A former Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), Umar Ajiya, has strongly denied allegations of financial impropriety against the company, insisting that neither NNPCL nor its employees are involved in stealing public funds.
Ajiya made the remarks during a hearing of the Senate Public Accounts Committee, which is currently examining claims of financial mismanagement within the state-owned oil company.
His response came after Senator Adams Oshiomhole, representing Edo North, reportedly described NNPCL as a “house of thieves” while raising concerns about the company’s financial operations.
Rejecting the allegations, Ajiya maintained that the company has operated transparently and has not misappropriated any funds. He also corrected reports regarding the cost of the company’s incorporation and rebranding, stating that ₦2.9 billion, rather than ₦5.8 billion, was spent on the process.
“We are not thieves. The amount used for the registration of NNPC was ₦2.9 billion, not ₦5.8 billion,” Ajiya said. He added that he had consistently appeared before the committee over the years to explain and defend the company’s financial records.
The former CFO assured lawmakers and Nigerians that no funds were missing from the company, stressing that NNPCL had nothing to conceal.
According to him, the publication of the company’s audited financial statements over the years demonstrates its commitment to transparency and accountability.
Ajiya argued that if there had been any missing funds, the company would not have openly released its audited accounts for public scrutiny. He noted that the reports were not only submitted to the Auditor-General of the Federation but were also made available on the company’s website to encourage public review and build trust.
He said the decision to publish the accounts was part of efforts to address longstanding concerns about opacity in the operations of the national oil company and to strengthen public confidence in its management.