The Nigerian Senate has asked the Nigerian National Petroleum Company Limited (NNPCL) to explain what happened to a huge amount of missing money—₦210 trillion. They gave the company just one week to provide full details. This order came during a meeting held by the Senate Committee on Public Accounts.

The meeting took place on Wednesday. NNPCL’s Chief Financial Officer, Dapo Segun, and other top executives were present to answer questions about the company’s finances from 2017 to 2023.

Senator Aliyu Wadada, who chairs the committee, said the financial figures reported by NNPCL didn’t make sense. He called them “unacceptable” and said the Senate would take strong action if the company did not provide a proper explanation.

According to Wadada, ₦210 trillion was linked to two major areas—unpaid bills and money the company expects to receive. He stressed that these are not small mistakes, but serious concerns about how honest and transparent the company has been with its money.

He also raised alarm over ₦103 trillion listed as unpaid expenses. Out of that, ₦600 billion was marked as “retention fees.” Other large amounts were labeled as legal and auditor fees, but none of them had documents or contracts to prove they were real.

Wadada questioned how a company could claim such a massive amount in fees without any proof. “There’s no record of legal work done, yet money is being claimed. It doesn’t make sense,” he said.