Nigeria’s Senate has summoned the immediate past Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, over an alleged ₦210 trillion expenditure by the national oil company between 2017 and 2023 that lawmakers say has not been properly accounted for.
Also invited to appear before the Senate probe panel are the former Chief Financial Officer, Umar Isa, and the former Group General Manager of the National Petroleum Investment Management Services (NAPIMS), Bala Wunti.
📊 Senate Demands Explanation
The Senate committee investigating the matter warned that it may issue warrants of arrest if the former management officials fail to honour the invitation when the hearing date is announced.
Lawmakers are seeking detailed explanations regarding the massive financial outflows recorded during the six-year period, which they claim lack sufficient accountability documentation.
💰 ₦5 Billion Name Change Controversy
The committee also raised concerns over reports that about ₦5 billion was spent to rebrand the defunct Nigerian National Petroleum Corporation into NNPC Limited.
Senators questioned the justification for such a large amount being used for the transition and name change process, describing it as an expenditure that requires full public explanation.
⚖️ Growing Scrutiny of Nigeria’s Oil Sector
The probe forms part of a broader effort by lawmakers to strengthen transparency and accountability in Nigeria’s oil industry, which remains the country’s largest source of revenue.
Observers say the outcome of the investigation could have major implications for financial oversight within the petroleum sector.
More details are expected as the Senate committee proceeds with the investigation.
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