Mohammed Shosanya

The upper chamber of the National Assembly has threatened to use the anti-graft agencies to recover the N135 billion Central Bank of Nigeria (CBN) intervention funds to some firms in the oil and gas sector.

The Senate Committee on Gas Resources probing the whereabout of the money, which made the threat on Thursday, said it will recover the money from defaulting beneficiaries.

The 14 affected companies, appeared before Senate panel to defend the utilisation of the loans they collected.

Members of the panel, who noted that there was no synergy between the Ministry of Petroleum Resources and the CBN on the project, queried the discriminatory disbursement of the funds to the beneficiaries and wondered why some firms collected more than the N10 billion credit limit.

Collecting the records of the beneficiary for immediate investigations, the Chairman of the Committee, Senator Agom Jarigbe, noted that the funds released under the gas expansion and intervention fund were inappropriately accessed.

The lawmaker tasked the committee to ensure that the companies actually expended the funds on what they collected it for.

He said: “The observation of the committee is that there are inconsistencies in the process and the committee may not hesitate to involve the Economic and Financial Crimes Commission to recover the funds.

“Some of the beneficiaries did not follow the guidelines. For instance, the Ministry of Petroleum Resources is not even aware that the funds had been released.

“The guidelines stated clearly without ambiguity that they are supposed to do evaluation at the ministry before the list of the qualified ones would be sent to the CBN for them to access the loans but that was not done properly.

“We have also discovered that some of the companies does not have anything on ground since they got the loan.The committee would investigate all the observations and work on them and let Nigerians know the true position of things.”

The Legal Adviser to one of the beneficiaries, Lee Engineering and Construction Company, Mathew Agbadon, didn’t take the development lightly, noting that the publication made by the committee had put the firm in a negative perspective.

He told the committee that there has been a fundamental misconception out there in the public domain that some people just leverage on the CBN money, stole it and went away.

According to him, “that is far from the truth. The truth of the matter is that as a beneficiary of that scheme, we had business with the commercial bank.

“The discussion was done at the commercial bank level and due diligence was done and our application was approved.

“Based on the application we accessed the facility as an organization.Lee Engineering has been in the oil and gas industry for 32 years with over 4, 000 employees.

“This particular project is one of the outfits of Lee Engineering and it is located Warri, Delta State.

“If the Committee is ready to visit the project today, we are ready for it. It is 90 per cent completed.

“It is billed for commissioning in the first quarter of next year. In fact we are looking forward to President Bola Tinubu to commission the project being the first of its kind in this part of the World.”

The Ministry in 2021 initiated the National Gas Expansion Programme (NGEP) to encourage domestic utilization of gas in the country.

The Director of Gas in the Ministry, Oluremi Komolafe told the Committee that the Ministry was not aware of the disbursement of the fund despite the fact that it partnered with the CBN on the scheme.

She added that 150 applications were received, and that 69 companies were recommended and presently 16 applications are being processed.

Mohammed Shosanya

The Oyo State Government has announced the presentation of staff of office and coronation of the new Aseyin of Iseyin, Ọba Sefiu Olawale Oyebola, Adeyeri III, Ajirotutu I and the Soun of Ogbomoso, Ọba Afolabi Ghandi Laoye, Orumogege III.

In a statement signed by the Commissioner for information and civic orientation, Prince Dotun Oyelade, the Aseyin coronation will be on December 14, 2023 while that of Soun will be on December 19, 2023.

The state government has set up a coronation committee headed by the Chief of Staff to the Governor, Otunba Segun Ogunwuyi, including the commissioner for local government and chieftaincy matters, Mr Segun Olayiwola, the commissioner for culture and tourism, Dr. Wasiu Olatunbosun, the commissioner for information and civic orientation, Prince Dotun Oyelade and the Executive Assistant to the Governor on Security, Retired Commissioner of Police Sunday Odukoya as members of the committee.

The committee has been holding meetings with coronation committees from the two palaces over the past few weeks and had undertaken inspections of the venues for the events.

“All is now set for the big events”, the Government representatives said.

“The state government hereby seizes this opportunity to enjoin members of the public to show full support for the success of the events”.

Mohammed Shosanya

Officials of the Federal Capital Territory Administration (FCTA) and security personnel have uncovered an illegal oil refining warehouse in Mabushi, opposite the Mobile filling station on Ahmadu Bello way in Abuja.

Mukhtar Galadima, the Director of the Department of Development Control, FCTA, disclosed that the illegal refining site was discovered during the city cleaning exercise.

Three to four plots designated for commercial purposes were identified as locations where oil and diesel were being adulterated and circulated to other parts of the city.

Galadima stated that the city sanitation task force would examine the legal provisions and make recommendations to the FCT Administration for further actions regarding the plots used for these illicit activities. While no arrests were made, items used in the illegal refining process were impounded.

“During the continuation of our city sanitation exercise in Mabushi opposite Mobile filling station on Ahmadu way, we discovered an illegal refining site where oil and diesel are being adulterated,” said Galadima, emphasizing that consequences would follow for the unauthorized conversion of commercial plots.

He added:”We are going to look at the provision of the law and make necessary recommendations to the FCT Administration”

The administration, according to Galadima,will continue to take stringent measures against activities carried out without government approval, including the revocation of titles.

Deborah Osho, Head of Operations at FCT Directorate of Road Traffic Service (DRTS), collaborating in the operation, revealed that besides the illegal oil refining warehouse, the city management team also discovered widespread conversion of areas in the Nation’s capital into illegal car marts and motor parks. Fifteen vehicles have been impounded since the commencement of the operation two days ago.

Mohammed Shosanya

Rasheed Komolafe,
Publisher of GREATRIBUNETVNEWS,has described as salutary the new task given to the Deputy Governor of Oyo State,Barrister Bayo Lawal to supervise three key Ministries in the state

He congratulated the number two man in the state,saying he should not rest on his oars to add value to the governance structure in Oyo State.

Governor Seyi Makinde had last week appointed Barrister to oversee three key Ministries and Oyo state Housing Corporation as part of the moves to run them optimally with a view to delivering dividends of democracy to the people.

The deputy governor had already met with the heads of the ministry and drew a roadmap on how best to run the task.

Rasheed Komolafe,in his congratulatory statement, said the deputy governor’s new task was a round peg in a round hole in view of his acumen and uncommon brilliance

According to him,Barrister Lawal has always performed creditably well in private and public service before he was appointed as the number two person in the state.

Recalling,the deputy governor’s mercurial performance when he was the Chairman/CEO of Oyo State Housing Corporation,Komolafe said his legacy in the agency stands tall and has continued to serve as reference point after his exit from the agency.

”Barrister Lawal is a brilliant and successful lawyer.His knowlege and practice of the law,not only prepared him for multiple tasks ahead,which he meticulously executed,but endeared him to people from several divides”,he added.

He expressed optimism that deputy governor will bring to bear his administrative acumen,knowledge, and expertise on the new task given him with a view to ensuring optimal performance.

He lauded Governor Seyi Makinde for giving his deputy the current task,saying the development shows the former belief in the capacity of the latter to deliver effectively.

Mohammed Shosanya

The Ekiti State Governor, Biodun Oyebanji has approved the distribution of free CAC certificates to Nano, Micro Small and Medium Enterprises( NMSMEs and business owners in the state.

The beneficiary business owners are those who enrolled in the free CAC registration scheme under the immediate- past administration of Dr Kayode Fayemi in 2022.

The Ekiti State Commissioner for Trade & Investments, Mrs Omotayo Adeola,who disclosed this, in a statement also hinted that the collection of CAC certificates would commence immediately after the flag-off program at the Ministry of Industry, Trade & Investment.

This follows the partnership between SMEDAN and Sterling bank to provide access to finance through single digit soft loan for NMSMEs between 250,000 to 2 million naira.

The distribution of the free CAC certificates is to enable Ekiti NMSMEs and business owners benefit from the SMEDAN & Sterling bank soft loan to which CAC registration is a compulsory requirement.

The distribution of the CAC documents would commence after the flag-off ceremony which is slated to take place at Conference hall, Governor’s office, Ado Ekiti Monday, 4th of December, 2023.

Mohammed Shosanya

Dr. Oladele Alake, Minister of Solid Minerals Development, and Geoffrey Pratt, United States Assistant Secretary for Energy and Natural Resources, have initiated talks on financing mining projects and infrastructures in Nigeria.

The talk was initiated on the sidelines of the Mines & Money conference in London.

The agreement entails the establishment of a joint team comprising officials from both countries to delve into financing options, extending credit to mining firms, and bolstering infrastructure in the mining sector.

Pratt’s visit to Alake was sequel to a prior meeting with President Bola Ahmed Tinubu, where Tinubu sought U.S. support for Nigeria’s economic revival.

He expressed the U.S.’s interest in becoming Nigeria’s preferred partner in developing the solid minerals sector.

He highlighted the U.S.’s encouragement of direct foreign investment through various institutions and laws and pledged to collaborate with Nigerian counterparts in framing the necessary framework.

Alake welcomed this initiative, stating that the Ministry of Solid Minerals Development has outlined a seven-point agenda as a roadmap to revitalize the sector.

The agenda includes the establishment of the new Solid Minerals Development Company, a revamped security architecture for mine operations’ safety, and extensive data generation to mitigate risks in the sector.

He emphasized that the credit facility and foreign direct investment promised by the U.S. align with the mutual interests of both nations.

He pointed out that minerals like lithium, crucial for clean energy globally and essential for manufacturing electric cars, make this collaboration significant.

Hajiya Fatima Shinkafi, the executive secretary of the Nigerian Solid Minerals Fund, commended the U.S. for its investment in mining infrastructures in Central Africa.

She encouraged a similar partnership with the Fund, reinforcing the collaborative efforts between Nigeria and the United States in advancing the mining sector.