The Senate Public Accounts Committee has summoned the immediate past Group Managing Director and Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari.
The Committee is also seeking a refund of ₦210 trillion for irregular financial records between 2017 and 2023.
Chairman of the committee, Aliyu Wadada, disclosed the findings at a press briefing. He said that the company failed to clarify ₦103 trillion in accrued expenses and ₦107 trillion in sundry receivables.
The committee also flagged duplicated subsidy costs, inflated production expenses, and ₦5.9 billion spent just to change the company’s name, actions they deemed unacceptable.
The committee, therefore, resolved to summon past and present NNPCL and NAPIMS management, as well as their auditors, to explain the discrepancies.
It also directed the Auditor-General to conduct a forensic audit of the company’s accounts to ensure transparency and proper management of public funds.
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