The Senate Public Accounts Committee (SPAC) has given Seplat Energy, Network E&P Nigeria, All Grace Energy and Aradel Energy a 48-hour ultimatum to appear before it over outstanding audit queries raised by the Nigeria Extractive Industries Transparency Initiative (NEITI).
The committee issued the ultimatum after representatives of the four oil companies failed to attend an investigative hearing held on Tuesday.
The hearing focused on audit queries contained in NEITI's 2021, 2022 and 2023 reports, with the Senate seeking explanations and clarifications from the affected companies.
The committee warned that failure to appear within the stipulated 48-hour period would lead to the full invocation of its legislative powers.
The action forms part of the Senate's oversight responsibilities and efforts to ensure accountability and transparency in Nigeria's extractive industry.
NEITI's audit reports are designed to promote transparency in the management of revenues and operations within Nigeria's oil, gas and mining sectors.
The affected companies are now expected to appear before the committee and respond to the issues raised in the audit queries or face further legislative action.
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