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Senate rejects NNPCL’s defence, orders refund of ₦210trn unremitted funds

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Senate rejects NNPCL’s defence, orders refund of ₦210trn unremitted funds

The Senate has rejected the Nigerian National Petroleum Company Limited (NNPCL)’s explanations regarding the alleged ₦210 trillion unremitted to the Federation Account, insisting that the company must refund the amount.

The resolution followed months of investigation by the Senate Committee on Public Accounts, chaired by Senator Aliyu Wadada, after the NNPCL’s Group Chief Executive Officer, Bayo Ojulari, failed to appear before the committee during its resumed hearing at the National Assembly on Tuesday.

The session was scheduled to allow the NNPCL clarify issues arising from 19 questions earlier raised by the committee concerning the alleged missing funds.

According to the committee’s review of NNPCL’s audited financial statements from 2017 to 2023, the firm recorded ₦103 trillion in accrued expenses and ₦107 trillion in receivables, totalling ₦210 trillion — transactions the panel described as unexplained and contradictory.

Senator Wadada said the explanations provided by the company were “unsatisfactory” and failed to align with available evidence.

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“NNPCL claimed ₦103 trillion as accrued expenses and ₦107 trillion as receivables—amounting to ₦210 trillion. On question eight, NNPCL’s explanation on the ₦107 trillion receivables, equivalent to about $117 billion, contradicts the company’s own records. The committee is duty-bound to reject this,” he stated.

The lawmaker further queried how the NNPCL could have paid ₦103 trillion in cash calls to joint venture (JV) partners in 2023 alone when it reportedly generated only ₦24 trillion in crude oil revenue between 2017 and 2022.

“Cash call arrangements were abolished in 2016 under President Muhammadu Buhari. How can NNPCL claim to have paid ₦103 trillion in one year when it generated only ₦24 trillion in five years? Where did NNPCL get that money?” he asked.

Wadada insisted that the alleged ₦103 trillion must be returned to the national treasury, stressing that the figures presented by the NNPCL were “unjustifiable and unacceptable.”

He also advised the company’s management to acknowledge any challenges in reconciling the records rather than providing inconsistent explanations.

“If the present management of NNPCL is finding it difficult to provide acceptable answers, it is better they say so. The committee will not hesitate to subpoena former officials of NNPCL and NAPIMS,” Wadada warned.

The Senate committee said its investigation would continue until the company’s management appears to provide a satisfactory account of the missing funds.

 

Senate rejects NNPCL’s defence, orders refund of ₦210trn unremitted funds

(Source: Channels Television)

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Benue Boat Mishap: Catholic Priest Among Four Dead, Nine Missing

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Benue Boat Mishap: Catholic Priest Among Four Dead, Nine Missing

Benue Boat Mishap: Catholic Priest Among Four Dead, Nine Missing

A Catholic priest, Rev. Fr. Moses Tsuagh, is among four people confirmed dead following a boat mishap at the Buruku crossing point in Buruku Local Government Area of Benue State.

The accident occurred on Saturday, October 3, 2026, as passengers were travelling across the Buruku River after attending a burial ceremony. Most of those on board were reportedly from neighbouring Gboko Local Government Area.

The Benue State Emergency Management Agency (SEMA) confirmed that four bodies had been recovered, while nine passengers remained missing as search and rescue operations continued.

SEMA Information Officer, Tema Ager, said the number of people who were aboard the boat was still being established because different accounts had emerged from survivors, relatives and community members.

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An earlier estimate suggested that more than 200 people may have been on the vessel, while subsequent information put the number of passengers believed to have been involved at about 138. The boat was also carrying numerous motorcycles.

Ager said 125 passengers had been rescued as of Monday, while divers and other rescue personnel continued searching for those still unaccounted for.

The rescue operation is also focused on recovering motorcycles and other belongings that went into the river. Authorities said 38 motorcycles were believed to have entered the water, with five subsequently recovered.

Initial accounts attributed the mishap to engine failure, overloading and difficulties encountered while attempts were made to rescue passengers. Another preliminary account from the state Commissioner for Marine and Blue Economy, Dennis Iyaghigba, said a strong current swept the boat into an abandoned barge, causing it to overturn.

The differing preliminary accounts are expected to be clarified as the authorities complete their investigation.

Following the accident, the Benue State Government suspended the Buruku crossing-point branch of the Nigeria Union of Maritime Workers.

Iyaghigba also ordered the suspension of the line operator and directed the arrest and detention of the boat skipper involved in the incident pending investigation.

SEMA has continued to appeal to passengers using the state’s waterways to observe water safety measures, particularly the use of life jackets and compliance with instructions from maritime officials.

The tragedy has renewed concerns about maritime safety in Benue, including passenger capacity, boat maintenance, enforcement of safety regulations and the need for safer river crossings.

Search and rescue efforts are continuing as authorities work to account for all passengers believed to have been aboard the vessel.

Benue Boat Mishap: Catholic Priest Among Four Dead, Nine Missing

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Rivers Police Arrest OSPAC Operative Over Alleged Killing, Secret Burial

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Rivers Police Arrest OSPAC Operative Over Alleged Killing, Secret Burial
Spokesperson for the Rivers State Police Command, Blessing Agabe

Rivers Police Arrest OSPAC Operative Over Alleged Killing, Secret Burial

The Rivers State Police Command has arrested a member of the Onelga Security and Advisory Committee (OSPAC) over the alleged killing and secret burial of a man in Omoku, Ogba/Egbema/Ndoni Local Government Area of Rivers State.

The suspect, identified as Felix Dibia, is accused of killing Francis Chibuzor Ogwu during an incident reported on October 1, 2026.

According to the police, Dibia allegedly accosted Ogwu and another man along a road in Omoku and ordered both men to sit on the ground. While Ogwu reportedly complied, the other man allegedly fled from the scene.

Dibia allegedly shot Ogwu and subsequently buried his body in a shallow grave before leaving the area.

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The alleged incident came to light the following day, prompting the Rivers Police Command to launch an investigation.

Police investigators subsequently arrested Dibia and recovered a firearm allegedly linked to the incident.

The Rivers State Police Public Relations Officer, ASP Agabe Blessing Kaborlo, confirmed the arrest and said the investigation was ongoing to establish the circumstances surrounding the man’s death.

The command said the suspect would be subjected to due process as investigators work to determine what led to the alleged killing and whether any other person was involved.

The police have not disclosed further details about the recovery of Ogwu’s remains or whether additional suspects have been arrested.

The case has renewed attention on the activities of vigilante groups and community security outfits operating in parts of Rivers State, particularly the need for such groups to operate within the law while supporting conventional security agencies.

Dibia remains in police custody as the investigation continues, and the allegations against him have not been established in court.

Rivers Police Arrest OSPAC Operative Over Alleged Killing, Secret Burial

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Adeleke Signs New Law to Regulate Motor Parks Across Osun

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Adeleke Signs New Law to Regulate Motor Parks Across Osun

Adeleke Signs New Law to Regulate Motor Parks Across Osun

Osun State Governor Ademola Adeleke has signed the Osun State Park Management Bill, 2026 into law, providing a new legal framework for the administration of motor parks and transport-related activities across the state.

The legislation, signed in Osogbo, is aimed at restructuring the management of motor parks, improving accountability in the transport sector and addressing longstanding disputes over the control and administration of parks.

The new law provides for a more organised system of park management, including measures to regulate operations, improve revenue collection and reduce leakages in the system.

It also introduces provisions for digital ticketing, with the aim of eliminating multiple ticketing and making revenue collection more transparent. The framework is expected to strengthen oversight of commercial transport activities while reducing opportunities for extortion and other irregular practices.

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Under the new law, activities such as thuggery, violence and other unlawful conduct within motor parks are prohibited, as the state seeks to create a safer and more orderly environment for transport operators and commuters.

The legislation follows renewed efforts by the Adeleke administration to address disputes and insecurity associated with the control of motor parks in Osun.

The governor had earlier directed the reintroduction of a formal Park Management System following the killing of Olalekan Oyeyemi, popularly known as Emir Ajagungbade, in Ile-Ife. The incident heightened concerns over rival interests and disputes surrounding motor park operations.

Following the development, the state government ordered rival groups to vacate motor parks and directed security agencies to restore order while steps were taken to establish a statutory framework for park administration.

The Osun State House of Assembly subsequently passed the park management legislation, paving the way for the governor’s assent.

With the signing of the bill, the state now has a statutory framework for regulating motor parks, garages, loading points, transport operations and related revenue collection.

The implementation of the law is expected to bring changes to the way parks are administered and how transport operators interact with the state government. Its effectiveness will depend largely on enforcement, transparency and the cooperation of transport stakeholders.

Adeleke Signs New Law to Regulate Motor Parks Across Osun

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