…….Former NNPCL executives deny missing funds allegation as Senate intensifies investigation
By Rejoice Peterside
The Senate Committee on Public Accounts on Wednesday ordered the arrest of former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, over his repeated failure to appear before lawmakers investigating alleged N210 trillion in unaccounted funds linked to the company’s operations between 2017 and 2023.
The directive followed Kyari’s absence from an investigative hearing convened to examine queries raised by the Office of the Auditor-General of the Federation concerning NNPCL’s financial records during the period under review.
The committee’s decision came after several senators rejected appeals for another adjournment and insisted that the probe must continue without further delay.
Lawmakers disclosed during the session that the committee had met nine times over the matter and accused the former NNPCL boss of consistently failing to honour invitations extended to him.
Senators Saliu Mustapha and Tony Nwoye had appealed to the committee to exercise caution, explaining that Kyari was reportedly ill and currently receiving treatment in Germany.
However, their plea was strongly opposed by other members of the panel who insisted that no official medical documentation had been submitted to justify his absence.
Senator Abdul Ningi argued that verbal explanations were insufficient, maintaining that the committee could not suspend its constitutional responsibility based on unverified claims.
The motion for Kyari’s arrest was subsequently moved by Senator Victor Umeh and seconded by the committee’s deputy chairman, Senator Peter Nwaebonyi.
Nwaebonyi said the panel had already spent months handling the matter and warned that additional delays would undermine the credibility of the investigation.
“This is the ninth time this committee is meeting on the 19 queries raised against NNPCL by the Office of the Auditor-General of the Federation,” he said.
“Mr Chairman, the time to issue a warrant of arrest against Mele Kyari is now because the committee must conclude its assignment and report back to the Senate.”
Former Edo State Governor and senator representing Edo North, Adams Oshiomhole, also backed the move, warning that the Senate risked losing its authority if individuals summoned before lawmakers refused to comply.
“Some people believe they are bigger than Nigeria. The law must be effective when it catches the lion, not only when it catches the rabbit,” Oshiomhole declared during the hearing.
Following a voice vote, the Chairman of the Committee, Senator Ibrahim Dankwambo, ruled that Kyari should be arrested and produced before the panel.
“Anywhere Mele Kyari is, he should be arrested and brought before this committee,” Dankwambo declared.
At the centre of the controversy is an allegation that N210 trillion could not be accounted for in NNPCL’s financial records.
But former Chief Financial Officer of the company, Umar Isa, dismissed the claim, insisting that the figure was misleading and inconsistent with the company’s actual earnings.
According to him, NNPCL generated about N54.5 trillion within the period under review, making it impossible for N210 trillion to be missing.
“To be clear, if money had gone missing at NNPC during our tenure, we would not have had the courage to publish audited accounts,” Isa told the committee.
“For over 40 years, those accounts were either not prepared, not made public, or not even shared with the Auditor-General.
“N210 trillion is an enormous sum. NNPC’s total revenue in the period under review was about N54.5 trillion, even before deducting production costs. It’s impossible for N210 trillion to be missing or unaccounted for,” he said.
Isa also denied allegations that N5.8 billion was spent on the registration of NNPC Limited, describing the claims as inaccurate and harmful to Nigeria’s image.
He warned that unverified reports could damage Nigeria’s reputation before international financial institutions and investors.
“Unfounded claims do real damage. They harm the reputations of individuals, the company and Nigeria itself. International rating agencies use public information to assess countries. Negative and inaccurate reports can hurt Nigeria’s credit rating and national interests,” he added.
He further recalled how a previous petition allegedly disrupted efforts to secure about $2.5 billion Chinese financing for the Ajaokuta-Kaduna-Kano Gas Pipeline project.
According to him, such allegations discourage public servants and undermine confidence in critical national projects.
“When people claim N210 trillion is missing, they should be asked where exactly the money went. Agencies like the Nigerian Financial Intelligence Unit and the EFCC should investigate and establish the facts so Nigerians can trust the truth,” Isa stated.
The committee later directed Isa and former Chief Upstream Investment Officer, Bala Wunti, to appear before it again within two weeks as the investigation continues.
