Senate Probes ₦210tn NNPCL Spending, Summons Kyari, Others

The Senate has invited former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, to appear before its investigative committee over an alleged ₦210 trillion expenditure recorded by the company between 2017 and 2023. Also summoned are the firm’s former Chief Financial Officer, Umar Isa, and Bala Wunti, a former Group General Manager of NAPIMS. Lawmakers warned that failure to honour the invitation could attract arrest warrants.

During the probe, senators raised questions over figures contained in the company’s audited financial statements, including ₦103 trillion linked to cumulative joint venture cash calls and another ₦107 trillion listed as sundry receivables. The committee said the explanations submitted by the company left several issues unresolved and insisted that all related transactions must be fully clarified.

The panel further demanded details on about ₦5 billion reportedly spent on rebranding the defunct Nigerian National Petroleum Corporation into the Nigerian National Petroleum Company Limited, raising concerns about the justification for the expenditure.

The Senate also directed the current Group Chief Executive Officer, Bayo Ojulari, to appear alongside the former officials and external auditors involved within the period under review, while the Office of the Auditor-General for the Federation has been asked to conduct a forensic audit of the company’s financial records.