A massive financial controversy is shaking Nigeria’s oil sector after the Senate summoned former NNPC boss Mele Kyari to explain an alleged ₦210 trillion expenditure gap linked to the national oil company. Watch What Happened.
The shocking figure has left many Nigerians asking one burning question: Where did all the money go?
According to reports, the investigation focuses on financial records from 2017 to 2023 at the Nigerian National Petroleum Company Limited. Lawmakers say several huge transactions were not properly explained, raising serious concerns about accountability in one of Nigeria’s most powerful institutions.
The Senate Public Accounts Committee, led by Aliyu Wadada, also summoned other former top officials including ex-Chief Financial Officer Umar Isa and former NAPIMS boss Bala Wunti.
Lawmakers warned that if the officials fail to appear before the committee, warrants of arrest may be issued.
One issue that sparked outrage was a reported ₦5 billion spent to change the company’s name from Nigerian National Petroleum Corporation to its current form as a limited liability company. Senators described the cost as “unacceptable” and demanded a detailed explanation.
Even more worrying, the Senate says the oil giant must also clarify ₦103 trillion recorded as Joint Venture cash calls and ₦107 trillion listed as sundry receivables.
The committee has now ordered the Auditor General of the Federation to carry out a forensic audit of the company’s financial records.
While lawmakers say they support the transparency agenda of Bola Ahmed Tinubu, they insist that every kobo of public money must be properly accounted for.
Now Nigerians are watching closely as this high-stakes investigation unfolds.
What do you think about this shocking ₦210 trillion allegation?
Should former officials be held fully accountable?
Drop your opinion in the comment section.
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— Reported by Naijaonpoint Global Desk
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