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Nigerian Senate Gives NNPCL an Ultimatum to Account for N201tn in Missing Funds

  • The Nigeria Extractive Industries Transparency Initiative reported that the Tertiary Education Trust Fund received N1.024 trillion from education tax contributions between 2019 and 2023, according to Executive Secretary Ogbonnaya Orji's statement during a MoU signing.
  • In 2022, TETFund received N322.99 billion, and in 2023, it increased to N571.01 billion, the highest annual inflow on record.
  • Peter Obi condemned the Nigerian National Petroleum Company over allegations of N210 trillion in financial irregularities, claiming Nigeria is a 'crime scene' under siege by corruption.
  • The Senate audit found that the NNPC failed to account for N107 trillion in receivables and reported N103 trillion in vague accrued expenses, sparking calls for urgent reform according to Obi's statements.
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Daylight Reporters broke the news in on Wednesday, June 18, 2025.
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