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NNPCL refutes claims of inappropriateness in disengagement of Kyari, Ajiya from NNPC

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THE NNPC Limited has refuted claims of inappropriateness in the disengagement of Mele Kyari, and Umar Ajiya, as group managing director and group executive director, Finance and Accounts, respectively, from the Nigerian National Petroleum Corporation, NNPC.

In a statement by Garba Deen Muhammed, chief corporate communications officer, NNPCL,  on Saturday, April 15, the company said its attention has been drawn to the malicious publication by Sahara Reporters alleging inappropriateness of the disengagement of the GMD, Mele Kyari and GED F&A, Umar Ajiya from the services of the old Corporation and their subsequent appointment by Mr. President to commence a new tenure as Group CEO and CFO in the new NNPC Limited.

The statement recalled that the passage of the Petroleum Industry Act and the successful transition of the Nigerian National Petroleum Corporation to a commercially driven National Energy Company, the NNPC Limited and that the PIA 2021, has in addition to the creation of NNPC Limited made clear and unambiguous provisions relating to Governance, Administration, and the appointment of a Chief Executive Officer (CEO), a Chief Financial Officer (CFO) and Board of Directors by Mr. President.

“The PIA 2021 is deliberate about the long term sustainability of the 20 years long petroleum industry reform that climaxed in the creation of NNPC Limited as a commercially driven National Energy Company, with focus on sustainable value creation.

“Pursuant to the provisions of the Act, appointment of the CEO and CFO of NNPC Limited by the President of the Federal Republic of Nigeria is on the basis of distinct terms and conditions of Service including tenure, employment benefits and termination. The appointment of CEO and CFO is not a career posting as erroneously presented by Sahara Reporters.

“Specifically, section 59(3) of the PIA 2021 has clearly stipulated the conditions to be considered in appointing the CEO and CFO of NNPC Limited without recourse to previous employment ranks in the Corporation. The previous rank of GMD or GED F&A was therefore not a consideration in the appointment of the CEO or CFO of NNPC Limited,” the statement by

“Consequently, by virtue of the appointments of Mallam Mele Kyari and Mr. Umar Ajiya as NNPC Limited Group CEO and CFO, respectively by Mr President for a tenure of five years each with effect from 16 September 2021 has ended their employment with the Corporation and are thus entitled to their terminal benefits in respect thereof. Based on the provisions of the Act, the new tenured roles they assumed with NNPC Limited cannot be regarded as continuance of their previous positions in the defunct Corporation,” the statement by Muhammad said.

On the misrepresentation of facts by Sahara Reporters, the statement explained that the circular issued by the Head of the Civil Service of the Federation, dated 27 July 2009, explicitly stated that “appointments as Chief Executives of Government-Owned Companies are “tenured appointments”, and in respect of such tenured appointments, career officers who wish to take up such appointments shall retire from service, in order to run their tenure uninterrupted. The circular recognises a distinction between a tenured appointment to serve as Chief Executive of a government-owned company, as distinct from a career office.”

It added that Public Service Rules require termination of any fixed career appointment to take up a tenured role.

“It is therefore our belief that the informed general public will disregard the misinformation and misrepresentation of facts published by Sahara Reporters.

“NNPC compensation does not pay gratuity into billions and we are a compliant organisation that is committed to delivering greater value to Nigerians in strict compliance with extant laws and circulars.

“The Group CEO and the CFO have demonstrated patriotism by ending their career appointments with the Corporation to serve the nation on five years tenured appointment in NNPC Limited.

“The general public is therefore advised to disregard the spurious and malicious publications, while the company will take necessary legal steps to seek redress,” it added.

NNPCL refutes claims of inappropriateness, disengagement of Kyari, Ajiya from NNPC

THE NNPC Limited has refuted claims of inappropriateness and disengagement of Mele Kyari and Umar Ajiya from the Nigerian National Petroleum Corporation, NNPC.

In a statement by Garba Deen Muhammed, group general manager, NNPCL,  on Saturday, April 15, 2023, the company said its attention has been drawn to the malicious publication by Sahara Reporters alleging inappropriateness of the disengagement of the GMD, Mele Kyari and GED F&A, Umar Ajiya from the services of the old Corporation and their subsequent appointment by Mr. President to commence a new tenure as Group CEO and CFO in the new NNPC Limited.

It recalled that the passage of the Petroleum Industry Act and the successful transition of the Nigerian National Petroleum Corporation to a commercially driven National Energy Company, the NNPC Limited and that the PIA 2021, has in addition to the creation of NNPC Limited made clear and unambiguous provisions relating to Governance, Administration, and the appointment of a Chief Executive Officer (CEO), a Chief Financial Officer (CFO) and Board of Directors by Mr. President.

“The PIA 2021 is deliberate about the long term sustainability of the 20 years long petroleum industry reform that climaxed in the creation of NNPC Limited as a commercially driven National Energy Company, with focus on sustainable value creation.

“Pursuant to the provisions of the Act, appointment of the CEO and CFO of NNPC Limited by the President of the Federal Republic of Nigeria is on the basis of distinct terms and conditions of Service including tenure, employment benefits and termination. The appointment of CEO and CFO is not a career posting as erroneously presented by Sahara Reporters.

“Specifically, section 59(3) of the PIA 2021 has clearly stipulated the conditions to be considered in appointing the CEO and CFO of NNPC Limited without recourse to previous employment ranks in the Corporation. The previous rank of GMD or GED F&A was therefore not a consideration in the appointment of the CEO or CFO of NNPC Limited,” the statement by

“Consequently, by virtue of the appointments of Mallam Mele Kyari and Mr. Umar Ajiya as NNPC Limited Group CEO and CFO respectively by Mr President for a tenure of five years each with effect from 16 September 2021 has ended their employment with the Corporation and are thus entitled to their terminal benefits in respect thereof. Based on the provisions of the Act, the new tenured roles they assumed with NNPC Limited cannot be regarded as continuance of their previous positions in the defunct Corporation,” the statement by Garba Deen Muhammad, Chief Corporate Communications Officer NNPC Limited, said.

On the misrepresentation of facts by Sahara Reporters, the statement explained that the circular issued by the Head of the Civil Service of the Federation, dated 27 July 2009, explicitly stated that “appointments as Chief Executives of Government-Owned Companies are “tenured appointments”, and in respect of such tenured appointments, career officers who wish to take up such appointments shall retire from service, in order to run their tenure uninterrupted. The circular recognises a distinction between a tenured appointment to serve as Chief Executive of a government-owned company, as distinct from a career office.”

It added that Public Service Rules require termination of any fixed career appointment to take up a tenured role.

“It is therefore our belief that the informed general public will disregard the misinformation and misrepresentation of facts published by Sahara Reporters.

“NNPC compensation does not pay gratuity into billions and we are a compliant organisation that is committed to delivering greater value to Nigerians in strict compliance with extant laws and circulars.

“The Group CEO and the CFO have demonstrated patriotism by ending their career appointments with the Corporation to serve the nation on five years tenured appointment in NNPC Limited.

“The general public is therefore advised to disregard the spurious and malicious publications, while the company will take necessary legal steps to seek redress,” it added.

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How Palmpay overcame trust deficit in 12 months- MD Nwosu

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Nigerians’ trust in Palmpay, a Central Bank of Nigeria’s fintech licensed bank, has grown tremendously in the last 12 months.

The Managing Director of Palmpay Nigeria, Chika Nwosu, disclosed this recently when he appeared on  Channels TV Business Roundtable.

Recall that the CBN recently restricted Palmpay and four fintech banks from onboarding new customers.

However, Nwosu gave insights into regulatory concerns surrounding the FinTech ecosystem and said that Palmpay has come to stay within Nigeria’s banking sector.

“Whatever happens with regulation is for the good of the FinTech space in Nigeria. Initially, when we started, there was an issue of trust. However, I can tell you now that the last 1 year after the cashless policy has seen the trust start to grow”.

The Managing Director emphasized PalmPay’s unwavering support for regulators in regulating the FinTech ecosystem, underscoring that regulators want to improve the services of strong players in the FinTech space, such as PalmPay.

On the ease of doing business and how it affects PalmPay, he said:

“Doing business in Nigeria for us is difficult, but Nigerians are embracing our App and digital payment”.

When asked about the problem of failed transfers, he stressed,

“Every institution has its business strategy and infrastructure. For us and most fintechs, we have a structure that makes transactions seamless”.

Regarding the regulator’s recent onboarding policy, he stated that PalmPay agreed with the regulators on some grey areas that must be addressed.

Reassuring customers that there was no issue with using PalmPay, he emphasized, “If PalmPay completes their own today, we will start onboarding today”.

On the issue of trust and the security of the PalmPay app, he said,

“There is no day you won’t see on our app boldly written that we are licensed by the Central Bank of Nigeria (CBN) and our deposits are insured by the Nigeria Deposits Insurance Corporation (NDIC). PalmPay is here to stay”.

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Mushin LG Chairman flags off construction of Yusuf Street road, promises solar lighting

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The Mushin Local Government Chairman, Hon. Emmanuel Bamigboye on Wednesday flagged off the construction of Yusuf Street road in Papa Ajao.

The project is expected to bring relief to residents and traders in the area and is set to be completed within six months.

According to Bamigboye, the project is a fulfillment of his campaign promise to the people of Mushin, and he expressed gratitude to God for the opportunity to execute the project.

He urged residents to cooperate with the contractor and the local government to ensure the successful completion of the project.

The councillor representing the ward, Ayomide Abioye, expressed his joy and appreciation for the project, stating that it is the longest street in Papa Ajao and will bring immense benefit to the community.

Also, the Baba Oloja of Ladipo International Market, Eze Monday, also commended the Executive Chairman for the project, stating that it will make a significant impact on the development of the area.

The project includes the construction of the road and the installation of solar lighting, which is expected to enhance security and facilitate economic activities in the area.

Residents and traders in the area have been warned not to disturb the contractor or disrupt the project in any way.

Meanwhile, the traders applauded Hon. Bamigboye for demonstrating its commitment to infrastructural development and the welfare of its citizens.

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Giving back to community — Prof Oyedokun speaks on motives

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Lead Facilitator Professor of Accounting & Financial Development Founder OGE, Prof. Godwin Emmanuel Oyedokun, has disclosed that giving back to society community is his motive for pursuing his career.

He made the disclosure in an article titled “My motive for running a free professional diploma course in Forensic Accounting and Fraud Investigation is of several folds.”

He said, “Running a free professional diploma course in forensic accounting and fraud investigation is also motivated by my desire to give back to the community.

“By sharing my expertise and knowledge without any financial barriers, I am helping individuals from diverse backgrounds and financial situations to acquire valuable skills and advance their careers.”

The academic reiterated that the motive for running a free professional diploma course in forensic accounting and fraud investigation is centred around education, skill development, community service, and professional growth.

It is a way to contribute to the accounting profession, address a skill gap, and empower individuals in their pursuit of knowledge and career advancement.

According to him, “Promoting Education and Professional Development to contribute to the growth and development of the accounting profession by providing individuals with an opportunity to enhance their knowledge and skills in the specialised field of forensic accounting and fraud investigation.

“By offering this free course, i am enabling aspiring professionals to access valuable education that might otherwise be costly or inaccessible.”

The Don addressing the need for expertise in Forensic Accounting said, “In recent years, there has been an increasing demand for professionals skilled in forensic accounting and fraud investigation due to the rise in financial crimes and fraudulent activities. By offering this free course, I am helping to address this skill gap and aiding in the fight against financial fraud.”

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