The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), seeking full disclosure and accountability over an alleged ₦5.9 billion spent on the company’s rebranding and transition process. According to SERAP, the funds were reportedly spent during the transformation of the Nigerian National Petroleum Company (NNPC)…
The Senate has distanced itself from a reported move by its Committee on Public Accounts to issue a warrant of arrest against former Nigerian National Petroleum Company Limited (NNPCL) Group Chief Executive Officer, Mele Kyari, over allegations linked to an ongoing N210 trillion audit query. The upper legislative chamber also strongly disowned comments made by Senator…
The Senate Committee on Public Accounts has ordered the arrest of former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over his failure to appear before the committee investigating allegations of an unaccounted ₦210 trillion between 2017 and 2023. The decision was reached during an investigative hearing after Kyari…
ABUJA — The Nigerian National Petroleum Company Limited (NNPC Limited) has announced the remittance of ₦2.888 trillion to the Federation Account for the first quarter of 2026, covering January to March. According to its Monthly Financial and Operational Report for March 2026, the company also recorded a Profit After Tax of ₦276 billion, representing a…
The Senate, through its Committee on Public Accounts, has issued a final deadline of April 29 for the Nigerian National Petroleum Company Limited to account for N210 trillion flagged in audit reports covering 2017 to 2023. The committee directed the company’s Group Chief Executive Officer, Bayo Ojulari, to appear alongside former GCEO Mele Kyari, as well as other key…
The Senate Committee on Public Accounts has expressed dissatisfaction with explanations provided by the leadership of the Nigerian National Petroleum Company Limited regarding alleged ₦210 trillion discrepancies in the company’s financial records. Senator Aliyu Wadada, representing Nasarawa West in the 10th National Assembly, said the NNPCL management, led by Group CEO Bayo Ojulari, failed to…
Dangote Industries Limited (DIL) and the Nigerian National Petroleum Company Limited (NNPCL) have signed an enhanced gas supply agreement aimed at guaranteeing adequate energy supply for Dangote Group’s ongoing and future expansion projects. Under the agreement, three Dangote subsidiaries—Dangote Petroleum Refinery, Dangote Fertiliser Plant, and Dangote Cement Plc—scaled up their Gas Sales and Purchase Agreements…
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) over what it calls the “failure to account for allegedly missing or diverted oil revenues” totaling ₦22.3 billion, $49.7 million, £14.3 million, and €5.2 million. Background of the Case According to SERAP Deputy Director, Kolawole Oluwadare,…
The Federal High Court in Abuja has ordered the interim forfeiture of N30.7 million to the Federal Government in connection with an ongoing investigation into alleged fraudulent activities involving officials of the Nigerian National Petroleum Company Limited (NNPCL). Justice Emeka Nwite issued the order on Monday after granting an ex-parte application filed by the Economic…
The Senate has dismissed the explanations offered by the Nigerian National Petroleum Company Limited (NNPCL) regarding the ₦210 trillion reportedly unaccounted for by the oil firm. At its sitting on Wednesday, the upper chamber concluded that the funds must be refunded to the Federation Account, describing the company’s responses as unsatisfactory and inconsistent. The Senate…
