A civil society group, the North and South Movement for Justice, has criticised the ongoing Senate probe into the accounts of the Nigerian National Petroleum Company Limited (NNPCL), describing it as biased and politically motivated amid controversy over ₦210 trillion in flagged financial discrepancies.
The group, led by Dogo Yaya, was reacting to recent remarks by Senator Ahmed Aliyu Wadada, Chairman of the Senate Committee on Public Accounts, who issued a 10-day ultimatum to NNPCL to respond to 11 financial queries arising from its audited statements covering 2017 to 2023.
Wadada had described the figures under review as “mind-boggling and unacceptable,” prompting widespread public debate, with some interpreting the ₦210 trillion as missing funds, reports Daily Independent.
However, the senator has since clarified that the amount represents discrepancies and entries requiring explanation, not confirmed cases of theft or missing money.
“We are not accusing anybody of stealing money,” Wadada said in a recent interview.
“What we are asking for is accountability and clarification of figures that appear in the company’s financial statements.”
Despite this clarification, the group accused the committee of pursuing what it termed a predetermined agenda against the management of the national oil company. It alleged that the tone and approach of the probe suggested bias rather than an objective review process.
More controversially, the group alleged, without providing independently verifiable evidence, that the committee’s posture may be linked to a failed attempt to solicit a $500,000 bribe from a former Chief Finance Officer of NNPCL, Umar Ajiya Isa.
It claimed an audio recording purportedly supporting the allegation had circulated publicly, although its authenticity has not been confirmed.
According to the group, such claims raise questions about the integrity of the probe and underscore the need for transparency in legislative oversight.
“When public officials appear more interested in confrontation than clarification, it undermines confidence in the process,” Yaya said, calling on members of the committee to recuse themselves to allow what he described as a more credible investigation.
The group further argued that public accounts inquiries should remain strictly fact-driven, noting that discrepancies in large financial records can arise from accounting classifications, documentation gaps, or timing differences, rather than outright fraud.
However, supporters of the Senate’s action insist that the committee is acting within its constitutional mandate to ensure accountability in public institutions, particularly in a sector as critical as oil and gas.
The ₦210 trillion figure has continued to generate debate among stakeholders, highlighting broader concerns about transparency, public communication, and trust in oversight processes.
As the deadline issued to NNPCL approaches, attention is now focused on the company’s response and whether it will provide a detailed reconciliation of the queried figures.
The outcome is expected to shape public perception not only of the national oil company’s financial management but also of the credibility of legislative oversight in Nigeria.
