The Chairman of the Senate Committee on Public Accounts, Aliyu Wadada, says the committee is not satisfied with the explanations given by the leadership of Nigerian National Petroleum Company Limited over alleged ₦210 trillion discrepancies in its financial records.
Wadada made the statement during an ongoing review by the Senate committee. The panel is examining the financial reports and operational accounts of the national oil company. However, lawmakers say the responses presented so far have not fully addressed their concerns.
Senate Seeks Clear Answers
First, the committee demanded detailed clarification on the figures in the records. According to Wadada, the explanations provided by the company’s management remain insufficient.
He stressed that the committee expects transparency from institutions that manage public resources. Therefore, the panel will continue its review until it receives clear and verifiable answers.
In addition, Wadada noted that the discrepancies raised serious questions. As a result, lawmakers require further documentation from the company.
Concerns Over Financial Records
Meanwhile, members of the committee expressed concern about the size of the figures involved. They said the financial records require careful examination.
The committee also asked the company to provide additional documents. This step, lawmakers said, will help them verify the claims and understand the source of the discrepancies.
Furthermore, Wadada emphasized that oversight remains a constitutional duty of the National Assembly. Because of this responsibility, the committee must ensure that public funds are properly managed.
Importance of Transparency
Nigeria’s oil sector plays a major role in the country’s economy. Therefore, transparency in the operations of the national oil company remains essential.
Lawmakers stressed that strong accountability helps build public trust. It also encourages confidence among investors and industry stakeholders.
For this reason, the Senate committee insists that the issues raised must be addressed thoroughly.
Investigation Continues
Finally, Wadada confirmed that the committee will continue its investigation. The panel plans to hold further sessions with officials of the company.
He also noted that the goal is not to target individuals. Instead, the committee wants clear explanations and proper financial accountability.
Until then, the Senate panel says it will keep pressing for answers regarding the alleged ₦210 trillion discrepancies.
