By Peterside Rejoice
The Senate has summoned the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, over an alleged N210 trillion expenditure by the national oil company between 2017 and 2023 which lawmakers say has not been properly accounted for.
Also invited to appear before the Senate panel are the former Chief Financial Officer of the company, Umar Isa, and the former Group General Manager of the National Petroleum Investment Management Services, Bala Wunti.
The Senate committee handling the probe warned that warrants of arrest could be issued against the former management officials if they fail to honour the invitation on the date to be communicated.
Chairman of the committee and Senator representing Nasarawa West, Aliyu Wadada, disclosed the resolutions while addressing journalists after the panel’s deliberation.
According to him, the summoned officials are expected to appear alongside the current Group Chief Executive Officer of NNPCL, Bayo Ojulari, as well as external auditors who handled the company’s financial records within the period under review.
Wadada said the committee resolved that NNPCL must account for the combined sum of N210 trillion, comprising N103 trillion and N107 trillion, flagged in the company’s audit reports.
He explained that the oil company had claimed the N103 trillion represented cumulative expenditures by joint venture partners through JV cash calls since 2017, but the committee rejected the explanation, stating that the figure remains unresolved.
The committee also raised concerns over N107 trillion recorded as subsidy receivables and sundry debts allegedly owed to the company by various financial institutions and other entities as of December 2023.
Lawmakers further queried the reported N5 billion expenditure on the transition of the defunct Nigerian National Petroleum Corporation to the Nigerian National Petroleum Company Limited, describing the cost as excessive and demanding detailed justification.
In addition, the committee directed the Office of the Auditor-General for the Federation to conduct a forensic review of the audited financial statements of NNPCL for the period under review in line with the provisions of the 1999 Constitution.
Despite the concerns raised, the Senate committee reaffirmed its support for the administration of Bola Tinubu, noting that the Federal Government remains committed to transparency, accountability, and prudent management of public resources.
