‘We Are Not Thieves,’ Ex-NNPCL CFO Fires Back at Oshiomhole

Former Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), Umar Ajiya, has defended the company against allegations of corruption and financial mismanagement, insisting that no funds went missing during his tenure.

Ajiya made the remarks during a hearing of the Senate Public Accounts Committee, which is investigating allegations relating to the financial activities of the national oil company.

His comments came in response to criticism by Senator Adams Oshiomhole, who reportedly described NNPCL as a “house of thieves” while raising concerns over certain expenditure items and financial transactions undertaken by the company.

Addressing lawmakers, Ajiya rejected the allegations and maintained that the company’s financial records were transparent and properly documented.

“We are not thieves,” he told the committee, adding that contrary to allegations circulating in some quarters, N2.9 billion not N5.8 billion was spent on the incorporation and rebranding of NNPCL.

According to him, the figures being cited by critics were either misunderstood or misrepresented, stressing that all expenditures were duly accounted for in the company’s financial records.

The former CFO further assured lawmakers that NNPCL had consistently embraced transparency by publishing its audited financial statements and making them available for public scrutiny.

“If money was actually missing, we would not have had the confidence to publish our audited accounts for Nigerians to examine,” Ajiya said.

He explained that the company routinely submitted its financial statements to the Auditor-General and uploaded audited reports on its official platforms as part of ongoing reforms aimed at strengthening accountability and rebuilding public confidence.

Ajiya noted that transparency remained a key pillar of the reforms introduced within the organisation, particularly following its transition into a limited liability company under the Petroleum Industry Act (PIA).

The Senate Public Accounts Committee is continuing its investigation into several financial transactions and expenditure items linked to NNPCL as lawmakers seek further clarification on issues raised during the hearing.

The outcome of the probe is expected to shape ongoing discussions around transparency, accountability and governance within Nigeria’s oil and gas sector.