Mele Kyari, Ex-NNPCL Officials to Brief Senate Over N210trn Unremitted Funds in Two Weeks

The Senate Committee on Public Accounts (PAC) has directed former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari and other past and present officials of the company, to appear before it within two weeks over the alleged N210 trillion unremitted funds flagged in audit reports.

This is just as lawmakers threatened to invoke constitutional powers to compel the appearance of the current NNPCL Group Chief Executive Officer (GCEO), Bashir Bayo Ojulari, including the issuance of a warrant of arrest, over what they described as repeated disregard for legislative summons.

The committee, chaired by Senator Aliyu Wadada, issued the directive on Tuesday at the National Assembly during a hearing on the audited financial statements of the NNPCL spanning 2017 to 2023.

Proceedings were stalled after the committee declined to entertain representatives of the company in the absence of both the GCEO and the Chief Financial Officer (CFO), insisting on their physical presence.

A letter from the NNPCL, read at the session, had conveyed the inability of the GCEO and senior management team to attend the hearing due to official engagements outside the country. The company, however, nominated its Financial Controller, Tajuddeen Kareem, to represent it.

But the committee rejected the arrangement. Wadada faulted the timing of the communication, noting that it was dated the same day as the scheduled hearing, contrary to the committee’s requirement for prior notice.

“We cannot hold today’s session without the GCEO and the current Chief Financial Officer being here,” he said, stressing that while the committee appreciated the company’s eventual communication, due process must be followed.
He added that the committee’s inquiry was not accusatory but aimed at obtaining clarity on discrepancies contained in the company’s audited accounts.

“Nobody from this committee has said any money has been stolen. What we are saying is that the figures presented need further explanation for proper understanding and for the benefit of Nigerians,” he stated.

Tensions rose during the session as several lawmakers expressed frustration over what they described as NNPCL’s persistent failure to honour invitations.

Senator Adams Oshiomhole described the absence of the GCEO as disrespectful to the Senate and the Nigerian people.

“It is an insult for a subordinate to write on behalf of the GCEO explaining his absence. Does he consider himself above the Constitution or the President?” he queried.

Oshiomhole argued that failure to provide satisfactory explanations for the disputed funds could imply misappropriation.

“What cannot be explained must be deemed to have been stolen. It is their responsibility to prove otherwise,” he said, urging the committee to consider issuing a warrant of arrest.

Similarly, Senator Victor Umeh (Anambra Central) described the situation as “despicable,” insisting that Nigerians deserved answers on the N210 trillion in question.
He argued that the Financial Controller, having been authorised to represent the company, should have been allowed to testify under oath.

However, other lawmakers, including Senator Saliu Mustapha (Kwara Central), suggested that the committee proceed with questioning former officials already present, particularly Umar Ajiya, a former Chief Financial Officer of the defunct NNPC, who attended the session.

Despite the differing views, the committee maintained its earlier position requiring the presence of the current management before proceeding.

Earlier, Senator Abdul Ningi (Bauchi Central) informed the panel that Kyari and other relevant officials were expected to be available at the next hearing, indicating that communication gaps between the committee and the NNPCL were being addressed.

Central to the committee’s probe is the disputed N210 trillion, which it said was derived from inconsistencies in NNPCL’s audited financial statements.

Wadada explained that N103 trillion of the amount was recorded as accrued expenses without proper itemisation. According to him, the NNPCL had attributed the figure to payments to Joint Venture partners under cash call arrangements—an explanation the committee rejected, noting that the cash call system was abolished in 2016.

“That explanation is inconsistent with their own audited statements,” he said.

The remaining N107 trillion, classified as receivables, was also queried, with the committee faulting the company’s claim that the funds were owed by unnamed defunct banks.

“No specific bank was mentioned, and no figure was tied to any entity. That is not acceptable under any accounting principle,” Wadada stated.
The committee reiterated its resolve to conclude the probe, insisting that all relevant officials must appear to provide detailed explanations.

It subsequently resolved to reconvene within two weeks, with a directive that former and current NNPCL management, including Kyari, be present for questioning.