Auditor Must Disclose NNPCL Financial Records – Sen. Babangida
By Pan Afric Reporters
The Senate Public Accounts Committee (SPAC) has maintained that external auditors engaged by the Nigerian National Petroleum Company Limited (NNPCL) are under obligation to provide complete and accurate financial information to the committee, insisting that no confidentiality agreement can override the National Assembly’s constitutional oversight powers.
Speaking during the committee’s proceedings, on 15th July, 2026, Sen. Hussaini Babangida argued that the Senate Committee on Public Account derives its authority from the Senate Standing Rules, particularly Rule 5, stressing that the committee has the legal mandate to summon any individual, request documents, and obtain records necessary to discharge its oversight responsibilities.
The lawmaker challenged the auditor’s reluctance to provide details relating to figures contained in the audited accounts, noting that Nigerians were closely monitoring the investigation and deserved transparent explanations.
He stated that the auditor owed both the committee and the Nigerian public a duty to present accurate and timely information, adding that the ongoing scrutiny was aimed at clarifying issues surrounding the financial records rather than protecting institutional interests.
According to him, there is no non-disclosure or confidentiality agreement between an auditor and a client that can supersede the investigative powers vested in the Senate.
Citing the Senate Standing Rules governing the Public Accounts Committee, the senator Babangida explained that the committee is empowered to examine accounts showing the appropriation of public funds, consider reports of the Auditor-General, summon persons, request papers and records, and report its findings to the Senate.
He further noted that the committee also has authority to scrutinize the accounts and reports of statutory corporations, boards, offices, and other public entities once such reports have been laid before the Senate.
Babangida argued that the company represented by the external auditor falls squarely within the committee’s jurisdiction and therefore must make all relevant information available in the interest of transparency and accountability.
He further urged the committee not to relent in its pursuit of the required financial disclosures, emphasizing that Nigerians expected the investigation to uncover the facts behind the figures presented in the audited accounts.
“We cannot give up on this point,” the senator declared, insisting that full disclosure was essential to enable the committee discharge its constitutional oversight responsibilities and reassure Nigerians of transparency in the management of public resources.
