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Crude theft: How security operatives, govt officials run bunkering cartel, Govt sets Tompolo against big oil thieves to outwit the powerful players?

•How Sylva, NNPC Kyari brokered new deal; the Senator Omo-Agege connection •Misguided backlash from Arewa youths,  counter attack •Ex-militant leader to collaborate with JTF, engage ex-agitators, stakeholders “It is indeed disturbing that under the APC administration, according to official reports, oil thieves are having a field day stealing up to 400,000 barrels of crude oil every day. This amounts to a daily siphoning of about $40m ..”There is no way they will arrest the big-time oil thieves under the…

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20 directors jostle to replace fired AGF

Head of Civil Service of the Federation, Dr. Folasade Yemi-Esan. By Advocatenewsng.com. THE Federal Government has issued a circular for the appointment of a new and substantive Accountant-General of the Federation, The PUNCH has learnt. In a circular dated June 21, 2022, emanating from the Office of Head of Civil Service of the Federation, Dr Folasade Yemi-Esan, the Federal Government said, “Following the approval of Mr President, the Office of the Head of Service of the Federation is commencing…

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European energy firm mulls to acquire national assets through prominent Nigerians

By Advocate News Online. A European owned energy company with the knack for pursuing cheap assets across Africa is at it again. This time, we gathered reliably that its resolve is to stop at nothing until the Nigerian asset is craftily acquired. The same company that acquired assets in Niger and Cameroon a few years back is fiercely gunning for a Nigerian company with a subsidiary in one of the popular tax haven Islands and would stop at nothing…

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Agbara Industrial Park: The manufacturing hub of West Africa

Agbara Industrial Park. Focus.   MANUFACTURERS have since inception searched for suitable locations to produce their wares effectively. In the early 70´s the visionary entrepreneur, the late Chief Adeyemi Lawson, created West Africa’s premier industrial hub in Agbara, just 26 km west of Lagos. Rapidly this industrial enclave became the hotspot for a wide range of manufacturing companies, attracting local and international players to Agbara Industrial Park. With a 454 Ha development, it is located between the two port…

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Implications of new CAMA 2020 on businesses, investors in Nigeria

By Editor.  President Muhammadu Buhari on 7th August, 2020 assented to the Companies and Allied Matters Bill, 2020. This is the first reform of CAMA, one of the most important pieces of business legislation in Nigeria, since it was first introduced 30 years ago.  Changes that the revised Bill introduces include the following (not an exhaustive list): The revised Act allows single member/shareholder companies to be incorporated in Nigeria – before now the minimum number of shareholders was two (2)….

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$2.5bn alleged stolen crude: Frank asks Buhari to sack NNPC GMD, Kyari

NNPC GMD, Mele Kyari. By Editor. Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has called for the immediate sack of the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Engr. Mele Kyari, over his complicity in the alleged $2.5billion stolen crude oil sold in China. An online news platform recently revealed that about 48 million barrels of Nigeria’s Bonny Light Crude, valued at $2.5 billion was stolen, sold in…

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Tension as Keystone Bank, 9Mobile acquisition by AMCON MD’s father-in-law unsettles shareholders

By Editor. Following the controversy generated by the leading opposition party, the People’s Democratic party, PDP, over the alleged acquisition of Keystone Bank and Etisalat (now 9Mobile) by late Alhaji Isa Funtua, the father-in-law of the CEO of Asset Management Company of Nigeria, AMCON, Ahmed Kuru, President Muhammadu Buhari is said to have ordered probe into the alleged fraud.A highly placed source at the headquarters of the Economic and Financial Crimes Commission, EFCC said that the President was thoroughly…

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NIDA awards: Stakeholders to explore creative infrastructure funding

Lanre Alabi, Coordinator of NIDA Awards. By our Correspondent. Stakeholders comprising policy makers, corporate experts, venture capitals, development agencies, private sector operators and others will gather in Lagos on Thursday, 5th December to explore creative and enduring options to infrastructure funding in Nigeria. According to the coordinator and a chief strategist, Mr, Lanre Alabi, former Executive Vice Chairman of the Nigerian Communications Commission (NCC), Chief Earnest Ndukwe, will chair the NIDA Award Nite and lead other discussants including the…

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Nigerians laud Buhari on Social Investment Programme, seek improvement, better funding

Mrs. Mariam Uwais, Esq, SA to President on SIP. By Ibeawuchi Ambs Uwaleke. A cross section of Nigerians have commended President Muhammadu Buhari’s administration for the idea and implementation of the Social Investment Programme (SIP) which is impacting positively on the people irrespective of their social, cultural or religious backgrounds in the society. In a poll conducted by this Medium, a lot of them showed appreciation for the President for the laudable programme his government created to assist Nigerians…

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House sub-committee probes 100 companies over alleged sharp practices

    House of Representatives in Plenary The House of Representatives sub-committee of the Capital Market on Regulation and Compliance has commenced probe into alleged sharp practices by some Public Limited Companies (PLCs) following plethora of petitions by shareholders in the sector. Chairman of the sub-committee, Rep. Tony Nwulu, told newsmen in Abuja that the investigation was designed to sanitise the capital market and restore investors’ confidence in the sector. According to him, over a 100 PLCs have been…

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