Unaccounted ₦210 Trillion in NNPCL Records Could Lead to Jail Term, Senator Warns
Unaccounted ₦210 Trillion in NNPCL Records Could Lead to Jail Term, Senator Warns
By Akin Alade
Chairman of the Senate Committee on Public Accounts, Senator Aliyu Wadada, has warned that individuals found culpable in the alleged ₦210 trillion financial discrepancies in the records of the Nigerian National Petroleum Company Limited (NNPCL) may face imprisonment if investigations establish wrongdoing.
The senator made the remark while speaking on the ongoing probe into the company’s audited financial statements covering the period between 2017 and 2023.
Wadada explained that the National Assembly had not accused the oil company of stealing the funds but insisted that the huge amount reflected in the financial statements must be properly explained and accounted for.
According to him, the role of the legislature is to ensure accountability in the management of public resources, stressing that government agencies and corporations must be transparent in their financial dealings.
He noted that the Senate Committee on Public Accounts raised several queries after reviewing financial records that indicated significant figures listed as accrued expenses and receivables running into trillions of naira.
The lawmaker stressed that if investigations reveal deliberate mismanagement, manipulation of financial records, or other irregularities, those responsible could face serious legal consequences, including prosecution and possible jail terms.
Wadada further emphasized that the probe is part of efforts by the National Assembly to strengthen fiscal discipline, transparency, and accountability in Nigeria’s public finance system.
He added that public institutions must operate within the framework of financial regulations and ensure that all expenditures and revenues are properly documented and justified.
The Senate committee continues to review documents and responses submitted by NNPCL officials as part of the ongoing investigation into the financial discrepancies.
