The Nigerian Senate has taken a decisive step in its scrutiny of the national oil company's finances, issuing a direct summons to its former top management. The Senate Committee on Public Accounts has called for the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, to appear before it.

He is summoned alongside former Chief Financial Officer Umar Ajia Isa and former Group General Manager of the National Petroleum Investment Management Services (NAPIMS), Dr. Bala Wunti. They are to answer for 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 after a detailed review of audit queries related to the NNPCL's financial records over the six-year period. Senator Wadada stated unequivocally that the committee would issue a warrant of arrest against the former management team if they fail to appear on a date to be communicated.

A Comprehensive Investigation

In a significant development, the former officials are expected to appear before the committee alongside the current management of NNPCL, led by Group Chief Executive Officer Engr. Bayo Ojulari. Also summoned are the external auditors who served the company during the period under review, signaling a comprehensive, no-stone-unturned investigation.

Reading the committee’s resolutions, Wadada said the panel had directed the NNPCL to account for the combined sum of N210 trillion. This staggering figure comprises two specific amounts identified in audit reports: N103 trillion and N107 trillion.

Context: Accountability Amidst Sector Revival

This high-stakes financial probe unfolds against the backdrop of a major breakthrough in Nigeria's energy sector. Separately on Thursday, President Bola Tinubu announced the successful conclusion of a settlement agreement in a long-running oil sector dispute, highlighting the nation's dual challenge: enforcing rigorous fiscal oversight while working to revive its most critical economic engine.

The N210 trillion probe represents one of the largest single financial accountability actions in Nigeria's legislative history and will be a critical test of the Senate's power to demand answers on the management of the country's oil wealth.