Senate Invites Former NNPCL GCEO Kyari Over N210trn Audit Queries

Senate Invites Former NNPCL GCEO Kyari Over N210trn Audit Queries

The Senate has invited former Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, to appear before its committee over audit concerns relating to about N210 trillion in expenditures recorded by the company between 2017 and 2023.

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

Chairman of the Senate committee, Aliyu Wadada, said the invitations were issued following issues raised in audit reports which lawmakers said required further clarification.

According to him, the committee expects the former management team to appear alongside the current NNPCL Group Chief Executive Officer, Bayo Ojulari, on a date to be communicated. He noted that the committee could consider additional measures, including issuing warrants of arrest, if the invitees fail to honour the summons.

Wadada explained that the N210 trillion figure referenced in the audit report comprises N103 trillion linked to joint venture cash call expenditures and N107 trillion recorded in the company’s audited financial statements as subsidy receivables.

He said the committee was seeking detailed explanations and reconciliation of the figures, stressing that the company is expected to properly account for the amounts reflected in the audit reports.

The committee also raised questions regarding about N5 billion reportedly spent during the transition from the defunct Nigerian National Petroleum Corporation to the Nigerian National Petroleum Company Limited.

Wadada said lawmakers considered the expenditure significant and requested further clarification from the company.

He added that the committee had directed the Office of the Auditor-General for the Federation to conduct a forensic audit of NNPCL’s financial statements for the period under review in line with constitutional provisions.

Despite the concerns raised, the committee reaffirmed its support for the administration of Bola Ahmed Tinubu, stating that the Federal Government remains committed to transparency and accountability in the management of public resources.