The Nigerian Senate Committee on Public Accounts has summoned the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited NNPCL Mele Kyari along with former Chief Financial Officer Umar Ajia Isa and former Group General Manager of National Petroleum Investment Management Services NAPIMS Dr Bala Wunti. This action stems from serious allegations of financial discrepancies totaling N210 trillion in NNPCLs audited financial statements covering the period from 2017 to 2023.

The committee chaired by Senator Aliyu Wadada announced the summons following a review of audit reports from the Office of the Auditor General which highlighted unexplained figures including N103 trillion in accrued expenses related to joint venture cash calls and N107 trillion in sundry receivables and subsidy related debts. These amounts according to the panel were not properly accounted for or explained by the company despite previous submissions.

The resolutions passed by the committee include a directive for NNPCL to refund the full N210 trillion if satisfactory clarifications are not provided. Additionally the panel demands that past and present management of NNPCL and NAPIMS appear before it accompanied by external auditors from the relevant period to provide verifiable explanations. The committee has warned that failure to comply with the summons could lead to the issuance of warrants of arrest underscoring the gravity of the probe into potential financial irregularities during the tenure under review.

This development comes amid ongoing scrutiny of Nigerias oil sector governance and transparency especially as NNPCL operates as a commercial entity post the Petroleum Industry Act. Stakeholders view the inquiry as critical to ensuring accountability in the management of national oil revenues which remain a cornerstone of Nigerias economy.