The Senate Committee on Public Accounts has directed security agencies to arrest ex-NNPCL Group CEO Mele Kyari for repeatedly ignoring summons tied to a legislative probe into the company’s finances.

Senator Aliyu Wadada, who chairs the panel, said the directive came after Kyari failed to honour multiple invitations to explain audit discrepancies covering 2017 to 2023.

Lawmakers are querying a combined N210 trillion flagged in NNPCL’s financial statements. The amount is split into two: N103 trillion booked under “accrued expenses” for items like retention and legal fees, and N107 trillion captured as “sundry receivables” as at December 2023.

The committee rejected NNPCL’s response to 19 questions sent to management. One key issue was Kyari’s claim that the N103 trillion represented joint venture cash calls. Senators dismissed it, pointing out that the JV cash call system was scrapped since January 2017.

Wadada said Kyari must appear with the current GCEO Bayo Ojulari, ex-CFO Umar Ajia Isa, ex-NAPIMS head Bala Wunti, and external auditors from the period in question. If they shun the new date, the panel will activate an arrest warrant.

He clarified that the investigation is not charging anyone with stealing. “We’re only demanding transparency and proper documentation of public funds,” Wadada stated. The committee also asked NNPCL to return the N210 trillion to government coffers if it cannot justify the entries, and to stop charging crude production costs since NNPCL doesn’t directly lift oil.

Sources: Punch online,Vanguard, Daily Trust.