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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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NAFDAC shuts down bakery using saccharine to bake bread for Sokoto residents

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The National Agency for Food Drugs Administration and Control (NAFDAC) has closed down a bakery for using unfortified sugar and banned bromate in Sokoto.

The NAFDAC State Coordinator, Garba Adamu, told the News Agency of Nigeria (NAN) on Friday that the bakery was detected during a special raid by agency officials.

“We discovered that the bakery was using saccharine, an unregistered foreign sugar as sweetener along with banned bromate in their productions.

“The items were seized for destruction and the bakery is shutdown until it complies with regulations and directives,” he said.

Adamu emphasised that only fortified registered sugar containing vitamin ‘A’ with micro nutrients and other vitamins are allowed to be sold and consumed in Nigeria.

“This is a Federal Government policy enforced by NAFDAC and other government agencies to ensure that consumers get the maximum nutritional and other health benefits from the produced products.

“Six other bakeries were also sanctioned for poor hygiene as enforcement officers led by Mr Buhari Manzo scale up the routine inspection visits to bakeries across the state.

“Bakeries are monitored to ensure that they don’t use saccharine or other banned items as a substitute to fortified regulated ingredients, ” Adamu said.

The coordinator cautioned producers against using adulterated, counterfeit, unregistered and expired items in their places, reiterating that NAFDAC would continue the enforcement at all the times.

Adamu said the operation would be extended to local government areas as part of the agency’s efforts to ensure that hygienic food are being sold as well right products were in circulation.

He called on the general public to be wary of patronising unregistered products and always report any suspicious practice and contaminations to NAFDAC, reiterated the agency’s continues efforts to safeguard the health of the nation.

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Police officer killed as gunmen attack Philip Shaibu, Okpebholo’s convoy in Edo

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Philip Shaibu, the former deputy governor of Edo, and Monday Okpebholo, the governorship candidate of the All Progressives Congress (APC) in the state, escaped death on Thursday when their convoy was attacked in Benin City by suspected gunmen.

Witnesses said the incident happened Thursday afternoon near the Benin airport, shortly after the two politicians arrived to a rousing welcome by their supporters.

TheCable understands that their convoy came under attack at the exit gate of the airport when some gunmen in a Sienna car opened fire at them.

There was an exchange of fire between the assailants and the security operatives attached to the APC candidate and the former deputy governor, according to a witness.

“The intervention of the mobile squad of the Nigeria Police brought the situation under control,” a witness said.

“Several officers continued shooting to disperse the attackers as they fled in a Toyota Sienna bus.”

However, a police officer identified as Okon, attached to the APC candidate, died during the shootout.

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Tinubu appoints Didi Esther Walson-Jack as head of service

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President Bola Tinubu has approved the appointment of Didi Esther Walson-Jack, as head of the civil service (HoS) of the federation.

Ajuri Ngelale, the presidential spokesperson, said in a statement on Wednesday that Walson-Jack’s appointment will take effect on August 14.

Ngelale said Folasade Yemi-Esan, the outgoing HoS, is set to retire from the civil service on August 13.

“Mrs Walson-Jack was appointed as Federal Permanent Secretary in 2017 and has served in several ministries,” the statement reads.

“The new appointee will take over from the incumbent Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, CFR, who is due to retire on August 13, 2024.

“President Tinubu, while thanking the outgoing Head of Service for her stewardship, tasks the incoming Head of Service to discharge her duties with innovative flair, integrity, and stringent adherence to the extant rules and regulations of the Civil Service of the Federation.”

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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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