Tense Senate Hearing Unfolds as Former NNPC Executive Rejects Claims of Missing Billions
A dramatic exchange unfolded at the Senate Public Accounts Committee as former Nigerian National Petroleum Company (NNPC) Chief Financial Officer, Umar Ajiya, strongly rejected allegations that the national oil company misappropriated public funds.
The controversy erupted after Senator Adams Oshiomhole reportedly described the NNPCL as a “house of thieves” while questions were raised about expenditures linked to the company’s incorporation and rebranding process.
However, Ajiya pushed back forcefully, insisting that neither the company nor its employees were involved in any wrongdoing.
“We are not thieves,” he declared during the hearing, a statement that immediately became the focal point of the ongoing investigation.
At the center of the dispute are claims surrounding billions of naira allegedly spent during the transition and registration process of the company. Addressing the allegations, Ajiya clarified that N2.9 billion was used for the registration and related processes, dismissing reports suggesting that N5.8 billion had been spent solely on incorporation.
According to him, there has been significant misunderstanding regarding the figures being discussed, and the company’s financial records provide a clearer picture of the expenditures.
Ajiya further assured lawmakers and Nigerians that no funds were missing from the company during his tenure. He argued that NNPC’s commitment to transparency was demonstrated through its long-standing practice of publishing audited financial statements and making them available for public scrutiny.
In a passionate defense of the organization, he noted that the company had consistently submitted its accounts to the Auditor-General of the Federation while also publishing reports online for Nigerians to review and criticize if necessary.
The remarks come amid growing public interest in the management of Nigeria’s oil revenues and the accountability of state-owned enterprises. Questions surrounding transparency in the petroleum sector have remained a recurring issue for years, making the Senate’s investigation one of the most closely watched inquiries in recent months.
While the Senate committee continues its review of the allegations, the clash between Oshiomhole’s accusations and NNPC’s defense has intensified debate over governance, accountability, and public trust in Nigeria’s most strategic industry.
For many observers, the key question remains unanswered: will the ongoing investigation clear the air, or uncover deeper issues within the nation’s oil sector?
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