The Attorney General of the Federation (AGF), Lateef Fagbemi (SAN), has announced the initiation of an investigation into Mele Kyari, the former Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), following serious allegations involving a $2 billion crude-for-loan deal. This investigation is in response to protests and growing public concern over a reported debt owed by NNPCL to Matrix Energy Limited, which was allegedly serviced through daily crude oil allocations that remain unpaid.
The controversy has sparked widespread protests, with a group of lawyers, calling themselves the Guardians of Democracy and Rule of Law, petitioning the AGF’s office in Abuja. The lawyers are demanding a full review of all agreements signed by NNPCL during Kyari’s tenure, particularly those related to crude oil allocations. They have also called for the establishment of a commission of inquiry to examine the handling of the repairs of Nigeria’s refineries, including the Port Harcourt Refinery, due to concerns over discrepancies in reported expenditures.
The petitioners argue that the investigation is necessary to identify any misappropriated funds and to prevent further financial mismanagement in the future. In response to the growing pressure, the AGF assured the public that the allegations would be thoroughly examined. He emphasized the government’s commitment to ensuring transparency and accountability in the management of public resources, warning that any wrongdoing uncovered during the investigation would be met with appropriate legal action.
This investigation is seen as a significant step toward addressing concerns surrounding the alleged crude-for-loan deal and the broader issues of governance within Nigeria’s oil sector. As the probe unfolds, Nigerians are keenly watching the outcome, with expectations for greater accountability and potential reforms in the oil industry’s management practices.
