The Senate Committee on Public Accounts has uncovered alarming discrepancies amounting to over ₦210 trillion in the audited financial statements of the Nigerian National Petroleum Company Limited (NNPC), describing the findings as deeply troubling.
During a hearing on Wednesday, the committee, chaired by Senator Aliyu Wadada, questioned NNPC’s Chief Financial Officer, Dapo Segun, over unexplained legal and audit fees, as well as contradictory figures in receivables reported between 2017 and 2023.
“Trillions of naira are in question, and the new document presented today doesn’t match what’s already in their audited report. It’s completely contradictory,” Wadada said. He added that legal fees were recorded without evidence of services rendered, and audit fees lacked justification.
