KYARI IN THE HOT SEAT: SENATE QUESTIONS ₦210TRN UNEXPLAINED NNPCL EXPENSES
GREATRIBUNETVNEWS–THE Senate has summoned former NNPCL CEO Mele Kyari over alleged unexplained expenses of ₦210 trillion between 2017 and 2023.
Key Issues:
– _”The Senate has summoned the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, over the alleged expenditure of ₦210 trillion by the national oil company between 2017 and 2023.”_
– Officials Summoned: Mele Kyari, former CFO Umar Isa, and former Group General Manager Bala Wunti.
– _”Members of the committee warned that a warrant of arrest could be issued if the former top officials fail to honour the invitation once the date for their appearance is communicated.”_
– Alleged Unexplained Expenses: ₦210 trillion spent by NNPCL between 2017 and 2023 is under investigation.
– _”Lawmakers said the officials must appear before the Senate committee investigating the matter.”_
Wadada said the former management team would appear before the committee together with the current leadership of the NNPCL led by the incumbent Group Chief Executive Officer, Bayo Ojulari, as well as the company’s external auditors who handled its accounts during the period under review.
According to the senator, the committee is demanding explanations for ₦210 trillion identified in the audit report, which includes ₦103 trillion and ₦107 trillion, which is said to be inadequately explained in the company’s financial records.
“When the two figures are combined, NNPCL needs to properly account for ₦210 trillion,” he said, noting that the committee had earlier sent 19 queries to the company but was dissatisfied with the responses received.
Lawmakers also questioned the reported ₦5 billion spent on changing the name of the former Nigerian National Petroleum Corporation to the Nigerian National Petroleum Company Limited.
“This to us in the committee is unacceptable, and satisfactory explanations must be given,” the committee stated, while recommending a forensic audit of the company’s financial statements by the Office of the Auditor-General for the Federation in line with the 1999 Constitution. Kyari led the national oil company from 2019 to 2025.
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