Following a one-week ultimatum issued by the Senate to the Nigerian National Petroleum Company Limited (NNPCL) to reconcile discrepancies in its financial records totaling over ₦210 trillion from 2017 to 2023, the company is planning a lavish retreat abroad for its top management team.
However, investigation revealed that the company’s board and leadership have finalised plans for a retreat in Kigali, Rwanda on Friday.
Surprisingly, the retreat was coming amid a deepening financial scandal, raising fresh concerns about accountability and insensitivity to public outrage.
Recall that the Senate Committee on Public Accounts during the probe of NNPCL earlier in the week expressed concerns over numerous inconsistencies in the documents presented by the company, including conflicting financial figures.
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During a session in Abuja on Wednesday, the committee chaired by Senator Aliyu Wadada met with a delegation led by NNPCL’s Chief Financial Officer, Mr. Dapo Segun.
A key area of concern was how National Petroleum Investment Management Services (NAPIMS), a subsidiary of NNPCL, reportedly declared a profit of ₦9 trillion between 2017 and 2021, while the NNPCL itself recorded a loss of ₦16 billion during the same period.
The committee posed 11 critical questions, demanding clarification and transparency.
Instead of addressing these serious issues, NNPCL appears to be focusing on other priorities, especially with the forthcoming retreat scheduled for Kigali on Friday.
According to a reliable source who preferred anonymity, the retreat would take place at Kigali Marriott, where NNPC allegedly booked out all the rooms.
The source stated: “An advance party is currently in Kigali comprising of the legal team and some protocol officers.
“The trip, led by board chairman Musa Kida, is being seen as an extravagant diversion at a time when the company is under intense scrutiny for years of alleged mismanagement and poor performance.
“Rather than responding to the Senate’s queries, the NNPCL board is scheduled to depart for Kigali this Friday on five private jets allegedly arranged by a son-in-law of former Vice President.
“This board seems completely disconnected from the economic hardships Nigerians are facing. Instead of focusing on reforming the NNPCL, they are indulging in luxury. It’s a disappointing situation. What is really happening to our country?” the source added.