Femi Falana, senior advocate of Nigeria (SAN), has challenged the federal government to confirm or deny if petrol subsidy has been restored.

During his inauguration on May 29, 2023, President Bola Tinubu announced the removal of the petrol subsidy.

This development has worsened the living conditions of Nigerians, as the disposable income of citizens continues to decline due to inflation.

In a statement on Sunday, Falana said Robert Dickerman, chief executive officer of Pinnacle Oil, claimed at a conference in Abuja that the federal government still pays N1 trillion every month for petrol subsidy.

The human rights activist said instead of urging Nigerians to continue to endure the hardship caused by the removal of subsidies on petrol, the president should go public about the state of the economic policy.

“During his inauguration on May 29, 2003, President Bola Tinubu announced the end of fuel subsidies and total deregulation of petroleum products. But at the recently concluded Nigeria International Energy Summit (NIES) held in Abuja, the Chief Executive Officer and Managing Director of Pinnacle Oil and Gas Limited, Mr. Robert Dickerman revealed that the Nigerian Government still pays N1 trillion every month for petrol subsidy,” the statement reads.

“Mr. Dickerman who made the disclosure while participating in a panel discussion disclosed that a significant subsidy is still in place, adding that this has contributed to the affordable price of the product and potentially fueling smuggling activities to neighbouring countries.

“On its own part, the World Bank has alleged partial return of fuel subsidy in a report presented in Abuja last December. In justifying its claim then, the World Bank said that based on the official exchange rate then, the petrol should sell for around N750 per litre and not the N650 currently being paid by Nigerians.

“Curiously, the Nigerian National Petroleum Corporation Limited has not deemed it fit to deny the serious allegation that fuel subsidy has been restored. Since there is no provision for fuel subsidy in the 2023 and 2024 Appropriation Acts, the federal government should, without any further delay, confirm or deny the serious allegation and end the opacity surrounding the importation of fuel from foreign countries.”

Falana also cited a February 2024 report by the International Monetary Fund (IMF) advising the Nigerian government to completely phase out petrol and electricity subsidies in the country despite the president’s announcement.

The House of Representatives Public Accounts Committee has issued a one-week deadline to all private airline operators in the country to account for the sum of N4bn given to them by the Federal Government to tackle the COVID-19 pandemic or refund same in the absence of justifiable evidence of how the amount was spent.

The committee, chaired by a member of the Peoples Democratic Party from Osun State, Bamidele Salam, issued the ultimatum on Friday at the resumed investigative hearing into the alleged mismanagement of the COVID-19 intervention funds by ministries, departments and agencies of the Federal Government.

The PUNCH reports that the committee is investigating over 56 MDAs for alleged mismanagement of the intervention funds.

The committee said, “All private airlines that received COVID-19 relief funds designated to support the aviation sector are to refund the allocated funds to the Federal Government treasury if they fail to give justifiable evidence of how the money was judiciously spent within a week.”

The committee lamented that in spite of their appearance, many airlines and industry stakeholders, including Aero Contractors, Azman and representatives from the Federal Ministry of Aviation and Aerospace Development, could not convince the lawmakers satisfactorily how the funds given to them were expended to manage the COVID-19 pandemic challenge.

The Marketing Manager of Azman Airlines, Odum Uju, who represented the company at the hearing, admitted receiving N367.90m purportedly allocated for various operational expenses, including aircraft maintenance, spare parts, fuelling, forex purchasing, and insurance premium paid while the Station Manager of Aero Contractor, Abdulmalik Musa, said the company received N217.35m from the Federal Government to manage the threat of the coronavirus.

The representative of the Aero Contractor Airline, however, said the fund was used for airport handling and facility payment, fuelling, onboard catering payment, pilot training payments, and lease rental payments.

Reacting to the submissions, a member of the committee and former pilot with the Nigerian Air Force, Ojuawo Adeniyi from Ekiti State, faulted the submissions, saying the services claimed by the operators were applicable only during the regular operations of airlines.

Subsequently, a motion was moved by the member representing Calabar Municipal/Odukpani Federal Constituency, Cross River State, Akiba Bassey, for the refund of N4bn to the Federation Account should the airlines fail to give the committee a satisfactory account of how they spent the COVID-19 intervention funds and same was unanimously supported by his colleagues.

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has questioned two officials of the Central Bank of Nigeria (CBN) and one from the Office of the Accountant-General of the Federation (OAGF) over $3.4 billion loan allegedly granted to Nigeria by the International Monetary Fund (IMF).

Naija News reports that the anti-graft agency has also invited another set of officials from the Federal Ministry of Finance for interrogation.

Recall that the Socio-Economic Rights and Accountability Project (SERAP) has approached the court over what it alleged as “the failure to probe the grim allegations that the $3.4 billion” was missing.

SERAP, in a statement to Naija News, said it had filed a lawsuit against President Bola Ahmed Tinubu for failing to probe the $3.4 billion loan that was either “missing, diverted or unaccounted for.”

It said its lawsuit was in line with Section 16(1) and (2) of the 1999 Constitution.

The organization also said it sued the President, having taken cognizance of articles 5, 9, and 26v of the UN Convention Against Corruption.

But speaking to The Nation, a source disclosed that the ICPC has retrieved vital documents on the loan, which was meant to finance the budget and to manage COVID-19, adding that the probe of the loan was already in progress.

The source said: “ICPC has launched a comprehensive investigation into the $3.4 billion loan. The commission began the probe after it had reviewed the report of the Auditor-General of the Federation. Our investigators are trying to establish if the cash was missing, diverted, or unaccounted for.

“The documents relating to the loan were retrieved from the CBN, the OAGF, and the Ministry of Finance.

“Some CBN and OAGF officials were interviewed, and the officials of the Ministry of Finance will be interviewed in the coming (this) week.

“Documents retrieved and statements from the officials of the OAGF revealed that the utilisation of the funds were as directed by the Ministry of Finance.

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“Investigation is ongoing into the various approval and utilisation of the funds by the beneficiaries.”

…No account blocked yet–DMBs

…Technical hitches sabotaging NIN linkage, customers cry out

…Give customers more time –BCAN

ABOUT 91 million bank accounts are at risk of being frozen following the March 1 expiration deadline given by the Central Bank of Nigeria (CBN) to commercial banks to get all accounts linked with customers’ Bank Verification Number (BVN) or National Identity Number (NIN).Daily Sun learnt that many banks sent fresh and final reminders to depositors at the weekend urging them to use various digital platforms to regularize their accounts or visit any of
their branches to achieve that.

The CBN directed banks to restrict tier-1 accounts or wallets without NIN or BVN in a notice on December 1, 2023 signed by the Director of Payments System Management Department, Chibuzo Efobi and Director of Financial Policy and Regulation Department, Haruna Mustapha. The statement said; “For all existing Tier-1 accounts/wallets without BVN or NIN: Effective immediately, any unfunded account/wallet
shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied.
“Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’, and no further transactions will be permitted. The BVN or NIN attached to and/ or associated with all accounts/wallets must be electronically revalidated by January 31, 2024. In response to the directive, Nigerian banks sent out notifications to customers and urged them to come forward and update their bank account information with their BVN/NIN before Friday, March 1, 2024,deadline.

The banks warned that customers who fail to provide the required information risk being unable to carry out transactions. While the CBN has not officially spoken on the fate of customers whose accounts are without NIN or BVN, many depositors are panic-stricken as they flood various banks to sort out the issue. The Nigeria InterBank Settlement System (NIBSS) revealed that BVN linked accounts stood at 60,492,104 million as at January 26 march.

[Sun]

National Emergency Management Agency (NEMA), has said the looted warehouse in Abuja, yesterday, does not belong to the agency as was reported in some sections of the media.

It was earlier reported that residents of the Federal Capital Territory yesterday looted a warehouse reportedly belonging to a government agency, with some reports alleging that the warehouse belonged to the National Emergency Management Agency over the current economic hardship across the country.

Hoodlums broke into a government storage facility in Gwagwa town in the Federal Capital Territory (FCT) yesterday, and looted stored food items. Some residents said youths in their number broke into the warehouse located around Tasha area of the community around 7 am, looting bags of maize and grain.

Some residents said youths in their number broke into the warehouse located around Tasha area of the community around 7 am, looting bags of maize and grain. A resident, Jaafar Aminu, said the looting continued unhindered till 9 am.

He said some residents as well as persons from neighbouring Jiwa and Karmo town trooped towards the site with the intention of partaking in the loot.

He said the situation has caused a grid lock on Gwagwa-Karmo road, that leads to Dei-Dei and Jabi axis, respectively.

However, NEMA, in a statement by Ezekiel Manzo, said: “The attention of the National Emergency Management Agency (NEMA), has been drawn to media reports on Sunday alleging that the Agency’s warehouse was looted by some hoodlums in Abuja.

“This is to clarify that the looted warehouse does not belong to NEMA. However, the agency sympathizes with owners of the looted facility.”

He said, “To forestall any security breach at NEMA facilities, the director general, Mustapha Ahmed has directed zonal directors and heads of operations to strengthen security in and around the Agency’s offices and warehouses nationwide.”

[Leadership]

Salihu AbdulHadi Kankia, a member of the First Aid Group of Jama’atu Izalatil Bid’ah Wa Iqamatus Sunnah (JIBWIS), was showered with rewards for returning a lost bag containing over N100 million.

The recognition came during the closing ceremony for Islamic scholars  presenting this year’s Ramadan Tafsir in Bauchi.

Engr Mustapha Imam Sitti, National Director of the First Aid Group who introduced Kankia commended him for the act.

In a post published on its Facebook page, the Bauchi State branch of JIBWIS said, “Kankia found a bag containing a large sum of money, exceeding one hundred million naira.

“Instead of keeping it for himself, he rushed to the police station and reported his discovery, the police successfully located the owner, who upon verifying the contents, confirmed nothing was missing.”

The post added that “Kankia’s honesty didn’t go unnoticed, The Izala group honored him with an award and sponsored his Hajj pilgrimage this year.

“Additionally, Hon. Abdulmalik Zannan Bangudu, a member of the Zamfara State Assembly, gifted him two million naira.

“Governor Bala Abdulkadir Mohammed of Bauchi State also presented Kankia with a bus to kickstart a business venture.”

[Dailytrust]

The Inspector-General of Police, IGP, has told a Federal High Court in Abuja that the military forcefully took away some suspects allegedly involved in oil bunkering from police custody.

Counsel to the IGP, Idris Mohammed, revealed this to Justice James Omotosho when the matter was called for the alleged oil bunkerers to take their plea in a five-count criminal charge filed against them.

The IGP had, in an earlier charge marked: FHC/ABJ/CR/60/2024, listed 19 alleged oil bunkerers for prosecution.

They include MT Harbor Spirit, Muhammad Malik Sidique, Joju Oil and Gas Ltd, Shittu Joseph, Enudi Kenneth Amechi, Jeremiah Oberhiri Nyohe, Abiodun Kolapo Joseph, Razaq Mahmud, Onwe Jonas Egana, Jeremiah Fezighe Gilbert as 1st to 10th defendants.

Also joined in the criminal charge dated and filed February.15 are Idon Simeon Amon, Adedeji Nathaniel Thomson, Effiong Ekpo Otu, Preye Moses Egbuson, Opoufoni Owei, Abiodun Razaq, Youngstar Amon, Collins Ebuka Eluche and Taiye Rashid Balogun as 11th to 19th defendants respectively.

However, the police, in an amended charge dated and filed February 28, brought criminal charges against only MT Harbor Spirit, a Vessel, Muhammad Malik Sidique and Joju Oil and Gas Ltd as 1st to 3rd defendants, respectively.

In the amended charge, count one read that MT Harbor Spirit, Muhammad Malik Sidique, Joju Oil and Gas Ltd and the 4th to 19th defendants in the earlier charge (now at large) “on February 4, 2024, in the Deep Sea in Ogbogoro Oil Field, Brass Area of Bayelsa State, conspired” to tamper with oil pipeline for the transportation of crude oil.

The offence, according to the prosecution, is punishable under Section 1(7) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation of Nigeria 2004.

In count two, the defendants and others now at large were alleged to have on February. 4 in the Deep Sea in Ogbogoro Oil Field, Brass Area of Bayelsa State, wilfully tampered with OML 59, Ogbogoro 001 Oil Field, operated by ELF for the transportation of crude oil.

In count three, the defendants were alleged to be dealing in about 80, 000 litres of crude oil without lawful authority or appropriate license.

Count five accused the defendants of storing about 80, 000 litres of crude oil in MT Harbour Spirit Cargo Tanks in the Deep Sea in Ogbogoro Oil Field without appropriate licence contrary to Section 4 of the Petroleum Act, Cap P10, Laws of the Federation of Nigeria, 2004.

However, at the point of taking their plea, the IGP’s lawyer, Mohammed, informed the court that Muhammad Malik Sidique was the only defendant in court.

He said though a five-count charge dated and filed on February 15 was preferred against 19 defendants and that the 4th to 19th defendants were forcefully taken away by the armed forces during one of their visits to their custody.

The lawyer prayed the court to issue warrant of arrest against the 4th to 19th defendants who he alleged were at large.

But Justice Omotosho faulted Mohammed for claiming that the 4th to 19th defendants were at large when he had earlier told the court that the armed forces forcefully took them away.

The judge frowned at the abuse of the word “at large” adding that such words are used for suspects or defendants whose whereabouts are unknown.

“With what you have said that the armed forces took them to their custody, are they at large? At large is when somebody cannot be traced,” the judge said.

The IGP’s lawyer, thereafter, sought the leave of court to amend the amended charges in open court.

But the judge observed more anomalies with the charge sheet and then ordered the prosecution to go and put his house in order.

“Go and serve them there (at the military custody) and bring them or you remove their names from the charge. We are here for justice. I don’t know them,” he directed.

The IGP’s lawyer, then, told the judge that the police did not hand over the defendants to the military, rather, they forcefully took them away from their custody.

Counsel for the defendants, Michael Mbanefo, did not oppose to the further amendment of the charge.

However, Mbanefo urged the court to direct the prosecution to agree with him and grant Sidique administrative bail because he had been in custody since his arrest.

But Justice Omotosho declined, saying “the court does not grant administrative bail”.

Justice Omotosho thereafter adjourned the arraignment of the alleged oil bunkerers til March 6.

[DailyPost]

Femi Falana, senior advocate of Nigeria (SAN), has challenged the federal government to confirm or deny if petrol subsidy has been restored.

During his inauguration on May 29, 2023, President Bola Tinubu announced the removal of the petrol subsidy.

This development has worsened the living conditions of Nigerians, as the disposable income of citizens continues to decline due to inflation.

In a statement on Sunday, Falana said Robert Dickerman, chief executive officer of Pinnacle Oil, claimed at a conference in Abuja that the federal government still pays N1 trillion every month for petrol subsidy.

The human rights activist said instead of urging Nigerians to continue to endure the hardship caused by the removal of subsidies on petrol, the president should go public about the state of the economic policy.

“During his inauguration on May 29, 2003, President Bola Tinubu announced the end of fuel subsidies and total deregulation of petroleum products. But at the recently concluded Nigeria International Energy Summit (NIES) held in Abuja, the Chief Executive Officer and Managing Director of Pinnacle Oil and Gas Limited, Mr. Robert Dickerman revealed that the Nigerian Government still pays N1 trillion every month for petrol subsidy,” the statement reads.

“Mr. Dickerman who made the disclosure while participating in a panel discussion disclosed that a significant subsidy is still in place, adding that this has contributed to the affordable price of the product and potentially fueling smuggling activities to neighbouring countries. 

“On its own part, the World Bank has alleged partial return of fuel subsidy in a report presented in Abuja last December. In justifying its claim then, the World Bank said that based on the official exchange rate then, the petrol should sell for around N750 per litre and not the N650 currently being paid by Nigerians.

“Curiously, the Nigerian National Petroleum Corporation Limited has not deemed it fit to deny the serious allegation that fuel subsidy has been restored. Since there is no provision for fuel subsidy in the 2023 and 2024 Appropriation Acts, the federal government should, without any further delay, confirm or deny the serious allegation and end the opacity surrounding the importation of fuel from foreign countries.”

Falana also cited a February 2024 report by the International Monetary Fund (IMF) advising the Nigerian government to completely phase out petrol and electricity subsidies in the country despite the president’s announcement.

[TheCable]