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

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Senate plenary

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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Bride Abandoned 24 Hours After Wedding as Groom Declares Marriage ‘a Mistake’

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Bride Abandoned 24 Hours After Wedding as Groom Declares Marriage ‘a Mistake’

A newlywed woman was left devastated after her husband abruptly ended their marriage just hours after their lavish wedding ceremony, in a shocking turn of events that has since drawn widespread attention online.

The incident, shared by a relative on a popular discussion forum, involved a couple described as childhood sweethearts in their mid-20s whose relationship had long been admired within their social circle. Their wedding, attended by more than 250 guests, was reportedly a grand affair, symbolising what many believed to be a perfect union.

However, the marriage unravelled almost immediately.

According to the account, the couple had barely begun their honeymoon journey when the groom made a startling confession. While seated on a flight to their destination, he reportedly turned to his bride and said, “This was a mistake,” before withdrawing completely and refusing further communication.

Upon arrival, the bride returned home on the next available flight, while the groom remained behind. It was later alleged that he spent his time at the honeymoon resort engaging in reckless behaviour, further compounding the emotional distress caused.

In the weeks that followed, the bride was left to manage the aftermath of the failed marriage, including returning wedding gifts and responding to guests, while coping with public embarrassment and personal heartbreak.

About a month later, the groom reportedly attempted to reconcile, offering explanations that he “wasn’t ready” for marriage and had felt pressured into the commitment. His efforts, however, were rejected.

The marriage was subsequently annulled.

Sources indicate that the former couple, who share overlapping social and academic networks, now face awkward encounters at public gatherings.

Despite the ordeal, the woman has since moved on with her life. She is now married with three children, a development many observers have described as a testament to her resilience.

The story has sparked varied reactions online, with some users questioning the pressures surrounding early marriage and others pointing to the complexities that can exist behind seemingly ideal relationships.

The incident serves as a reminder, commentators say, that outward appearances of perfection may mask deeper personal uncertainties within relationships.

Bride Abandoned 24 Hours After Wedding as Groom Declares Marriage ‘a Mistake’

 

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Teen Murder Suspect Confesses, Reveals Chilling Details in Ikorodu Killing

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Teen Murder Suspect Confesses, Reveals Chilling Details in Ikorodu Killing

A murder suspect, Anthony Oghenetega, has confessed to his involvement in the killing of a teenager in Ikorodu area of Lagos State, providing chilling details that suggest the crime was carefully planned.

Oghenetega made the confession during an interview on Sahara TV, where he narrated how the victim was allegedly lured and attacked shortly after returning from writing an examination.

According to his account, the teenager had travelled to Epe to sit for the Joint Admissions and Matriculation Board (JAMB) examination and was on his way back when he was deceived by an acquaintance. The suspect disclosed that the victim was persuaded to visit his apartment, where the attack was carried out.

He revealed that both he and an accomplice had prepared for the assault in advance, assembling weapons and materials before the victim’s arrival. Items allegedly used include chains, padlocks, a “Ghana-must-go” bag, a cutlass, and a stick embedded with nails.

The suspect’s statement indicates that the act was premeditated, raising further concerns about the nature and motive of the crime.

Police authorities in Lagos State have confirmed that Oghenetega is in custody, while efforts are ongoing to apprehend other suspects believed to have participated in the incident. The case is being treated as a homicide, with investigators working to establish the full circumstances surrounding the killing.

The incident has sparked widespread outrage among residents of Ikorodu and beyond, with community leaders and civil society organisations calling for swift justice. Many have also urged security agencies to strengthen surveillance and preventive measures to curb rising violent crimes in the area.

Authorities have assured the public that all those found culpable will be prosecuted in accordance with the law.

 

Teen Murder Suspect Confesses, Reveals Chilling Details in Ikorodu Killing

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“No Calls, No Love”: Woman Shares Pain of Being Single at 50

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“No Calls, No Love”: Woman Shares Pain of Being Single at 50

A 49-year-old woman has stirred emotional reactions online after sharing her distress over remaining single and unmarried as she approaches her 50th birthday.

In a video posted on social media, the visibly emotional woman expressed deep frustration about her personal life, revealing that she has never experienced open romantic interest from a partner. According to her, no one has ever directly expressed love for her or indicated a desire to marry her.

She lamented what she described as a complete absence of communication typically associated with relationships, such as phone calls, text messages, or meaningful emotional connections. Comparing her situation with that of others, she questioned why her experience has been markedly different.

As her milestone birthday draws closer in June, the woman said the weight of her situation has become increasingly difficult to bear. She suggested that her prolonged singlehood might be linked to deeper underlying issues and indicated she may seek spiritual guidance in an attempt to understand her circumstances.

Her emotional outpouring has since sparked conversations on social media, with many users expressing sympathy, while others highlighted broader societal pressures surrounding marriage and age.

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“No Calls, No Love”: Woman Shares Pain of Being Single at 50

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