The Senate Committee on Public Accounts (PAC) has summoned former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, alongside past and serving officials of the company, to appear within two weeks over an alleged N210 trillion in unremitted funds flagged in audit reports.
The committee also threatened to invoke its constitutional powers, including issuing a warrant of arrest against the current NNPCL Group Chief Executive Officer (GCEO), Bashir Bayo Ojulari, citing what lawmakers described as persistent disregard for legislative summons.
The directive was issued on Wednesday during an investigative hearing at the National Assembly on the audited financial statements of the NNPCL spanning 2017 to 2023.
Proceedings ended abruptly after the committee declined to entertain representatives of the oil company in the absence of both the GCEO and the Chief Financial Officer (CFO).
A letter from the NNPCL, read during the session, stated that the GCEO and members of the senior management team were on official engagements outside the country. The company had nominated its Financial Controller, Tajuddeen Kareem, as its representative.
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However, the committee, chaired by Senator Aliyu Wadada, rejected the arrangement, faulting the timing of the communication, which was dated the same day as the hearing.
“We cannot hold today’s session without the GCEO and the current Chief Financial Officer being here,” Wadada said.
He stressed that the committee’s investigation was not an accusation of theft but an effort to obtain clarity on discrepancies identified 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.
The hearing became tense as senators accused the NNPCL management of repeatedly shunning invitations from the National Assembly.
Former Edo State Governor and senator representing Edo North, Adams Oshiomhole, described the absence of the GCEO as disrespectful to both the Senate and Nigerians.
“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?” Oshiomhole queried.
He maintained that failure by the company to satisfactorily explain the disputed figures could amount to an admission of wrongdoing.
“What cannot be explained must be deemed to have been stolen. It is their responsibility to prove otherwise,” he said, while urging the committee to consider issuing a warrant of arrest against the NNPCL boss.
Senator Victor Umeh (Anambra Central) also condemned the development, describing it as “despicable” and insisting that Nigerians deserved answers regarding the disputed N210 trillion.
He argued that the Financial Controller, having been officially authorised to represent the company, should have been allowed to testify under oath.
However, some lawmakers, including Senator Saliu Mustapha (Kwara Central), urged the committee to proceed with questioning former officials already present at the hearing, particularly Umar Ajiya, a former Chief Financial Officer of the defunct Nigerian National Petroleum Corporation (NNPC).
Despite the differing opinions, the committee insisted that the current management team must appear before it before proceedings could continue.
Earlier, Senator Abdul Ningi (Bauchi Central) informed the panel that Kyari and other relevant officials were expected to attend the next hearing, adding that communication gaps between the committee and the NNPCL were being resolved.
At the centre of the investigation is the disputed N210 trillion allegedly identified in the company’s audited financial statements.
Wadada disclosed that N103 trillion of the amount was recorded as accrued expenses without proper details or itemisation.
According to him, the NNPCL claimed the figure represented payments to Joint Venture partners under cash call arrangements, an explanation the committee rejected on the grounds that the cash call regime had been abolished in 2016.
“That explanation is inconsistent with their own audited statements,” Wadada said.
The committee also queried another N107 trillion classified as receivables, 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,” the chairman added.
The committee reiterated its determination to conclude the probe and directed that both former and current NNPCL management officials, including Kyari, must appear at the next hearing scheduled for two weeks’ time.
