NEITI Queries: Senate issues 48-hour ultimatum to Seplat, three oil companies

The Senate has ordered four oil and gas companies to appear before its Public Accounts Committee within 48 hours or face possible legislative sanctions.Again, Senate summons NNPCL, CBN, NDDC, others over audit queries

The companies are Seplat Energy, Network E&P Nigeria, All Grace Energy and Aradel Energy.

The committee summoned the firms over audit queries raised in reports by the Nigeria Extractive Industries Transparency Initiative (NEITI) for 2021, 2022 and 2023.

The ultimatum was issued after the companies failed to attend an investigative hearing convened by the committee on Tuesday.

The Senate committee warned that failure to comply with the directive could lead to the companies facing the full weight of its legislative powers.

The committee said the firms must honour the fresh summons within the stipulated period, warning that failure to do so would trigger further legislative action.

The hearing is part of the Senate’s ongoing efforts to examine issues raised in NEITI’s reports and seek explanations from companies operating in Nigeria’s extractive sector.

The committee’s decision signals a tougher stance on compliance as lawmakers intensify scrutiny of the country’s oil and gas industry and the management of revenues generated from the sector.

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