Senate summons ex-NNPC boss Mele Kyari over alleged N210trn financial discrepancies

The Senate Committee on Public Accounts has summoned former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, and members of his management team to appear before it over alleged discrepancies amounting to N210 trillion in the company’s financial reports.

Chairman of the committee, Aliyu Wadada, disclosed this during a committee session on Thursday, stating that the invitation followed what lawmakers described as unsatisfactory and unacceptable responses from the NNPCL management regarding queries raised on its audited financial statements covering 2017 to 2023.

Wadada explained that the committee had been conducting a detailed review of the company’s financial records for several months to ensure that its findings would be comprehensive and credible.

According to him, the prolonged investigation should not be interpreted as inactivity on the part of the committee.

“It is well known to the general public that this committee investigated the audited financial statement of the Nigerian National Petroleum Company Limited from 2017 to 2023,” Wadada said.

“The investigation lingered, not because the committee abandoned it but because we wanted to do a very thorough job so that the outcome will not be ambiguous and will send the right signal to the public.”

The lawmaker revealed that the inquiry was initiated in May 2025 after the committee reviewed reports from the Office of the Auditor-General for the Federation relating to the financial years ending 2019 and 2020.

Following the concerns raised in the audit reports, the committee extended its examination to the company’s audited financial statements prepared by external auditors.

READ ALSO: Electoral Bill: Opposition lawmakers protest as House adopts Senate’s clause

Wadada further stated that lawmakers also scrutinized financial records of the former National Petroleum Investment Management Services (NAPIMS), which has since been restructured and renamed NNPCL Upstream Investment Limited.

According to him, the review of the documents revealed inconsistencies and gaps in the financial records, prompting the committee to issue a series of queries to the management of the national oil company.

He disclosed that the committee raised a total of 19 questions seeking detailed clarifications on the discrepancies identified during the examination of the accounts.

The committee expects Kyari and other top officials who served during the period under review to provide explanations and supporting documents to address the concerns raised by lawmakers.

Observers say the probe reflects growing legislative scrutiny of the financial operations of the Nigerian National Petroleum Company Limited following its transition from a state-owned corporation to a commercial entity under the Petroleum Industry Act.

The outcome of the investigation is expected to have significant implications for transparency and accountability in Nigeria’s oil and gas sector.