NEWS
Reps Committee to Probe Deal Involving 48m Barrels of Oil
Following a whistle-blower’s allegation of illegal sale of 48 million barrels of Nigeria’s Bonny Light crude in China in 2015 and the insurance status of the cargo, the House of Representatives has resolved to constitute an ad hoc committee to look into the matter.
In a dramatic twist, another member of the House, Hon Mark Gbilah, whose name was listed as co-sponsor of the motion, raised a point of order to disown it.
However, the House resolved to proceed with the investigation with the committee also charged to investigate all crude oil exports and sales by Nigeria from 2014 to date, with regards to quantity, insurance, revenue generated, remittances into the Federation Account or other accounts as well as utilisation of the revenue for the period under review.
The panel was also mandated to investigate all proceeds recovered through the Whistle-Blowers Policy under the administration of President Muhammadu Buhari with a view to determining the level of compliance with the policy.
The committee has a four-week period to table it’s findings before the House for further legislative action.
These resolutions followed the unanimous adoption of a motion moved by a member of the House, Ibrahim Isiaka, titled ‘Alleged Loss of over $2.4 Billion in Revenue from Illegal Sale of 48 Million Barrels of Crude Oil Export in 2015, Including Crude Oil Exports from 2014 till Date.’
In the motion, Isiaka stated, “The House is aware of the allegations by a whistle-blower in July 2020 that he (the whistle-blower) had in July 2015, and in response to the current administration’s whistle-blower policy, brought to the attention of a committee purportedly set up by the President for the recovery of missing crude oil exports, the existence of 48 million barrels of Nigeria’s Bonny Light crude oil in storage at several ports in China, ostensibly under the authorisation of the Nigerian National Petroleum Corporation, and the intention of parties in China and the NNPC to sell this cargo.
“The House is also aware that the whistle-blower claimed that the committee, which comprised very high-ranking officials of the administration and NNPC, some of whom he held meetings with, carried out an investigation and confirmed the existence of this cargo, but he discovered in October 2015 that the sale of this cargo had been initiated through unofficial channels…and the eventual refusal of the committee to honour their agreement to pay 5 percent value of the cargo in line with the terms of the whistle-blower policy.
“The House is worried by the allegations that the entire cargo of 48 million barrels of Bonny Light crude was sold without the proceeds being remitted to the coffers of the country, which translated to a loss, to the Nigerian State, of over $2.4bn considering the 2015 global average crude oil price of $52 per barrel.
“The House is concerned that more than two years after these allegations came to the fore and the uncertainty surrounding the required insurance of these crude exports, it becomes imperative that the House ascertains the actual details of all previous crude exports from Nigeria from 2014 till date, with regards to quantity, sale, insurance, revenue generated, payment into the Federation Account and how these proceeds were utilised.”
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe was on Wednesday inducted into the Fellowship of the Nigerian Society of Engineers (NSE).
Biztellers reports that the investiture was performed by the President/Chair-in-Council of the NSE, Engr. Margaret Aina Oguntala, FNSE at a ceremony in Abuja.
Oguntala congratulated the 63 new inductees and urged them to uphold the values of their new position in their field of engineering. She highlighted that engineers have been at the forefront of driving progress and development across various sectors of the economy, notably in the oil and gas industry.
She particularly lauded the ES of NCDMB for his excellent leadership and expertise through the strategic development of local content and in-country value retention, which is a testament to his brilliance in the field of engineering.
Oguntala also applauded the strategic partnership between the NSE, the NCDMB and other stakeholders in the oil and gas industry.
Similarly, the chairman Board of Fellows/College of Fellows, Engr. Kamila Maliki, FNSE, commended the new inductees for their resilience, dedication, and contribution to the field of engineering.
He added that it was not a small feat to be chosen for the investiture due to the rigorous and thorough nature of the selection process.
The ES later was joined by the Managing Director of Setraco Nigeria Limited, Engr. Ziad Mouannes and Senator Patrick Ndubueze for the unveiling of the very first edition of the 2024 NSE Quarterly Magazine.
Some senior officials of the Board who accompanied the ES to the event included the Director, Monitoring and Evaluation, Abdulmalik Halilu, Director, Project Certification and Authorization, Engr. Abayomi Bamidele, and the General Manager, Corporate Communications and Zonal Coordination, Esueme Dan Kikile, Esq.
Before he was appointed the ES of NCDMB, Engr. Ogbe had nearly 30 years top-level career in the field of engineering in the employment of Chevron Nigeria Limited (CNL), before retiring voluntarily to set up his private firm.
His last position at Chevron Nigeria was Construction Services Group Superintendent, and he oversaw 200 personnel, including Nigerian nationals and expatriates.
Other notable positions he held at the company included Offshore Projects Manager, Construction Manager (Lagos, Escravos -Warri), Construction Engineer (San Ramon) in California, United States of America.
On Saturday evening, armed soldiers shut down the popular Banex Plaza in the Wuse 2 district of Abuja after a clash between traders and three soldiers over a phone sale dispute.
According to eyewitness Okechukwu Daniel, the incident began on Saturday afternoon when a young military man returned to a phone shop, claiming a phone he bought about a month ago was faulty.
Daniel, also a trader at Banex Plaza, stated that the seller refused to accept the phone back due to the lengthy period that had passed since the sale.
He said “When the phone seller refused to collect the phone back, the young guy threatened him that he will shut down his shop for refusing to collect the phone, and the seller told him to do his worse.
“That was when he got angry and went to one of the barracks close by and brought two soldiers to come and harass the phone seller for him to collect the phone back.
“When the two soldiers got to the phone shop to threaten the seller, he still refused to collect the phone. The soldiers got angry and wanted to use force on him, that was when other traders came to the rescue of the phone seller and beat up the two soldiers.”
Daniel added that after the soldiers were assaulted, they went back to the barracks to gather reinforcements.
When they returned to Banex Plaza to confront the phone seller and other traders, the traders had already fled from their shops.
He added “When over 50 soldiers who were visibly angry got to the plaza, they could not find the traders that beat up their colleagues, so they decided to shut down the plaza by asking everyone to leave. Anyone found around the plaza was asked to do frog jump and other punishment,”
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The Economic and Financial Crimes Commission (EFCC) has confirmed the transfer of $22,000, recovered from a convicted internet fraudster, Hakeem Olanrewaju, to the Federal Bureau of Investigations (FBI).
Dele Oyewale, the commission’s spokesperson disclosed on Saturday that the handover took place in Lagos State on Friday.
Acting Director of EFCC Lagos Zonal Command, Michael Wetkas, expressed appreciation for the collaboration and assured of EFCC’s continued efforts in combating financial crimes.
During the event, FBI’s Legal Attaché Charles Smith praised the EFCC for its action.
He said “The EFCC and FBI work collaboratively together, and it is thanks to the EFCC that we can recover funds of this nature, especially from Business email Compromise, BEC.
“This type of crime cripples businesses in the US, and for them to recover the money within one to two years gives hope to the affected companies and brings some level of justice, even if not all subjects have been identified.
“We hope our relationship continues and fosters a more cohesive partnership between the two agencies. If there’s anything the FBI can do to support this investigation, we will do so. We appreciate this on behalf of the FBI and thank the EFCC.”
On August 15, 2023, Justice Nicholas Oweibo of the Federal High Court in Ikoyi, Lagos, mandated that the funds retrieved from Olanrewaju, serving a two-year prison term for identity theft and impersonation, be returned to his victim in the US.
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