Senate Summons Kyari, Ajia Over Unaccounted N210 Trillion in NNPCL Accounts

The Senate Committee on Public Accounts has summoned former executives of the Nigerian National Petroleum Company Limited (NNPCL) over N210 trillion flagged in audit reports as not properly accounted for between 2017 and 2023.

Those invited include former Group Chief Executive Officer Mele Kyari, former Chief Financial Officer Umar Ajia Isa and former Group General Manager of the National Petroleum Investment Management Services (NAPIMS), Bala Wunti.

The committee, chaired by Aliyu Wadada, issued the summons after reviewing audit queries relating to the company’s financial records. Wadada said the former officials are expected to appear before the panel on a date that will be communicated to them, warning that a warrant of arrest could be issued if they fail to honour the invitation.

The committee also asked the current management of NNPCL, led by Group Chief Executive Officer Bayo Ojulari, as well as the company’s external auditors during the period under review, to appear at the hearing.

According to the committee, the amount in question consists of two figures—N103 trillion and N107 trillion—identified in audit reports. Wadada said the company must properly account for the combined N210 trillion.

NNPCL told lawmakers that the N103 trillion represents cumulative expenditures by joint venture partners through JV cash calls between 2017 and 2023. The committee, however, said the explanation was not satisfactory.

The company also listed N107 trillion as subsidy receivables and other debts in its audited financial statements as of December 2023, stating that the funds were owed by banks and other entities. The committee said the figures require clearer documentation and reconciliation.

Lawmakers also questioned a reported N5 billion spent on the transition from the Nigerian National Petroleum Corporation to the Nigerian National Petroleum Company Limited, saying the expenditure requires further explanation.

The panel directed the Auditor-General for the Federation to conduct a forensic audit of the company’s financial statements for the period under review and asked NNPCL to remit to the Treasury production costs charged against crude oil revenue, noting that NNPC and its subsidiaries, including NAPIMS, do not directly produce crude oil.

The committee said its decisions followed the company’s failure to provide satisfactory responses to 19 audit queries. Wadada added that the Senate supports the administration of Bola Ahmed Tinubu and said the probe is part of efforts to strengthen transparency and accountability in the management of public funds.