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…Calls for Judicial Probe into Alleged N210 Trillion Oil Sector Fraud

Conference of Nigeria Political Parties (CNPP) has issued a stinging condemnation of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, for his repeated failure to appear before the Senate Committee on Public Accounts.

In a strongly-worded statement on Friday, the CNPP described Ojulari’s defiance as “a flagrant and unacceptable affront to the Nigerian legislature and, by extension, the Nigerian people.”

The scathing statement, signed by Comrade James Ezema, Deputy National Publicity Secretary of the CNPP, accused Mr. Ojulari of showing open contempt for constitutional oversight, and blamed the National Assembly for creating the environment that enables such disregard.

“This act of defiance, for the second consecutive time, is a flagrant and unacceptable affront to the Nigerian legislature and, by extension, the Nigerian people,” the CNPP stated. “We view this brazen disregard for a constitutional summons not as an isolated incident, but as a predictable symptom of the catastrophic failure of our basic national institutions for promoting accountability, compliance, and regulation.”

He described the response of the Senate Committee on Public Accounts as laughable and toothless, accusing it of reaping the consequences of years of compromised oversight and public theatrics.

“It is, therefore, laughable to see the Senate Committee on Public Accounts wailing and issuing empty threats after being snubbed again by the NNPCL GCEO,” the statement reads. “The committee is merely reaping what the Senate has sown over the years. For too long, Nigerians have watched probes and public hearings turn into theatrical performances with predetermined outcomes.”

The CNPP dismissed the Senate’s recent efforts as “a charade,” asserting that no meaningful action is expected to follow the public outcry. “We are not deceived by this latest charade, as past experience shows that after all the noise, absolutely nothing will come out of it. The 10th National Assembly, like many before it, appears more interested in performance than in genuine oversight.”

Amid growing concerns about transparency and accountability in Nigeria’s oil sector, the CNPP renewed its call for a full-scale judicial investigation into the operations and finances of the NNPCL from 2017 to 2024.

“It has become painfully obvious that the new management of the NNPCL is poised to break the records of the sacked Mele Kyari-led management team in impunity, lack of accountability, and total disregard for institutions with oversight powers over the Federal Government-owned oil company,” CNPP declared.

The statement alleged that Ojulari’s refusal to honour Senate invitations is a deliberate tactic to shield individuals implicated in the suspected looting of N210 trillion, which CNPP claims remains unaccounted for.

“The current delay tactics employed by the NNPCL are a clear and deliberate strategy to protect those who may have been involved in the suspected looting of the colossal N210 trillion… This development is a full vindication of the CNPP’s consistent advocacy over the years.”

Highlighting a pattern of mismanagement and fraud, the CNPP accused the NNPCL of multiple offences including:

Zero Remittances: “The consistent failure to remit accrued revenues to the Federation Account, starving states and local governments of critical funds.”

Refinery Scams: “The billions of dollars lost to the endless and fraudulent turnaround maintenance of Nigeria’s four government-owned refineries, which remain moribund.”

Ghost Workers and Overheads: “The scandalous recruitment of workers and expenditure of huge overhead costs in these unproductive refineries.”

According to the CNPP, the Nigerian Senate has proven incapable of addressing these issues, thereby necessitating an urgent judicial solution. “The Senate has proven itself incapable of holding the NNPCL to account. The only path to uncovering the monumental fraud that has defined our oil and gas sector is through an independent, uncompromised, and transparent judicial probe.”

In conclusion, the CNPP reiterated its call—supported by over 75 civil society organisations—for President Bola Ahmed Tinubu to immediately constitute a panel of inquiry with judicial powers to investigate the NNPCL.

“Anything less will confirm that the entire system is designed to protect powerful interests at the expense of national prosperity and accountability,” CNPP warned.

The Conference of Nigeria Political Parties remains a major umbrella coalition of registered political parties in Nigeria and has consistently maintained its stance on transparency, good governance, and institutional reforms.

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