Micah Jonah, March 6, 2026
The Nigerian Senate has summoned former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, to explain alleged financial discrepancies amounting to about ₦210 trillion recorded in the company’s audit reports between 2017 and 2023.
Also invited to appear before the Senate committee are former Chief Financial Officer Umar Isa and former Group General Manager of the National Petroleum Investment Management Services, Bala Wunti.
The Senate committee warned that it could issue warrants of arrest if the former officials fail to honour the invitation when the hearing date is announced.
Chairman of the committee, Senator Aliyu Wadada, said the panel resolved that the former management team should appear alongside the current Group Chief Executive Officer of NNPCL, Bayo Ojulari.
According to the committee, the national oil company must properly account for ₦210 trillion, which represents two separate figures of ₦103 trillion and ₦107 trillion highlighted in audit reports.
Lawmakers questioned the explanation given by the company that the ₦103 trillion represented cumulative spending by joint venture partners through cash calls since 2017, stating that the clarification did not sufficiently resolve the issue.
The committee also raised concerns over ₦107 trillion recorded in the company’s audited financial statements as subsidy related receivables and other outstanding claims from various entities.
In addition, the Senate questioned the reported ₦5 billion expenditure on the transition from the former Nigerian National Petroleum Corporation to the Nigerian National Petroleum Company Limited, stating that the spending requires further explanation.
The committee further recommended that the Office of the Auditor General of the Federation conduct a forensic review of the company’s audited financial statements for the period under review in line with provisions of the 1999 Constitution.
Despite the concerns raised, the committee reaffirmed its support for the administration of Bola Tinubu, noting that the Federal Government remains committed to promoting transparency and accountability in the management of public funds.
