Allegations Rock NNPCL: Kyari, Yar’Adua and 12 Others Under Investigation
Byline: IDNN Energy & Anti-Corruption Desk
The Economic and Financial Crimes Commission (EFCC) has launched a sweeping investigation into the Nigerian National Petroleum Company Limited (NNPCL), with its former Group Managing Director, Mele Kyari, and at least 13 other high-ranking officials at the center of a $2.9 billion refinery rehabilitation scandal.
The probe focuses on misappropriated funds allocated for the revamp of Nigeria’s ailing refineries — $1.56 billion for Port Harcourt, $740.6 million for Kaduna, and $656.9 million for Warri. Despite the massive cash injection, all three refineries remain comatose.
In a letter dated April 28, 2025, the EFCC demanded certified true copies of emoluments and allowances of the indicted officers, including both current and retired personnel. The agency cited “abuse of office and misappropriation of public funds” as the primary focus of its investigation.
₦80 Billion in Suspicious Accounts, Arrests Follow
One of the sacked refinery managing directors was found to have over ₦80 billion in personal bank accounts, IDNN sources revealed — a discovery that immediately triggered arrests and a broader sweep across the company’s leadership.
Among those listed by the EFCC are former GCEO Mele Kyari, ex-COO Abubakar Yar’Adua, Umar Ajiya, Isiaka Abdulrazak, Mustapha Magaji Sugungun, and a dozen other top executives whose tenures span the refineries’ financial black hole.
The Commission confirmed the investigation but declined further comment, stating only: “There are ongoing investigations into the funds released for the rehabilitation of the Kaduna, Warri and Port Harcourt refineries,” according to EFCC spokesperson Dele Oyewale.
Tinubu Cleans House, Orders Audit
President Bola Tinubu had earlier, on April 2, dissolved the NNPCL board, sacking both Mele Kyari and Chairman Pius Akinyelure, as well as all appointees from November 2023. A new 11-member board led by Engr. Bashir Ojulari (GCEO) and Ahmadu Kida (Chairman) was immediately inaugurated.
The move was followed by a directive from Finance Minister Wale Edun announcing a forensic audit of NNPCL during an address at the IMF/World Bank Spring Meetings in Washington, D.C.
“The government has begun a cleansing process,” Edun said. “The reconstitution of the NNPCL leadership and the planned forensic audit are part of a broader agenda to restore transparency, attract investment, and reposition Nigeria’s energy sector.”
NNPCL Reform: Vision vs. Reality
The Tinubu administration has laid out ambitious oil sector targets — $30 billion in investment by 2027, $60 billion by 2030, and crude production ramped to 3 million barrels per day.
But public confidence remains shaky as reports of sabotage, waste, and entrenched patronage networks continue to surface. With Kyari, once dubbed the “corporate face of Nigeria’s oil reforms,” now under the spotlight, industry observers say this probe could reshape public trust.
“This isn’t just an investigation — it’s a referendum on the Petroleum Industry Act and whether we have the courage to enforce it,” said energy analyst Maryam Abubakar.
