The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) 21 days to provide detailed explanations on financial discrepancies totaling N210 trillion, even as its Group Chief Executive Officer (GCEO), Bayo Ojulari, pleaded for more time to respond adequately.

Appearing before the committee on Tuesday in response to an earlier summons, Ojulari stated that he required more time to properly study and understand the issues flagged in the company’s audited financial statements covering the period from 2017 to 2023.

“I have been in office for barely 100 days and I need time to fully understand the issues. Given the explanation I’ve heard today, my perspective has changed,” the NNPCL chief said.

“I need to carry out further internal review and reconciliation to provide the answers the committee requires’. He pledged to assemble a team to work on the queries.”

The financial concerns revolve around N103 trillion in liabilities and N107 trillion in assets, figures that lawmakers described as troubling and largely unsubstantiated.

The Chairman of the Committee, Senator Aliyu Wadada, said that the figures raised red flags.

“The amount is mind-boggling. The liability figure cannot be substantiated and is therefore not acceptable to this committee. Even the receivables making up the asset component cannot be verified,” the senator said.

According to Wadada, the N210 trillion in question was extracted directly from NNPCL’s audited financial statements and the company is expected to provide concrete explanations for both its liabilities and assets.

Some lawmakers also expressed dissatisfaction with the company’s posture, accusing NNPCL of showing disregard for the committee. They argued that the NNPCL boss’s plea for more time was not sufficient and questioned why the CEO appeared to be unfamiliar with the details despite sending representatives to earlier hearings.

Following an appeal from the CEO, the committee directed the NNPCL to return with a comprehensive and reconciled response within 21 days.

By Eric Elezuo

The golden ambience of the Harbour Point Event Centre in Lagos was more than a beehive of activities as the best of the nation’s elites cutting across the traditional institutions, politics, entertainment, entrepreneurship, fintech and more, gathered to honour and celebrate the memory of one of the most cosmopolitan monarchs that ever sat on any traditional stool, 10 years after he left both the throne and the world.

He was His Imperial Majesty Oba Okunade Sijuwade, Olubuse II CFR, whose family members, friends, the traditional institutions and a whole lots more trooped out enmasse to elevate. It was by every inch the mother of all remembrance and memorial ceremonies. Oba Okunade Sijuwade is the 50th Oni of Ife. He died in 2015.

Led by his immediate successor, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II, honours were lavishly bestowed on the late Ooni at the grand memorial event in Lagos marking ten years since the revered monarch’s passing.

The remembrance ceremony, organized by the Sijuwade Royal Family in partnership with the National Council of Traditional Rulers of Nigeria (NCTRN), brought together an array of royal dignitaries, traditional rulers, diplomats, scholars, and members of the business community, as well as family and friends of the late monarch, and featured among other things a memorial exhibition titled “The Life and Times of Oba Okunade Sijuwade”. The exhibition was a showcase of rare photographs, heirlooms, and artifacts from the Ooni’s reign.

The carefully curated displays were placed at strategic points, as mannequins dressed in royal attire, historical artefacts, and photographs told the story of Oba Sijuwade as a king who redefined traditional leadership in contemporary Africa.

In his speech, Oba Ogunwusi praised the late Sijuwade as a transformational figure who left an indelible mark on Yoruba culture, traditional governance, and national unity.

“Our iconic father – for all the great things. He came, he saw, he conquered, and we’re all the result of his handiwork,” the Ooni noted.

He noted that although the late Ooni’s roots were in Ile‑Ife, Lagos was chosen for the 10th remembrance to allow broader public participation, especially from descendants and associates living across Nigeria and the Diaspora.

“We debated about it amongst the family and we concluded on Lagos,” he added.

Reminiscing on how the legacies of humility, hardwork and honour of her father continue to keep the family going, one of the late Ooni’s daughters, Princess Adenekan Adebunyi, spoke movingly about her father’s character and approach to raising his children.

According to her, “My father was not just a royal figure; he was a father in every sense. He raised us to be strong, independent, and self-sufficient. Education was non-negotiable for him. Today, as we remember him, we also celebrate how he touched countless lives both at home and abroad,” she said.

In his keynote address, the keynote speaker, Professor Jacob Kehinde Olupona, a professor at Harvard University and respected Yoruba scholar, shared personal recollections of Oba Sijuwade’s visit to the Ivy League institution.

“His visit to Harvard was unforgettable. He brought dignity, culture, and royalty into that space. He made us proud to be Yoruba,” Prof. Olupona said. “What made him truly special was his humility, openness to outsiders, and respect for tradition. He elevated the throne beyond imagination.”

Olupona also highlighted Oba Sijuwade’s respect for Yoruba priests and traditional religious institutions, noting the late Ooni’s deep understanding of their significance in governance and spirituality.

Also speaking was the Orangun of Oke-Ila in Osun State, Oba Dokun Abolarin, who described Oba Sijuwade as a role model in both tradition and leadership.

“He was a man of immense wisdom, style, and passion for history. I remember how he once woke me at midnight during a trip to Harvard and told me, ‘If you want to make a difference, you don’t sleep too much.’ That work ethic shaped my journey as a monarch,” Oba Abolarin said.

He described the late Ooni as a bridge-builder who nurtured deep friendships across Nigeria’s ethnic divides, citing his close relationships with the late Emir of Kano and the Obi of Onitsha.

“Kabiyesi was not just about tradition; he believed in the future of Nigeria. He was a nation builder, a cultural icon, and a mentor to many of us who now sit on thrones,” he added.

In his remarks, Prince Akinade Adenekan Adebunyi of the Oshunkola Ruling House in Ife described the late monarch as a man of integrity, influence, and immense style.

“Kabiyesi was truly a king of kings,” he said. “He wasn’t just a royal figure; he was a builder of unity among the Yoruba Obas and across Nigeria. I remember how he played a key role in fostering peace between the North and the South during the political turbulence of President Obasanjo’s time. That’s the kind of leader he was,” he said.

The event was a pot pourri of celebrities  and a roll call of classy personalities and policy makers from different sectors of the nation’s socio-economic leaning.

Some of them were the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi; Governor of Lagos State, Babajide Sanwo-Olu; former governors Gbenga Daniel and Ibikunle Amosun of Ogun State; Chief (Dr) Yemi Ogunbiyi, the Emir of Lafia, Justice Sidi Mohammed (retd); Orangun of Oke-Ila, Oba Adeokun Abolarin, Dein of Agbor, Ikenchukwu, Tor Tiv, Prof James Ayatse and media icon, Chief Dele Momodu.

Others were former Senate President, Bukola Saraki, Emir of Kano, Aminu Bayero; former Ekiti Governor, Kayode Fayemi; former Ondo governor, Segun Mimiko, former Osun governor, Rauf Aregbesola; Fashion Entrepreneur, Seyi Vodi among a host of others.

Oba Sijuwade is widely regarded as a visionary monarch who modernised traditional rulership, promoted cultural diplomacy and championed African unity on the global stage in addition to reconciling royal institutions and promoting inter-ethnic cooperation.

The event also featured a symposium with the theme “Securing and Unifying Nigeria through Traditional Institutions,” delivered by Professor Jacob Olupona of Harvard Divinity School.

A panel discussion, moderated by media scholar Dr. Yemi Ogunbiyi, brought together notable voices including, Emir of Lafia Sidi Mohammed, Orangun of Oke-Ila Oba Adeokun Abolarin, Tor Tiv James Ayatse, Dein of Agbor Benjamin Ikenchukwu, former director general of the state security service Kayode Are (Retd) and Chairman, Ovation Media Group, Chief Dele Momodu.

The day’s events culminated in a grand banquet with tributes, music and cultural performances attended by traditional rulers, government officials, diplomats and business leaders.

The after-symposium gathering saw the duo of Evangelist Ebenezer Obey and King Sunny Ade serenading the guests with evergreen songs just as Beejay Sax was on hand with melodious tones.

OBA OKUNADE SIJUWADE (1930 – 2015)

According to accounts obtained from Wikipedia, the life and times of Oba Sijuwade is captured as follows:

Born January 1, 1930, Alayeluwa Oba Okunade Sijuwade CFR, was the 50th traditional ruler (or Ooni) of Ife from December 6, 1980 to his death on July 28, 2015. He reigned for 35 influential years, taking the regnal name Olubuse II. His installation ceremony was attended by the Emir of Kano, Oba of Benin, Amayanabo of Opobo and Olu of Warri, as well as by representatives of the Queen of the United Kingdom.

Sijuwade was born to the ruling House of Sijuwade which is a fraction of the Ogboru ruling house, Ilare, Ile-Ife. His paternal grandfather was Ooni Adelekan Sijuwade – Olubuse I the 46th Ooni of Ife who ruled from 1884 – 1910. While his father was Omo-Oba Adereti Sijuade (1895 – 11 May 1949) and his mother was, Yeyeolori Emilia Ifasesin Sijuwade (nee Osukoti Adugbolu), from the town of Akure. He was a Christian and in November 2009 he attended the annual general meeting of the Foursquare Gospel Church in Nigeria accompanied by 17 other traditional rulers. He declared that he was a full member of the church and said all the monarchs who accompanied him would now become members. At his birthday celebration two months later, the Primate of the Anglican Communion described Sijuwade as “a humble monarch, who has the fear of God at heart”.

A former Governor of Anambra State, Peter Obi, has dismissed claims that he needs clearance to visit Edo, saying he is not afraid to visit any State in Nigeria.

Obi made the remarks on Thursday, during the presentation of a N50 million cheque to his alma mater – Christ the King College (CKC) – in support of infrastructural development.

Obi expressed disappointment that his recent visit to Benin was politicised, clarifying that the visit was to support healthcare development in the State.

“I am not afraid of visiting any state in Nigeria, particularly when the purpose is to support causes that contribute to nation-building, such as education, health, and poverty alleviation,” Obi said.

The donation, made in collaboration with fellow old boys of the school, aims to improve educational facilities and learning conditions at the institution.

Obi described the gesture as a show of gratitude to the institution that shaped the values of himself and many others.

“This school helped form the values I and many others still hold dear today — discipline, moral grounding, and academic excellence. Supporting it is a way of giving back,” he added.

Obi called on other alumni of CKC and across the country to support their former schools, noting that the burden of educational development should not be left to the government alone.

In his remarks, the Archbishop of Onitsha, Most Rev. Valerian Okeke, also an Old Boy, commended Obi and others for their dedication to education and national development.