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NNPC claims it owes DPR N217billion, clears air on dubious account

In an attempt to clear the air about the purported controversial account with N53.4 billion, the [@NNPCgroup] has revealed it owes an outstanding payment of $600 million.

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NNPC clears controversy

In a desperate attempt to clear the air on the controversial account with N53.4 billion, the Nigerian National Petroleum Corporation (NNPC) said on Monday it owes the Department of Petroleum Resources (DPR) N217 billion ($600 million) as outstanding payment for operations in the upstream sector of the  nation’s oil and gas industry.

The Group Managing Director of NNPC,  Mele Kyari, disclosed this while receiving the Chairman and members of the Special Presidential Investigative Panel for the Recovery of Public Property (SPIP) at the NNPC Tower in Abuja.

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The SIPP visited the NNPC Tower to investigate reports that Corporation operates an account with the sum of N53.4 billion without the consent of the Federal Government.

Reports had said the SPIP, which acted on behalf of the federal government, stumbled on the account while investigating a petition against a “slush” funds held in a fictitious account named NNPC/NOAC IPP Security Account, suspected to be proceeds of corrupt practices.

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  • The petition, which was filed by the human rights activist,  Femi Falana concerns NNPC’s partial remittance to the federal government on the Joint Venture with International Oil Companies (IOCs).
  • It was further disclosed that the account holders are unidentifiable persons and/or public officers, who used NNPC/NOAC IPP Security Account.
  • This act, according to the reports, is fictitious and did not follow any known due process in account opening.
  • Following this, government initiated a legal process for a permanent takeover and final forfeiture of the account domiciled in First Bank of Nigeria.

[READ MORE: FG moves to take over NNPC’s ‘controversial’ account]

However, the Corporation has moved to clear the air on the alleged financial breaches in its operations.

According to the GMD, NNPC had nothing to hide as it stood to gain a lot by being transparent in all areas of operation.

He said: “Every member of our Management shares the vision of Mr. President that Government institutions must be accountable to all Nigerians. We know that we will gain more by being more transparent. We have nothing to hide.”

  • Kyari disclosed that the NNPC would have paid the balance of 60% to the Federal Government, but felt it is unnecessary because it represents the government.
  • On the alleged breach of government’s Treasury Single Account (TSA) policy, the GMD said the NNPC had no secret account.

 “There is no single account NNPC is operating that is unknown to the Federal Government. Any accounts outside the TSA platform are partner accounts which we have obtained due approvals from the government,” he added.

  • Kyari insisted that all funds owned by the NNPC were domiciled with the Central Bank of Nigeria (CBN), adding that the Corporation’s account managers remain the CBN and the Accountant General of the Federation (AGF).

Outstanding payment: Reacting to the alleged non-remittances of taxes and royalties by the Nigerian Petroleum Development Company (NPDC), NNPC’s upstream arm, the GMD said there were outstanding payments which arose as a result of the pillage that occurred before 2015.

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He said NNPC currently owes DPR an outstanding payment of N217 billion or $600 million, with a re-payment plan expected to clear all outstanding payments by mid-2020.

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Earlier in his remarks, the Chairman of the Presidential Panel, Chief Okoi Obono-Obla said the panel’s visit was to seek synergy with the NNPC towards reforming the country and more importantly to clear the air on issues relating to the agency’s operations.

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[READ FURTHER: NNPC reveals why it won’t renew oil block licenses for IOCs]

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Coronavirus

Breaking: COVID-19: Buruji Kashamu is dead

Kashamu’s demise was announced by a former lawmaker-friend and party member on Twitter.

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Senator Buruji Kashamu has died on Saturday.

Buruji, who was a member of the 8th Senate, died of COVID-19 at the First Cardiology Consultants, Lagos.

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This was disclosed by Senator Ben Murray-Bruce via his Twitter handle.

Details soon …

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NUPENG gives reasons it directed petroleum tanker drivers to embark on strike in Lagos

NUPENG said its members are being consistently extorted, intimidated, harassed and victimized by different groups.

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The National leadership of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has disclosed the 3 major reasons why it directed Petroleum Tanker Drivers (PTD) to withdraw their services from Lagos.

NUPENG revealed that the 3 major challenges that were being faced by Petroleum Tanker Drivers include; Extortion of money from the petroleum tanker drivers by various security agents, the menace of containerized trucks at Apapa, Kirikiri and Beach Land axis of Lagos State and the harassment and extortion by area boys and area godfathers.

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This was contained in the press statement that was issued by NUPENG on Friday, August 7, 2020, and signed by its National President, Comrade Williams Akporeha, and its General Secretary, Comrade Olawale Afolabi.

While directing petroleum tanker drivers to withdraw its services, the national leadership of NUPENG said it cannot afford to fold its arms while its members are being consistently and continually extorted, intimidated, harassed and victimized by different groups and segments in Lagos.

On the extortion of money from Petroleum Tanker Drivers by various security agents; NUPENG said that it is really disturbing that security agents who are expected to ensure free-flow of traffic and protection of road users now use their uniforms and arms to intimidate, harass and extort money from Petroleum Tanker Drivers. The union pointed out that this reprehensible conduct by the security agents is taking serious tolls on the psychological, emotional and financial state of Petroleum Tanker Drivers and their capacity to effectively and efficiently deliver services to the nation.

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On the menace of Containerized Trucks at Apapa, Kirikiri and Beach Land axis of Lagos State and collusion of government officials hindering Petroleum Tankers from loading activities at depots and tank farms;

The union said that the persistent traffic gridlock and indiscriminate parking of containerized trucks on major Lagos roads and bridges leading to Apapa port, Kirikiri, Beach Land, Satellite Town, Ijegun, are another major setbacks bedevilling the smooth running of the operations of Petroleum Tanker Drivers in Lagos State.

NUPENG disclosed that as at today, MRS depot has been held captive for more than 3 months from discharging products to Petroleum Tanker Drivers despite heavy availability of Petroleum products stockpiled in their tank farm facilities.

They explained that for safety reasons, Petroleum Tanker Drivers cannot continue to struggle with these containerized trucks in these corridors considering the inflammable nature of the products their members carry and cannot afford to undermine safety standards, procedures and protocols in the course of rendering their services.

Some of the locations faced with this situation include Oshodi/Apapa Expressway, Ojuelegba Bridge, Iponri, Constain roads, Ikorodu road through Funsho Williams Avenue (formerly Western Avenue) to Ijora inward Apapa and Oshodi-Apapa Expressway through Mile 2 to Berger Yard inward Tincan Island. These locations have been overwhelmed with indiscriminate parking of these articulated vehicles, aggravating the gridlock faced by Petroleum Tanker Drivers that ply the roads daily to lift products.

On the harassment and extortion by Area Boys and Area god-fathers; The union said that it was really worried that Lagos State which is known to be a megacity and centre of excellence has now become a safe haven for area boys and area god-fathers who now see Petroleum Tanker Drivers as soft targets, extorting money from them on a daily basis, assaulting them and vandalizing their trucks in some instances, especially when some of the Tanker Drivers show restraints in paying them illegal fees and levies.

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They said that the Petroleum Tanker Drivers (PTD) now battle with both Area Boys and Area God-fathers amidst the deplorable state of the roads in Lagos State, and this is really causing PTD lots of havoc on a daily basis.

The union pointed out that a distance of just about 10 kilometres, now takes 7 to 8 hours of manoeuvres by petrol tankers, many of which break down in the process, upturning their contents, killing PTD members and endangering the lives of several other Nigerians who traverse the roads.

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They revealed that Tanker Drivers whose activities cut across Oguntedo, old Ojo road, Ijegun-Egba, Abule Ado and its environs in Satellite town, Oriade Local government Area, and Apapa corridor of Lagos state have continued to work in fears, following incessant attacks by members of various notorious groups who have developed a penchant for extorting money forcefully from Tanker Drivers.

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They are known for operating unchallenged and freely around Apapa, Kirikiri, Mile 2, Maza-Maza and Abule-Ado, near Trade Fair flank and so on.

NUPENG said that they decided to embark on the indefinite strike after consultations with the different leadership organs of the union and stakeholders in the oil and gas industry.

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MRS Oil announces resignation of its MD, appoints an acting MD

The disclosure was made in a notification by the oil marketing giant.

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MRS Oil Nigeria Plc reschedules board meeting, closed period

Oil marketing giant, MRS Oil Nigeria Plc, has announced the resignation of its Managing Director, Mrs Priscilla Thorpe-Monclus with effect from August 5, 2020, and the subsequent appointment of Mr Marco Storari as the Managing Director in an acting capacity.

The oil firm also announced the resignation of one of its directors, Mr Christopher Okorie, also with effect from August 5, 2020.

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The disclosure was made in a notification by the oil marketing giant, which was sent to the Nigerian Stock Exchange (NSE) on August 7, 2020, and signed by its Company Secretary O.M. Jafojo.

The statement from MRS Oil Nigeria Plc reads:

At the Board Meeting of August 5, 2020, the Board of Directors of MRS Oil Nigeria Plc, considered and approved the resignation of Mrs Priscilla Thorpe-Monclus as Managing Director and Director of the Company, and the resignation of Mr Christopher Okorie as Director of the Company, effective August 5, 2020.

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“The Board of Directors also considered and approved the appointment of Mr Marco Storari as Director and Managing Director (Acting) of the Company.’

According to the statement, Mrs Thorpe-Monclus, during her tenure as the Managing Director, showed great commitment and dedication in her drive for the new MRS Brand, which resulted in the unveiling of three new retail outlets in Lagos, one in Owerri, two in Kano and two new outlets in Abuja. It also resulted in an overall business turnaround for the oil company.

The board commended the efforts of Mrs Thorpe-Monclus and Mr Okorie to the growth of the company and wished them the best in their future endeavours.

Mr Marco Storari, on the other hand, is a seasoned leader with more than 3 decades’ experience in the management, shipping, trading and terminal operations in the industry. He has held various high-level positions where he recorded business successes in companies in Italy, Monaco and Nigeria.

He was, until his appointment as Acting Managing Directors, the Group Executive Director, Storage and Terminal for MRS Holdings Limited. He has been a driving force in the transformation of the MRS Group over the last 10 years.

The Board of Directors of MRS has expressed its confidence in the ability of Storari to bring to bear his wealth of experience in the industry, to improve business efficiency.

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MRS Oil Nigeria Plc is a fully integrated and efficient downstream player, with leading positions in the Nigerian Oil Industry. The oil firm, with its head office in Nigeria’s commercial capital, Lagos, previously traded under the name Texaco Nigeria Plc. It has 3 business units namely sale of petroleum products at retail outlets, sale of aviation fuel, and blending of lubricants.

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