NIGERIA: Mele Kyari Explains Disputed ₦210 Trillion in NNPCL Financial Records Before Senate
Former NNPCL boss Mele Kyari has challenged claims of ₦210 trillion in unexplained financial transactions, telling lawmakers that the figures reflect accounting discrepancies rather than missing public funds.
Abuja, Nigeria — The former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has appeared before the Senate to address questions surrounding alleged financial irregularities in the company's accounts.
During his appearance before the Senate Committee on Public Accounts, Kyari disputed concerns raised in an audit report over ₦210 trillion in financial records. He maintained that the figures resulted from accounting and bookkeeping differences and should not be interpreted as evidence of missing money or financial losses.
The former petroleum executive also provided an explanation concerning the reported ₦5 billion expenditure associated with the transition from the Nigerian National Petroleum Corporation (NNPC) to its successor, NNPCL.
He clarified that the amount reflected in the records was ₦2.9 billion, which, according to him, was paid on behalf of the Federation to relevant government institutions.
In defending his record in office, Kyari told the lawmakers that the restructuring of NNPC under his leadership helped move the organisation from years of financial losses to sustained profitability. He described the achievement as a major milestone in the company's 44-year history.
However, the Senate Committee on Public Accounts is continuing its examination of the matter. Its chairman, Senator Ibrahim Dankwambo, said the submitted documents would undergo detailed scrutiny to establish the facts and obtain further explanations where necessary.
The review is expected to provide greater clarity on the disputed financial entries and the management of public resources within the national oil company.
