“The government wishes everyone journey mercies and reassures that security measures have been provided to ensure a free, fair and credible election.”
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Stop crude for loan deals, Reps tell NNPC
Stop crude for loan deals, Reps tell NNPC
The House of Representatives Special Joint Committee investigating factors working against the petroleum sector has directed the Nigerian National Petroleum Company Limited to halt what it called the mortgage of Nigeria’s future crude oil until it concludes its assignment.
Recall that the committee chaired by the lawmaker representing Ideato South/Ideato North Federal Constituency, Imo State, Ikenga Ugochinyere, commenced its probe of shady deals in the sector last week.
The committee’s directive followed reports that NNPC is planning to borrow an additional $2bn in crude oil-backed loans from international creditors to boost its financial inflow.
The Group Chief Executive Officer of NNPC, Mele Kyari, according to the panel, reportedly stated that the national oil company was in discussions with international creditors to raise an oil-backed credit facility.
This was a sequel to recent findings that the national oil company was struggling to pay international oil traders a backlog of $6bn amid subsidy removal.
In a statement issued by Ugochinyere on Wednesday, the lawmaker urged NNPC not to undermine the forensic investigation by the House of Representatives with another fresh loan.
It warned that the move if allowed, would further worsen the situation of of things, starve the refineries of feed-stock, weaken revenue generation and create room for waste of future revenue.
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The statement reads, “The citizens were excited on the recent news of President Bola Tinubu’s intervention for crude supply to local refineries in naira and the committee has received intel of plans to mortgage future crude revenue and oil for another loan at a time the nation is struggling.
“This is preemptive of the committee’s work and we want to announce the halt of this fresh move and for the state oil company to brief the parliament.
“The revenue being mortgaged is a sovereign wealth of the people and the parliament has a duty as the watchdog of the commonwealth to step in. The NNPC today is owned by the Federal Government and Nigerians, hence, its actions must not hurt their shareholders who we lawmakers represent.
“We gathered you here today on a shocking development and alleged move by the leadership of NNPC to mortgage once again our future crude oil assets and revenues for alleged mere administrative purposes.
“As the Chairmen of the Joint Investigative Committees on Petroleum Resources Midstream and Downstream, we have to act in the best interest of the citizens and ensure that the downstream and midstream sectors are protected.”
He noted that the committee in its ongoing investigation is probing allegations of non-remittance to the federation account and non-availability of crude to domestic refineries.
The panel warned the oil company not to work against the recent directive of the Federal Government on the need to protect local refineries.
The statement further read, “We are calling on NNPCL to halt further plans to borrow more loan with crude oil, as the move will sabotage the President’s deal for domestic crude supply.
“In August 2023, following the removal of fuel subsidy and the unification of the forex market which significantly weakened the naira, the Federal Government through the NNPC secured a $3.3bn loan from Afreximbank to shore up liquidity in the market.
“Mele Kyari had explained then that the loan would be used to shore up the foreign exchange reserve and provide a more urgent solution to the country’s forex challenges.
“The loan is said to be paid with crude oil set a $65 per barrel and had earmarked around 90,000 barrels of crude oil for the process. We are urging the NNPC not to undermine the forensic investigation by the House of Representatives into crude oil supply with another fresh loan, as the move is a threat to local refinery.”
Stop crude for loan deals, Reps tell NNPC
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Pension bill: Police retirees to embark on protest
Pension bill: Police retirees to embark on protest
The National Union of the Police Retirees, Kaduna State Branch has arranged for what it called a mother of all protest to remain at the National Assembly until President Bola Ahmed Tinubu signs the Pension Exit Bill.
The Bill to exit the Nigeria Police from the Contributory Pension Scheme and the bill for the establishment of the Nigeria Police Pension Board, as the police retirees are patiently waiting for, and there is the tendency that, the promise may not be fulfilled, as September is winding up.
This is contained in a press release signed by the chairman of the Police Retirees Kaduna State Chapter, CSP Mannir Lawal Zaria Rtd and the Vice Chairman ASP Danlami Maigamo Rtd and distributed to journalists in Kaduna.
CSP Mannir Lawal Zaria Rtd lamented that the police retirees under the Contributory Pension Scheme are dying immensely due to poverty and hunger.
“The union is also pleading that, as the death toll is on the increase among the police retirees under the contributory Pension Scheme and the prices of commodity of any type is also on the increase.”
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He said: “Federal government should come to the aid of the police retirees under the contributory Pension Scheme before they all perish, by immediately paying the following allowances to the police retirees under the contributory Pension Scheme.
“Two point five percent differential, the Federal Government Palliative and three consecutive pension increases by the Federal Government as well as the minimum wage increase.
“During the Police Retirees, Kaduna State Branch monthly meeting held last Wednesday at Police Officers Mess Kaduna. Members became shocked and worried, as there is a sign of unfulfillment of a promise that began to manifest itself because it can be recalled that, on 22/09/24.
“The National Union of the Police Retirees under the contributory Pension Scheme carried out a nationwide peaceful protest to the National Assembly Abuja.
“During the protest, the Chairman of Senate Committee for Police Affairs, Senator Ahmed Abdulkadir Malamadori, addressed some of the retirees in his office, where he promised the retirees that, before September 24, they would be exited from the Contributory Pension Scheme to the Define Benefit Scheme (DBS) that the two Police Bills would be Harmonize.
“Sequel to this, the blood pressure of many concerned police retirees has risen above maximum. Therefore, the Kaduna Branch has unanimously agreed that, if by the end of this September, the Nigeria Police is not exempted from the contributory Pension Scheme,” he said.
Pension bill: Police retirees to embark on protest
News
Edo poll: Court gives fresh order on APC candidate Okpebholo
Edo poll: Court gives fresh order on APC candidate Okpebholo
A Federal Capital Territory (FCT) High Court in Maitama has ordered a judicial review concerning the criminal summons issued against Senator Monday Okpebholo, the All Progressives Congress (APC) candidate in the upcoming Edo governorship election.
The court’s decision follows an application submitted by Okpebholo’s legal counsel, Adaze Emwanta.
The presiding judge, Justice O.C. Agbaza, delivered a ruling after hearing an ex-parte motion on Wednesday. He agreed to the reliefs sought by Okpebholo’s counsel, setting the next hearing for October 28.
The criminal summons was initially issued by Magistrate Abubakar Mukhtar of Wuse Zone 2, who had ordered Okpebholo to appear in court on September 20.
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The summons stemmed from allegations that the APC candidate provided false information regarding his date of birth on forms submitted to the Independent National Electoral Commission (INEC).
The case, which was filed by an Edo indigene, Honesty Aginbatse, accused Okpebholo of conflicting dates of birth in his nomination documents. In response, Okpebholo sought intervention from the FCT High Court to prevent the summons from proceeding. His legal team argued that the criminal charge was part of a plot to tarnish his image ahead of the election.
According to Okpebholo’s defense, the issue of his birthdate had already been addressed and resolved at the Supreme Court’s registry through a Deed of Regularisation, which was officially gazetted by the Federal Republic of Nigeria in August. The APC candidate also alleged that the summons was not served to him directly but circulated on social media to damage his reputation on the eve of the election.
Meanwhile, in a separate but related case, the Federal High Court in Abuja is set to rule on a motion filed by the APC seeking to amend its summons in a lawsuit involving INEC, Asue Ighodalo, and the People’s Democratic Party (PDP). Justice Peter Lifu has reserved his judgment on the case, with both the PDP and Ighodalo contesting the jurisdiction of the suit.
The legal battles surrounding Okpebholo continue as the Edo governorship election approaches, raising questions about their impact on the candidate’s campaign.
Edo poll: Court gives fresh order on APC candidate Okpebholo
News
JUST IN: Edo declares Friday work-free day for gov election
JUST IN: Edo declares Friday work-free day for gov election
The Edo government has declared September 20 as a work-free day to facilitate travel for workers and residents ahead of the state’s governorship election.
The election is scheduled for Saturday, September 21, across 18 LGAs in the state.
In a statement, Joseph Eboigbe, secretary to the state government (SSG), assured that adequate security arrangements are in place for a secure and democratic election process.
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“This is to enable workers and other electorates travel to their voting areas ahead of the September 21 governorship election in the State” he said.
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