Business
$9.3bn loss: NIMASA DG faces arrest over $5m legal fee
The Director-General of the Nigerian Maritime and Safety Agency, Dr Bashir Jamoh, faces arrest for allegedly paying $5 million to a legal firm as a professional fee for the recovery of a $9.3bn loss.
The Senate Panel on Public Accounts on Sunday ordered the arrest of the NIMASA DG.
The $5m was paid for the intelligence-based tracking of a global movement of Nigerian hydrocarbon and recovery of loss by the Federal Government of Nigeria in the sum of $9.3bn between 2013 and 2014.
The Chairman of the committee, Senator Matthew Urhogbide, at a briefing on Sunday, was furious with the agency over the failure of NIMASA to appear before the panel, saying that the panel had no other option than to issue a warrant of arrest on the DG of NIMASA.
He said, “We have invited NIMASA up to three times, but they have failed to honour our invitations. This committee has no other option than to issue a warrant of arrest against the Director General of the agency. They can come to the National Assembly for fund appropriation, but when it is time to give account they will be nowhere to be found.
“The committee had invited NIMASA up to three times for the explanation on the payment of $5 million as professional fee and details of $9.3bn loss by the Federal Government, but the agency declined the invitation.”
The Auditor General’s report seen by our correspondent revealed that all efforts by the Auditor General of the Federation to get the details of the $9.3bn loss by the Federal government for thorough scrutiny were not granted by NIMASA.
According to AuGF report, the money was paid from Zenith Bank (UK)’s dollar account.
The query read, “Audit observed that the agency engaged the service of a legal firm through a letter with reference number NIMASA/DG/KP/2014/001, dated 24th January 2014 for the intelligence-based tracking of a global movement of Nigerian Hydro-Carbon and recovery of loss by the Federal Government of Nigeria in the sum of $9.3bn between 2013 and 2014, with a start-off cost of $5m and five per cent of all sums recovered.
“Payment instruction with reference number NIMASA/2007/DFS/WJ/5.500/VOL.11/341 dated April 2014 showed that the firm was paid the sum of $4,523,809.52 (Four million five hundred and twenty-three thousand eight hundred and nine dollars fifty-two cents only) net as professional fees from Zenith Bank (UK) Dollar account.
“The naira equivalent of this amount was N741,904,761.28 at an exchange rate of N164 to a dollar as of that date.
“No evidence of recovery of either part or the entire sum of the 9.3 Billion US Dollars was presented at the time of the periodic check-in in February 2018, despite the huge amount of money already paid to this effect.
“It is instructive to note that details of the transaction leading to the loss of $9.3bn to the Federal Government which only came to audit attention through the review of the letter from the agency to the legal firm so as to ascertain what could have transpired, resulting in such a huge loss were not presented for audit.”
“Ordinarily, the firm should have deducted its fees from the amounts recovered for the FGN, and not receive fees in advance in lieu of the recoveries.
It added, “Audit is concerned that payments were made for service not rendered and this may be a deliberate attempt to divert government funds for personal use.
“The Director-General is required to justify the payment for service not rendered, failing which the sum of N741,904,761.28 should be recovered from the legal firm and paid into the CRF, forwarding evidence of payment to the Public Account Committees of the National Assembly and to the Office of Auditor-General for the Federation for verification. Sanctions stated in FR 3104 should apply. He is also required to provide details of the transaction(s) leading to the loss of 9.3 Billion US Dollars for thorough scrutiny.”
Aviation
Disaster averted as bird strike hits Abuja-Lagos Air Peace flight
Disaster averted as bird strike hits Abuja-Lagos Air Peace flight
An Abuja-Lagos flight was on Thursday aborted following a bird strike on the airplane belonging to Air Peace, forcing the authorities to ground the aircraft.
The bird strike experienced in the early hours reportedly prompted a ramp return to ensure the safety of passengers onboard.
All the passengers quickly disembarked and were calmed down before they were moved into another plane for the one-hour journey.
A bird strike is a collision between a bird and an aircraft, or other airborne animal, while the aircraft is in flight, taking off, or landing. And it can be a significant threat to aircraft safety.
Air Peace in a statement by its Head of Corporate Communications, Ejike Ndiulo, said the bird strike occurred at 6:30am, and all passengers disembarked normally.
The statement read, “We wish to inform our esteemed passengers that our Abuja- Lagos 06:30 flight experienced a bird strike before take-off, prompting a ramp return as a safety measure. All passengers disembarked normally.
“We have deployed a replacement aircraft for the affected flight in order to minimize disruptions, thus ensuring that passengers continue their journeys promptly.
“We appeal for the understanding of our valued passengers impacted by this development, as well as those on other flights that may experience delays.
“At Air Peace, we are committed to providing safe, comfortable, and reliable air travel for all our passengers.”
Business
NNPC achieves 1.8mbpd crude oil production
NNPC achieves 1.8mbpd crude oil production
The Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd).
The company which announced this at a press briefing said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.
Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, congratulated the Production War Room Team that anchored the production recovery process.
“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we
have from the President, the Honourable Minister, and the Board,” Kyari explained.
Giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.
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He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.
He stressed that when the Production War Room team was inaugurated on 25th June 2024, production was at 1.430mbpd, but the team swung into action, culminating into sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.
“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.
Also speaking on the development, Chairman of the NNPC Ltd Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy”.
He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.
On his part, the Honourable Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.
NNPC achieves 1.8mbpd crude oil production
Business
FG gets fresh $134m loan from AfDB for agric projects
FG gets fresh $134m loan from AfDB for agric projects
The Federal Government has secured a loan facility of $134million from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country.
This is contained in a statement issued by Anthonia Eremah, Chief Information Officer, Ministry of Agriculture and Food Security, on Thursday, in Abuja.
Minister of Agriculture and Food Security, Sen. Abubakar Kyari, made his know at the unveiling of the 2024/2025 National Dry Season Farming in Calabar, Cross River State capital.
Kyari explained that with the re-introduction of the national dry season farming to boost year-round agricultural production, the loan would be handy and guarantee national food security in the country.
The minister said the initiative is under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project.
He said the federal government had declared an emergency on food production to enable all Nigerians to get easy access to quality and nutritional food at affordable rates.
Kyari also said government wants to use the agricultural sector for national economic revival through increase in production of some staple food crops such as wheat, rice, maize, sorghum, soybean, and cassava during both dry and wet season farming.
He added that 107,429 wheat farmers were supported under phase 1 of the 2023/2024 dry season, and 43,997 rice farmers under the second phase of the 2023/2024 dry season.
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The minister said recently, government supported 192,095 rice, maize, sorghum/millet, soyabean and cassava farmers under the 2024 wet season across the 37 States including the FCT.
He said Cross River was leading 16 other states in wheat production, adding that over 3000 wheat farmers have been listed to benefit from the support to grow the grain.
Kyari noted the Cross River government’s commitment to wheat production.
He said it informed why the federal government is partnering with the state to kick start the maiden wheat production and enlisting them among states commencing the current 2024/2025 dry season farming.
“The 2024/2025 dry season farming, the project is targeted to support 250,000 wheat farmers across the wheat-producing states with subsidised agricultural inputs.
“This is to cultivate about 250,000 hectares with an expected output of about 750,000 metric tonnes of wheat to be added to the food reserve to reduce dependence on importation of the product and also increase domestic consumption.
“Equally the programme will provide support to 150,000 rice farmers under the second phase to cover all the 37 states, including FCT, with an expected output of about 450,000 metric tonnes,” he said.
FG gets fresh $134m loan from AfDB for agric projects
(NAN)
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