Senate Cracks Down on NNPCL Audit Probe, Orders Kyari’s Arrest Over Alleged ₦210tn Discrepancies …Ex-CFO Ajiya insists no money is missing, says figure exceeds NNPCL’s total revenue

The Senate Committee on Public Accounts on Wednesday ordered the arrest of former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, for failing to honour invitations to appear before lawmakers investigating alleged financial discrepancies amounting to ₦210 trillion in the company’s accounts between 2017 and 2023.

The directive followed a tense session of the committee, where lawmakers expressed dissatisfaction over Kyari’s absence from an ongoing probe into 19 audit queries raised by the Office of the Auditor-General for the Federation against the national oil company.

The committee’s decision came despite appeals from Senators Saliu Mustapha (Kwara Central) and Tony Nwoye (Anambra North), who informed members that Kyari was reportedly undergoing medical treatment in Germany and should be given another opportunity to appear before the panel.

Their plea was rejected by several committee members, who argued that no documentary evidence had been presented to support the claim.

Senator Abdul Ningi (Bauchi Central) insisted that the committee could not rely on verbal explanations regarding the former NNPCL boss’s health status, while Senator Victor Umeh (Anambra Central) moved a motion for the issuance of a warrant of arrest.

Seconding the motion, Deputy Chairman of the Committee, Senator Peter Nwaebonyi (Ebonyi North), said the panel had exhausted its patience after multiple failed attempts to secure Kyari’s appearance.

“This is the ninth time this committee is meeting on the 19 audit queries raised against NNPC by the Auditor-General. The time has come for decisive action. We must conclude this assignment and report back to the Senate,” Nwaebonyi said.

Following a voice vote, Committee Chairman Senator Ibrahim Dankwambo (Gombe North) directed that Kyari be compelled to appear before the committee.

“Anywhere Mele Kyari is, he should be arrested and brought before this committee,” Dankwambo declared.

However, the allegation that ₦210 trillion was unaccounted for was strongly disputed by former NNPCL Chief Financial Officer, Umar Ajiya Isa, who appeared before the committee.

Ajiya described the claim as impossible, arguing that the amount being cited was nearly four times the total revenue generated by the company during the period under review.

“To be clear, if money had gone missing at NNPC during our tenure, we would not have had the courage to publish audited accounts,” he said.

According to him, NNPCL generated approximately ₦54.5 trillion in revenue between 2017 and 2023, making claims of ₦210 trillion in missing funds mathematically untenable.

“₦210 trillion is an enormous sum. NNPC’s total revenue within the period was about ₦54.5 trillion even before deducting production costs. It is impossible for ₦210 trillion to be missing or unaccounted for,” he told lawmakers.

The former CFO further argued that the existence of audited financial statements contradicted allegations of large-scale financial concealment.

He also refuted claims that ₦5.8 billion was spent to register NNPC Limited, describing the allegation as false and damaging to both the company and the country’s image.

Ajiya urged the committee to verify the matter with the Corporate Affairs Commission and the Nigeria Revenue Service, formerly the Federal Inland Revenue Service.

Warning against the consequences of unverified allegations, he said inaccurate public claims could negatively affect Nigeria’s international reputation and creditworthiness.

“Unfounded claims do real damage. They harm individuals, institutions and the nation. International rating agencies rely on public information to assess countries, and inaccurate reports can affect Nigeria’s credit rating and investment profile,” he said.

He also cited the Ajaokuta-Kaduna-Kano Gas Pipeline project, alleging that negative petitions previously submitted to Chinese authorities contributed to delays in securing about $2.5 billion in financing for the project.

Ajiya maintained that if any questions remained regarding NNPCL’s finances, relevant anti-corruption and intelligence agencies should be allowed to investigate and establish the facts.

“When people say ₦210 trillion is missing, they should be asked where it went. Agencies such as the EFCC and the Nigerian Financial Intelligence Unit should establish the facts so Nigerians can know the truth,” he added.

At the conclusion of the hearing, the committee directed Ajiya and former Chief Upstream Investment Officer, Bala Wunti, to return in two weeks with additional documents and explanations as the investigation continues.

The Senate panel is expected to submit its findings to the upper chamber upon conclusion of the probe.

This version places the arrest order at the center of the story while balancing it with Ajiya’s defence, making it stronger for newspaper publication.