NNPC replies Oshiomhole, says no money Is missing

The former Chief Financial Officer (CFO) of the Nigerian National Petroleum Company Limited (NNPCL), Umar Ajiya, has defended the company against allegations of corruption.

Ajiya spoke during a Senate Public Accounts Committee hearing investigating claims of financial mismanagement in the company.

His comments came after Senator Adams Oshiomhole, who represents Edo North Senatorial District, described NNPCL as a “house of thieves” while raising concerns over some of the company’s expenditures.

Responding to the allegations, Ajiya said NNPCL and its workers are not thieves. He clarified that N2.9 billion was spent on the incorporation and rebranding of the company, contrary to claims that N5.8 billion was used for the registration process.

According to him, the figures being circulated have been misunderstood, stressing that all financial records were properly documented and accounted for.

“We are not thieves. N2.9 billion was used for the registration and rebranding exercise, not N5.8 billion as alleged,” Ajiya said.

He also assured the Senate committee and Nigerians that no funds were missing from the company during his tenure.

Ajiya noted that NNPCL has consistently published its audited financial statements over the years, a move aimed at promoting transparency and rebuilding public trust in the organisation.

“If money was actually missing, we would not have had the confidence to publish our audited accounts for the public to see. We made it a responsibility to submit our accounts to the Auditor-General and also publish them on our website so Nigerians can examine and scrutinise them,” he stated.

The former CFO added that the company’s efforts to make its financial records public were part of broader reforms to improve accountability and address concerns about transparency in the nation’s oil sector.

The Senate committee is continuing its investigation into the financial activities of NNPCL as lawmakers seek further explanations on several expenditure items raised during the hearing.