The Senate Committee on Public Accounts, led by Senator Aliyu Wadada, has expressed grave concern over glaring discrepancies amounting to trillions of naira in the audited financial statements of the Nigerian National Petroleum Company Limited (NNPC), describing the findings as deeply troubling and astonishing. During an investigative hearing on Wednesday, where NNPC's Chief Financial Officer, Dapo Segun, appeared before the committee, lawmakers highlighted the lack of detailed documentation to justify huge legal and audit expenses. They also pointed to conflicting figures in reported receivables totaling over N210 trillion from 2017 to 2023. The panel said, “Legal fees were accrued without any explanation or documentation regarding the legal services rendered. The auditors’ fees raise similar questions. There are no clear justifications. Everything we’ve seen and heard from the audited financial statements is troubling.” Senator Wadada further stated that the main concern is with the receivables. “Trillions of naira are in question, and the new document they presented this afternoon doesn’t match what’s already in their audited report. It’s completely independent and contradictory,” he said. The committee underscored that the concerns stem directly from the analysis of NNPC’s audited financial statements spanning 2017 to 2023, not from speculation. The committee has now handed over a list of 11 queries to NNPC’s finance team and given them one week to return with answers. Senator Wadada also warned that the matter would not be swept under the rug, especially as the Tinubu administration, under its Renewed Hope agenda, seeks transparency and accountability in public finance.