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Senate rejects NNPCL’s defence, orders refund of ₦210trn unremitted funds
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)
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Police Nab 49-Year-Old With Pump-Action Rifle, 50 Ammunition Rounds In Anambra
Police Nab 49-Year-Old With Pump-Action Rifle, 50 Ammunition Rounds In Anambra
The Anambra State Police Command has arrested a 49-year-old man, Chima Ogumba, after recovering a pump-action gun and 50 live cartridges from his possession during an intelligence-led operation along Nkpor Road in the Idemili North Local Government Area. The arrest, which took place on Monday, August 17, 2026, was carried out by operatives of the Rapid Response Squad, Awkuzu, following credible intelligence about suspicious movements in the area, and upon searching the suspect, the firearm and ammunition were discovered.
According to the command’s spokesperson, SP Tochukwu Ikenga, the suspect could not provide a satisfactory explanation for why he was carrying the weapons, and he has since been taken into custody as investigations continue. The Commissioner of Police in the state, CP Nnanna Oji Ama, has ordered a comprehensive investigation to uncover the source of the recovered items and to determine whether Ogumba has any links to armed robbery, cultism, or other criminal activities within the state and beyond.
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SP Ikenga further stated that the Command remains committed to proactive policing and sustained tactical operations aimed at identifying and dismantling criminal networks across Anambra State. This latest arrest is part of the police command’s ongoing efforts to curb the proliferation of illegal firearms and curb gun violence in the South-East region, and residents have been urged to remain vigilant and report suspicious activities to law enforcement agencies.
Police Nab 49-Year-Old With Pump-Action Rifle, 50 Ammunition Rounds In Anambra
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Zamfara: Troops rescue seven women, children from terrorists
Zamfara: Troops rescue seven women, children from terrorists
Troops of the Joint Task Force North West, Operation FANSAN YAMMA, have foiled separate terrorist abduction attempts in Zamfara State, rescuing civilians and neutralising an improvised explosive device (IED) planted along a major road.
The operations, conducted on August 17, 2026, occurred at different locations in the state as security forces intensified efforts to protect civilians, secure major roads and disrupt the activities of terrorist groups in Zamfara.
The Media Information Officer of the Joint Task Force North West, Operation FANSAN YAMMA, Lieutenant Colonel Aliyu Danja, disclosed the development in a statement issued on August 17.
Danja said troops of Sector 2 responded to an abduction incident along the Gurusu–Anka Road after receiving information about the attack.
According to him, the troops pursued the terrorists, forcing them to abandon their captives and flee into the surrounding area.
The military officer said the operation resulted in the rescue of seven victims comprising four women and three children.
He added that all seven victims were rescued unharmed.
The rescue came amid continuing security concerns along major roads in Zamfara, where armed groups have repeatedly targeted motorists and passengers.
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In a separate operation around Magazu Village in Tsafe Local Government Area, troops responded to information that terrorists were attempting to abduct motorists.
The troops moved swiftly to the area and engaged the attackers, forcing them to abandon their victims and escape into nearby bushes.
Danja said some of the rescued victims sustained gunshot wounds during the incident and were immediately evacuated to a medical facility for treatment.
The Magazu axis has previously witnessed similar incidents, making the area a major security concern for residents and road users.
Earlier reports indicated that troops of Operation FANSAN YAMMA had rescued 33 passengers abducted by terrorists around the Magazu area after engaging the attackers and forcing them to abandon their victims.
Meanwhile, troops also responded to the discovery of a terrorist-planted IED along the Gurusu–Gwashi Road in Bukkuyum Local Government Area.
The military said the area was immediately secured while an Explosive Ordnance Disposal team was deployed to handle the explosive device.
The team successfully neutralised the IED, preventing potential casualties among soldiers, motorists and other road users.
The discovery highlights the continuing security threat posed by explosive devices along some roads in Zamfara State, particularly routes used by civilians and security personnel.
The latest operations formed part of ongoing efforts by Operation FANSAN YAMMA to maintain security across its Joint Operations Area and prevent terrorists from freely operating in vulnerable communities and along major transportation routes.
Danja said the successful interventions demonstrated the vigilance and responsiveness of troops in protecting civilians, securing communities and keeping major routes safe from terrorist activities.
He said the Theatre Command would continue to maintain pressure on terrorist elements across the Joint Operations Area and deny them the freedom to threaten innocent citizens.
The command also urged members of the public to remain vigilant and provide security agencies with timely and credible information about suspicious movements and activities.
The latest operations underscore the importance of intelligence-led military action in tackling kidnapping and terrorism in Zamfara, particularly along routes that have repeatedly come under attack.
Zamfara: Troops rescue seven women, children from terrorists
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