In Nigeria, Mele Kyari denies any misappropriation of N210 trillion
By the AFREEQUE newsroom, based on Vanguard
Former NNPCL head Mele Kyari told the Senate that nothing was lost under his leadership. He says the N210 trillion cited in the 2017-2023 audit reflects accounting entries rather than financial losses, according to Vanguard.
Mele Kyari, former group chief executive of the Nigerian National Petroleum Company Limited (NNPCL), the state-owned oil company, told the Senate Committee on Public Accounts on Tuesday that nothing was lost under his leadership. He argues that the N210 trillion cited in the 2017-2023 audit report corresponds to accounting entries and not financial losses. The committee is chaired by Senator Ibrahim Dankwambo (PDP, Gombe North).
He also denied that N5 billion was spent on changing the name of NNPC to NNPCL, and explained that the payment of about N2.99 billion for the company’s registration had been made by NNPC on behalf of the Federation, then charged to federal revenues. He defended his record, saying that in 2018, before he took over as group chief executive in 2019, the company posted a loss of about N803 billion, and that his management delivered sustained profits for the first time in its 44-year history.
