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$2.4bn Oil Probe: AGF to appear before Reps committee

Published

1 year ago

April 21, 2023

NewsDirect

The Attorney General of the Federation (AGF), Mr Abubakar Malami, has indicated readiness to appear before the House of Reps adhoc committee investigating alleged loss of over $2.4 billion unremitted oil revenue.

The revenue is from illegal sale of 48 million barrels of crude oil export from 2014 till date.

The Minister expressed this through a letter sent to the adhoc committee and read by its Chairman, Rep. Mark Gbillah, during the resumed investigative hearing in Abuja on Thursday.

Malami said he would provide relevant information on the alleged sale of 48 million barrels of crude oil amounting to over $2.4 billion and crude oil export to global destinations from 2014 to date.

Gbila, while acknowledging receipt of the letter, said, “Today we are in receipt of a letter from the Attorney General of the Federation and the Minister of Justice who is indicating his determination to respect the doctrine of separation of powers and to support our extant laws.”

He said the Minister indicated the fact that he was trying to put together the comprehensive response that the committee had raised.

“While we appreciate the Attorney General’s response, we would like to indicate that it came a lot later than we expected and it came without the response that we referred to.

“So, we will appreciate if the AGF provides these responses and to also appear before the Committee next Thursday. So, let’s give him the window to appear before the Committee.”

He however said that the Minister of Finance was still evasive, adding that the committee had not received any submission or response from the minister.

“The Accountant General sent a response and has not responded to our follow up because we asked further questions to what he provided us information about.

“But we want to call on the Minister of Finance, like the AGF to show regards and respect for the separation of powers as enshrined in our Constitution, and respond to the request of the committee.”

This, according to him, will enable the committee to get to the bottom of its investigation.

“Like I already said,we are giving her the benefit of the doubt; we are not unmindful of the other powers we have and we are afraid to exert them.

“We will do so if the leeway we have provided is still neglected and not recognised by the honourable Minister of Finance,” he said.

During the resumed investigative hearing the committee quizzed management staff of some oil companies involved in the lifting and sales of crude oil to global destinations.

This was in furtherance of the investigation into alleged sale of 48 million barrels of crude oil amounting to over $2.4 billion and crude oil export to global destinations from 2014 to date.

Related Topics:$2.4bn Oil Probe Abubakar Malami

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CBN disowns notice on cryptocurrency transactions

Published

2 hours ago

April 24, 2024

NewsDirect

The Central Bank of Nigeria says a notice circulating on social media about the risk of cryptocurrency is fake news.

The Apex disclosed this via its official X account, urging the public to disregard the purported notice for all Deposits Money Bank, Non-Bank Financial Institutions, and other Financial Institutions.

The notice reminded “Institutions that dealing in cryptocurrencies and facilitating payments for cryptocurrency exchanges is prohibited”.

However, CBN said the content doesn’t originate from it.

“This information does not originate from the Central Bank of Nigeria.

“For authentic updates, please visit the official website,” CBN wrote.

Recall that the CBN governor, during the Bank’s 293rd Monetary Policy Committee meeting, said over $26 billion funnelled through Binance.

On Tuesday, the Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, said the anti-graft agency froze about 300 accounts to ensure the safety of the foreign exchange market.

The Nigerian government had continued clamping down on Binance and other cryptocurrency platforms amid efforts to defend the Naira in the foreign exchange market.

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Biden says U.S. will begin sending weapons to Ukraine

Published

2 hours ago

April 24, 2024

NewsDirect

U.S. President Joe Biden wants to start delivering of weapons and equipment to Ukraine this week.

The president said this shortly after the U.S. Senate approved billions of dollars in new aid for the country under attack from Russia.

“I will sign this bill into law and address the American people as soon as it reaches my desk tomorrow so we can begin sending weapons and equipment to Ukraine this week,” Biden said.

By passing the legislative package, which also includes billions of dollars in aid for Israel and Taiwan, the U.S. Congress has demonstrated the power of American leadership in the world, Biden added.

“We stand resolutely for democracy and freedom, and against tyranny and oppression.”

There is an urgent need for support for Ukraine, which is being subjected to relentless bombardment from Russia, Biden said.

The bill also contains aid for Israel, which has recently faced unprecedented attacks from Iran.

“This critical legislation will make our nation and world more secure as we support our friends who are defending themselves against terrorists like Hamas and tyrants like Putin,” Biden said.

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NSCDC deploys personnel to JAMB CBT centres in Anambra

Published

3 hours ago

April 24, 2024

NewsDirect

The Nigeria Security and Civil Defence Corps (NSCDC), said it has deployed personnel to ensure a hitch-free 2024 Unified Tertiary Matriculation Examination (UTME) in Anambra.

The state Commandant, Olatunde Maku, stated this after monitoring the conduct of the exams across CBT centres in Awka, on Wednesday.

Some of the centres visited are, Integral Development Konsult on Enugu/Onitsha Expressway, White House in Awka, JAMB Centre located inside JAMB office in Amawbia and Nnamdi Azikiwe University, Awka.

Others are St. John of God ICT Hub, Awka and Kachukwu Ventures Staff Development Centre, behind Government House in Awka.

The examination centres take candidates in three batches: 7 a.m., 10 a.m. and 12 p.m.

Maku said that the synergy between NSCDC and the Joint Admissions and Matriculation Board (JAMB) had yielded positive results in reducing exam malpractice.

He said that the monitoring of the centres would continue till the end of the examination period, to ensure a seamless conduct of the exercise and promote transparency.

“We are firm in our determination to protect critical national assets and infrastructure including JAMB centres.

“Which was why the NSCDC deployed personnel to JAMB CBT centres in the state to ensure security and so far they have been professional in carrying out their mandate,” he said.

Maku advised candidates writing the 2024 UTME to be law abiding and avoid being in possession of prohibited or incriminating items during the examination.

He warned unauthorised persons against loitering around designated exam centre, adding that anyone found wanting would be arrested and prosecuted.

Also speaking, Mrs Jema Iheme, JAMB Coordinator, Anambra state, commended NSCDC for their support and for ensuring security of candidates and staff at the exam centres.

Iheme said that the swift response of NSCDC to emergencies and enforcement of exam rules and regulations was contributing to a smooth and secured exam process so far.

NAN also reports that about 1.9 million candidates are expected to write the JAMB UTME, which commenced on April 19 and would end on April 29.