KYARI DENIES ₦210TRN MISSING FUNDS ALLEGATION, DEFENDS NNPCL RECORD BEFORE SENATE
By: Safiya Abdulrahim Dabban
Former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has denied allegations of ₦210 trillion in unaccounted funds raised in the company’s 2017–2023 audit report.
Kyari made the clarification while appearing before the Senate Committee on Public Accounts, where he maintained that no funds were missing during his leadership of the national oil company between 2019 and 2025.
He explained that the disputed figures were accounting entries and bookkeeping issues rather than evidence of financial loss. He also dismissed claims that ₦5 billion was spent on changing the company’s name from NNPC to NNPCL, describing the allegation as incorrect.
The former NNPCL chief further defended his record, stating that reforms introduced during his tenure transformed the company from a loss-making organisation into a profitable entity.
Responding to his submissions, the Chairman of the Senate Committee on Public Accounts, Senator Hassan Dankwambo, said the committee would examine the explanations and supporting documents before deciding on the next course of action.
He added that the committee could invite Kyari again if further clarification was required.