The Digest:
The Senate has summoned former NNPC Group Chief Executive Officer Mele Kyari, along with two other officials, over an alleged N210 trillion expenditure by the national oil company between 2017 and 2023 that lawmakers say has not been properly accounted for. Senator Aliyu Wadada, chairman of the committee, announced that former CFO Umar Isa and former NAPIMS GGM Bala Wunti are also summoned. The committee threatened arrest warrants if they fail to appear. The panel questioned why NNPC allegedly spent about N5 billion on the name change from NNPC to NNPCL. Wadada stated that NNPCL must account for N103 trillion in Joint Venture cash calls and N107 trillion in sundry receivables recorded as of December 2023. The committee called for a forensic audit by the Auditor-General and demanded that the current management, led by Bayo Ojulari, produce the former officials and external auditors who served during the period.
Key Points:
- The N210 trillion figure represents an astronomical sum requiring urgent accountability.
- The N5 billion name change expenditure is under scrutiny for justification.
- The committee's threat of arrest warrants signals seriousness.
- The forensic audit demand aims to get to the bottom of the figures.
- The probe involves both past and present NNPC leadership.
Sources: Punch, Vanguard
