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$3bn refinery fraud: N80bn found in sacked MD’s bank accounts

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The Economic and Financial Crimes Commission has arrested the recently sacked managing directors and some top officials of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company.

The officials were arrested over alleged mismanagement of funds earmarked for the rehabilitation of the facilities. The total amount under investigation is $2,956,872,622.36.

Findings by Saturday PUNCH showed that the EFCC is probing the sum of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

The ex-Managing Director of Port Harcourt Refining Company Ltd is Mr Ibrahim Onoja, while Efifia Chu served as the ex-Managing Director of the Warri Refining and Petrochemical Company Ltd.

This came as impeccable top management sources at the Nigerian National Petroleum Company Limited revealed that N80bn was found in the account of one of the sacked MDs.

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Also, operators and experts in the sector lambasted NNPCL for deceiving Nigerians regarding the operations of the refineries, particularly the Port Harcourt and Warri plants, following the poor output from the facilities since their resumption of operations in November and December 2024.

Dashed hope

NNPCL manages the three refineries for Nigerians. The plants had remained dormant for decades, but the Port Harcourt and Warri refineries resumed operations in November and December 2024, respectively.

However, less than one month after the Warri refinery resumed operations, the plant was again shut down due to safety concerns.

The Port Harcourt refinery, on the other hand, has been operating below 40 per cent of its capacity since its widely celebrated revamp.

On Tuesday the new NNPCL management fired the managing directors of the three refineries under its purview.

Some other senior officials of the national oil firm were also asked to leave; among them was Bala Wunti, a former chief of the National Petroleum Investment Management Services, a subsidiary of the NNPCL.

The new management also asked many officials with one year to their various retirement dates to leave.

Arrest of suspects

A senior EFCC source revealed that the arrests of the three ex-MDs and top officials were part of an ongoing investigation into the billions of dollars released for the quick-fix maintenance of the three state-owned refineries.

“We are investigating the money that was released for the rehabilitation of all three refineries—money disbursed in recent times. All the principal officers within that time frame are being invited.

“Some have been arrested already, and we are still on the lookout for others. Nigerians are interested in seeing our refineries work. We are asking: where is the money, and what has happened to the refineries?” the official said.

The source added that the investigation was far-reaching, covering all key actors involved in the management of the refineries during the period in question.

The EFCC spokesman, Dele Oyewale, could not be reached as of the time of filing this report.

Earlier, sources at the NNPCL told Saturday PUNCH that one of the sacked MDs had been with the EFCC for about a week.

“Large amounts have been discovered in his accounts. About N80bn has so far been discovered in his various accounts. The way things are going, it may be bigger than Emefielegate,” the official, who spoke in confidence due to the nature of the probe, stated.

Another official stated, “All the three of them are being investigated by the EFCC. It is indeed sad!”

Kyari under probe

A document obtained by our correspondent on Friday from NNPCL, dated April 28, 2025, and titled, ‘Investigation Activities: Request for Information’, indicated that the probe by EFCC included the immediate past Group Chief Executive Officer of the national oil firm, Mele Kyari.

The EFCC document was addressed to the Group Managing Director (Group Chief Executive Officer) of the national oil company and contained the names of 13 other former senior executives of the NNPCL.

“The commission is investigating a case of abuse of office and misappropriation of funds in which the underlisted officials of your organisation featured,” the document stated.

It outlined the officials to include Abubakar Yar’Adua, Mele Kyari, Isiaka Abdulrazak, Umar Ajiya, Dikko Ahmed, Ibrahim Onoja, Ademoye Jelili, and Mustapha Sugungun.

Others are Kayode Adetokunbo, Efiok Akpan, Babatunde Bakare, Jimoh Olasunkanmi, Bello Kankaya and Desmond Inyama.

“In view of the above, you are kindly requested to furnish certified true copies of their emoluments and allowances, including that of those who have retired and no longer work with your organisation,” the anti-graft commission told the NNPCL boss.

The spokesperson for the NNPCL, Olufemi Soneye, has remained mute over allegations against top officials of the company, as he ignored repeated enquiries on the matter.

Lies uncovered

Although this is not the first time the company has feigned the effectiveness of its operations, citizens have noted that the lack of transparency not only deepens public distrust but also fuels speculation about the company’s true intentions and the actual state of Nigeria’s oil infrastructure.

On Tuesday the NNPCL came under fire as the $897m Warri refinery revamp flopped.

The $1.5bn newly repaired Port Harcourt refinery had been struggling at under 37.87 per cent production capacity.

This was after the revelation that the Warri Refining and Petrochemical Company had remained shut since January 25, 2025, due to safety issues in its Crude Distillation Unit Main Heater.

An April 2025 document on the Midstream and Downstream sector obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority revealed that the refinery, which consumed $897.6m in maintenance costs, failed to produce Premium Motor Spirit (petrol) and was shut down barely a month after former NNPCL boss, Kyari, declared it operational.

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Police raise alarm over planned attacks on worship centres, schools, NYSC camps

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IGP Olatunji Disu
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The Nigeria Police Force has placed its formations nationwide on red alert following intelligence reports of planned terrorist attacks on worship centres, schools, NYSC orientation camps and other public places.

The alert followed fresh intelligence indicating increased mobilisation of terrorist elements for possible coordinated attacks on vulnerable targets across the country.

Police authorities also reportedly received intelligence on the movement of armed elements from Katsina through Kaduna towards Plateau State.

The operational order was contained in a police wireless message dated September 13, 2026, with reference number CB: 0900/FDPS/DOPS/FHQ/ABJ/VOL38/68, issued by the Department of Operations at Force Headquarters, Abuja.

Marked “Security General” and tagged “Treat as Very Important,” the message was circulated to Assistant Inspectors-General of Police overseeing Zones 1–17, Mobile Police formations, counter-terrorism and other specialised units, as well as Commissioners of Police in the 36 states and the Federal Capital Territory.

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The police directed formations to intensify vigilance and take proactive measures to prevent criminal and terrorist elements from carrying out attacks.

The warning specifically highlighted places of worship, educational institutions, NYSC orientation camps and other vulnerable public locations as potential targets.

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Atiku tackles Tinubu over N1,400 fuel price, demands probe of FAAC allocations

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‘Who is in charge of Nigeria presently?’, Atiku queries Tinubu, Shettima’s absence
Atiku Abubakar and President Bola Tinubu
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Former Vice President Atiku Abubakar has faulted the administration of President Bola Tinubu over the current pump price of petrol, noting that Nigerians are now paying as much as ₦1,470 per litre even though crude oil, at $102.52 per barrel, sells for far less than the $147 per barrel it fetched in 2008 when petrol sold for ₦65 per litre under the late President Umar Musa Yar’Adua.

In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku accused the Tinubu administration of presiding over what he described as an organised system of grand larceny against the Nigerian people, built around opaque Federation Account FAAC deductions, questionable management of oil revenues, parallel funding arrangements and allegations of off-book transactions.

“With crude oil around $102.52 per barrel, Nigerians are paying as much as ₦1,470 per litre. In 2008, when crude oil reached about $147 per barrel, petrol sold at ₦65 per litre under the Yar’Adua administration. The difference is that government then understood that economic policy must ultimately protect the welfare of citizens,” he said.

The Presidential Candidate of the African Democratic Congress ADC said it is unconscionable for a government that has extracted unprecedented sacrifice from citizens in the name of subsidy removal to keep raising the cost of survival while refusing to provide a clear, verifiable account of the revenues, savings and deductions accumulated under its watch.

He recalled that Nigerians were told subsidy removal would free resources for education, healthcare, infrastructure and other essential services, yet nearly three and a half years later, fundamental questions remain unanswered about where the money has gone.

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“Petrol at ₦1,470 per litre is not merely a figure at the filling station. It enters the price of transportation, food, school runs, farming, manufacturing and virtually everything Nigerians buy. Every increase at the pump travels directly into the household budget.

“After all the pain imposed on Nigerians, they have a right to ask: where are the subsidy savings and where is the money?”, he queried.

Atiku said official FAAC records themselves justify greater scrutiny, pointing out that in June 2025, gross Federation Account revenue was reported at ₦4.232 trillion while only ₦1.818 trillion was eventually distributed, with substantial sums categorised as cost of collection, transfers, interventions, refunds and savings.

He demanded a comprehensive reconciliation of Federation Account revenues from 2023 to date, showing gross collections, every deduction made before distribution, the statutory authority for each deduction, the receiving accounts and the ultimate beneficiaries.

“Nigerians deserve accounts they can interrogate, not accounting labels designed to discourage questions,” he said.

The former Vice President also called for full disclosure around the Renewed Hope Infrastructure Development Fund, OML 143, oil-production revenues, the Nigerian National Petroleum Company NNPC’s international Liquefied Natural Gas LNG trading operations, offshore corporate structures and allegations involving unofficial crude lifting, maritime surveillance contracts and other possible off-book revenue flows.

“These allegations are too serious to be answered with press statements and political insults. Every barrel can be measured, every cargo identified and every legitimate payment traced. If everything is in order, publish the records and allow independent forensic auditors to reconcile them. If the allegations are false, the records will clear the government,” he said.

Atiku equally rejected attempts to use the current international crisis as a blanket excuse for rising domestic fuel prices, drawing attention to the widening gap between what Nigerians earn and what they now pay at the pump compared to other climes.

“At about $4.31 per gallon, U.S. petrol is roughly $1.14 per litre. Yet while the U.S. federal minimum wage is $7.25 per hour, Nigeria’s minimum wage is only ₦70,000 per month.

“Tinubu has brought Nigerians close to American fuel prices while leaving them with Nigerian poverty wages. That is the true cost of his subsidy-removal policy”, he said.

He insisted that the administration can no longer demand endless sacrifice from citizens while treating public accountability as optional.

“After all the oil, all the revenue, all the deductions and all the hardship, petrol is now ₦1,470 per litre. The question Tinubu must answer is simple: where are the savings, where are the revenues, and who is taking Nigeria’s money?”

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Police, military neutralise terrorists, recover rifles, ammunition, motorcycles in Kebbi

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Items recovered by the Nigerian Police
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The Kebbi Police Command, in collaboration with the military, has neutralised some suspected terrorists and recovered rifles, ammunition, motorcycles, and other items during a clearance operation in Gumki Forest, Kangiwa.

The Police Public Relations Officer (PPRO), SP Bashir Usman, disclosed this in a statement issued on Monday in Birnin Kebbi.

He said the operation was conducted at about 6:05 a.m. on Monday, adding that Gumki Forest, Arewa Local Government Area, was a known route used by bandits and Lakurawa elements operating in the area.

He said the joint security team successfully engaged the terrorists during the operation and neutralised some of them.

According to him, the operation also led to the recovery of one PKT rifle with 174 rounds of live ammunition and one AK-47 rifle with 14 rounds of live ammunition.

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Other items recovered, he said, included a pair of military camouflage uniforms, a pair of boots, two mobile phones, charms, and four motorcycles.

“The area remains relatively calm, while joint operations are ongoing to further clear the area and rid the state of criminal elements,” he said.

Usman quoted the Commissioner of Police, CP Umar Hadejia, as commending the operatives for their gallantry and dedication to duty.

Hadejia reiterated the command’s commitment to sustaining coordinated and intelligence-led operations with other security agencies to counter banditry, terrorism, and other forms of criminality in the state.

He also urged members of the public to continue providing timely and credible information to security agencies to support ongoing efforts to safeguard lives and property.

The commissioner assured residents of the command’s determination to work with other security agencies to maintain peace and security across the state. (NAN)

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