Oshiomhole Demands Answers Over Alleged N210trn NNPC Transactions

Former Edo State governor and 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.

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

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

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

According to him, the queries were raised by auditors and not politicians, stressing that the National Assembly’s responsibility is to demand clarity wherever discrepancies are identified.

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

He insisted that such issues could not be ignored, warning 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,” he said.

“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.”

Oshiomhole stressed that effective legislative oversight, especially through budget scrutiny and public accounts examination, is critical to preventing misuse of public resources and ensuring accountability in governance.

He also expressed support for ongoing economic reforms, including the removal of fuel subsidy and the unification of foreign exchange rates, describing them as difficult but necessary measures for national stability.

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

He said, “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.”

Aiyedatiwa also acknowledged that insecurity remains a major challenge to democratic consolidation, while commending ongoing federal efforts to strengthen the nation’s security architecture.