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Mele Kyari, the former Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum business Limited (NPCL), Umar Ajia Isa, the Chief Financial Officer, and Dr. Bala Wunti were called before the Senate on Thursday for unaccounted-for N210 trillion spent by the business between 2017 and 2023.
The Red Chamber questioned why the National Oil Company spent a staggering N5 billion on changing its name from NNPC to NNPCL, among other things, and threatened to issue an arrest warrant against the summoned former management team of NNPCL if they did not show up on a date that would be sent to them shortly.
The Senate passed these resolutions during its Public Accounts meeting on Thursday about the summons of the NNPCL’s immediate former top management team.
The current GCEO, Engineer Bayo Ojulari, shall lead the summon on the former NNPCL management team, according to the committee’s chairman, Senator Aliyu Wadada Ahmed (Nasarawa West), who read the resolutions while briefing Senate correspondents.
One by one, Senator Wadada announced the resolutions, saying:
NNPCL should reimburse N210 trillion, which is the total of N103 trillion and N107 trillion that were improperly accounted for according to the audit findings. NNPCL is required to account for both amounts.
The committee’s second recommendation states that since the NNPC and its subsidiaries, NAPIMS and co., do not directly produce crude oil, the NNPCL should reform to treasury all production expenses charged against crude oil revenue for the period under consideration.
“3. The immediate past management of NNPCL and NAPIMS, namely Mele Kyari as the then-GCEO, Umar Ajia Isa as the then-CFO, and Bala Wunti as the then-GGM, NAPIMS, should and must appear before the committee and be led by the current management with the entire body of external auditors that served during the period under review.”
Fourth, in accordance with section 85 of the Federal Republic of Nigeria’s constitution (1999 as amended), the Auditor General for the Federation should conduct a forensic audit examination of NNPCL’s audited financial statements for the period under review.
According to the audit report, he said, the committee questioned how NNPC had spent an astounding N5 billion on changing its name from NNPC to NNPCL. He stated, “This is unacceptable to us in the committee and satisfactory explanations must be given.”
He claims that the committee’s resolutions were the result of NNPCL’s failure to provide adequate responses to the 19 issues addressed to it by the audit report.
In response to our concerns, NNPCL stated that the N103 trillion represented the total amount that NNPCL Joint Venture Partners had spent from JV Cash Calls in 2017. The N103 trillion amount is still hanging over NNPC because of this unsatisfactory answer.
According to NNPCL’s audited financial statement, the subsidy receivables were N107 trillion. As of December 2023, NNPCL has N107 trillion in assorted receivables, some of which it alleges were owing to various banks and other organizations.
When combined, NNPCL must accurately account for N210 trillion, he clarified.
However, the committee reaffirmed its legislative support for the federal government led by President Bola Ahmed Tinubu, which it claims is making every effort to guarantee accountability, openness, and probity in the handling of public funds.














