CSO Urges Accountability as NNPCL Faces Senate Scrutiny Over N210tn Discrepancy

A civil society organization, Vanguard for Probity and Accountability, has called on the Nigerian National Petroleum Company Limited (NNPCL) to provide clarity over alleged financial discrepancies amounting to over N210 trillion uncovered in its audited financial statements between 2017 and 2023.

In a statement issued Thursday in Port Harcourt, the group’s National Coordinator, Dr. Joel Abba, expressed concern over the recent revelations by the Senate, describing the figures as alarming and calling for greater transparency in the management of national resources.

The Senate had on Wednesday raised concerns over what it described as “mind-boggling” inconsistencies in the company’s financial records, particularly in areas such as accrued expenses and receivables. The lawmakers issued a one-week deadline for the NNPCL to provide explanations, with the Senate Committee Chairman, Senator Aliyu Wadada, warning that the legislature would fully exercise its oversight powers.

Backing the Senate’s stance, Vanguard for Probity and Accountability accused the NNPCL Board of displaying what it termed “insensitivity” and a “lack of accountability.” The group also raised questions about reports of an alleged plan by the Board to embark on a trip to Kigali, Rwanda, using multiple private jets.

“The discovery leaves much to be desired,” the statement read. “Amid economic hardship, news of an extravagant trip—reportedly involving five private jets—only deepens public frustration.”

The group urged the Senate to remain firm in its investigation and ensure that any officials found culpable in the alleged mismanagement of public funds are held accountable.

NNPCL has not yet responded publicly to the Senate’s allegations or the civil society group’s claims.

Source: Legit.ng