Company

BREAKING: Nigerian Petroleum Company NNPC Denies Sabotaging Dangote Refinery, Says Refineries Must Secure Supply Source And Market

5 months ago925 min

The Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari has said the company has not breached any of the enabling laws guiding its dealings with partners, hence should be counted out of any claims of economic sabotage. Kyari, who was addressing the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigeria Petroleum Industry at the National Assembly on Wednesday, stated that the refining business is a straightforward business which any...

by Probitas

BREAKING: President Tinubu Orders Petroleum Company, NNPC To Sell Crude To Dangote Refinery In Naira

5 months ago874 min

This was announced by the Special Adviser to the President on Information and Publicity, Bayo Onanuga on X, explaining the order is aimed at achieving stability of the pump price of refined fuel and the dollar-Naira exchange rate. President Bola Tinubu has given an executive order to the Nigerian National Petroleum Company Limited (NNPCL) to sell crude to Dangote Refinery and other upcoming indigenous refineries in Naira, the country’s currency. This was...

by Probitas

Metro

Police uncover fake sachet water company in Lagos

5 months ago4926 min

Operatives of the Federal Capital Territory Police Command have arrested one Hashiru Baku, the mastermind behind the murder of the late Brigadier General Harold Udokwere. Udokwere, who was the national chairman of the Retired Members of the Nigerian Armed Forces, was murdered by armed robbers who invaded his residence on June 22, 2024, and took away his gun. The police had arrested and paraded Ibrahim Rabiu, Nafiu Jamil, Aliyu Abdullahi and Mohammed Nuhu in connection...

by Probitas

Nigeria’s Oil Company NNPC Spent N7.3Billion On Entertainment In 16 Months

5 months ago824 min

A review of financial statements of the Nigerian National Petroleum Company Limited has shown that its subsidiaries posted short term debts to the tune of N83 billion in 2022. According to the financial statements of the NNPCL for December 2022, Nikorma transport Trade and other payables (debts) stood at N4.5 billion, West Africa LPG Limited trade payable figure stood at N79.2 billion, while that of Hyson Nigeria limited was N15 million. The West Africa LPG...

by Probitas

Transparency Issues Persist As Nigerian Oil Company NNPCL Fails To Release 2023 Financial Statements 7 Months Into 2024

5 months ago894 min

The Nigerian National Petroleum Company Limited (NNPCL) has not published its financial records for 2023, as the year 2024 draws to a close. This lack of transparency has sparked concerns about the company’s operations, especially since it became a limited company. The NNPCL only released its 2022 financial statements in January 2024 after facing significant pressure. The Petroleum Industry Act mandates that the NNPCL, as a limited company, must undergo financial audits annually, in line...

by Probitas

News

Family Of Ogunbanjo, Former Nigerian Exchange Group Chairman Killed In California Helicopter Crash Alongside Wigwe, Others Sues Charter Company

9 months ago1036 min

The family of the late former Chairman of the Nigerian Exchange Group, Abimbola Ogunbanjo, has filed a lawsuit against the United States helicopter company, Orbic Air over his death in a helicopter crash in February. SaharaReporters had reported that Ogunbanjo was killed alongside former Chief Executive Officer of Access Holdings, Dr Herbert Wigwe, his wife Chizoba and his son during a charted helicopter crash in Southern California near the Nevada border, United States of America....

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News

EXCLUSIVE: Transmission Company of Nigeria CEO, Abdulaziz Sule Bribes Power Minister With 2023 Lexus SUV Worth Over N290Million To Retain Office

9 months ago50618 min

The Managing Director and Chief Executive Officer of the Transmission Company of Nigeria (TCN), Abdulaziz Ahmed Sule, has reportedly bought a 2023 Lexus LX 600 model for the Minister of Power, Mr Adebayo Adelabu, SaharaReporters has learnt. The SUV was procured for 298,444,187.50k. Sources told SaharaReporters that Sule bought the vehicle from the internally generated revenue of the company to bribe the minister to ensure that President Bola Tinubu does not remove him from office....