Senate Panel Faults CBN, NUPRC, NDDC Over Absence At NEITI Oil Revenue Probe

Senate Panel Faults CBN, NUPRC, NDDC Over Absence at NEITI Oil Revenue Probe The Senate Public Accounts Committee has criticised the Central Bank of Nigeria CBN, the Nigerian Upstream Petroleum Regulatory Commission NUPRC, the Niger Delta Development Commission NDDC, and other agencies for failing to honour invitations to appear before lawmakers at the commencement of an investigation into Nigeria’s oil and gas revenues. The committee warned that continued failure to appear could attract constitutional sanctions, describing the agencies’ absence as a challenge to the National Assembly’s oversight authority and a setback to efforts aimed at strengthening transparency and accountability in the extractive sector.

The hearing, chaired by Senator Ibrahim Hassan Dankwambo, marked the beginning of a comprehensive legislative review of the Nigeria Extractive Industries Transparency Initiative NEITI Oil and Gas Industry Audit Reports covering 2021, 2022 and 2023. The investigation is expected to scrutinise oil sector revenues, remittances to the Federation Account, royalty payments, statutory financial obligations and regulatory compliance involving more than 60 ministries, departments, agencies and oil companies. Lawmakers expressed disappointment that despite formal invitations, public notices and weeks of advance notice, the affected agencies neither attended the hearing nor provided explanations for their absence. Their failure to appear forced the committee to suspend proceedings after waiting for over an hour. Members of the committee described the development as a disregard for the Senate’s constitutional oversight responsibilities. They argued that accountability in the management of public resources depends on government institutions responding promptly to legislative inquiries and defending issues raised in official audit reports. Following deliberations, the committee resolved to give the defaulting agencies a final opportunity to appear before it on Thursday, August 6, 2026. It directed its secretariat to issue fresh notices, warning that failure to honour the rescheduled hearing could result in sanctions under the provisions of the 1999 Constitution and the Senate Standing Orders. The Senate said the investigation forms part of its broader effort to ensure transparency, accountability and prudent management of Nigeria’s oil and gas resources, with the NEITI audit reports serving as a key benchmark for assessing compliance with financial and regulatory obligations across the extractive industry.