What Are They Hiding? Senate Furious as CBN, NUPRC, NDDC Skip Probe Into Billions From Nigeria’s Oil Sector

Tension flared at the National Assembly on Monday after several top government agencies failed to appear before a Senate committee investigating billions of naira linked to Nigeria’s oil and gas industry, raising fresh questions about transparency and accountability in the sector.

Among the agencies that failed to honour the Senate invitation were the Central Bank of Nigeria (CBN), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Niger Delta Development Commission (NDDC).

Their absence immediately stalled proceedings and angered members of the Senate Public Accounts Committee, who described the development as a serious disregard for the authority of the National Assembly and the Nigerian people.

The committee, chaired by Senator Ibrahim Hassan Dankwambo of Gombe North, had launched a far-reaching investigation based on findings contained in the Nigeria Extractive Industries Transparency Initiative (NEITI) audit reports covering 2021, 2022 and 2023.

The exercise is expected to examine how revenues from the oil and gas sector were generated, managed and remitted, while also looking into royalty payments, taxes, compliance issues and financial obligations involving dozens of government agencies and oil companies.

But what was expected to be a crucial hearing quickly turned into a session of frustration after lawmakers waited for more than an hour without seeing any representatives from the invited agencies.

The committee was eventually forced to suspend proceedings.

Several senators did not hide their disappointment, accusing the agencies of treating legislative oversight with contempt.

Senator Babangida Hussaini described the repeated failure of government institutions to honour Senate invitations as a growing problem that could weaken public confidence in democratic institutions.

According to him, the Senate's investigative powers are backed by the Constitution and its Standing Orders, making compliance with its summons a legal responsibility, not a matter of choice.

He noted that lawmakers had cut short their annual recess and constituency activities to attend the hearing, only to be left waiting by agencies expected to explain how public resources are being managed.

Hussaini warned that allowing such behaviour to go unchecked could send a dangerous message that government agencies are free to ignore accountability mechanisms without consequences.

Other lawmakers shared similar concerns.

Senator Francis Ndubueze questioned why none of the agencies deemed it necessary to communicate with the committee before the hearing.

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He pointed out that no letters were sent, no explanations were offered and no officials were delegated to represent the organisations.

According to him, the silence from the agencies was not only disrespectful to the Senate but also undermined efforts to ensure transparency in public service.

Following the heated discussions, the committee resolved to give the agencies one final opportunity to appear before it on Thursday, August 6, 2026.

The committee also directed its secretariat to immediately notify all affected organisations that failure to honour the new date could force the Senate to invoke its constitutional powers to compel compliance.

The investigation is being conducted under Sections 85(5), 88 and 89 of the 1999 Constitution, as amended, and relevant provisions of the Senate Standing Orders.

At the heart of the probe are NEITI audit reports detailing revenues generated from Nigeria’s oil and gas industry, including royalty payments, taxes, production figures, remittances and compliance with statutory obligations.

Lawmakers say they want to determine whether revenues due to the Federation Account were fully remitted, whether financial regulations were followed and whether any gaps identified in the audit reports require legislative action or prosecution.

The probe is expected to draw appearances from major institutions including the Nigerian National Petroleum Company Limited (NNPCL), NEITI, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the Office of the Accountant-General of the Federation, the Office of the Auditor-General for the Federation, the Ministry of Petroleum Resources, the Federal Ministry of Finance and the Federation Account Allocation Committee (FAAC).

Several indigenous and international oil companies are also expected to participate.

With the opening session ending without any substantive engagement, attention is now firmly on Thursday's hearing, where the Senate is expected to decide whether tougher measures should be taken against agencies that continue to ignore its summons.

For many observers, the question now is simple: if there is nothing to hide, why stay away from the hearing?