Senate summons Kyari, others over alleged N210tn unaccounted expenditure in NNPCL

The Nigerian Senate has summoned the former Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, to appear before its investigative committee over an alleged N210 trillion expenditure by the national oil company between 2017 and 2023.

Also invited by the lawmakers are the former Chief Financial Officer, Umar Isa, and the former Group General Manager of the National Petroleum Investment Management Services (NAPIMS), Bala Wunti.

In a report by the Punch newspaper on Thursday, the Senate committee warned that warrants of arrest could be issued against the former officials if they fail to honour the summons on a date to be communicated.

Chairman of the committee, Aliyu Wadada, who represents Nasarawa West, announced the resolutions while briefing journalists after the panel’s deliberations. He said the former management team is expected to appear before the committee alongside the current NNPCL Group Chief Executive Officer, Bayo Ojulari.

According to Wadada, the committee is demanding explanations for a total of N210 trillion allegedly not properly accounted for in the company’s audited financial statements. The amount comprises N103 trillion and N107 trillion referenced in the audit reports.

“The NNPCL should refund the sum of N210 trillion, being the combined sum of N103 trillion and N107 trillion, which were not properly accounted for as contained in the audit reports,” Wadada said.

He added that the committee also directed the oil company to remit to the national treasury all production costs charged against crude oil revenue during the period under review, arguing that NNPCL and its subsidiaries, including NAPIMS, do not directly produce crude oil.

The committee further recommended that the Office of the Auditor-General for the Federation conduct a forensic review of NNPCL’s audited financial statements for the period, in line with Section 85 of the Nigerian Constitution.