The Economic and Financial Crimes Commission (EFCC) has launched a formal investigation into allegations of abuse of office and misappropriation of funds involving former senior officials of NNPC Ltd, including former Group Chief Executive Officer Mele Kyari and former Chief Financial Officer Abubakar Yar’Adua.
Scope of the Investigation
In a letter dated April 28, 2025, addressed to the Group Managing Director of NNPC Towers, the EFCC requested certified true copies of emoluments and allowances for 14 current and former NNPC executives. The letter (ref: CR:3000/EFCC/ABJ/HQ/SDC.2/NNPC/VOL.1/698) signals an intensifying inquiry into the spending patterns and decision-making practices of the former leadership.
Among those named are:
- Mele Kolo Kyari – Former GCEO
- Abubakar Lawal Yar’Adua – Former CFO
- Umar Ajiya, Isiaka Abdulrazak, Ibrahim Onoja, Mustapha Magaji Sugungun, Dikko Ahmed, and others tied to NNPC subsidiaries
The probe is centered on the $2.896 billion allocated during their tenure for refinery rehabilitation projects:
- $1.56 billion – Port Harcourt Refinery
- $740.6 million – Kaduna Refinery
- $656.9 million – Warri Refinery
High-Level Changes and Forensic Audit
This move follows recent shakeups, including the removal of the managing directors of the three refineries and the dissolution of the NNPC board by President Bola Tinubu in April. The president subsequently appointed Bayo Ojulari as Group CEO and Ahmadu Kida as board chairman as part of an ongoing reform effort.
Simultaneously, Finance Minister Wale Edun confirmed at the World Bank/IMF Spring Meetings that a forensic audit of NNPC is ongoing, stating:“The NNPC needs to come to the table with more dollar revenue.”
EFCC Stance
While EFCC spokesperson Dele Oyewale acknowledged the probe, he declined to provide additional details at this stage, citing ongoing investigative procedures.
