The Senate Committee on Public Accounts has summoned the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, alongside former Chief Financial Officer Umar Ajia Isa and former Group General Manager of the National Petroleum Investment Management Services (NAPIMS), Dr. Bala Wunti, over an alleged N210 trillion not properly accounted for by the company between 2017 and 2023.

The committee, chaired by Senator Aliyu Wadada (Nasarawa West), issued the summons on Thursday following a review of audit queries relating to the financial records of the national oil company.

He added that the company also recorded N107 trillion as subsidy receivables and sundry debts in its audited financial statements as of December 2023, which it said were owed by various banks and other entities.

When put together, NNPCL needs to properly account for the N210 trillion,” Wadada said.

The committee also questioned the expenditure of N5 billion reportedly used to facilitate the change of the company’s name from the Nigerian National Petroleum Corporation (NNPC) to the Nigerian National Petroleum Company Limited (NNPCL).

“This, to us in the committee, is unacceptable and satisfactory explanations must be given,” Wadada said.

He further directed the Auditor-General for the Federation to conduct a forensic audit of the company’s financial statements for the period under review in line with Section 85 of the 1999 Constitution (as amended).

Despite the concerns raised, the committee reaffirmed its support for the administration of President Bola Ahmed Tinubu, noting that the government is committed to promoting transparency, accountability and probity in the management of public funds.