By Ghazali Ibrahim
The Senate Committee on Public Accounts has disclosed that only one or two of the 23 audit queries raised against the Nigerian National Petroleum Company Limited (NNPCL) directly concern former Group Chief Executive Officer, Mele Kyari, following his appearance before the panel.
The committee chairman, Senator Ibrahim Dankwambo, made the disclosure on Tuesday after Kyari submitted his explanations on financial transactions recorded during his leadership of the national oil company.
Kyari appeared before the committee to respond to questions surrounding alleged financial discrepancies amounting to ₦210 trillion in NNPCL’s audited accounts covering 2017 to 2023.
The former NNPCL chief rejected claims that the money was missing, describing the figures as accounting entries that had been misunderstood rather than evidence of financial losses.
The disputed amount comprises ₦103 trillion recorded as accrued expenses and ₦107 trillion listed as sundry receivables.
Kyari maintained that no money was lost under his leadership, insisting that the discrepancies were bookkeeping issues for which explanations had already been provided.
He also addressed the allegation that ₦5 billion was spent on changing the company’s name from the Nigerian National Petroleum Corporation to NNPCL.
According to him, no money was spent on the name change because the exercise was carried out through an act of the National Assembly.
On the approximately ₦2.99 billion questioned in connection with the company’s registration and incorporation, Kyari explained that the payment covered statutory obligations to government institutions and was made on behalf of the Federation.
Following his presentation, Dankwambo said the committee would circulate the documents among its members for examination.
He explained that the panel would determine whether further questions needed to be directed at Kyari or other former officials after reviewing the submissions.
The chairman also acknowledged Kyari’s apologies for failing to attend previous invitations.
The former NNPCL chief was subsequently discharged by the committee pending the conclusion of its investigation.
However, the development does not amount to a final clearance of the disputed transactions, as the committee is yet to conclude its examination of the audit queries.
The Senate’s investigation began after the Office of the Auditor-General for the Federation raised concerns about NNPCL’s financial records, with lawmakers demanding explanations for the transactions covering the six-year period.
