AGF Vows to Investigate Ex-NNPCL Boss Kyari Over $2bn Debt Owed to Matrix Energy
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has pledged to investigate former Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over a staggering $2 billion debt allegedly owed to Matrix Energy.
The commitment came on Wednesday through Deputy Director of the Federal Ministry of Justice, Winifred Adekunle, who addressed a coalition of protesting lawyers outside the ministry’s headquarters in Abuja.
The lawyers, under the banner of Guardians of Democracy and Rule of Law, submitted a formal petition calling for Kyari’s immediate probe and possible arrest.
This was the second protest in as many days. Just a day earlier, another group, Concerned Citizens Against Corruption, took to the streets demanding a full-scale investigation into Kyari’s financial dealings while at the helm of NNPCL.
Adekunle assured the protesters that their petition would not be swept under the carpet. “The Attorney General and the Solicitor General are committed to justice. Your petition will be treated urgently,” she said.
The lawyers, led by Convener Emmanuel Agada and National Secretary Jonathan Uchendu, alleged that Kyari ran the NNPCL “like a private racket for cronies and allies.” They criticized the government for what they see as a delayed and inadequate response following his removal, which they believe was prompted more by public outrage than official scrutiny.
Central to their petition is a troubling $2 billion debt reportedly owed by the Federal Government to Matrix Energy — a debt they claim is being quietly repaid through daily allocations of 80,000 barrels of crude oil.
The group questioned the transparency of the arrangement: Who authorized the deal? Why crude oil instead of cash? And why the secrecy?
They also pointed to inconsistencies in the Port Harcourt Refinery project, alleging that Matrix Energy had injected $400 million into the plant, even though the Federal Executive Council had already approved $1.5 billion for its rehabilitation.
The lawyers are calling for a full audit of all deals signed under Kyari’s leadership. They want those found culpable held accountable, misappropriated funds recovered, and a full investigation into the NNPCL’s controversial handling of refinery rehabilitation projects.
They also urged the AGF to establish a commission of inquiry to uncover the extent of financial mismanagement and to recommend concrete steps to recoup public funds.
Above all, the group insists that only a transparent and comprehensive investigation will rebuild public trust, curb future abuse, and show that no one — no matter how powerful — is above the law.
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