The absence of counsel to the Economic and Financial Crimes Commission (EFCC) and the former Minister of Petroleum Resources, Diezani Alison-Madueke, in court on Wednesday stalled the money laundering trial. The News Agency of Nigeria (NAN) reports that a Federal High Court, Abuja had fixed today, Nov. 3, for the EFCC to give a report […]
In consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the Petroleum Industry Act (PIA) in consultation with the Minister of Finance on the nominal shares of the Company, President Muhammadu […]
The Minister of State for Petroleum Resources, Chief Timipre Sylva, said that the philosophy behind the Petroleum Industry Bill (PIB) signed into law by the President was to attract investors. The minister disclosed this while responding to questions on the three per cent allocation to host communities in the PIB in Abuja on Tuesday. Sylva […]
Success Nwogu A retired Deputy Director of the Department of Petroleum Resources, Engineer Sunday Adebayo Babalola, on Monday said the rehabilitation of the Port Harcourt Refinery Company at $1.5 billion is a national disservice and a wasteful spending. The Nigerian National Petroleum Corporation, despite public outcry, had in April, 2021 signed a contract with an […]
Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, has disclosed that the anti-graft agency recovered $153 million from former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke. He said the agency also recovered the final forfeiture of over 80 properties in Nigeria valued at about $80 million from the minister, who has […]
BY DOOSUUR IWAMBE Minister of State for Petroleum Resources, Timipre Sylva, has announced June 6 as new date for the 2021 Nigerian International Petroleum Summit (NIPS). He made the announcement during a special video broadcast on a national television station. Accordibg to the broadcast which was also shared by the Petroleum Ministry’s official social media […]
Minister of State for Petroleum Resources, Chief Timipre Sylva, says review of the Petroleum Industry Bill (PIB) is at an advanced stage and full passage of the bill is expected mid 2020. Sylva made the announcement on Wednesday in a statement to mark the New Year which was made available to the News Agency of […]
Joy Obakeye The Civil Society Legislative Advocacy Centre has decried the slow clean-up of oil pollution in Ogoniland. The Programme Manager, Environment and Conservation of Nature, CISLAC, Mr Kolawole Banwo, made this known at a workshop in Lagos. “Emergency measures (health audit, alternative livelihoods and potable water) are perceived to be delayed, inadequate or poorly […]
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has described as false and baseless report making rounds that he claimed graduating from the University of Nigeria, Nsukka (UNN), with a First Class degree. The minister made the clarification in a statement signed by the Director of Press in the Ministry of Petroleum Resources, […]
Meanwhile, the EFCC has informed the Federal High Court in Abuja how it uncovered about 19 houses allegedly bought by the immediate-past Minister of Petroleum Resources, Mrs. Diezani Alison-Maduke, in Nigeria, the United Kingdom and the United States. It also explained that an Executive Director in First Bank Nigeria Limited, Mr. Dauda Lawal, helped Diezani […]
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu on Monday gave clarification to “Nigeria currently incurs over N1.4 trillion till date as under-recovery or losses on the importation and sale of petrol”. The Director of Press and Public Relations in the Ministry of Petroleum Resources, Idang Alibi, in a statement made available on […]
The banking giant, JP Morgan Chase, has revealed that the United Kingdom (UK) anti-money laundering unit, Serious Organised Crime Agency (Soca), now renamed the National Crime Agency gave authorisation for the transfer of $875 million to accounts linked to Dan Etete, a former Nigerian Minister of Petroleum Resources in the controversial Malabu scandal. JP Morgan […]
* As Adeosun, Kachikwu, Baru shun probe on fuel template Lower chamber’s c’ttee to unravel how price differential is paid The House of Representatives joint committee on Finance and Petroleum Resources Downstream investigating the huge payment of subsidy on imported refined petroleum products by the President Muhammadu Buhari- led administration on Tuesday, walked out officials […]
If a war foretold does not take the cripple by surprise, the Minister of State for Petroleum Resources, Ibe Kachikwu, is in a situation worse than physical handicap. He’s a victim of his own naivety but his appointer could be in a bigger dilemma. The warning shot was fired one year ago when Kachikwu was […]
The Economic and Financial Crimes Commission (EFCC) has stated that it is impossible to bring a former minister of Petroleum Resources, Diezani Alison-Madueke to Nigeria now to answer for alleged corruption charges against her. The commission noted, that the former minister was under investigation in the United Kingdom by the Metropolitan Police, hence she can’t […]
Senior Technical Adviser to the Minister of State for Petroleum Resources, Mr. Adegbite Adeniji, has said that the new Federal Government’s petroleum sector regulatory policy would create a “one stop – shop” petroleum sector. Adeniji said all current regulatory and pseudo-regulatory activities would be taken over by the new regulator. He added that the process […]