The Senate has, through its Committee on Public Accounts, has ordered the arrest of the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, for failing to appear before it over alleged unaccounted N210 trillion between 2017 and 2023.
However, former Chief Financial Officer of NNPCL, Umar Ajiya Isa, dismissed the allegation, insisting that no funds were missing and describing the figure as inconsistent with the company’s actual revenue profile.
The warrant of arrest followed Kyari’s absence at an investigative hearing on the alleged unaccounted funds.
Senators Saliu Mustapha (Kwara Central) and Tony Nwoye (Anambra North) appealed for another opportunity for Kyari to appear, saying he was reportedly ill in Germany.
But other committee members opposed the request, insisting on enforcement action.
Senator Abdul Ningi (Bauchi Central) argued that “verbal claims of illness were insufficient without documented proof, while Senator Victor Umeh (Anambra Central) moved a motion for a warrant of arrest.”
Seconding the motion, Deputy Chairman Senator Peter Nwaebonyi (Ebonyi North) described further delay as a “wild goose chase.”
The committee chairman, Senator Ibrahim Dankwabo (Gombe North), thereafter put the motion to a voice vote, which was affirmed by members, and declared that Kyari should be arrested and brought before the committee.
Ajiya, however, faulted the claim of unaccounted funds, insisting that “the N210 trillion figure was unrealistic when compared with NNPCL’s revenue within the period.”
He said “the company’s total revenue was about N54.5 trillion” and argued that it was impossible for such an amount to be missing.
He also dismissed claims that N5.8 billion was used to register NNPCL, describing them as false and damaging, and urged verification from the Corporate Affairs Commission and the Federal Inland Revenue Service (now Nigeria Revenue Service).
Ajiya warned that unverified allegations could damage Nigeria’s reputation and affect investor confidence, adding that international rating agencies rely on public disclosures.
He also cited past disruptions to major projects due to misinformation, including financing for the Ajaokuta-Kaduna-Kano gas pipeline.
The committee directed Ajiya and former Chief Upstream Investment Officer, Bala Wunti, to reappear before it in two weeks.
