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NNPC reacts to allegations of operating secret accounts

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The Nigerian National Petroleum Company (NNPC) Limited has denied allegations that it is operating secret accounts.

The state-owned oil giant said that it does not directly or through its upstream arm, the National Petroleum Investment Management Services (NAPIMS) operate secret accounts.

The reaction followed reports that the House of Representatives committee probing all joint venture operations and production sharing contracts in the oil and gas sector since 1990, had uncovered alleged secret accounts owned by the NNPC.

This was disclosed in a statement issued by the Group General Manager, Group Public Affairs Division of NNPC, Garba Deen Muhammad, and can be seen on the oil company’s official Twitter account.

Muhammad in the statement said that joint venture cash call accounts denominated in US dollars and Nigerian Naira are all domiciled with the Central Bank of Nigeria (CBN) in line with the Treasury Single Account (TSA).

The statement from NNPC reads, ‘’Our attention has been drawn to a publication in the media, including the Guardian Nigeria Newspaper, TVC news and a few others, alleging that a House of Representatives ad hoc Committee set up to investigate the structure and accountability and production sharing contracts of the NNPC from 1990 to date” has found a hidden account that belongs to Nigerian National Petroleum Company Limited.

‘’The publication stated that this information was brought to light during an investigation into all Joint Venture agreements and Production-Sharing Contracts in the oil and gas industry since 1990.

“This is not correct. The NNPC, directly or through its upstream arm, the National Petroleum Investment Management Services (NAPIMS), does not operate secret accounts at all.


“The Joint Venture cash call accounts denominated in US Dollars and Nigerian Naira are all domiciled with the Central Bank of Nigeria (CBN) in line with the Treasury Single Account (TSA) policy.


“The Joint Venture Cash Call (JVCC) NGN and USD Accounts were created to cater for the funding of cash calls for the various Joint Ventures managed by NNPCL on behalf of the Federal Government.

“Joint Venture Proceeds Accounts were opened for the individual JVs to implement the Self-Funding Strategy which aims at making the JVs to be self-reliant.


“The Office of the Accountant-General of the Federation (OAGF) is fully aware of the JVCC accounts as the OAGF regularly sanctions and approves the updates/change of signatories to the accounts. NNPC has documents where these correspondences with the OAGF were acknowledged.


“The NNPC/NAPIMS books of accounts in respect of the Federations Upstream Petroleum activities are audited annually by independent external auditors.

“A critical part of the independent statutory audit is sending of circularization to Banks to confirm balances and bank accounts belonging to NNPC/NAPIMS.
“Audited Financial Statements (AFS) are submitted to all stakeholders including the National Assembly.
“In addition, the Office of the Auditor General for the Federation conducts periodic (yearly) checks of the activities of NNPC/NAPIMS.
“Also, activities of NNPC/NAPIMS are audited yearly by the Nigerian Extractive Industry Transparency Initiative (NEITI).

“NNPC has documented evidence of the correspondences between NNPCL and The Office of the Accountant-General of the Federation (OAGF) before the accounts were opened with the Central Bank of Nigeria (CBN), in line with the Treasury Single Account (TSA) policy. We also have evidence of reconciliations carried out with the CBN for the year ended 31-12-2021 in respect to the JV Cash Call Accounts.
“Thus, with such multiple layers of checks and balances, it is impossible for the NNPCL to operate secret accounts untill the ad hoc Committee, with due respect to its competencies, discovers it. If such “secret account” does exists, then the NNPCL certainly is not aware of, and has absolutely nothing to do with it.”

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Tinubu writes reps, seeks Oluyede’s confirmation as COAS

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President Bola Tinubu has asked the house of representatives to confirm Olufemi Oluyede as the substantive chief of army staff (COAS).

Tinubu’s request is contained in a letter read by Tajudeen Abbas, speaker of the house of representatives, during plenary on Tuesday.

Tinubu said Oluyede’s confirmation is in accordance with the provision of section 218(2) of the 1999 constitution as amended and section 18(1) of the Armed Forces Act.

The president said the army chief’s contribution to the military and Nigeria makes him “well-suited” for the role.

He said Oluyede has been professional in his duties, adding that his confirmation should be done “expeditiously”.

On October 30, Tinubu appointed Oluyede as the acting COAS following the prolonged illness of Taoreed Lagbaja, the former army chief.

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Governor Nwifuru suspends health, housing commissioners

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The Ebonyi State Governor, Francis Nwifuru, has suspended the state Commissioner for Health, Dr. Moses Ekuma and his Housing and Urban Development counterpart, Francis Ori.

It was gathered that they were suspended on Monday during the State Executive Council meeting in Abakaliki, the state capital.

A statement issued by the Commissioner for Information and State Orientation, Jude Okpor, which was sighted by our correspondent on Tuesday morning, read, “Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three months suspension of the Honourable Commissioner for Health respectively.”

It was also learnt that the development may be connected to the alleged theft of pieces of property belonging to the Ministry of Health by its officials and the reported underperformance of the Housing and Urban Development commissioner and his shoddy handling of the Amaeze Housing Scheme in the Ishielu Local Government Area of the state.

Recall that the governor was in the health ministry’s premises on Saturday night and met a scene where six officials were caught allegedly diverting government materials.

He, therefore, ordered their arrest and eventual prosecution.

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Sanwo-Olu suspends media aide over misrepresentation of facts

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Lagos State Governor, Babajide Sanwo-Olu, has suspended his Senior Special Assistant on Print Media, Mr Wale Ajetunmobi.

This was disclosed in a statement issued on Tuesday by the governor’s Special Adviser on Media and Publicity, Gboyega Akosile.

The statement was titled, ‘Governor Sanwo-Olu suspends aide.’

Ajetunmobi’s suspension “comes on the heels of the misrepresentation of facts on his personal X account on a past incident,” according to the statement.

Akosile noted that the Sanwo-Olu-led administration “frowns at any form of extra-judicial punishment and will not be a part of any such action. That is not who we are. That is not our way.”

A check by PUNCH Online on Ajetunmobi’s X account, #Riddwane, on Tuesday showed that his timeline was devoid of any such tweet as it had been deleted.

Premium Times, on Sunday, November 24, 2024, reported a tweet by Ajetunmobi, tweeting as #Riddwane, in which he revealed that arsonists who burnt down the Television Continental station in Lagos during the heat of the 2020 #EndSARS protest, had been “hunted down and executed.”

The suspended aide also stated that one of the “executed” arsonists was a young boy (name undisclosed) who traded in cooking gas around the Ketu area of the state.

Ajetunmobi alleged that the boy was found with an AK-47 rifle.

The tweet read, “The full story of people who burnt down TVC in 2020 will be told one day, with gory clips and images. One thing to note: majority of them have been hunted down and executed.

“One of them, a young boy trading in cooking gas around Ketu, was found with an AK-47 at the site. Even his neighbours were shocked. But the full gist is better saved for later.”

Reacting to the tweet, an X user identified as Hamlad, tweeting as #hamoye4real, asked, “Are you in the know of extra-judicial killings?”

In his response, the suspended aide wrote, “Lol… you want to create a narrative in your head. What is extra-judicial killing here? Some of the people were chased by soldiers and an exchange of fire occurred. Then arsonists were overpowered and killed in the process. Others ran away. Is that an extra-judicial killing to you?”

However, in a tweet by Ajetunmobi early Tuesday at 2:34 am — two days after the report, and quoting the Premium Times report on his X handle, he clarified that while the word “executed” was “erroneously used,” his tweet was his “personal opinion” and didn’t reflect the stance of his employer or his office.

He also stated that “no extra-judicial killing was insinuated.”

The tweet read, “This excerpt was quoted out of context and there were series of comments made under the same post, which better explained what was intended. Like I did further explained in the said tweet, no extra-judicial killing was insinuated. The word ‘executed’ was erroneously used and not intended in the context of that casual conversation.

“What was written in the entire conversation reflected personal opinion and not the position of any authority or the entity in which I work. The post and other comments had been taken down, even before this publication.”

In a report by PUNCH Online on October 30, 2020, it was reported that no fewer than 250 staff of TVC at Ikosi, Ketu, Lagos, were unable to work after arsonists burnt the station.

Transmission gadgets, state-of-the-art studios, production rooms and operational vehicles of TVC, including cars of staff, were set ablaze.

The station’s Chief Executive Officer, Mr Andrew Hanlon, added that over 500 direct employees of the station had been struggling to work in temporary accommodation put up by the company.

Halon stated these when Governor Sanwo-Olu visited the management and staff of the station.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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