The Senate Committee on Public Accounts has summoned former Nigerian National Petroleum Company Limited (NNPCL) Group CEO Mele Kyari and his management team over alleged financial irregularities amounting to N210 trillion.
Senator Ahmed Wadada, chairman of the committee, announced the summon at a press conference in Abuja on Thursday, saying it followed NNPCL’s unsatisfactory responses to audited financial statements covering 2017 to 2023.
The inquiry, which began in May 2025, was prompted by concerns raised by the Office of the Auditor-General for the Federation in reports for 2019 and 2020. The committee issued 19 questions to NNPCL management seeking clarifications on discrepancies, but the answers were largely deemed inadequate.
“One major issue is an accrued expenses figure of N103 trillion in the 2022 audited statements, covering retention, legal, and audit fees, without clear allocations,” Wadada explained. NNPCL later claimed this represented cumulative spending by joint venture partners under the joint venture cash call arrangement. The committee rejected this explanation, noting the regime was abolished in 2016 and has not applied since January 2017.
The committee also challenged the N107 trillion recorded as sundry receivables as of December 2023. NNPCL said part of the sum was owed by defunct banks and other entities but failed to provide a detailed breakdown identifying the responsible institutions.
Wadada said the officials are now required to provide comprehensive explanations for the alleged financial infractions.
