The Senate has rejected explanations provided by the Nigerian National Petroleum Company Limited (NNPCL) regarding the ₦210 trillion outstanding against the oil firm.
The Senate Committee on Public Accounts chaired by Aliyu Wadada took the decision on Tuesday after the Group Chief Executive Officer (GCEO) , Bayo Ojulari, failed to turn up at its resumed sitting at the National Assembly.
Senator Wadada frowned at the absence of Ojulari, whom the committee said gave no excuses for staying away, consequently rejecting the explanations.
The session was called to give the NNPCL the opportunity to make clarifications on the answers the company provided to the 19 questions the panel asked the firm about the funds.
The Chairman of the committee, while speaking on the panel’s findings, said the responses were not only unsatisfactory, but also contradictory.
It came to the conclusion that the money, which had not been accounted for, must be refunded to the Federation Account by the company.
News edited by Favour Owonibi