Business
Reps committee orders arrest of Cardoso and accountant-general over refusal to honour summons
The house of representatives committee on public petition has issued a warrant of arrest on Olayemi Cardoso, governor, Central Bank of Nigeria (CBN) for refusing to appear before it to answer questions on their operations.
The committee also ordered the arrest of Oluwatoyin Madein, accountant general of the federation, and 17 others.
Reps committee orders arrest of Cardoso, accountant-general over refusal to honour summons
The motion was led by Fred Agbedi, a member representing the Peoples Democratic Party (PDP), Bayelsa on Tuesday.
Agbedi said the arrest warrant had become inevitable following the attitude of the invitees.
He said parliament worked with time and the CEOs had been invited four times but failed to respond.
The lawmaker added that the CEOs should be brought to appear before the committee by the Inspector General of Police through a warrant of arrest after due diligence by Tajudeen Abbas, speaker of the house.
In his submission, Micheal Irom, chairman of the committee and member representing All Progressives Congress (APC), Cross River, said that the IGP should ensure the CEOs were brought before the committee on December 14.
ALLEGED FRAUD IN OIL AND GAS SECTOR| ‘RECOVERABLE FUNDS CAN FUND 2024 BUDGET’
Earlier, the petitioner, Fidelis Uzowanem, said that the petition was anchored on the Nigeria Extractive Industries Transparency Initiative (NEITI) report of 2021.
He said that the report was a summary of the transactions in the oil and gas industry for 2021 which NEITI could challenge.
“We took up the challenge to examine the report and discovered that what NEITI put together as a report is only consolidation of fraud that has been going on in the oil and gas industry,” Uzowanem said
“It dates back to 2016 because we have been following and we put up a petition to this committee to examine what has happened.
“The 2024 budget of N27.5 trillion that has been proposed can be confidently funded from the recoverable amount that we identified in the NEITI report.
“It is a concealment of illegal transactions that took place in NNPCL, they have been in a sink with some oil companies where some companies that did not produce crude were paid cash core, an amount paid for crude oil production.”
Uzowanem said the cash core payment was used as a channel for laundering funds by NNPCL and “we found out that NEITI was able to conceal it in its report”.
“In 2021 NEITI reported that Total Exploration and Production Nigeria-Ltd was paid 168 million dollars but examination of submission by the company shows that it received $292 million,” he said.
“In other words, $124 million was laundered by NNPCL through Total because monies that have been officially paid to Total could not have been concealed if they were not meant for fraudulent purposes.
“Also for Chevron, the dollar payment NEITI puts forward in its report was $76 million but documents emanating from Chevron showed that they received as much as $267 million.
“In other words, $191 million was laundered under the cover of Chevron and NEITI concealed that; also, Nigeria Agip Company received $188 million but none of it was reported by NEITI.”
Among the 17 to be arrested are the managing directors of National Petroleum Investment Management Services (NAPIMS), Ethiop Eastern Exploration and Production Company Ltd, and Western Africa Exploration and Production.
Others are managing directors of; Alteo Eastern E&P Co. Ltd., First Exploration & Production Ltd., The Md, First E&P Oml 8385 Jv, Heirs Holdings Oil and Mobil Producing Nigeria Unlimited (Mpnu).
Also listed are Shell Petroleum Development Company (Spdes), Total Exploration & Producing Nig (Tepng), Nigeria Agip Oil Company (Naoc), Pan Ocean Oil Nig, Ltd, Newcross E&P Ltd and Frontier Oil Ltd.
Business
31 electricity towers affected as vandals destroy transmission lines in Edo communities
The Transmission Company of Nigeria (TCN) says vandals in Benin, Edo state, have destroyed 31 transmission towers.
In a statement on Friday, Ndidi Mbah, TCN’s director of public affairs, confirmed that vandals attacked transmission towers in Okada and Ofosu communities along the 330kV Benin-Egbin and Benin-Omotosho transmission lines.
Mbah said the vandalised towers, which suffered significant damage with critical components removed earlier in November, were discovered by TCN linesmen during a routine patrol.
“A total of 31 towers were affected in this incident,” she said.
“TCN engineers from the Benin Sub-Region have initiated repairs to prevent the collapse of the affected towers and to avoid disruption of bulk power supply.”
‘AHOADA-YENAGOA LINE UNDER REPAIR TARGETED BY VANDALS’
Mbah also said its Ahoada-Yenagoa 132kV line, which was under repair following a previous attack, was once again targeted by vandals.
The TCN spokesperson confirmed that the attack, which occurred on November 19, affected towers 29 to 31 and resulted in the theft of approximately one-third of the conductor.
On August 14, TCN announced that Bayelsa state would face a prolonged power outage following the destruction of 13 transmission towers along the Ahoada-Yenagoa 132kV double circuit transmission line by vandals.
The transmission company, on October 29, reported that 65 percent of the damaged transmission towers had been repaired.
The company said 17 transmission towers had been successfully erected, with work continuing on the remaining three.
“A team of TCN engineers, led by Engr. Emmanuel Akpa, General Manager of the Port Harcourt Region, has conducted an inspection of the site,” the statement reads.
“Preliminary findings indicate that the incident occurred at night. In an attempt to prevent further theft while repair arrangements are being made, local security has been engaged at Ula Ikata in Ahoada East LGA to secure the site until repairs are completed.
“Additionally, the line will be energized from the Ahoada end as a preventive measure.”
Mbah added that efforts are underway to replace the stolen 250mm conductor.
Despite challenges posed by difficult terrain and flooding, she said the restringing of the Ahoada-Yenagoa 132kV line is approximately 85 percent complete.
The public relations officer stressed that the incidents underscore the urgent need to address the growing problem of vandalism and theft, which continue to affect Nigeria’s power infrastructure.
She urged the public to support efforts to tackle such criminal acts, which have hindered the expansion and stability of the national grid.
Mbah also called on security operatives and local communities to remain vigilant in protecting power infrastructure in their areas as TCN intensifies its efforts to safeguard its installations.
Business
NCAA issues aerodrome certification for Lagos, Abuja international airports
The Nigeria Civil Aviation Authority (NCAA) has issued Aerodrome Certification for Murtala Muhammed International Airport in Lagos and Nnamdi Azikiwe International Airport in Abuja.
This recertification is a significant achievement, highlighting the ongoing improvements in the safety standards of Nigeria’s international airports.
The announcement was conveyed via a post on the official X (formerly Twitter) account of the Federal Airports Authority of Nigeria (FAAN) on Friday.
The Aerodrome Certificates were formally presented to the Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Kuku, by the Acting Director General of the NCAA, Capt. Chris Najomo.
“@NigeriaCAA just issued Aerodrome Certification for the Murtala Muhammed International Airport Lagos and the Nnamdi Azikiwe Airport Abuja. The recertification is a major boost and attestation to the continued improvements of the safety standard of our Airports,” the tweet read in part.
The certification confirms that Lagos and Abuja airports adhere to the strict safety, operational, and technical standards of the International Civil Aviation Organization (ICAO). This milestone is anticipated to enhance trust among domestic and international airlines, strengthening Nigeria’s standing in global aviation.
Business
Lagos state government plans traffic diversion in Ikeja for 10km Capital City Race today
The Lagos State Government has announced plans for a traffic diversion to accommodate the 10km Capital City Race scheduled for Saturday, November 23, 2024.
The race, which runs between 5:00 AM and 11:00 AM, will affect several major roads in the Ikeja axis, requiring motorists to explore alternative routes during the event.
A statement published on the official X (formerly Twitter) account of the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, on Friday, highlighted the affected routes.
These include Shoprite Alausa, Billings Way, Kudirat Abiola Way, Opebi Link Bridge, Allen Avenue, Adeniyi Jones, and Oba Akran Avenue.
The race will conclude at the Police College Sports Secretariat/Gym. Junctions and intersections along these roads will be temporarily blocked and manned by officials from the Lagos State Traffic Management Authority (LASTMA), the Nigeria Police Force (NPF), the Federal Road Safety Corps (FRSC), and the Lagos State Neighborhood Corps (LSNC) to ensure a smooth event.
“The Lagos State Government has announced that traffic will be diverted to accommodate the maiden edition of the 10-kilometer Capital City Race between 5:00 am and 11.00 am tomorrow Saturday, 23rd November, 2024.
“To this end, the following route starting from; Shoprite Alausa Ikeja inwards Billings Way to Kudirat Abiola Way, Opebi Link Bridge, Opebi Glo Tower inward Allen Avenue, Allen Junction, GTBank on Adeniyi Jones, AP Filling Station on Oba Akran Avenue, Samsung Authorized Service Centre to Police College Sports Secretariat/Gym will be partially closed off to vehicular movement.
“Consequently, all junctions and intersections from Shoprite Alausa Ikeja to the destination (Police College Sports Secretariat/Gym) will be blocked with barriers, manned by LASTMA, NPF, FRSC, and LSNC to prevent other road users access to the main race corridor,” the statement read in part.
The Lagos State Commissioner for Transportation urged motorists to remain patient as the road closures are part of the traffic management plan for the event. He added that intersections will be intermittently reopened as the race progresses to minimize inconvenience for road users.
Motorists are advised to plan their movements accordingly and cooperate with traffic officials to ensure the success of the inaugural Capital City Race.
In addition to the planned traffic diversion in Ikeja for the 10km Capital City Race, other traffic diversions are currently in effect across Lagos to accommodate critical infrastructure projects.
The Lagos State Government recently announced a 15-month traffic diversion at Mile 2, which began on November 11, 2024, to facilitate the construction of the new Transport Interchange Terminal. This project aims to integrate rail, bus, water, and non-motorized transport, addressing the city’s growing transportation needs.
The diversion affects Loop 1 on the Apapa-bound lane and Loop 4 on the Badagry-bound lane and will last until February 16, 2026. Motorists are advised to use alternative routes, such as Akinwande Road for Badagry-bound traffic and Durban Road for Apapa-bound traffic, to ease congestion.
Additionally, a three-month traffic diversion on the Marine Bridge, outbound Apapa, commenced on Monday, November 18, 2024. This diversion, set to run until February 25, 2025, is to allow for urgent asphalt repairs overseen by the Federal Ministry of Works.
Motorists heading toward Lagos Island are advised to use the Eko Bridge via Costain Roundabout, while those heading to Ijora Causeway or Iddo can navigate through Ijora 7up or other designated routes.
These diversions are part of ongoing efforts by the Lagos State Government to improve transportation infrastructure while minimizing disruption for road users.
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