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SERAP drags NNPCL court over alleged missing $2.04bn, N164bn oil revenues
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The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Nigerian National Petroleum Company Limited over the “failure to account for and explain the whereabouts of the alleged missing $2.04 billion and N164 billion oil revenues.”
This, according to SERAP, followed the allegations documented in the recently published 2020 audited report by the Auditor-General of the Federation that the NNPC; failed to remit the money into the Federation Account, saying that the money may have been diverted.
This was disclosed in a statement signed by the Deputy Director of SERAP, Kolawole Oluwadare.
In the suit number FHC/ABJ/CS/549/2024 filed last Friday at the Federal High Court in Abuja, SERAP is seeking “an order of mandamus to direct and compel the NNPC to account for and explain the whereabouts of the missing USD$2.04 billion and N164 billion oil revenues, as documented in a report by the Auditor-General.”
In the statement, SERAP urged the NNPCL to “hand over suspected perpetrators to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution,” and “ensure the full recovery and remittance” of the missing funds into the Federation Account.
The organisation noted that the failure to account for the missing oil revenues reflects the nation’s oil giant’s “continuing failure to uphold the principles of transparency and accountability,” adding that it’s a “grave violation of the provisions of the Nigerian Constitution 1999 [as amended],” among others.
SERAP condemned the missing oil revenues, lamenting that “had the NNPCL and its subsidiaries accounted for and remitted the disappeared public funds into the Federation Account, it is likely that more funds would have been allocated to the fulfillment of economic and social rights of Nigerians, such as increased spending on public goods and services.
The missing oil revenues have also impeded Nigerians’ ability to enjoy their economic and social rights, and denied them access to essential public goods and services, especially at the time of cost of living crisis in the country.”
In the suit, SERAP is arguing that “there is a legitimate public interest in providing the details sought. The NNPC has a legal responsibility to account for and explain the whereabouts of the disappeared money.
“Without the full recovery and remittance of the missing USD$2.04 billion and N164 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.”
According to SERAP, the Auditor-General of the Federation “has, for many years, documented reports of the disappearance of public funds from the NNPC,” while the AGF “fears that the money may have been diverted into private pockets, denying the government the funding needed to carry out its activities.
“The NNPCL reportedly failed and/or refused to remit N151,121,999,966. The NNPCL without any justification deducted the money from the oil royalties assessed for 2020 by the Department of Petroleum Resources (DPR) now the Nigerian Upstream Petroleum Regulatory Commission (NUPRC),” among others.
No date has been fixed for the hearing of the suit.
Punch
Iran’s foreign ministry on Monday said it was not currently involved in negotiations with the United States, despite a halt in recent fighting between the two sides.
“Mediators may convey messages from the American side to us regarding current developments in the region. But at present, we are not engaged in any negotiations with the United States,” ministry spokesman Esmaeil Baqaei said at a weekly press briefing.
“Claims that Iran has requested negotiations are fabrications that the other side circulates from time to time,” he added.
Hostilities resumed between Iran and the United States earlier this month after diplomatic efforts collapsed amid an impasse regarding the Strait of Hormuz.
Fighting has nonetheless paused since early Saturday, following 13 days of exchanges of fire between the two sides.
Baqaei criticised the United States, saying its conduct in recent years has “resembled that of a mafia gang that adheres to no rules or laws”.
“So long as such behaviour by the United States continues, we cannot be hopeful about the emergence of a reasonable process,” he added.
Iran insists on retaining control over the management of the Strait of Hormuz, including the collection of service fees, while keeping Oman involved as a coastal state.
Iran’s Revolutionary Guards have turned back multiple vessels in recent days, including six earlier on Monday, that attempted to transit the strait outside the route designated by the Islamic republic.
On Monday, Baqaei reiterated that Washington had nothing to do with recent talks with Oman over the administration of the Strait of Hormuz.
“These talks have no connection with the United States. They are a bilateral matter between Iran and Oman, and they are continuing,” Baqaei said, adding that the waterway “remains closed”.
The Kebbi State Police Command has confirmed the abduction of
a Kebbi State High Court judge, Justice Faruku Hassan Bunza after suspected Bandits invaded his residence in Bunza Local Government Area.
Confirming the abduction, the State Police spokesperson, SP Bashir Usman, said the judge was taken from his residence around midnight.
“I can confirm that Hon. Justice Faruku Hassan Bunza was abducted from his residence in Bunza around midnight,” Usman said.
He disclosed that the Commissioner of Police, CP Umar Muhammad Hadejia, had immediately deployed tactical and intelligence teams to track the abductors and rescue the judge.
“Our personnel are combing identified locations, including forest hideouts, to ensure that the judge is rescued alive and unharmed,” the police spokesperson said.
NATIONAL WAVES learnt that the gunmen stormed the judge’s home along Zogirma Road at about 12:00 a.m. on Sunday, shortly after he returned from a trip to Sokoto State.
The attackers fired sporadically into the air before whisking the judge away. No member of his household was kidnapped or molested during the operation. He had just returned from Sokoto when the gunmen invaded his residence and abducted him,” a source squealed
A family member who craved for anonymity said “Immediately the incident happened, we alerted the relevant authorities, including the leadership of the High Court,”
News
Confusion in Anambra as students feared trapped in private hostel near Oko Polytechnic collapses
A three-storey private hostel warehousing students of Federal Polytechnic Oko has collapsed in Amokpala, Oko, in Orumba North Local Government Area of Anambra State, leaving a yet-to-be-identified number of occupants trapped beneath the rubble.
The building, identified as Elite Five Star Lodge, reportedly caved in late Sunday night.
The collapse of the hostel located near Tonimas Filling Station in the Oko Polytechnic community sparked panic among residents and students as cries for help were reportedly heard from beneath the debris.
Emergency responders launched rescue operations, with personnel from the Anambra State Police Command, the Anambra State Fire Service, the Anambra State Emergency Management Agency (SEMA), and other security and emergency agencies deployed to the scene.
Several injured victims have so far been rescued from the collapsed structure and taken to a hospital in Oko for medical treatment.
Search-and-rescue teams, however, continue efforts to reach other occupants believed to be trapped under the debris.
Authorities said the exact number of casualties and those trapped could not be immediately confirmed, as rescue operations were still ongoing at the time of filing this report.
Confirming the incident, the spokesperson for the Anambra State Police Command, SP Tochukwu Ikenga, said a police-led joint security team swiftly secured the area and coordinated emergency response efforts to prevent further loss of life.
Ikenga urged residents to remain calm, refrain from spreading unverified information, and stay away from the scene to allow rescue workers unhindered access to carry out their operations.
He added that the police command would provide further updates as more verified information becomes available.
We don’t have current negotiations with US — Iran
Police Finally Confirm Abduction Of Kebbi High Court Judge By Bandits
Confusion in Anambra as students feared trapped in private hostel near Oko Polytechnic collapses
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