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

Published

5 months ago

March 9, 2026

Senate passes Bill proposing N50,000 fine for preaching, hawking in commercial buses

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

Related Topics:Featured Financial Discrepancy NNPCL Senate

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23 Farmers Killed as Bandits Launch Deadly Attack on Zamfara Community

Published

40 seconds ago

July 23, 2026

Trends Admin

Zamfara State Commissioner of Police Muhammad Dalijan

23 Farmers Killed as Bandits Launch Deadly Attack on Zamfara Community

Gunmen on motorcycles stormed farming villages in Talata Mafara LGA, shooting farmers in their fields and rustling livestock in a three-hour rampage that has left communities in mourning.

No fewer than 23 farmers were killed on Wednesday, July 22, 2026, after suspected bandits launched a deadly assault on the Sauna/Ruwan Gora community in Talata Mafara Local Government Area of Zamfara State, residents have confirmed. The attackers, who arrived on numerous motorcycles, initially passed through the village without causing any harm before returning later to unleash violence on farmers working in their fields. According to residents who spoke with Daily Trust on condition of anonymity, the armed men first appeared at about 2:00 p.m., riding through the village peacefully as residents watched them move by. One resident recounted that people were even counting the number of motorcycles conveying the gunmen, believing they were not the target. However, the assailants later came back and opened fire on farmers, pursuing those who attempted to flee. The resident explained that the bandits attacked farmers on their respective farms, chased down those who ran for safety, and killed them.

Local accounts indicate that 16 farmers were killed on the spot, while seven others who sustained gunshot wounds later died at the General Hospital in Talata Mafara. The casualty figure has been corroborated by Sauna district secretary Alhaji Shehu Garba, who confirmed 23 deaths across five villages. Reuters, citing residents, reported at least 24 farmers killed, with the count still ongoing. Another resident who spoke on condition of anonymity claimed the death toll could be as high as 25, noting that efforts were still underway to account for those affected by the attack. A local councillor representing the Sauna district, Nasiru Lauwali, told AFP that 21 people had been killed when the bandits opened fire at around 3:00 p.m. Three others wounded by gunfire were taken to the Talata Mafara General Hospital and later transferred to the teaching hospital in neighbouring Sokoto state. According to updates from Sauna District, the death toll increased after more bodies were recovered from the farms.

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Residents said the gunmen travelled nearly 50 kilometres (31 miles) along the Mayanchi-Anka highway, a key trade route, before reaching Sauna without encountering security forces. The raid lasted for about three hours and went “unhindered,” with security forces reportedly not intervening. The attackers also rustled an unspecified number of livestock during the assault. The remains of the 23 victims were prepared for mass burial at the palace of the District Head in Sauna, with the burial conducted on Thursday, July 23, 2026. Community members appealed to both the Zamfara State Government and the Federal Government to urgently reinforce security in the area. Residents warned that if farmers continue to be killed and kidnapped, Zamfara State will definitely experience a food crisis, as the attacks are severely disrupting agricultural activities during the planting and harvest seasons.

Amnesty International has condemned the killing of farmers in Sauna Ruwan Gora Ward, describing the attack as further evidence that security measures adopted to tackle insecurity in Zamfara are ineffective. The rights organisation stated that the gunmen invaded the farming community and opened fire at close range on adults working on their farmlands. The organisation lamented that previous military interventions had failed to halt the persistent attacks, especially in rural communities, and noted that residents across Zamfara have consistently reported receiving advance warnings from armed groups before attacks are carried out. Amnesty International stated that across Zamfara State, villagers described a pattern where they receive warnings ahead of attacks, including by phone, ordering them to pay huge sums of money or be killed or abducted.

Zamfara State remains at the centre of a security crisis in Nigeria’s northwest, where armed gangs locally known as bandits frequently raid villages, kidnap residents for ransom, and steal livestock. The violence is one of a string of security challenges facing the country’s authorities, who are also battling a long-running jihadist insurgency in the northeast and separatist unrest elsewhere. While the gangs are largely motivated by financial gain and do not publicly espouse an ideology, authorities and security analysts have expressed concern over growing ties between some bandit groups and jihadist militants. Efforts to obtain official comments on the incident were unsuccessful. The Chairman of Talata Mafara Local Government Area, Yahaya Abubakar Yari, could not be reached as his mobile phone remained switched off. Similarly, the spokesperson for the Zamfara State Police Command, DSP Yazid Abubakar, did not respond to telephone calls or text messages before press time. However, security authorities are expected to issue a statement on the incident in the coming days as investigations continue.

23 Farmers Killed as Bandits Launch Deadly Attack on Zamfara Community

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Court Sentences Three to Life Imprisonment Over Oyo School Kidnapping

Published

16 minutes ago

July 23, 2026

Trends Admin

Court Sentences Three to Life Imprisonment Over Oyo School Kidnapping

Justice Salim Ibrahim also sentenced one convict to 20 years in a separate terrorism charge, with trial continuing on remaining counts.

The Federal High Court in Abuja has sentenced three men to life imprisonment for their roles in the kidnapping of schoolchildren and teachers from schools in Oriire Local Government Area, Oyo State. Justice Salim Ibrahim handed down the sentences on Thursday after the defendants pleaded guilty to multiple terrorism-related charges brought against them by the Federal Government under the Terrorism (Prevention and Prohibition) Act, 2022.

The three convicts are Abdulrazak Umar, also known as Abu Khalifa or Abu Khalid; Yunusa Musa, also known as Yunusa bin Musa; and Shamsu Adamu Sani, also known as Abu Itisar. All three men are from Suleja Local Government Area of Niger State, and their arrest followed intelligence-led investigations by the Department of State Services.

The defendants were arraigned on a 10-count charge bordering on terrorism, kidnapping, concealment of information, incitement, and illegal mining. The Federal Government alleged that between January and May 2026, the defendants conspired with Muhammad Sani, Jibril Mohammed, and Ibrahim Khabab to kidnap schoolchildren and teachers in Oriire LGA, Oyo State. Prosecutors also accused them of aiding the abduction by concealing information about the identities and activities of the alleged masterminds, despite having prior knowledge of the plot.

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The three defendants pleaded guilty to counts four and six of the charge. Count four related to the concealment of information about the terrorists who masterminded the school kidnapping, while count six addressed their membership of Darul Salam, described by the prosecution as an affiliate of Jama’atu Ansarul Muslimina Fi Biladis Sudan (Ansaru) , a proscribed terrorist organisation in Nigeria. The first defendant, Abdulrazak Umar, separately pleaded guilty to counts seven, eight, nine, and ten. These additional charges alleged that he provided training and instructions to terrorists through a WhatsApp group titled “The Oneness of Allah is the Foundation of Peace” , incited members to commit acts of terrorism through the same platform, and engaged in illegal gold mining at streams in the Chaza area of Suleja LGA between 2024 and 2026.

The Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), who led the prosecution, urged the court to convict and sentence the defendants on the counts to which they had pleaded guilty. Justice Ibrahim convicted the three defendants and sentenced each to life imprisonment. According to reports, the judge also sentenced Umar to a 20-year imprisonment on count eight. The sentences are to take effect from the date of their arrest.

The abduction that led to these convictions occurred on May 15, 2026, when armed men attacked three schools in the Esiele and Yawota communities of Oriire LGA: Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School. In total, 39 pupils and seven teachers, including a principal, were taken during the attacks. The tragedy was compounded by the loss of two teachers: Mr Joel Adesiyan was killed while attempting to escape, and Mr Michael Oyedokun was beheaded by the kidnappers. The victims regained their freedom on July 10, 2026, after spending 56 days in captivity following a military operation. The Presidency stated that no ransom was paid and no concessions were made to the terrorists to secure the release of the victims.

The defendants pleaded not guilty to the remaining counts against them, and Justice Ibrahim has adjourned the matter to September 16 and 17, 2026, for the commencement of trial on those outstanding charges.

Court Sentences Three to Life Imprisonment Over Oyo School Kidnapping

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Nigeria Customs debunks fake recruitment update, warns job seekers

Published

6 hours ago

July 23, 2026

Trends Admin

Nigeria Customs debunks fake recruitment update, warns job seekers

The Nigeria Customs Service (NCS) has warned Nigerians to disregard a fake recruitment update circulating on social media, stating that the publication did not originate from the Service and should not be trusted.

In a statement released on Thursday, the NCS described the recruitment notice as false and advised prospective applicants to rely only on information released through its official communication channels.

According to the Service, the fake publication is part of a growing trend of recruitment scams in which fraudsters exploit the desire of Nigerians seeking government jobs by circulating false employment notices and demanding money or sensitive personal information from unsuspecting victims.

“The Nigeria Customs Service (NCS) wishes to inform the public that the purported recruitment update currently circulating on some social media platforms is fake and did not originate from the Service,” the statement said.

The Service urged Nigerians to verify every recruitment-related announcement before acting on or sharing it, warning that misinformation could expose job seekers to fraud and identity theft.

It stressed that all official information regarding Nigeria Customs recruitment, promotions, screening exercises and other activities is published only through its verified communication platforms.

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The NCS advised members of the public to follow its verified Facebook page (Nigeria Customs Service) and its official Instagram, X (formerly Twitter), Threads and TikTok accounts under the handle @customsng for authentic updates.

“Members of the public are advised to disregard the publication and rely only on information disseminated through the official communication channels of the Nigeria Customs Service,” the statement added.

The Service also reminded applicants that it does not charge any fee at any stage of its recruitment process, warning that anyone requesting payment in exchange for employment should be regarded as a fraudster.

The latest advisory comes amid a resurgence of fake recruitment notices targeting applicants following increased public interest in employment opportunities within government agencies.

In recent months, the NCS has repeatedly disowned forged recruitment documents, fake screening schedules and fabricated Computer-Based Test (CBT) notifications circulated online by scammers attempting to deceive job seekers.

The Service reaffirmed its commitment to transparency, fairness and merit in its recruitment process, assuring Nigerians that whenever recruitment begins, the public will be informed through its official website and verified social media platforms.

It further urged citizens to remain vigilant by avoiding unofficial recruitment websites, refusing to make payments for employment offers and reporting suspected recruitment scams to relevant security agencies.

The NCS concluded its advisory with a reminder to Nigerians: “Stay vigilant. Verify information before sharing.”

As recruitment scams continue to evolve, the Service encouraged applicants to confirm any employment-related information through official sources before submitting applications or personal details.