The House of Representatives Public Accounts Committee (PAC) is set to begin a two-day investigative hearing today into alleged financial breaches totaling over N802.19 billion.
​The sessions will take place on Monday, October 5, and Tuesday, October 6, 2026, starting at 11:00 AM daily in House Hearing Room 428, located in the House of Representatives New Building at the National Assembly Complex in Abuja.
​The probe targets top accounting officers and subject-matter experts from key Ministries, Departments, and Agencies (MDAs), notably the Nigerian National Petroleum Company Limited (NNPCL) and the Independent National Electoral Commission (INEC).
​According to the committee, the investigation stems from queries raised in the report of the Auditor-General for the Federation, which spans audit findings from 2021 through 2023.
​The audited disclosures highlight financial infractions exceeding N514 billion attributed to NNPCL. Specific queries against the oil firm include; N343.64 billion in alleged irregular deductions from domestic crude oil sales.
N83.66 billion allegedly warehoused from miscellaneous revenues into a sinking fund account without authorisation. N82.95 billion in unauthorised deductions from Federation revenue and N3.75 billion recorded as shortfalls from petroleum product sales.
​The remaining N288.19 billion in audit breaches cuts across INEC and several other federal entities scheduled to appear before the panel, including the Code of Conduct Tribunal (CCT), the Federal Capital Territory Judicial Service Commission, the Federal Colleges of Education in Okene and Gombe, and the University Teaching Hospital, Ilorin.
Additionally, institutions like the National Mathematical Centre and the National Biotechnology Research and Development Agency are slated for questioning on Tuesday.
​Speaking ahead of the session, PAC Chairman Hon. Bamidele Salam emphasized the constitutional mandate backing the committee’s actions under Sections 85, 88, and 89 of the 1999 Constitution (as amended).
​”Tuesday is special because we hope to have in the House the accounting officers and subject matter experts from the Nigerian National Petroleum Company Limited and the Independent National Electoral Commission,” Salam noted, stressing that the committee expects full compliance and comprehensive submission of supporting documents.
​Efforts to reach the House PAC leadership for further comment were unsuccessful as phone calls and text messages to Hon. Bamidele Salam went unanswered.
Meanwhile, official spokespersons for NNPCL, Olufemi Soneye, and INEC, Rotimi Oyekanmi, have not issued formal public statements prior to the hearing, though officials from both organizations are expected to present their defense directly to lawmakers during the scheduled proceedings.
