No N210tn missing in NNPC, says ex-GCEO Kyari
Former NNPC GCEO, Mele Kyari, has denied allegations that N210tn is missing, telling a Senate committee that audit discrepancies were accounting entries. Read More: https://punchng.com/no-n210tn-missing-in-nnpc-says-ex-gceo-kyari/
Mele Kyari, the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), has refuted allegations of missing N210tn in the company's financial records. Kyari, testifying before the Senate Committee on Public Accounts, stated that the discrepancies found in the 2017–2023 audit reports were accounting entries and not evidence of financial losses.
He emphasized that no money was lost during his tenure, from 2019 to 2025, and that the issues were due to bookkeeping problems. Kyari also addressed the cost of renaming NNPC from the Nigerian National Petroleum Corporation to NNPC Limited, stating that the N5bn expense was an accounting entry, not a financial outlay. He clarified that the payment was initially made by the company on behalf of the Federation and later charged to the government's revenue account.
Kyari defended his leadership, noting that NNPC shifted from a loss-making status to a profitable one during his time in charge.
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- No N210tn missing in NNPC, says ex-GCEO Kyari punchng.com
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