Jun 14, 2026

Oshiomhole Brands NNPCL 'House of Fraud', Accuses Senate Cover-Up

By Afolabi Olaiya Idowu in politics

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Abuja, Nigeria – June 14, 2026 — Senator Adams Oshiomhole has launched a blistering attack on the Nigerian National Petroleum Company Limited (NNPCL), describing it as “a huge house of fraud, filled with personal interests,” while accusing the Senate of attempting to cover up a massive ₦210 trillion financial scandal involving the oil giant and its former Group Chief Executive Officer, Mele Kyari.

Speaking during a Senate hearing, Oshiomhole, who chairs the Senate Committee on Public Accounts, alleged that the upper legislative chamber breached its own rules by voiding an arrest warrant issued against Kyari and distancing itself from his strong criticisms of the NNPCL.

Details of the ₦210 Trillion Allegations

The controversy stems from an ongoing investigation by Oshiomhole’s committee into the NNPCL’s audited financial statements between 2017 and 2023.

The probe, triggered by queries from the Office of the Auditor-General of the Federation, uncovered disputed entries including unaccounted receivables and accrued expenses running into approximately ₦210 trillion.

Oshiomhole insisted that the figures are drawn from the company’s official audited records and accused the NNPCL of operating as a “huge house of fraud” driven by personal interests rather than national priorities.

He argued that the Senate’s intervention was a deliberate attempt to shield the corporation and its former leadership from accountability.

Senate’s Response and Internal Rift

In a dramatic turn of events, the full Senate on Thursday voided the arrest warrant issued by the Public Accounts Committee against Mele Kyari, who had failed to honour multiple invitations to appear before lawmakers.

The Senate also publicly distanced itself from Oshiomhole’s description of NNPCL officials as “a bunch of criminals and thieves,” describing his remarks as unacceptable.

Oshiomhole fired back, stating that the Senate’s actions were “completely in breach of the rules” and suggested that some lawmakers had vested interests in protecting the status quo at the NNPCL.

Broader Implications

The allegations have reignited public outrage over transparency and accountability in Nigeria’s oil sector, which remains the backbone of the national economy.

Critics argue that the scale of the disputed figures — equivalent to a significant portion of Nigeria’s national debt — underscores long-standing concerns about mismanagement and opacity at the NNPCL.

The Senate’s decision to overrule its own committee has also raised questions about legislative independence and the willingness of the National Assembly to robustly scrutinise powerful state institutions.

As the investigation continues, with the current NNPCL leadership expected to provide further clarifications, Nigerians are watching closely to see whether the probe will yield concrete accountability or fizzle out amid political pushback.

Oshiomhole maintained that Nigerians deserve full transparency, warning that democracy without accountability is meaningless.

The development has further strained relations between the executive and legislative arms, with many observers calling for an independent forensic audit of the NNPCL’s accounts to restore public confidence.