Oshiomole Raises Eyebrows on missing #2010 trillion in NNPC Account

 

Barnabas Olabisi Akure 

Senator Adams Oshiomhole, representing Edo North Senatorial District at the upper legislative chamber has expressed concern over the purported missing of hundreds of trillions of naira within the Nigerian National Petroleum Company Limited (NNPCL), stating that democracy without accountability is a hollow exercise.

Oshiomhole, who was the guest speaker during the June 12 lecture held in Akure, the Ondo State capital, described as “mind-boggling” financial transactions that vanished without trace between 2017 and 2022.

With the lecture, themed ‘June 12  Beyond: Reflecting on The Progress of Democracy and Security Concerns,’ the former national chairman of the All Progressives Congress (APC) revealed that his committee had uncovered ₦210 trillion in unaccounted funds requiring explanation from the Nigerian National Petroleum Company Limited (NNPC).

Oshiomhole, who chairs the Senate Committee on Public Accounts, revealed that his committee had invited the concerned NNPC officials on several occasions to explain issues raised in audited financial reports but repeatedly failed to appear despite a series of invitations.

He said, “The reports indicated that NNPC claimed over N107 trillion was deposited in various banks that subsequently became insolvent, resulting in the disappearance of those funds.” Our committee’s simple request was for the names of the banks involved and details of the amounts held in each institution to be mentioned and these has not gotten an answer..

“‎This is not an unreasonable question. If such enormous sums disappeared, Nigerians deserve to know where the money was kept or went to, who owned the financial institutions involved, and what happened to the funds.

“‎The committee also examined another claim involving approximately N103 trillion allegedly tied to transactions with marketers, tanker operators, and oil spillage and related issues , Again, we requested details: the names of those involved, the value of the transactions, and the evidence supporting the claims. Can not be provided”

While describing the beauty of democracy as the ability to ask difficult questions without fear, the former labor leader maintained that the essence of democracy lies in institutions, particularly parliament, noting that it is the presence of a legislature that makes the difference between democratic governance and military rule.

According to the former Edo State Governor, he is committed to President Bola Tinubu’s administration and to Nigeria’s progress, emphasizing that the transactions under investigation occurred before Tinubu assumed office