THE SENATE Committee on Public Accounts on Wednesday escalated its investigation into audit queries involving ₦210 trillion linked to the Nigerian National Petroleum Company Limited (NNPCL), issuing a warrant of arrest for former Group Chief Executive Officer, Mele Kyari, over his repeated failure to appear before lawmakers, even as a former top executive of the company insisted that no funds were missing.
The committee is investigating audit queries contained in reports submitted by the Office of the Auditor-General for the Federation covering the period from 2017 to 2023.
The queries relate to expenditures and financial transactions involving the NNPCL and form part of a broader examination of government finances during the period under review.
At the resumed hearing in Abuja, lawmakers expressed frustration over Kyari’s continued absence despite several invitations extended to him by the committee. Current NNPCL Group Chief Executive Officer, Bayo Ojulari, had been expected to lead the company’s delegation, while Kyari, former Chief Financial Officer Umar Ajiya, former Chief Upstream Investment Officer, Bala Wunti, and the company’s external auditors were also scheduled to appear.
Kyari’s absence provoked sharp reactions from members of the committee, who argued that the former NNPCL chief had failed to demonstrate respect for the National Assembly’s oversight responsibilities.
Senator Victor Umeh, who moved the motion for the issuance of an arrest warrant, said the committee could not continue to wait indefinitely for Kyari to appear and answer questions relating to the audit findings.
According to Umeh, the magnitude of the issues under investigation required urgent attention, noting that the committee was dealing with matters involving trillions of naira at a time when the country faced significant economic challenges.
He argued that Kyari should return to Nigeria from wherever he was and provide explanations regarding the issues raised by the Auditor-General.
While supporting the need for accountability, Senator Tony Nwoye informed the committee that he had spoken with Kyari about a week earlier and had received assurances that the former NNPCL chief intended to honour the summons.
Nwoye, however, disclosed that information available to him indicated that Kyari was currently receiving medical treatment in Germany.
The explanation failed to sway many committee members. Senator Onyekachi Nwaebonyi rejected attempts to justify Kyari’s absence, stressing that the former NNPCL chief had allegedly ignored the committee’s invitations on nine separate occasions.
He seconded the motion for the arrest warrant, arguing that the committee could no longer tolerate continued non-compliance.
Following a unanimous voice vote, Committee Chairman Senator Ibrahim Dankwambo approved the motion, formally authorising the issuance of a warrant of arrest against Kyari.
The dramatic development came as former NNPCL Chief Financial Officer, Umar Ajiya, appeared before the committee to respond to some of the audit queries and strongly disputed suggestions that N210 trillion could not be accounted for.
Addressing lawmakers, Ajiya maintained that reports suggesting the disappearance of such a huge sum were inaccurate and misleading.
He assured the committee and Nigerians that no money was missing, arguing that senior officials who managed the company’s finances during the period under review had consistently presented and defended the organisation’s accounts.
According to him, the company had made deliberate efforts in recent years to improve transparency by preparing audited financial statements, submitting them to the Auditor-General and publishing them for public scrutiny.
He said these measures represented a significant departure from previous decades when NNPC accounts were either not prepared, not publicly released or not made available to auditors.
Ajiya specifically addressed concerns surrounding an audit observation that ₦5.8 billion was allegedly spent on the registration of NNPC Limited following the implementation of the Petroleum Industry Act.
He described the figure as incorrect, stating that the actual amount spent was ₦2.9 billion and that the money was paid directly to government agencies, including the Corporate Affairs Commission and the Federal Inland Revenue Service, now known as the Nigeria Revenue Service.
He explained that the payment was made by NNPCL on behalf of the company’s shareholders and that subsequent accounting entries by relevant government entities may have led to a misunderstanding that resulted in the amount being effectively counted twice.
According to him, no third party received funds for the registration process and the transactions could be independently verified through the agencies involved.
The former finance chief further warned that inaccurate allegations of missing funds could damage the reputation of both the company and the country.
He noted that international investors and rating agencies often rely on publicly available information when assessing countries and corporations, arguing that unverified claims could undermine Nigeria’s economic interests and discourage investment.
Ajiya also called for law enforcement and financial intelligence agencies to investigate any allegations of missing funds and establish the facts, insisting that Nigerians deserved accurate information on matters of public finance.
Following his presentation, the committee adjourned further proceedings and directed Ajiya and Bala Wunti, who served as Chief Upstream Investment Officer during the period under review, to reappear before it in two weeks as the investigation continues.
The Senate probe is expected to remain in focus in the coming weeks, with lawmakers seeking explanations for the audit observations while former and current NNPCL officials continue to defend the company’s financial records and governance practices.
