The financial entries under scrutiny relate to the period when Kyari led the then Nigerian National Petroleum Corporation and its successor, NNPCL.<\/p>\n
The committee, chaired by Senator Ibrahim Dankwambo, representing Gombe North, had expressed displeasure over the former GCEO\u2019s failure to honour previous invitations, despite repeated demands for him to appear and provide explanations.\n<\/p>\n
The matter escalated after Senator Victor Umeh, representing Anambra Central, moved a motion urging the committee to take steps to secure Kyari\u2019s attendance, following concerns that his continued absence was impeding the investigation.\n<\/p>\n
The issue also generated heated exchanges among members of the committee, with Senator Adams Oshiomhole insisting that the former oil chief should personally answer questions about the company\u2019s financial records rather than delegate representatives.\n<\/p>\n
Oshiomhole had called on the panel to consider issuing an arrest warrant to compel Kyari\u2019s attendance, arguing that his position as the former head of the organisation made his personal account of the transactions necessary.\n<\/p>\n
\u201cThere are some people seeing themselves as bigger than Nigeria. This committee must have the courage and the will to deploy its powers and issue a warrant to bring Mele Kyari,\u201d Oshiomhole had said at an earlier hearing.<\/p>\n
Read also:\u00a0Can the Senate truly hold Mele Kyari accountable?<\/a><\/strong>\n<\/p>\n The former Edo State governor maintained that the committee should not allow the former management to evade accountability over financial issues arising from its tenure.\n<\/p>\n However, the Senate later clarified the procedure for compelling the attendance of individuals before its committees, explaining that a committee could not independently issue or execute an arrest warrant without following the provisions of the Legislative Houses (Powers and Privileges) Act and obtaining the approval of the Senate President.\n<\/p>\n The upper chamber also distanced itself from Oshiomhole\u2019s description of NNPCL as \u201ca bunch of criminals and thieves\u201d, saying the remarks did not represent the position of the Senate.\n<\/p>\n At the centre of the investigation are two substantial entries in NNPCL\u2019s financial records: N103 trillion classified as accrued expenses and another N107 trillion recorded as sundry receivables.<\/p>\n Together, the figures amount to N210 trillion and have raised questions among lawmakers about the nature, composition and supporting documentation for the transactions.\n<\/p>\n In its earlier explanations, NNPCL attributed the N103 trillion accrued expenses to cumulative expenditure incurred by joint venture partners under the joint venture cash call arrangement.\n<\/p>\n The company also explained that the N107 trillion in sundry receivables represented outstanding amounts allegedly owed to it by banks and other entities.\n<\/p>\n Read also:\u00a0N210trn: Senate distances itself from Kyari arrest warrant, Oshiomhole\u2019s remarks on NNPCL<\/a><\/strong>\n<\/p>\n However, the explanations did not settle the committee\u2019s concerns, as lawmakers sought a detailed account of the transactions, including the identities of the parties involved, the basis for the amounts and the supporting records.<\/p>\n Beyond the two major entries, the audit investigation also covers other aspects of the company\u2019s financial management, including deductions for production costs from crude oil proceeds and expenditure associated with the transition from the defunct Nigerian National Petroleum Corporation to the Nigerian National Petroleum Company Limited.\n<\/p>\n Kyari\u2019s appearance is expected to allow the lawmakers to seek direct clarification from the former management and establish how the disputed figures were generated, recorded and treated in the company\u2019s accounts.<\/p>\n Source: <\/p>\n Mele Kyari, former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, on Tuesday appeared before the Senate Committee on Public Accounts to answer questions over financial transactions… <\/p>\n","protected":false},"author":1,"featured_media":14522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/14521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=14521"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/14521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/14522"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=14521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=14521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=14521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Related News<\/h4>\n<\/p><\/div>\n
\n\t\t![\"Add](\"https:\/\/globalnigerianews.com\/wp-content\/uploads\/2026\/11\/N210tn-audit-queries-Kyari-finally-appears-before-Senate-panel-Businessday-NG.jpg\")
\n\t<\/a>
\n\t
\n\t\t![\"Follow](\"https:\/\/globalnigerianews.com\/wp-content\/uploads\/2026\/11\/N210tn-audit-queries-Kyari-finally-appears-before-Senate-panel-Businessday-NG-1.jpg\")
\n\t<\/a>\n<\/div>\n