Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Reps Threaten To Arrest JAMB Boss Oloyede For Shunning Summon, Order Detention Of Officials Over Walkout
    • National Assembly Approves Tinubu’s $2.35bn External Loan Request
    • Senate Confirms Nomination Of All Service Chiefs
    • Court Orders Permanent Forfeiture Of $49,700 Recovered From Ex-INEC REC
    • UPDATED: Tinubu Reverses Maryam Sanda’s Pardon, Convict To Spend Just Six More Years In Prison
    • Kano Assembly Rejects Customs Recruitment, Says Lagos Got More Slots Than Northern States Combined
    • ‘We Can’t Overcome Terrorism With Weak Information Systems’, CDS Tells Senate
    • Gombe Among Only Seven States In Nigeria With Over 80% Health Budget Implementation – Report
    Facebook X (Twitter) Instagram
    NEWS POINT NIGERIANEWS POINT NIGERIA
    UBA 720X90
    • HOME
    • NEWS

      Reps Threaten To Arrest JAMB Boss Oloyede For Shunning Summon, Order Detention Of Officials Over Walkout

      October 29, 2025

      National Assembly Approves Tinubu’s $2.35bn External Loan Request

      October 29, 2025

      Senate Confirms Nomination Of All Service Chiefs

      October 29, 2025

      Court Orders Permanent Forfeiture Of $49,700 Recovered From Ex-INEC REC

      October 29, 2025

      UPDATED: Tinubu Reverses Maryam Sanda’s Pardon, Convict To Spend Just Six More Years In Prison

      October 29, 2025
    • COLUMN

      Dr Madu, The Shamaki Of Fika, Who Became A Doctor Through Providence – By Dr Hassan Gimba

      October 26, 2025

      Fashola’s Reality Check For APC Leadership – By Kazeem Akintunde

      October 26, 2025

      ‘Why Nigeria Needs More Universities, After All’ (2) – By Martins Oloja

      October 26, 2025

      Africa’s Power Addiction – By Jonathan Nda-Isaiah

      October 25, 2025

      Aparutu And His Life Coach – By Azu Ishiekwene

      October 24, 2025
    • EDUCATION

      FG Names Prof. Adamu Acting Vice-Chancellor To Steer UniAbuja For Three Months

      August 9, 2025

      13 Countries Offering Free Or Low-Cost PhD Programmes For Non-Citizens

      January 25, 2025

      NECO: Abia, Imo Top Performing States In Two Years, Katsina, Zamfara Come Last

      October 3, 2024

      NBTE Accredits 17 Programmes At Federal Polytechnic Kabo

      August 20, 2024

      15 Most Expensive Universities In Nigeria

      May 19, 2024
    • INTERNATIONAL

      Israel Kills 20 In Gaza attacks, Hamas Delays Handover Of Captive’s Remains

      October 29, 2025

      North Korea Test-Fires Cruise Missiles As Trump Visits South Korea

      October 29, 2025

      Despite Ceasefires, Israel Continues Attacks Around The Region

      October 28, 2025

      Tension As Lithuania Shoot Down Smuggler Balloons, Shut Belarus Border

      October 28, 2025

      ‘They Killed His Childhood’, West Bank Family Mourn Child Killed By Israel

      October 26, 2025
    • JUDICIARY

      FULL LIST: Judicial Council Recommends Appointment Of 11 Supreme Court Justices

      December 6, 2023

      Supreme Court: Judicial Council Screens 22 Nominees, Candidates Face DSS, Others

      November 29, 2023

      FULL LIST: Judicial Commission Nominates 22 Justices For Elevation To Supreme Court

      November 16, 2023

      Seven Key Issues Resolved By Seven Supreme Court Judges

      October 26, 2023

      FULL LIST: CJN To Swear In Falana’s Wife, 57 Others As SANs November 27

      October 12, 2023
    • POLITICS

      What Peter Obi May Lose If He Joins Coalition As VP Candidate

      May 25, 2025

      Atiku Moves To Unseat Wike’s Damagum As PDP Chairman, Backs Suswam As Replacement

      April 15, 2024

      Edo’s Senator Matthew Uroghide, Others Defect To APC

      April 13, 2024

      Finally, Wike Opens Up On Rift With Peter Odili

      April 2, 2024

      El-Rufa’i’s Debt Burden: APC Suspends Women Leader For Criticising Kaduna Gov

      March 31, 2024
    • SPORTS

      Reps Set To Probe Nigerian Football Federation Over FIFA Grants

      October 29, 2025

      Super Falcons Seal 2026 WAFCON Qualification With 3–1 Aggregate Win Over Benin

      October 29, 2025

      Peter Obi Slams NFF Over Abandoned FIFA-Funded Stadium As Fresh Allegations Of Misused Funds Surface

      October 28, 2025

      Timber Warns Premier League Leaders Arsenal Against Complacency

      October 28, 2025

      ‘Nigeria Will Go To World Cup’, Coach Chelle Vows

      October 26, 2025
    • MORE
      • AFRICA
      • ANALYSIS
      • BUSINESS
      • ENTERTAINMENT
      • FEATURED
      • LENS SPEAK
      • INFO – TECH
      • INTERVIEW
      • NIGERIA DECIDES
      • OPINION
      • Personality Profile
      • Picture of the month
      • Science
      • Special Project
      • Videos
      • Weekend Sports
    NEWS POINT NIGERIANEWS POINT NIGERIA
    UBA 720X90
    Home - ₦210 Trillion Unaccounted Fund: NNPCL Pleads For More Time As Senate Tightens Probe

    ₦210 Trillion Unaccounted Fund: NNPCL Pleads For More Time As Senate Tightens Probe

    By Maryam GarbaOctober 8, 2025
    Ojulari NNPC 2

    THE Senate has disclosed that the Nigerian National Petroleum Company Limited (NNPCL) has requested additional time to clarify audit queries involving an alleged ₦210 trillion in unaccounted funds spanning seven financial years, from 2017 to 2023.

    His Royal Highness

    News Point Nigeria reports that this revelation came from the Senate Committee on Public Accounts (SPAC), which is currently investigating discrepancies flagged by the Office of the Auditor-General for the Federation in NNPCL’s audited financial statements.

    In July, the committee had summoned the NNPCL Group Chief Executive Officer, Engr. Bayo Ojulari, and given the company three weeks to provide detailed explanations on 19 separate audit queries raised against it.

    UBA

    However, following a written request for an extension, the Senate granted NNPCL more time to compile and submit its comprehensive response.

    Speaking with journalists after Tuesday’s plenary, the Chairman of the Committee, Senator Aliyu Wadada (Nasarawa West), confirmed that the company has now submitted its responses to all the audit questions but that the committee is yet to scrutinise the documents.

    Independence Day

    “While we were on recess, the management of NNPCL wrote to the committee requesting an extension of time to enable them to compile data and respond comprehensively to the questions we raised and we granted that request,” Wadada explained.

    “They have since responded, and we now have answers to all 19 questions we sent to them. However, the report is yet to be presented before the committee. That is why, as chairman, I have refrained from making any public statement on the matter until it is properly laid before members.”

    Happy Birthday

    The senator assured Nigerians that the committee will “do justice” to the matter and present a thorough and transparent report once the review is completed.

    He further revealed that the Public Accounts Committee’s investigation is not limited to the audit queries alone, but also extends to production sharing contracts (PSCs), crude oil production cost structures, and the revenue allocation framework between the NNPCL, international oil companies (IOCs), and the Federal Government.

    Nigerian TAX Reform - Federal Goverment

    “Beyond the audit queries, we are also examining production sharing contracts and how revenues are divided. Nigerians deserve full disclosure on these matters,” he said.

    Wadada also raised concerns over reports that NNPC Retail, the company’s downstream subsidiary declared operational losses despite its monopoly over fuel supply during a period of record-high revenues in the oil sector.

    “We find it difficult to understand why NNPC Retail should record a loss, but we will seek clarification when the corporation appears before us,” he noted.

    National Orientation Agency Page UP
    National Orientation Agency - Down

    The ₦210 trillion financial query represents one of the largest sums ever scrutinised in Nigeria’s legislative history and has reignited public debate over transparency and accountability in the operations of the national oil company, which was commercialised under the Petroleum Industry Act (PIA) in 2021.

    Senator Wadada reassured the public that once the committee concludes its review, Nigerians will be fully informed of its findings.

    “As far as the audited financial statements are concerned, which cover the period between 2017 and 2023, NNPCL has submitted its responses to the 19 questions we asked. Nigerians and the media will be informed of the contents in due course. Out of those answers, the ones that make sense and those that do not will be evident to the public,” he said.

    Rano Capital

    ₦210 trillion NNPCL Senate Unaccounted Funds
    Share. Facebook Twitter WhatsApp LinkedIn Telegram Email

    Related Posts

    Reps Threaten To Arrest JAMB Boss Oloyede For Shunning Summon, Order Detention Of Officials Over Walkout

    October 29, 2025

    National Assembly Approves Tinubu’s $2.35bn External Loan Request

    October 29, 2025

    Senate Confirms Nomination Of All Service Chiefs

    October 29, 2025

    Court Orders Permanent Forfeiture Of $49,700 Recovered From Ex-INEC REC

    October 29, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Latest Posts

    Reps Threaten To Arrest JAMB Boss Oloyede For Shunning Summon, Order Detention Of Officials Over Walkout

    October 29, 2025

    National Assembly Approves Tinubu’s $2.35bn External Loan Request

    October 29, 2025

    Senate Confirms Nomination Of All Service Chiefs

    October 29, 2025

    Court Orders Permanent Forfeiture Of $49,700 Recovered From Ex-INEC REC

    October 29, 2025

    UPDATED: Tinubu Reverses Maryam Sanda’s Pardon, Convict To Spend Just Six More Years In Prison

    October 29, 2025
    Advertisement
    WIDGET ADS
    News Point NG
    © 2025 NEWS POINT NIGERIA Developed by ENGRMKS & CO.
    • Home
    • About us
    • Disclaimer
    • Our Advert Rates
    • Privacy Policy
    • Terms of Use

    Type above and press Enter to search. Press Esc to cancel.

    Join Us On WhatsApp