Senate Summons NNPCL Executives Over ₦210 Trillion Spending

The Nigerian Senate has summoned former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, and former Chief Financial Officer Umar Isa, along with other former executives, to account for an alleged ₦210 trillion expenditure from 2017 to 2023. The Senate committee, led by Chairman Aliyu Wadada, expressed dissatisfaction with the company's financial accountability and threatened to issue arrest warrants against those who fail to appear.

The committee's resolution followed a meeting on March 5, where they questioned the company's reported ₦5 billion expenditure on a rebranding exercise. The committee directed the former management team and the current Group Chief Executive Officer, Bayo Ojulari, to provide detailed explanations regarding the funds and highlighted the need for a forensic review of the company's financial statements.

The committee noted that the NNPCL had not satisfactorily answered 19 questions raised about its audit report, which included claims of ₦103 trillion in cumulative expenditures related to joint venture cash calls.