Nigeria’s former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has appeared before the Senate Committee on Public Accounts to respond to questions surrounding alleged financial irregularities amounting to ₦210 trillion during his tenure.
Kyari appeared before the committee in Abuja on Tuesday, November 10, 2026, where he rejected claims that the money had gone missing under his leadership. He explained that the figure being investigated was linked to accounting entries, accrued expenses and outstanding receivables rather than actual funds lost by the national oil company.
According to his explanation, approximately ₦103 trillion represented accrued expenses, while another ₦107 trillion was recorded as receivables covering the period between 2017 and 2023.
He maintained that the figures had been misunderstood and insisted that no ₦210 trillion was stolen or lost during his leadership of the company between 2019 and 2025.
The former NNPCL chief also addressed questions surrounding a separate ₦2.99 billion payment connected tothe company’s incorporation, explaining that the money covered statutory fees paid to relevant government agencies.
The Senate committee had previously raised concerns about the company’s financial records following observations by the Auditor-General and requested explanations from former management officials.
During Tuesday’s appearance, Kyari also apologised for failing to honour some previous invitations, attributing his absence to medical and family-related circumstances.
The committee is expected to examine his explanations and determine whether the financial records adequately account for the transactions under investigation.
The development has renewed public attention on financial accountability in Nigeria’s petroleum sector, particularly the management of public resources by government-owned institutions.
The Senate’s investigation is part of broader efforts to establish transparency in NNPCL’s financial operations and determine whether any public funds were mismanaged.
