The former Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), Umar Ajiya, has vigorously defended the integrity of the national oil company and its employees, asserting that neither the organization nor its workers are engaged in theft. Ajiya made these remarks on Thursday during a session of the Senate Public Accounts Committee, which is investigating allegations of misappropriation of funds within the state-owned oil enterprise.
His comments came as a direct response to criticism from Senator Adams Oshiomhole, who represents Edo North Senatorial District. Oshiomhole had earlier described the NNPCL as a “house of thieves” amid claims of financial irregularities. Addressing the committee, Ajiya categorically rejected allegations that ₦5.8 billion was spent on the incorporation and registration of the company, clarifying that the actual expenditure was ₦2.9 billion.
“We are not thieves. ₦2.9 billion was used to register NNPC, not ₦5.8 billion,” Ajiya stated emphatically. He noted that he had appeared before the committee multiple times over the past five to six years to defend the company’s financial records. He further insisted that no funds were missing during his tenure, emphasizing that the company has consistently maintained transparency in its financial reporting.
“I need to assure Mr Chairman and distinguished Senators present here today, and indeed all Nigerians, that there is no money missing. If money was actually missing in NNPC during our period, we would not have had the courage to publish audited accounts over the past 44 years,” Ajiya said. According to him, the NNPCL has ensured that its audited financial statements are made public, submitted to the Office of the Auditor-General of the Federation, and published on its website to promote transparency and allow public scrutiny.
The former CFO stressed that the company’s commitment to accountability has been unwavering, and he urged the committee to verify the facts rather than rely on unsubstantiated claims. The Senate Public Accounts Committee continues its investigation into the alleged financial irregularities at the NNPCL.
