berkeley, and Yale, world-class certifications from Alison, UK, RUDN professional University, Russia, World Bank’s Saylor Academy, Google, ICAN, and the Global Partnership for Sustainable Development initiatives in Data Science and Artificial Intelligence.

“Our Coursera collaboration provided them with additional industry certifications, while partnerships with Microsoft, IBM SkillsBuild, and MIT OpenCourseWare through our Global Campus initiative democratize access to cutting-edge knowledge. They are thus fully equipped to embark on meaningful and innovative careers in today’s technology-driven world.”

Earlier in his Convocation Lecture, titled “Crowdfunding Opportunities forstartups: Equiping Nigerian graduates for a sustainable future”, Dr. Bayo Williams Olugbemi charged the graduads on the mindset of job creation, saying “as a graduate, your future is not defined by what Nigeria gives you, but by what you create. The idea of crowdfunding is the idea of hope. It is proof that when people come together, ideas once impossible become achievable.

“I urge you not to think only about searching for jobs. Instead, think about creating value, and if capital is a barrier, remember: “The crowd can be your first investor.”

In his goodwill message, the Executive Secretary of the National University Commission, Professor Abdullahi Ribadu, represented by Esther I. Eyo, Esq commended the resilience of TAU management said “NUC acknowledges TAU sustained progress in advancing quality teaching, impactful research, innovation, and community engagement, all of which align with our national aspiration for a globally competitive and knowledge-driven university system.

“It would interest you to know that, in the accreditation exercise conducted in 2023, Thomas Adewumi University achieved a 100% Full Accreditation status across all programmes assessed a laudable feat that reflects the University’s strong commitment to maintaining high academic standards.”

Also speaking, the Founder/Chancellor of the institution, Dr. (Engr) Johnson Adewumi, urged the graduands to be good ambassadors of the University, adding: “Remember that your degree is not an end but a beginning, go forth with courage, humility, and a sense of responsibility. Strive to illuminate whatever space you occupy with the light of integrity, excellence and service.”

Highlight of the event was the conferment of an honorary doctorate degree on two distinguished personalities; Engr Oluseyi Afolabi and Pastor Oladokun Olatunde.

End

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L-r Speaker, House of Representatives, Tajudeen Abbas; President of the Senate, Godswill Akpabio and Nigeria’s First Lady, Senator Oluremi Tinubu, during the dinner for members of the National Assembly by the First Lady yesterday. Photo: Senate President’s Office.

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JUST IN: Even Tinubu moves with too many police escorts – Senator Ndume

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By Hassan Taiye

Senator Ali Ndume has criticised what he described as the excessive use of security convoys by top government officials, including President Bola Tinubu, warning that the practice leaves ordinary citizens exposed and vulnerable.

Speaking on Politics Today on Channels Television on Thursday, Ndume said many public office holders move with security details that are unnecessarily large, even when their positions do not warrant such heavy protection.

He recalled visiting the residence of a colleague and finding “more than 10 policemen” attached to him, despite the lawmaker being junior to him in the National Assembly.

Ndume further argued that the presidential convoy itself is excessively large, stressing that security efforts should be focused on protecting the overall environment rather than individual personalities.

He said: “I went to one of my colleagues’ house for dinner. And I saw more than 10 policemen. He is even my junior in the National Assembly. Some of them, if you see them coming, you will pull back thinking that maybe it’s the President or the Vice President that is coming.

You can see even the president, the convoy that the president goes about with is too much. Secure the place and when the president goes, you withdraw. Secure Abuja and the president can even drive out, you know, himself.

But when you secure personalities, and this is what is happening in Nigeria, then others, common people, as we call them, become vulnerable, and we don’t care. So if you secure Abuja, then you can drive at night. And let me tell you, this is what is happening in most countries”.

The lawmaker’s comments come just days after President Tinubu ordered the withdrawal of police officers from VIP escort and guard duties.

In a statement, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the directive was aimed at redeploying police manpower to core law enforcement responsibilities.

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