Senate Probes N210tn Discrepancies at NNPCL

The Nigerian Senate, led by Aliyu Wadada, Chairman of the Senate Public Accounts Committee, has summoned Mele Kyari, the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), along with other former officials, to clarify discrepancies totaling N210 trillion identified in the company's financial statements from 2017 to 2023. The Senate's investigation follows an audit report that raised concerns about the company's financial management, particularly regarding N103 trillion allegedly spent in joint ventures and N107 trillion recorded as received by the company.

Wadada expressed dissatisfaction with the explanations provided, particularly concerning the N107 trillion asset receipts. The Senate has warned of potential arrest warrants for officials who fail to appear.

The investigation aims to ensure transparency in public fund management, with the Senate dismissing claims of political motivation behind the probe.