NNPC CFO denies theft allegations, clarifies N2.9B registration cost amid Senate probe

Former NNPC Chief Financial Officer Umar Ajiya told the Senate Public Accounts Committee earlier today that NNPC and its workers are "not thieves," directly responding to Edo North Senator Adams Oshiomhole's characterization of the company as a "house of thieves." Ajiya specified that N2.9 billion was used for NNPC's incorporation and rebranding, explicitly rejecting Oshiomhole's claim that N5.8 billion was spent on registration.

He emphasized that NNPC's audited accounts have been publicly available for 44 years, stating: "If money was actually missing in NNPC during our period, we would not have had the courage to publish the audited accounts." Ajiya noted the accounts were shared with the Auditor-General of the Federation and published online for public scrutiny to address "the opaqueness and lack of trust" historically associated with NNPC.

The clarification comes amid ongoing Senate investigations into alleged misappropriation of funds at NNPC. Ajiya, who served as CFO for five or six years before his recent role, presented this defense during the committee session investigating the N2.9 billion versus N5.8 billion discrepancy in registration costs.

For Nigerians monitoring oil sector accountability, does this transparency claim sufficiently address concerns about NNPC's financial management, or should deeper institutional reforms be pursued to rebuild public trust in Africa's largest oil producer?

SOURCE: https://dailypost.ng/2026/06/11/we-are-not-thieves-nnpc-replies-oshiomole-gives-clarifications/