Business
Senate gives NNPC auditors one week to explain ₦210 trillion unreconciled accounts
Senate gives NNPC auditors one week to explain ₦210 trillion unreconciled accounts
The Senate Public Accounts Committee (SPAC) has given the external auditors of the Nigerian National Petroleum Company Limited (NNPC Ltd.) a one-week ultimatum to submit documents explaining more than ₦210 trillion recorded as receivables and payables in the company’s audited financial statements.
The directive followed a heated investigative hearing on Wednesday, during which lawmakers insisted that auditors who certified the accounts must provide detailed evidence to support the figures presented in the financial statements.
The committee ordered the auditors to produce comprehensive schedules and audit working papers explaining approximately ₦107 trillion listed as receivables and another ₦103 trillion recorded as payables in NNPC Ltd.’s audited accounts.
The auditors had requested two weeks to retrieve the documents, arguing that the schedules formed part of their audit working papers. However, the committee rejected the request and instead granted them just one week to comply.
Chairman of the committee, Senator Ibrahim Dankwambo, questioned why auditors who had already signed off on the financial statements required additional time to produce documents supporting the figures.
“If you already have the figures in your working papers, why do you need to go back before presenting them to this committee?” Dankwambo asked.
The auditors maintained that NNPC Ltd. remained their client and should be responsible for explaining the disputed figures. They also argued that the committee had previously agreed that officials of the national oil company would provide clarifications on the financial entries.
However, members of the committee rejected that position, stressing that external auditors are professionally responsible for defending the audit opinions they issue after certifying financial statements.
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Senator Abdul Ningi reminded the auditors that the National Assembly has constitutional powers to compel any individual or organisation to produce documents required for legislative oversight and investigations.
Also speaking, Senator Patrick Ndubueze questioned the credibility of the audit exercise, warning that failure to provide supporting schedules could cast doubt on whether the audit was conducted in accordance with accepted professional standards.
The committee also expressed dissatisfaction with previous explanations offered by NNPC Ltd., which attributed the figures largely to joint venture (JV) cash call transactions and related obligations. Lawmakers noted that those explanations failed to reconcile the receivables and payables or clearly identify the transactions, counterparties and calculations supporting the entries.
Former Edo State Governor and Senator, Adams Oshiomhole, argued that although NNPC Ltd. now operates as a limited liability company under the Petroleum Industry Act (PIA), it remains wholly owned by the Federal Government and cannot rely on commercial confidentiality to withhold information from Parliament.
According to Oshiomhole, institutions managing public assets are fully accountable to Nigerians through the National Assembly and must cooperate with legislative oversight.
Responding to concerns that the Senate was alleging financial misappropriation, Dankwambo clarified that the committee had not stated that the ₦210 trillion was missing or stolen.
He explained that the issue before the committee is that the huge receivables and payables remain unreconciled and insufficiently explained, making it necessary for the auditors to provide documentary evidence supporting the figures contained in the audited accounts.
The ongoing investigation forms part of the Senate’s broader review of audit queries arising from NNPC Ltd.’s audited financial statements covering multiple financial years. The Public Accounts Committee has been examining observations raised by the Office of the Auditor-General for the Federation, particularly those relating to financial reporting, asset management and accounting practices within the national oil company.
The committee subsequently directed the auditors to return within one week with detailed audit schedules, working papers and supporting documents explaining every component of the ₦107 trillion receivables and ₦103 trillion payables, warning that failure to comply could attract further legislative action.
Senate gives NNPC auditors one week to explain ₦210 trillion unreconciled accounts
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Railway
Nine Oxygen Cylinders Recovered as NRC, NSCDC Thwart Rail Vandalism in Osogbo
Nine Oxygen Cylinders Recovered as NRC, NSCDC Thwart Rail Vandalism in Osogbo
Suspected railway vandals fled for their lives after security operatives swooped on a railway siding serving the Dangote Steel Rolling Mills in Osogbo, Osun State, recovering nine oxygen gas cylinders allegedly deployed for the illegal operation.
The recovery operation, carried out by the Nigerian Railway Corporation (NRC) in collaboration with the Nigeria Security and Civil Defence Corps (NSCDC), followed a report of vandalisation of railway track materials at the siding, currently not in operation.
According to a statement issued by the NRC Chief Public Relations Officer, Callistus Unyimadu, and signed for the management, the Principal Track Officer (PTO), Osogbo, received a report on Friday, August 28, 2026, concerning the ongoing vandalisation of railway track materials at the location.
Following the report, the PTO proceeded to the site with security personnel, including officers of the NSCDC Railway Command. On sighting the operatives, the suspected vandals reportedly fled the scene.
A subsequent search of the area led to the recovery of nine oxygen gas cylinders, which were allegedly being used in the illegal operation.
The recovered railway materials and the surrounding area have since been secured by security personnel, the NRC said.
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Reacting to the development, NRC Managing Director and Chief Executive Officer, Dr Kayode Opeifa, commended the security personnel for their vigilance and timely intervention, describing the operation as another significant success in the sustained efforts to protect railway infrastructure from vandals and economic saboteurs.
Opeifa directed security operatives to intensify surveillance and enforcement at the Dangote Steel Rolling Mills siding and other railway corridors nationwide.
He also urged security formations across the railway network to strengthen collaboration with relevant agencies to prevent the vandalisation and theft of railway assets.
The NRC boss appealed to members of the public, particularly communities located along railway corridors, to promptly report suspicious activities around railway tracks, stations and other railway facilities.
He stressed that railway infrastructure constitutes critical national assets whose protection is essential to the safety of rail operations, sustainability of services and the economic development of the country.
Opeifa further assured that the NRC would continue to provide necessary support to security agencies in the collective effort to stamp out vandalism and other acts capable of undermining railway operations across the country.
The statement said the NRC remains committed to strengthening collaboration with security agencies to safeguard railway infrastructure nationwide.
Nine Oxygen Cylinders Recovered as NRC, NSCDC Thwart Rail Vandalism in Osogbo
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Auto
Who Drives Best? Naija Driver 2026 Opens Free National Search for Driving Champion
Who Drives Best? Naija Driver 2026 Opens Free National Search for Driving Champion
A new nationwide driving competition designed to combine driver education with practical skills testing is set to begin in September, with organisers targeting safer roads and a reduction in crashes linked to human error.
‘Dubbed Naija Driver 2026’, the inaugural Nigerian Drivers Challenge is being organised by Notch Captains Limited under the Approval in Principle and Safety Frameworks of the Automobile & Touring Club of Nigeria (ATCN), the country’s sole representative of the Fédération Internationale de l’Automobile (FIA), in collaboration with the Lagos State Drivers Institute (LASDRI).
The organisers said the initiative, which will be conducted free of charge, is aimed at creating a new culture of responsible motoring by giving licensed Nigerian drivers access to structured road-safety education, testing and practical driving assessment.
Registration and safety screening for the competition will open on September 1, 2026, through its digital learning portal. The programme is open to licensed Nigerian residents aged between 18 and 65.
According to a statement signed by Ingram Osigwe, Director of Media, Communications, Marketing and Public Relations of the organising committee, participants will undergo online training covering defensive driving, road-use regulations, crash-scene management, emergency victim stabilisation during the critical “Golden Seconds” and preventive vehicle maintenance.
The training will lead to a Unified National Computer-Based Test in October, with candidates expected to sit for the examination simultaneously across the 36 states and the Federal Capital Territory.
Project Director and Managing Director of Notch Captains Limited, Adrian Egonu, said the competition would use a decentralised verification system to ensure credible identity checks while eliminating the logistical difficulties associated with moving large numbers of candidates across the country.
Under the arrangement, the three highest-scoring candidates from each state and the FCT will undergo document verification and practical screening in their respective locations in October.
The successful state and FCT champions will then converge on Lagos for the final live-action driving competition scheduled for November 7 to 10.
The final stage will test the contestants’ vehicle-handling agility, chassis control and emergency-braking precision, with the driving trials conducted before a live and televised audience.
Beyond the competition, the organisers plan to use the platform to promote emergency response awareness among motorists, particularly on what ordinary road users can safely do during the crucial first moments after a crash before professional responders arrive.
An Executive Road Safety Advocacy Gala Night will also be held ahead of the final driving trials, bringing together government representatives and senior executives of major Nigerian conglomerates to endorse a national highway safety advocacy pledge.
The initiative is also expected to deepen motorists’ understanding of vehicle insurance and risk protection through presentations by leading motor insurance institutions.
As part of its social-impact component, the organisers said official charity visits would be made to hospitals where road-crash victims are undergoing rehabilitation.
Gender inclusion is another major component of the competition, with organisers encouraging more women to enter and compete alongside their male counterparts.
The organisers have also partnered with Skinetics Med Spa on a “Glam n Drive” package, which will feature gifts and vouchers for participants throughout the tournament, subject to applicable terms and conditions.
Osigwe urged individual motorists, corporate fleet managers, transport unions and e-hailing operators to take advantage of the free training and testing opportunities when the official portal becomes operational.
He said the ultimate objective was to ensure that Naija Driver 2026 goes beyond crowning a champion to create a nationwide pool of better-trained, safety-conscious and responsible motorists.
With the competition slogan, “Drive. Compete. Lead,” the organisers said Naija Driver 2026 would seek to demonstrate that driving excellence is not merely about speed or vehicle control, but also about knowledge, discipline, emergency preparedness and respect for other road users.
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Auto
Don’t Fight EV Fires Yourself, Fire Service Tells Motorists
Don’t Fight EV Fires Yourself, Fire Service Tells Motorists
The Federal Fire Service (FFS) has warned that Nigeria’s growing adoption of electric vehicles (EVs) and compressed natural gas (CNG)-powered vehicles is creating new emergency-response challenges that require specialised firefighting skills, equipment and safety protocols.
The Lagos Command of the FFS said conventional firefighting techniques may not be sufficient when dealing with alternative-energy vehicles, particularly electric vehicles whose lithium-ion batteries can remain hazardous long after flames have been extinguished.
Chief Superintendent of Fire, Badmus Abdulsamad, gave the warning while presenting the command’s preparedness strategy for EV and CNG emergencies at the 3rd Nigeria Auto Industry Summit (NAISU) in Lagos.
Abdulsamad explained that although battery-electric vehicles were statistically less likely to catch fire than conventional petrol-powered vehicles, EV fires presented unique dangers because of the lithium-ion battery systems.
He said one of the most serious risks was thermal runaway, a self-sustaining chemical reaction that generates intense heat and can spread rapidly from one battery cell to neighbouring cells.
According to him, a damaged battery could continue to burn, release toxic and potentially explosive vapours, produce projectile hazards and reignite hours or even days after an incident appeared to have been brought under control.
He noted that EV fires could occur while vehicles were in motion, parked or undergoing charging, with possible triggers including road crashes, penetration of battery packs by debris, previous mechanical damage, extreme weather conditions and charging-system faults.
The fire officer stressed that tackling an EV fire was fundamentally different from fighting a conventional vehicle fire.
“Firefighters must focus heavily on cooling the battery pack to prevent thermal runaway from spreading,” he said, adding that large volumes of water could be required for prolonged periods.
He warned that the risk did not end after the vehicle was towed away, as damaged EVs could reignite at towing yards, storage facilities or even fire stations.
Another major concern, he said, was the high-voltage electrical system, which could remain dangerous even after a crash. Burning lithium-ion batteries could also emit toxic and corrosive substances, including hydrogen fluoride, carbon monoxide and hydrogen cyanide.
The FFS therefore advised EV owners to use certified charging equipment, maintain their battery systems properly, avoid battery damage and minimise exposure of vehicles to extreme heat.
The Service also urged motorists to maintain safe distances when parking EVs close to buildings and warned members of the public against attempting to extinguish battery fires themselves.
“Members of the public should evacuate immediately and alert emergency responders,” Abdulsamad advised.
CNG vehicles pose separate risks
The FFS also drew attention to the distinct hazards associated with CNG-powered vehicles, particularly the high-pressure cylinders used to store compressed gas.
Abdulsamad explained that pressure-relief devices installed on CNG cylinders are designed to release gas when pressure rises to dangerous levels. However, he warned that improper intervention during a fire could worsen the situation and potentially result in cylinder rupture and powerful blast effects.
He noted that CNG fires could produce pale blue flames that are difficult to see despite generating extremely high temperatures.
Emergency responders, he said, must not approach leaking or damaged CNG cylinders without appropriate protective equipment, specialised training and a proper risk assessment.
They must also eliminate possible ignition sources and remain alert to the possibility of cylinder failure, he added.
CNG motorists were advised to install only authorised conversion kits and cylinders through certified dealers or service centres. They were also urged to subject cylinders, regulators, pipelines and electrical systems to regular inspection to detect leaks, deterioration and other faults capable of triggering fires.
Motorists were further advised to avoid prolonged parking under direct sunlight and to keep smoking and naked flames away from CNG-powered vehicles.
In the event of a CNG vehicle fire, occupants should evacuate immediately, move to a safe distance and inform emergency responders that the vehicle is CNG-powered.
They were also warned against approaching the gas cylinders or attempting to fight the fire themselves.
FFS boosts emergency-response capacity
Abdulsamad said the FFS was strengthening its ability to respond to emerging fire risks through the deployment of rapid intervention vehicles, fire bikes, fire trucks and hydraulic platforms.
He disclosed that firefighters were undergoing local and international training in basic and advanced firefighting, rescue operations and breathing-apparatus procedures.
The Lagos Command is also collaborating with state and private fire services, the Nigerian Ports Authority fire department and the Federal Airports Authority of Nigeria, among other strategic partners, to strengthen emergency response.
Public education, he said, remained a critical part of the Service’s prevention strategy, with initiatives including social-media campaigns, seminars, workshops, fire drills, annual risk assessments, media engagements and Fire Safety Week activities.
The FFS stressed that Nigeria’s transition to cleaner mobility must go hand in hand with specialised emergency-response training, appropriate safety standards and sustained public awareness.
As EV and CNG adoption expands, the Service said firefighters, motorists and the general public must understand the distinct hazards posed by the technologies, noting that conventional firefighting approaches may not always be adequate for emergencies involving alternative-energy vehicles.
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