The former Group General Manager of the National Petroleum Investment Management Services (NAPIMS), Bala Wunti, has strongly dismissed allegations that ₦210 trillion is missing from the accounts of the Nigerian National Petroleum Company Limited (NNPC Ltd.).
​Speaking during a formal legislative hearing at the National Assembly complex on Thursday, Mr. Wunti informed the Senate Committee that a rigorous, detailed review of the state-owned oil firm’s 2023 audited financial statements revealed no evidence of missing or unaccounted-for funds.
The hearing was convened following public speculation and lawmakers’ queries regarding a rumored ₦210 trillion gap in NNPC Ltd.’s financial reporting. Mr. Wunti explained that the 2023 financial statements underwent standard, international auditing procedures.
The final, verified balances fully account for the company’s revenue, joint venture cash calls, and operational expenditures. Presenting data before the Senate panel, the former NAPIMS chief emphasized that the digital tracking systems and governance frameworks currently in place make it virtually impossible for such astronomical sums to disappear without detection.
​”A comprehensive breakdown of the 2023 audited financial statements shows that every naira is accounted for. There is absolutely no evidence supporting the claim that ₦210 trillion is missing from NNPC Ltd.,
” Wunti stated during his testimony.​The Senate Committee acknowledged the clarification provided by the veteran oil executive, noting that the presentation offered much-needed clarity on the company’s fiscal health.
Lawmakers indicated that they would continue their routine oversight functions to maintain absolute transparency in Nigeria’s oil and gas sector, but added that the specific allegations of the ₦210 trillion deficit appear to be unfounded based on the audited evidence presented.
