News
FG Probes Theft In $1.1 Billion Oil Well (the Tony Elumelu’s connection)

The largest oil and gas field financing transaction of about $1.1bn – Oil Mining License 17, owned by billionaire business tycoon, Tony Elumelu, is currently under investigation following the uncovering of an illegal oil bunkering facility connected to it, Society Reporters has learnt.
We gathered that the investigation was necessitated after the Nigeria Security and Civil Defence Corps on Thursday, uncovered an illegal local refinery at Otamiri-Etche, Etche Local Government Area of Rivers State.
The illegal refinery, we gathered, steals crude from OML17 fields operated by Heirs Holding Oil and Gas Limited.
In 2021, Heirs Holdings acquired 45 per cent of OML 17 from Shell Total and Eni. At the point of acquisition, the field located at the north Port Harcourt, produced just 27, 000 barrels per day, however, production rose to 40, 000 barrels per day seven months after acquisition.
We gathered that the NSCDC was able to burst the oil bunkering gang following intelligence reports from local informants.
The perpetrators were said to have tapped into Heir Holding Oil and Gas facility through the pipeline bulk delivery and stole crude oil through carefully constructed pipes to their illegal local refinery.
Further findings revealed that some insider involvement connected to the bunkering had been uncovered, and the NSCDC is currently interrogating workers both inside and outside the facility with the full support of Elumelu himself.
Sources close to the matter told us that Elumelu was disturbed by the report, as the menace had been ongoing for years, even before the field was acquired by Heirs Holdings.
“Suspected persons workings in the facility, locals, including the owner of the land being used for the illegal activities have been picked up for questioning”, sources who claimed anonymity due to the sensitivity of the matter told us.
The NSCDC Commandant in Rivers State, Michael Besong Ogar, confirmed the development.
He said it was the first time of witnessing a new strategy of operations by illegal oil thieves in the country.
We also gathered that sponsors of the illegal refinery are currently being investigated and would be charged to court.
“I must confess that this is the first time of witnessing a well fabricated illegal refinery with such a wide range of pipes laid across the area, as you can see how big the land is, you can also imagine how unscrupulous people can be despite the continuous fight against illegal dealings in petroleum products.
“We have commenced intense investigation into the matter, and we will unravel the mystery behind this economic sabotage.
“The NSCDC has a clear statutory mandate to safeguard critical national assets and Infrastructures across the federation, we will not be deterred or distracted by the activities of oil thieves in the State. Without compromise we will go after them and ensure that the illegal dealings in petroleum products are reduced drastically in order to boost the nation’s economy again”, he said.
OML 17 contains fields such as Agbada, Obigbo, Obigbo North, as well as Otamini and Umuchem. It also hosts facilities that can output 150, 000 barrels per day. Gas production on the field is less than 50 million standard cubic feet per day, with estimated 2P reserves of 1.2 billion barrels of oil.
News
Obasa Missing as Lagos Assembly Sits, Lauds President Tinubu

The Lagos State House of Assembly convened for a crucial legislative session yesterday, but an unexpected absence stole the spotlight, the ousted Speaker Mudashiru Obasa was nowhere to be seen. The sitting, which focused on key legislative matters and a commendation of President Bola Ahmed Tinubu’s leadership, went on without Obasa, raising eyebrows among lawmakers and political observers alike.
New Speaker Mojisola Meranda presided over the proceedings, ensuring the session ran smoothly. During deliberations, the lawmakers took turns applauding President Tinubu for his strides in governance, particularly his economic and infrastructural policies aimed at revitalizing Lagos and Nigeria as a whole. However, whispers about Obasa’s absence could not be ignored.
Sources within the Assembly remained tight-lipped on the reason for his nonappearance, fueling speculation.
As lawmakers dispersed after the session, the big question lingered where was Obasa? For now, the mystery remains, but all eyes will be on the next sitting to see if the seasoned politician resurfaces.
lifestyle
Meet The New 47-year-old Alaafin Of Oyo, Prince Akeem Owoade

Prince Akeem Owoade is a Nigerian and Canadian entrepreneur, philanthropist, and president of 100279 Manitoba Limited, a real estate investment and financial services business in Manitoba, Canada.
Born 47 years ago to a prominent and royal family of Owoade-Agunloye in Oyo town, Prince Akeem Owoade is one of the surviving children of Pa Rasaki Ibiyosi Owoade, the descendant of Aremo Aderounmu Iyanda Owoade, Agure Compound, Oyo town in Oyo State, Nigeria.
aking an early interest in engineering, Prince AkeemOwoade began his engineering studies by completing his National Diploma and Higher National Diploma in Mechanical Engineering from ‘The Federal Polytechnic, Ilaro, Ogun State (1994 to 1997) and The Polytechnic, Ibadan (1999 to 2001), Oyo State. Nigeria respectively. He did his NYSC with Nigeria Gas Company as Mechanical Intern/Planner in 2002.After the completion of his NYSC, he worked with Oceanic Bank International Plc. in Warri as a teller. (2003 to 2004).
Prince Akeem Owoade decided to further his education in the United Kingdom where he attended University of Sunderland (2008) and Northumbria University (2012)
News
Panic As Governor’s Official Car Got Stolen

Confusion and fear was the order of the day at one of the Government houses in the Southwest some days ago when one of the official vehicles of the Governor, a bullet-proof jeep allegedly disappeared from the garage.
The SUV which is said to be one of the three bullet-proof vehicles being used for the Governor’s official assignment was discovered missing.
The Governor who was out of the country on a short, rest leave was claimed to have been disturbed when he was alerted.
Sources claimed it wasn’t the first time things would get missing at the Governor’s private residence.
‘There had been series of thefts, ranging from missing cash, phones and other expensive items, it’s usually swept under the carpet. Indiscipline is the order of the day here’, a source confirmed this to papermacheonline.
The State Governor, a quiet individual who is spending his second time in office was said to have been disturbed by the occurrence that he had to cut short his leave and return home. One of his closest aides was also kidnapped recently.
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