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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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Judiciary workers in Ogun suspend strike after two weeks

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The Ogun state chapter of the Judiciary Staff Union of Nigeria (JUSUN) has suspended its indefinite strike.

The union had called for a strike on April 8 over the non-payment of 40 percent peculiar allowance by the state government.

Adewale Adenekan, publicity secretary of the union in Ogun, said executive members held a meeting with the secretary to the state government on Monday.

“After the meeting with the representatives of the state government, the authenticity of the union’s demand was established and the state government realised its mistakes in the failure to involve the JUSUN executive in the negotiation process which led to the approval and implementation of the Peculiar Allowance”, the statement reads.

“The state government said this was because JUSUN is not a member of JNC.

“However, the bone of contention is now the timing of the implementation of the union’s demand, putting into consideration the imminent announcement by the Federal Government of the new minimum wage which is expected on May 1.

“This will be billed for implementation between May and June 2024 for both Federal and State workers.

“After much discussion on the matter, it was agreed that JUSUN’s demands should be treated together with the full implementation of CONJUSS alongside the minimum/living wage negotiation and implementation.”

The union added that it reviewed the proceedings of the meeting and decided to suspend the strike.

“This is a very difficult moment for both the leadership and members of the union, but we believe this is a fair agreement that will benefit the union and its members in the long term,” the statement adds.

“In view of the above, the National Officers and JUSUN leadership of Ogun state, having reviewed the proceedings of the meeting, decided to suspend the indefinite strike action.

“The union thereby directed all its members to resume work by Wednesday. The union will continue to engage the state government towards the actualisation of its demands.

“We look forward to continue to provide our esteemed members with excellent and quality leadership.”

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Nigeria Air: EFCC vows to arraign Sirika over alleged contract fraud

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The Economic and Financial Crimes Commission (EFCC) says it will prosecute a former Minister of Aviation, Hadi Sirika, over alleged money laundering, contract fraud in the ministry and Nigeria Air debacle.  

The EFCC Spokesperson, Dele Oyewale, disclosed this on Wednesday in a phone conversation with Nairametrics. 

When asked if the anti-graft plans prosecuting the former minister, he responded in the affirmative. 

He (Sirika) is going to be charged to court, but it may not be able to be either now or…but definitely, he is going to be sued. He may be arraigned very very soon. That is the information I’ve got,” he said. 

Sirika served under former president Muhammadu Buhari as Minister of Aviation. 

Another source familiar with developments within the commission but chose not to be named also told Nairametrics that the anti-graft agency’s ongoing probe would lead to prosecution. 

“The EFCC is planning to prosecute him, but I don’t know the details except that he was arrested,” the source said. 

Several media outlets claim the ex-minister is being interrogated over alleged contract scam under his purview and knowledge. 

A reliable source said the arrest is also linked to the botched Nigeria Air. Minister of Aviation and Aerospace Development, Festus Keyamo, had cancelled the Nigeria Air deal on August 31, 2023. He had revealed on January 31, 2024, that “the whole composition and totality of the deal is merely Ethiopian Air flying the Nigerian flag.” He also admitted that the EFCC was investigating the whole deal. 

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FAAN reopens Lagos airport runway after Dana Air incident

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The Federal Airports Authority of Nigeria has announced the reopening of Runway 18L/36R at Murtala Muhammed Airport in Lagos, following a temporary closure caused by a Dana Air plane skidding off the runway on Tuesday

This was disclosed in a press release signed by the Director of Public Affairs and Consumer Protection, FAAN, Obiageli Orah, on Wednesday.

The statement read, “The Federal Airports Authority of Nigeria is pleased to notify the public and all stakeholders that Runway 18L/36R was reopened for flight operations at 19:58hrs.

“This development follows the earlier closure of the runway this morning due to an incident involving a Dana Air aircraft, with registration number 5N-BKI, which overshot the runway during its landing sequence.

“Prompt actions were taken by our emergency response team to evacuate and recover the aircraft from the site. Subsequently, comprehensive clearing operations were conducted to ensure the runway was free of any Foreign Object Debris that could impede flight safety, Orah added.

According to the statement, the FAAN Operations Division and the Nigerian Airspace Management Agency have jointly inspected the runway surface and deemed it safe for the resumption of operations.

“A concerted effort was made for the thorough and efficient cleaning of the area to facilitate the swift resumption of operations on Runway 18L/36R,” she said.

Orah apologised for any inconvenience caused, stating, “Ensuring the safety and security of our passengers, staff, and airport operations remains our top priority.

“FAAN is committed to providing a safe, secure, and efficient air transport environment for all users of our airports.

“FAAN wishes to express its gratitude to the travelling public, our airline partners, and all stakeholders for their patience, understanding, and cooperation during the temporary closure. We sincerely apologise for any inconvenience this incident may have caused,” the statement read.

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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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