Ex-NNPC Face Sente Committee On Public Account Over Miss Appropriation Of Fund

Mele Kiari, do solemnly affirm that the evidence I shall give before this distinguished committee shall be the truth, the whole truth, and nothing but the truth. That the submission I shall make to this committee, including all documents and annexures, are factual, genuine, and reliable. So help me God. Mr. Chairman, I... I would like to just note that it is an enormous honor and privilege to sit before this committee, and I also know very clearly that my absence during the previous sittings has led to a number of misunderstandings and ...and misinformation outside, not within this committee, but outside in the public space. And I sincerely regret that I was unable to be with you during those hearings and it was unavoidable. I was medically indisposed, including some other family issues associated with medical situation. And I also know, Mr Chairman, just like Comrade Excellency Adam Sosamale has said, you know, he also knows that we have been in the trenches with him for many years. I was also called comrade, and I still am, and we share a number of social views about how this country can be a good place for all of us, a better place for all of us. Comrade or comrade-like. I'm bitching. Yes, Mr. Chairman, I've known Mr. Adam Sancho for a very long time, and we share very, very common views about this country and what this country can do. And I must use this opportunity also to say that as the CEO, as the GM of NNPC, and subsequently as the group chief executive officer of the company that this National Assembly established by virtue of the provision of the PIA, I remember, Mr. Chairman, the NNPC Limited was named And produced by this National Assembly, by virtue of the provision of the federal industry, but we merely acted to act on the decisions of the National Assembly and our country. Mr. Chairman, I would like to also emphasize that when I took responsibility in 2019, the first thing I did was to institute a transparency and accountability framework. I know. that the public institutions and public leadership must account for what they are responsible before them and institutions must be responsible to its stakeholders particularly its shareholders in the case of NNPC all Nigerians are shareholders of this company and I understood this and we took the bold decision to publish the financial records of this company that was never done in its 43 years of existence we knew me and my team knew the danger of doing this disclosure causes issues it produces scrutiny and comments, but it also worked to our advantage. Because of those decisions that we made to make our records public since 2018 accounts, up to the time that I left the company, we have seen sustained public discourse. Scrutiny and sometimes even recommendations which help us in improving the lot of the company. And it did work, Mr. Chairman. During that period, because of the accountability that we took as our key fulcrum of activity, we saw sustained growth in the company. Sustained growth in responsibility, producing cost-saving measures on the back of the recommendations and discussions that the public has given us and the definite decisions that we made ourselves. And it led to significant changes in the fortunes of the economy. Mr. Chairman, I'm sure you may be aware from the financial records that you must have seen that this company fostered $803 billion loss in 2018. And of course, I took over in 2019 and we did everything possible until it became a positive company and making sustained profits as a company in its 44 years that it did not do. And I'm sure the trajectory is now continuing, and I've seen very beautiful numbers coming out of our company. The current management has done everything to sustain those platforms that we established on the basis of the law, and we are seeing the growth that the company is having. And we are very proud of this because this is what a public institution should serve. It didn't stop at that, Mr. Chairman. Thank you very much. This committee, to be very specific, is one of the constitutional committees that I'm aware of. And that public scrutiny means everything, and there's a response to the rest of this committee. On the basis of that, Mr. Chairman, we did everything possible to... Implement all the decisions of the National Assembly, including a free market environment for petroleum products, I mean, the subsidy regime and so on and so forth that we have to support because these are all decisions of the state and the federal government and it did work for our advantage. The ultimate result is seeing sustained investments in our country, in the oil and gas sector during our term. Substantial gas projects that are now opening up a lot of opportunities in our country and also deepening the downstream sector. The committee has been conducting a legislative inquiry into the audited financial statement and financial operations of NNPC for the financial year 2021-2022-2023 With a view to examining the company's financial record, Operational activities, compliance, relevant financial and statutory requirements. In the course of the inquiry, former GMD, GCEO of NNPCCL was invited to appear before the committee to provide explanations and clarifications on issues arising from the examination of the company's audited financial statement and financial operations. At the last sitting of the committee, On the matter held on Wednesday, the 10th of June, 2026, the former GMD, through a letter addressed to the committee, indicated that he was indisposed, consequently unable to attend the scheduled meeting. He accordingly requested that the engagement be rescheduled, assuring the committee of his willingness to appear to honor the invitation and provide necessary explanations. and clarifications to the issues under consideration. Consequently, the former GMD is scheduled to appear before the committee today, 10th of November, 2026, to honour the invitation and provide explanations and clarifications on matter related to the audited financial statement. His presence presents an opportunity for the committee to engage directly with him on issues identified during the inquiry. and obtain necessary explanations. Members are therefore invited to utilize this engagement and also for more clarification. As you know, the last time that he was supposed to appear, he sent his lawyer to come here and the committee issued the report to his lawyer by the rules and procedures of our committees. When you collect a report that is forwarded to you, You are supposed to go and read the report. react in writing, submit or lay the report before the committee, the report then will be circulated to members of the committee. And if members of the committee are satisfied with the report, then the committee will consider the report. If members are not satisfied, we will have to invite him individually or severally with other people. to come and explain matters that are contained in the report. today the GMD is here to submit his response to this committee's report. And before he submits the report, we want the GMD to give us a brief of what is contained in the report. Welcome GMD and your team. And before we proceed, I would want the secretariat to administer the oath. Then he can proceed and introduce members of his committee, his team, and then proceed from there.