Samson Echenim 
Indications have emerged regarding the real reasons the Economic and Financial Crimes Commission (EFCC) has launched a probe into the former Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari and 13 others.
An EFCC interrogatory correspondence dated April 28, 2025, and seen by The Nigerian Economy had indicated that the officials were being investigated over allegations of corruption and misappropriation of funds.
However, a more detailed revelation over the EFCC’s move was received by The Nigerian Economy from a source who is competent in the matter.
The source cited “inappropriate subsidy claims by the NNPCL under Kyari from June 2023 to July 2024, despite removal of fuel subsidy by the President Bola Tinubu administration effective June 2023.”
“We expect the probe to reveal mind-boggling incidents under Mele Kyari’s NNPC,” the source enthused.
The Nigerian Economy recalls that Nigerians were thrown into shock in November, 2024 when reports revealed that the NNPCL claimed N5.31 trillion fuel subsidy payments between June 2023 and July 2024.
These claims, the NNPCL said were exchange rate differentials.
The state-owned company in November 2024, requested an additional subsidy refund of N1.19 trillion for July 2024, citing exchange rate differentials on Premium Motor Spirit (fuel) importation and joint venture taxes.
This difference in cost, which ordinarily should be reflected in the retail price of the product and borne by final consumers, contradicts the government’s claims that subsidies have been eliminated.
Subsidy claims for January to July, 2024 alone is almost equivalent to the N6.4 trillion paid for subsidy under former President Muhammadu Buhari in four years from 2019 to 2022.
The developmen threw Nigerians into shock amidst the hardship they faced since President Tinubu announced the end of fuel subsidy regime in Nigeria.
EFCC’s letter of request for information on Mele Kyari and others addressed to the NNPCL chief executive
In the EFCC memo, the anti-graft agency said it was investigating Kyari and other top officials of the organisation, highlighting the need to seek information from the Group managing director’s office.
It requested the NNPCL to provide information regarding the listed officials including those that have retired from the organization.
It also demanded the certified true copies of their emoluments, allowances and any other information necessary to assist the EFCC in its investigation.
