The Senate Committee on Public Accounts has summoned the former group chief executive officer of Nigerian National Petroleum Company Limited (NNPCL) Mele Kyari over alleged discrepancies amounting to N210 trillion.
Chairman of the committee Ahmed Wadada announced the summons at a news conference in Abuja on Thursday.
Mr. Wadada said the decision followed what the committee described as unsatisfactory responses from NNPCL regarding its audited financial statements from 2017 to 2023.
He said the inquiry began in May 2025 after concerns were raised during a review of reports by the Office of the Auditor-General for the Federation for the years ending 2019 and 2020.
According to him, the committee also reviewed the company’s audited financial statements prepared by external auditors and examined records of the former National Petroleum Investment Management Services, now known as NNPC Upstream Investment Limited, for the same period.
Wadada said the committee raised 19 questions to NNPCL seeking clarification on issues observed in the financial records but was not satisfied with the responses.
He said one of the issues was an accrued expenses figure of N103 trillion in the company’s 2022 audited financial statements. The expenses included retention fees, legal fees and audit fees, but the accounts did not assign figures to each item.
According to him, NNPCL later said the amount represented cumulative spending by joint venture partners under the joint venture cash call arrangement.
“The committee rejected the explanation, noting that the cash call regime was abolished in 2016 and took effect from January 2017,” he said.
The committee also queried N107 trillion recorded as sundry receivables as of December 2023.
Wadada said the company claimed that part of the amount was owed by some banks and other entities but did not provide details identifying the institutions responsible for the debts.
He said the committee also observed duplication of subsidy deductions amounting to N3.8 trillion.
According to him, the amount was deducted from crude oil proceeds in the accounts of NAPIMS and also from petroleum product proceeds in the books of NNPC.
Wadada also raised concerns over N5 trillion charged as direct production costs between 2017 and 2021, stating that NNPC and NAPIMS do not directly produce crude oil.
He added that the committee questioned the N5.9 billion spent on incorporation expenses during the transition from the Nigerian National Petroleum Corporation to NNPCL.
Following the findings, Wadada said the committee resolved that NNPCL must account for the combined N210 trillion from the accrued expenses and sundry receivables.
He said the committee also directed the company to refund production costs charged against crude oil revenue within the period under review.
The panel summoned the former management of NNPC and NAPIMS, including Kyari, former chief financial officer Umar Ajiya and former group general manager of NAPIMS Bala Wunti.
They are expected to appear before the committee alongside the current management of NNPCL, led by Bayo Ojulari and the external auditors who prepared the financial statements.
Wadada said the committee had also recommended that the Office of the Auditor-General for the Federation conduct a forensic audit of NNPCL’s financial statements from 2017 to 2023 in line with Section 85 of the 1999 Constitution.
He said the Senate could use its constitutional powers if those summoned failed to appear before the committee.
Mele Kyari led the national oil company from 2019 to 2025.
