The Senate Committee on Public Accounts has taken a drastic regulatory stance by issuing an immediate warrant of arrest against the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari.
The legislative directive, issued during an intense oversight hearing on Wednesday, June 10, 2026, followed Kyari’s repeated failure to appear before the parliamentary panel to answer critical queries raised by the Office of the Auditor-General of the Federation regarding a staggering N210 trillion in allegedly unaccounted corporate funds between 2017 and 2023.
While lawmakers like Saliu Mustapha and Tony Nwoye pleaded for administrative leniency, stating that the ex-oil chief was currently undergoing medical treatment in Germany, the committee overwhelmingly backed a motion for arrest formally moved by Senator Victor Umeh and seconded by Deputy Chairman Peter Nwaebonyi, with Senator Adams Oshiomhole declaring that the law must catch the "lions" of society.
Recommended for You
Loading stories...
In a fierce defensive presentation before the panel, the former Chief Financial Officer of the NNPCL, Malam Umar Ajiya Isa, forcefully challenged the validity of the audit query, labeling the N210 trillion figure as fundamentally misleading and mathematically impossible.
Isa detailed that the NNPCL's aggregate gross revenue for the entire six-year period under review sat at approximately N54.5 trillion before production deductions, making assertions of a N210 trillion deficit entirely absurd.
Backing his executive integrity, Isa reminded lawmakers that under their leadership, the state oil firm broke a 40-year secrecy jinx by consistently publishing fully audited financial accounts.
He warned that unverified, astronomical fraud claims severely damage Nigeria’s sovereign credit ratings, citing a historical incident where a baseless petition to Chinese lenders disrupted $2.5 billion in sovereign-guaranteed financing for the vital Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline.
The Committee Chairman, Senator Ibrahim Dankwambo, has ordered Isa and former Chief Upstream Investment Officer Bala Wunti to reappear within two weeks for further cross-examination.
#MeleKyari #SenateArrestWarrant #NNPCL #IbrahimDankwambo #UmarAjiyaIsa #VictorUmeh #AdamsOshiomhole #NationalAssembly
Latest News
Loading...
Published by Qubes Magazine
Founder & Editor-in-Chief: Okwudili Onyido
Stay informed and ahead with breaking news, entertainment, and exclusive updates from Qubes Magazine—your trusted source for digital journalism.
Contact: info@qubesmagazine.com.ng
© 2026 Qubes Magazine. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten, or redistributed in whole or in part without prior express written permission from the publisher.
Post a Comment