₦200 Trillion NNPCL Probe ABUJA, Nigeria – March 25, 2026 (Sojworldnews) – The Socio-Economic Rights and Accountability Project (SERAP) has urged Senate President Godswill Akpabio to ensure full transparency in the ongoing Senate probe into the alleged ₦200 trillion discrepancies in the Nigerian National Petroleum Company Limited (NNPCL) accounts.

SERAP called on the Senate leadership to immediately publish the names of officials linked to the audit queries and make the investigation process open to Nigerians.

The organisation said transparency would strengthen public trust and prevent any form of cover-up in one of Nigeria’s biggest financial probes.

Senate Probe Into ₦200 Trillion NNPCL Accounts

The Senate Committee on Public Accounts has been investigating financial discrepancies in NNPCL’s audited financial statements covering 2017 to 2023.

The probe followed audit reports from the Office of the Auditor-General of the Federation, which flagged trillions of naira in receivables, liabilities, and operational expenses that were not properly documented.

During a recent hearing in Abuja in March 2026, the committee expressed dissatisfaction with the explanations provided by NNPCL management.

The committee chairman, Senator Aliyu Wadada, said the figures in the audited accounts raised serious concerns.

“The responses provided by NNPCL are not satisfactory. The audited financial statements contain figures that require detailed explanations and supporting documents,” Wadada stated.

The committee noted that over ₦103 trillion recorded as accrued expenses lacked proper documentation and required further clarification.

Lawmakers also raised concerns about receivables exceeding ₦100 trillion and other financial inconsistencies in the company’s records.

However, the Senate clarified that the funds were not declared stolen but remained unaccounted for and under investigation.

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SERAP Demands Full Disclosure

In its statement released on Tuesday, March 25, 2026, SERAP urged Senate President Godswill Akpabio to direct the committee to disclose all officials involved in the audit queries.

The organisation stressed that Nigerians have the right to know the individuals connected to the financial discrepancies.

“Publishing the names and details of officials implicated in the ₦200 trillion NNPCL probe will promote transparency and accountability in the oil sector,” SERAP said.

SERAP also asked the Senate to release key documents related to the investigation.

These include audit reports, financial records, correspondences, and timelines for the probe.

According to the group, public access to the documents would allow Nigerians to independently assess the investigation.

Threat of Legal Action

SERAP warned that it may take legal action if the Senate fails to ensure transparency in the probe.

The organisation said secrecy in the investigation could weaken public confidence in the National Assembly.

It also emphasized that accountability in NNPCL is crucial because the oil sector remains Nigeria’s main revenue source.

SERAP maintained that open investigation would discourage corruption and strengthen governance in the petroleum industry.

Senate Intensifies Investigation

Meanwhile, the Senate Public Accounts Committee has intensified its investigation into the alleged discrepancies.

The committee has summoned NNPCL officials and demanded detailed explanations of the audited financial records.

Reports show that the Senate is reviewing financial documents and may invite former and current NNPCL executives for questioning.

The committee has also indicated that it may recommend a forensic audit if the explanations remain unsatisfactory.

The investigation is expected to continue in the coming weeks as lawmakers seek clarity on the financial records.

What This Means for Nigerians

The ongoing probe could reshape accountability in Nigeria’s oil sector.

If handled transparently, the investigation may improve public trust in government institutions.

It could also strengthen legislative oversight and ensure proper management of public funds.

However, analysts warn that failure to disclose findings may deepen concerns about corruption and financial mismanagement.

For now, Nigerians are watching closely as pressure continues to mount on the Senate leadership to ensure transparency in the ₦200 trillion NNPCL probe.

Sojworldnews will continue to monitor developments and provide updates on the investigation.