The Senate has issued a fresh 72-hour deadline to the Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria (CBN), and several other government agencies to respond to outstanding audit queries, reaffirming its commitment to strengthening transparency, accountability, and prudent management of public resources. The directive was issued during a legislative session in which lawmakers expressed concern over delays in providing explanations and relevant documents relating to observations raised in audited financial reports. Senators emphasized that public institutions have a constitutional responsibility to account for the management of government funds and comply promptly with oversight requests from the National Assembly. According to the lawmakers, timely responses to audit queries are essential for promoting fiscal discipline, improving public confidence in government institutions, and ensuring that financial regulations are fully observed. They warned that failure to meet the new deadline could attract further legislative actions in line with the powers of the Senate. Representatives of the affected agencies are expected to submit detailed explanations and supporting documentation addressing the issues raised by the relevant oversight committees. Governance experts noted that legislative oversight remains a critical component of Nigeria’s democratic system, helping to strengthen financial accountability and ensure that public funds are managed efficiently and transparently. They added that regular audits and parliamentary reviews contribute to better governance by identifying weaknesses in financial management and encouraging compliance with established laws and regulations. Stakeholders also urged government agencies to cooperate fully with oversight institutions and maintain high standards of transparency in public administration. The renewed deadline reflects the Senate’s determination to reinforce accountability across public institutions while promoting responsible financial management, good governance, and effective stewardship of national resources in the interest of all Nigerians.
