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Senate rejects NNPCL’s defence, orders refund of ₦210trn unremitted funds

Published

2 months ago

November 12, 2025

Senate rejects NNPCL’s defence, orders refund of ₦210trn unremitted funds

The Senate has rejected the Nigerian National Petroleum Company Limited (NNPCL)’s explanations regarding the alleged ₦210 trillion unremitted to the Federation Account, insisting that the company must refund the amount.

The resolution followed months of investigation by the Senate Committee on Public Accounts, chaired by Senator Aliyu Wadada, after the NNPCL’s Group Chief Executive Officer, Bayo Ojulari, failed to appear before the committee during its resumed hearing at the National Assembly on Tuesday.

The session was scheduled to allow the NNPCL clarify issues arising from 19 questions earlier raised by the committee concerning the alleged missing funds.

According to the committee’s review of NNPCL’s audited financial statements from 2017 to 2023, the firm recorded ₦103 trillion in accrued expenses and ₦107 trillion in receivables, totalling ₦210 trillion — transactions the panel described as unexplained and contradictory.

Senator Wadada said the explanations provided by the company were “unsatisfactory” and failed to align with available evidence.

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“NNPCL claimed ₦103 trillion as accrued expenses and ₦107 trillion as receivables—amounting to ₦210 trillion. On question eight, NNPCL’s explanation on the ₦107 trillion receivables, equivalent to about $117 billion, contradicts the company’s own records. The committee is duty-bound to reject this,” he stated.

The lawmaker further queried how the NNPCL could have paid ₦103 trillion in cash calls to joint venture (JV) partners in 2023 alone when it reportedly generated only ₦24 trillion in crude oil revenue between 2017 and 2022.

“Cash call arrangements were abolished in 2016 under President Muhammadu Buhari. How can NNPCL claim to have paid ₦103 trillion in one year when it generated only ₦24 trillion in five years? Where did NNPCL get that money?” he asked.

Wadada insisted that the alleged ₦103 trillion must be returned to the national treasury, stressing that the figures presented by the NNPCL were “unjustifiable and unacceptable.”

He also advised the company’s management to acknowledge any challenges in reconciling the records rather than providing inconsistent explanations.

“If the present management of NNPCL is finding it difficult to provide acceptable answers, it is better they say so. The committee will not hesitate to subpoena former officials of NNPCL and NAPIMS,” Wadada warned.

The Senate committee said its investigation would continue until the company’s management appears to provide a satisfactory account of the missing funds.

Senate rejects NNPCL’s defence, orders refund of ₦210trn unremitted funds

(Source: Channels Television)

Related Topics:NNPCL Senate unremitted funds

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January 22, 2026

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Former Presidential Candidate of the African Action Congress, AAC, Omoyele Sowore

Court Accepts Sowore’s Tweet Calling President Tinubu ‘Criminal’ as Exhibit in Cybercrime Trial

A Federal High Court in Abuja has admitted a tweet by activist and journalist Omoyele Sowore, in which he called President Bola Ahmed Tinubu a “criminal,” as part of the evidence in his ongoing cyberstalking and defamation trial brought by the Department of State Services (DSS).

Justice Mohammed Umar ruled on Thursday, January 22, 2026, that screenshots of the controversial posts from Sowore’s verified X (formerly Twitter) and Facebook accounts, along with video clips submitted on a flash drive, would be formally marked as exhibits in the case. The court overruled defense objections, allowing the social media evidence to form a central part of the prosecution’s case.

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The trial relates to posts published in August 2025, following President Tinubu’s official visit to Brazil. The government alleges that Sowore’s online statements were false, inflammatory, and capable of undermining public peace, contrary to provisions under the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024. DSS witnesses told the court that Sowore’s posts attracted millions of views and were capable of escalating political tension and threatening national security.

Sowore, a former presidential candidate and founder of the African Action Congress (AAC), has pleaded not guilty, insisting that his posts are protected under freedom of expression and free speech rights. The court adjourned the matter to January 27, 2026, for the cross-examination of DSS witnesses and continuation of proceedings.

The case has sparked a nationwide debate over cyber defamation, limits of online political criticism, and freedom of expression in Nigeria, attracting significant attention from journalists, human rights groups, and political commentators.

Court Accepts Sowore’s Tweet Calling President Tinubu ‘Criminal’ as Exhibit in Cybercrime Trial

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Police Nab Woman Who Hired Armed Robbers to Steal Boyfriend’s ₦13m Gold

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Police Nab Woman Who Hired Armed Robbers to Steal Boyfriend’s ₦13m Gold

The Delta State Police Command has arrested a 24-year-old woman for allegedly hiring armed robbers to steal her boyfriend’s gold jewellery worth about ₦13 million, the police confirmed on Thursday, January 22, 2026.

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According to SP Bright Edafe, Delta police spokesperson, the suspect, identified as Jessica Anthony, approached individuals she believed were armed robbers to execute the plan. Her motive, she admitted, was to raise money for her sister’s medical bills.

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The boyfriend reportedly became aware of the plot and contacted the Delta police, who arranged for the “robbers” to be intercepted. During the operation, Jessica was arrested and the gold jewellery — including a hand chain and necklace — recovered.

A video released by the Delta State Police shows the recovered items and highlights the agency’s prompt action in foiling the robbery attempt. SP Edafe warned residents against engaging in criminal activities or hiring armed criminals, stressing that such acts carry severe legal consequences.

This incident forms part of ongoing Delta police operations targeting armed robbery, kidnapping, and other violent crimes, reinforcing the command’s commitment to public safety and law enforcement across the state.

Police Nab Woman Who Hired Armed Robbers to Steal Boyfriend’s ₦13m Gold

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Police Nab Woman Who Hired Armed Robbers to Steal Boyfriend’s ₦13m Gold

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Nigeria Political Battle: Akpabio Drags Natasha Akpoti to Supreme Court

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January 22, 2026

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Senator Natasha Uduaghan and Senate President Godswill Akpabio

Nigeria Political Battle: Akpabio Drags Natasha Akpoti to Supreme Court

Senate President Godswill Akpabio has filed a fresh case at the Supreme Court, escalating the ongoing legal dispute with Senator Natasha Akpoti‑Uduaghan over her suspension from the Nigerian Senate. The move comes after protracted proceedings in lower courts, with the apex court now set to deliver a final judgment on the matter.

According to court filings, Akpabio is seeking the Supreme Court’s approval to regularize and sustain his appeal against previous rulings from the Federal High Court and the Court of Appeal, asserting that the Senate acted within its powers under Section 60 of the 1999 Constitution to regulate its internal procedures. The case, recorded under SC/CV/1111/2025, also requests leave for Akpabio’s notice of appeal and brief of argument to be deemed properly filed and served.

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The dispute traces back to February 2025, when Akpoti‑Uduaghan raised concerns over alleged procedural irregularities and parliamentary privilege issues during a Senate plenary session. The Senate Committee on Ethics, Privileges and Public Petitions subsequently invoked disciplinary measures, resulting in a six-month suspension for the lawmaker.

Akpoti‑Uduaghan challenged the suspension at the Federal High Court in Abuja, arguing it violated her constitutional right to fair hearing and breached Senate Standing Orders. The Court of Appeal later struck out parts of the Senate’s defense on procedural grounds, prompting Akpabio to escalate the matter to the Supreme Court for definitive resolution.

Additionally, the dispute encompasses a related contempt proceeding, arising from a social media post by Akpoti‑Uduaghan during the litigation, which a Federal High Court deemed in violation of a restraining order, leading to a fine and public apology — a decision she is also appealing.

The Supreme Court filing effectively brings all parties before Nigeria’s apex court, with the case expected to set precedents on the limits of legislative authority, judicial review, and parliamentary discipline.