Senate Committee Rejects NNPCL’s Explanation of ₦210 Trillion Financial Discrepancy

The Senate Committee on Public Accounts has expressed dissatisfaction with explanations provided by the leadership of the Nigerian National Petroleum Company Limited (NNPCL) over an alleged ₦210 trillion discrepancy in the company’s audited financial statements. The committee said the responses from Group CEO Bayo Ojulari and his team were inadequate and unsatisfactory.

Chairman of the committee, Senator Aliyu Wadada, revealed the concerns during an interview on Channels Television’s Sunday Politics. He noted that the discrepancies were identified during the review of NNPCL’s audited accounts from 2017 to 2023, with lawmakers flagging financial entries that lacked sufficient supporting documentation.

Among the disputed entries, ₦103 trillion was recorded as accrued expenses under liabilities, allegedly linked to Joint Venture cash calls, while ₦107 trillion appeared as sundry receivables, reportedly owed by banks and other entities but difficult to verify due to limited transparency. The committee described these figures as “mind‑boggling” and stressed that they were not adequately justified.

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The committee has also summoned former top executives, including immediate past Group CEO Mele Kyari, to provide further explanations. Senator Wadada said that standard accounting practice requires all assets and liabilities to pass through profit and loss accounts before being recognised, a step the committee found insufficiently documented in NNPCL’s accounts.

Responding to earlier queries, NNPCL officials said the alleged discrepancies stemmed from accounting adjustments, timing differences, and technical classifications, promising to reconcile the figures and provide further documentation. The committee has given the company a strict timeline to submit reconciled records and prepare for a public hearing after the Eid holiday.

Lawmakers also questioned ₦5.9 billion spent on NNPCL’s rebranding, as well as costs related to subsidies and production. Senator Wadada emphasised that the investigation is focused on accountability and transparency, and is not politically motivated, although the committee may question any relevant government official, including the Minister of Petroleum Resources, if necessary.

Meanwhile, the federal government recently introduced Executive Order No. 9 of 2026, signed by President Bola Tinubu, to reform aspects of the fiscal framework of the Petroleum Industry Act 2021, including directing that revenues from Production Sharing Contracts go directly into the Federation Account and suspending certain deductions previously retained by NNPCL.

The probe continues to attract widespread public interest, highlighting concerns over financial governance and transparency in Nigeria’s oil and gas sector.

Senate Committee Rejects NNPCL’s Explanation of ₦210 Trillion Financial Discrepancy

Viral Video Shows Man Disarming Robbers After Minna Bank Heist, ₦10m Stolen

A yet‑to‑be‑identified man in Minna, Niger State, fought back bravely after armed robbers trailed him from a bank to a nearby commercial complex along Shiroro Road, disarming one of the assailants in a dramatic confrontation that was captured in a viral video online. Despite his courageous response, the robbers escaped with about ₦10 million in cash and the victim’s Toyota Camry.

The incident happened on Friday, 6 March 2026, around 3 p.m., shortly after the man had withdrawn the money from a bank in Minna. Footage widely shared on social media shows two suspects alighting from a silver Toyota Corolla and approaching the man’s blue Toyota Camry as he stood outside a complex. They forced him out of his car and moved the cash into their vehicle.

In a bold counter, the man wrestled a rifle from one of the robbers, fired several shots in self‑defence, and appeared to disrupt the attackers’ escape plan. The robbers fired back at the victim, but none of the bullets struck him. After a brief and intense exchange of gunfire, the suspects fled the scene in the victim’s car, abandoning their own vehicle and the attempted robbery.

In an interview shared by The Peoples Gazette, the shirtless victim said he initially thought the armed men were policemen before they opened fire. “Two of them just came out of a car. I didn’t even know who they were. I initially thought they were policemen and asked what my offence was … but they started shooting at me,” he recounted. He added that he did not know how he managed to snatch the rifle and return fire, describing it as “a moment of adrenaline.”

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Police Response and Investigation

Confirming the attack, Niger State Police Command spokesperson SP Wasiu Abiodun said that the victim was trailed from a bank to Shiroro Road and robbed of his money and vehicle. Police operatives from the Tudun‑Wada Division moved rapidly to the scene, recovered the robbers’ abandoned Toyota Corolla, and retrieved the rifle handed over by the victim. The case has since been transferred to the State Criminal Investigation Department (SCID) in Minna for further investigation.

SP Abiodun added that the victim’s Toyota Camry was later found abandoned at a different location, suggesting the robbers dumped it while fleeing. Efforts are ongoing to apprehend the fleeing suspects as part of a wider crackdown on armed robbery in the state.

Viral Video and Public Reaction

Social media reactions to the viral video were immediate, with many users applauding the man’s bravery and questioning why police had not arrived earlier to prevent the robbery. Commenters said the footage — widely shared on platforms like Twitter, Facebook, TikTok and WhatsApp — highlighted both the courage of the victim and the urgent need for enhanced security around banks and public spaces in Minna.

Some viewers described the encounter as a “real‑life action movie,” while others called on authorities to increase patrols on Shiroro Road and other known robbery hotspots. Several commenters noted that the man’s resistance may have forced the robbers to alter their escape plan and inadvertently created opportunities for police to recover key evidence.

Rising Concerns Over Bank‑Related Robberies

The Minna incident adds to growing concerns about daylight armed robberies and attacks targeting bank customers in parts of Niger State and neighbouring regions. Security analysts say such incidents often involve strategic surveillance of bank patrons and rapid getaways, highlighting persistent security gaps on major roads and commercial corridors.

Authorities have called on residents to remain vigilant, report suspicious movements immediately, and avoid displaying large amounts of cash after banking transactions.

CCTV shows a man trailed from the bank (after withdrawing ₦10M) in Minna. Robbers confronted him, sh0ts fired. He fought back, disarmed one, and sh0t that robber.

NEPA | March Madness | Khadee | #OnitshaBusinessHangout | #ZenithBankCelebratesWomen | Dunamix pic.twitter.com/iBLqLMD1K3

— Newstrends.Ng (@Newstrends_ng) March 9, 2026

Viral Video Shows Man Disarming Robbers After Minna Bank Heist, ₦10m Stolen

Abduction of Corps Member Sparks Calls to Suspend NYSC

The Founder of the Onono Onimisi Foundation, Onono Onimisi, has urged the Federal Government of Nigeria to suspend or significantly reform the National Youth Service Corps (NYSC) scheme, citing escalating insecurity and the growing risks faced by corps members across the country.

In a statement released over the weekend in Abuja, the girls’ education and youth safety advocate warned that the deteriorating security environment has made the NYSC programme increasingly unsafe, particularly for young graduates posted outside their home states. She stressed that continuing the scheme without adequate protection is irresponsible and could place thousands of youths in danger.

Onimisi highlighted the recent abduction of a corps member identified as Abba, who was reportedly kidnapped and tortured while traveling home after completing his national service. She described the incident as a “serious warning” about the vulnerabilities faced by corps members nationwide and argued that if one member could fall victim today, any corps member could be next.

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The advocate noted that thousands of graduates are posted annually to unfamiliar states, often requiring travel on roads plagued by kidnapping, banditry, and terrorism. She argued that the NYSC scheme, originally established to promote national unity and integration, has become outdated in the current security climate and should either be temporarily suspended or comprehensively restructured until Nigeria becomes secure enough to operate the programme safely.

While acknowledging the importance of the NYSC for nation-building and youth development, Onimisi stressed that the government must first ensure the protection of corps members. She urged authorities to implement enhanced security protocols, better welfare measures, and risk assessments for corps members before posting them to any location.

Onimisi’s call echoes growing public concerns over the safety of young Nigerians in the face of rising insecurity, including multiple reports of kidnappings, armed attacks, and violent crimes targeting travellers, students, and corps members.

The NYSC scheme, established in 1973, has long been a symbol of national integration, but experts and advocates now argue that the current security challenges demand urgent reforms to protect participants and maintain public confidence in the programme.

Abduction of Corps Member Sparks Calls to Suspend NYSC