Kyari made the clarification while appearing before the Senate Committee on Public Accounts, which is investigating queries raised by the Office of the Auditor-General of the Federation concerning NNPCL’s audited financial statements covering 2017 to 2023.
The disputed ₦210 trillion comprises ₦103 trillion recorded as accrued expenses and ₦107 trillion classified as sundry receivables.
The Senate committee began investigating the figures in June 2025 but has repeatedly expressed dissatisfaction with NNPCL’s explanations, demanding proper clarification of the financial entries.
Defending his record, Kyari maintained that no funds were missing under his leadership. He also stated that the company had made efforts to implement resolutions of the National Assembly, which he said helped sustain investments and support the development of Nigeria’s downstream petroleum sector.
“I am very proud that we have served this company in the best way possible. I remain loyal to this country and have done nothing deliberately for wrongdoing,” he told the committee.
Addressing questions surrounding payments made to the Federal Inland Revenue Service (FIRS), the former NNPCL boss explained that the transactions were related to registration and described the discrepancies as problems with how the payments were captured in the company’s records.
He also clarified that the ₦2.9 billion under scrutiny represented statutory payments.
Kyari further dismissed allegations that NNPCL spent ₦5 billion on changing its name, insisting that the name change was carried out by the National Assembly and that the company did not incur any expenses for the exercise.
Following his presentation, the committee chairman disclosed that the panel was examining 23 issues, with only one or two directly concerning the former NNPCL chief.
He explained that the committee would review Kyari’s submissions and could invite relevant individuals, including the Auditor-General of the Federation, if further clarification became necessary.
“We accept your apologies for not appearing at the previous sittings and we will look at the figures,” the chairman stated.
Kyari was subsequently excused from the proceedings, although the committee’s investigation remains ongoing.
The Senate panel had summoned Kyari and other former NNPCL officials in March 2026 and reportedly ordered his arrest in June after he failed to honour its invitation.
Meanwhile, other former officials of the national oil company have also rejected claims that ₦210 trillion went missing, maintaining that the controversy arose from an incorrect interpretation of figures contained in the company’s financial statements.
