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
Ajimobi’s Eldest Child, Bisola Dies In The UK

Late Governor Ajimobi’s first child, Bisola is dead!
News filtered in early Thursday, March 27, 2025 that Bisola,42 died after a brief illness in the United Kingdom.
The late woman before her death was the special adviser to the Minister of Budget and Planning, Atiku Bagudu.
Married to Kolapo Kola-Daisi, their marriage is blessed with three children.
News
EFCC Arrests Top Businesswoman, Aisha Achimugu

The Economic and Financial Crimes Commission (EFCC) recently arrested prominent businesswoman and socialite, Aisha Achimugu, following allegations of fraudulent activities related to a multi-million-naira contract awarded to her company by a South-West state.
Achimugu, who serves as the Chairman of Bluewave Exploration and Production Limited, was detained last weekend after a civil society group filed a petition accusing her of involvement in dubious dealings concerning the contract. She was granted bail the following day but has been instructed to return for further questioning in the coming week.
Beyond her corporate endeavors, Achimugu is well-known in elite circles across Lagos and Abuja. Her social media presence showcases a lavish lifestyle, featuring exotic vacations, exclusive yacht parties, and private jet travels.
This arrest marks a significant challenge for Achimugu, whose business empire and social standing are now under intense public scrutiny. The EFCC’s investigation is ongoing, and the outcome may have far-reaching implications for her career and reputation.
A source hinted that Achimugu was asked by the commission to report back on the 30th of March,2025 for further questioning.
Not really bothered by the investigation, the billionaire days after her arrest launched a 30-day feeding Ramadan programme where she targets the less-privileged.
Additional Information- Streetjournal Magazine
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.
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