NNPC Must Account For N210trn Transactions, Oshiomhole Insists

Former Edo State governor, Senator Adams Oshiomhole, has called for full transparency and accountability over alleged trillions of naira in questionable transactions linked to the Nigerian National Petroleum Company Limited (NNPCL), insisting that Nigerians deserve clear explanations on the matter.

Oshiomole made the call on Friday in Akure, the Ondo State capital, during his lecture at the 33rd anniversary commemoration of the June 12, 1993 presidential election held at the International Centre for Culture and Events.

He said democracy derives its strength from institutions, particularly the legislature, which he described as central to ensuring accountability in governance.

The senator noted that ongoing Senate Public Accounts Committee investigations into audit reports had raised concerns about alleged financial transactions involving about N210 trillion within the NNPC between 2017 and 2022.

He explained that auditors, not politicians, raised the queries, stressing that the National Assembly’s responsibility was to demand clarity where discrepancies were flagged.

‎Oshiomhole further disclosed that lawmakers had repeatedly invited NNPC officials over claims that about N107 trillion was allegedly deposited in banks that later became insolvent, as well as another N103 trillion tied to transactions involving marketers and other operators.

He insisted that such issues must not be ignored, adding that transparency remained the only way to sustain public trust in governance.

“The essence of democracy lies in institutions, particularly parliament. Whether under dictatorship or traditional rule, it is the presence of a legislature that makes the difference.

‎”If such enormous sums disappeared, Nigerians deserve to know where the money was kept, who owned the institutions involved and what happened to the funds,” he said

Oshiomhole stressed that legislative oversight, especially through budget scrutiny and public accounts examination, remains critical in preventing abuse of public resources and ensuring fairness in governance.

The senator reaffirmed his support for ongoing economic reforms, including fuel subsidy removal and foreign exchange unification, describing them as difficult but necessary steps for national stability.

‎In his remark, Governor Lucky Aiyedatiwa said democracy must be strengthened through accountability, rule of law, and citizen participation.

‘’Democracy is not a destination but a continuous journey that thrives only when citizens and leaders alike embrace responsibility, accountability, and respect for the rule of law,” he said.

The governor acknowledged that insecurity remains a major threat to democratic consolidation and commended ongoing efforts by the federal government to strengthen national security architecture.