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

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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.

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From Boardroom To Politics, Ex-First Bank Boss Eyes Oyo Governor’s Seat

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Adesola Adeduntan, the erstwhile Managing Director of First Bank has been named as one of the would-be successors of the Governor of Oyo State, Seyi Makinde come 2027.

 

The banker who was allegedly eased out of banking for some undisclosed misdemeanors is claimed to have began consultations as he charts a new path in politics.

 

Sources hinted that Adeduntan had been interested in an elective position but his participation was measured because of his banking career. But now, the coast is clear and he is already aligning himself with some stakeholders ahead of 2027.

 

A list of names including Ilaji boss, Dotun Sanusi, Taofeek Arapaja, Stanley Olajide and many more has features as interested minds gunning for the number one seat in Oyo, a list Adeduntan has recently joined.

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Ex First Bank Boss, Afonja Dies In Auto Crash

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-Femi Bamgbose

 

Details have emerged on Monday, 20th May, 2024 regarding the tragic death of a former Chairman of First Bank Plc, Ajibola Afonja.

 

The 82 year-old man was said to have died in a car accident.

 

The accident occurred somewhere around Oyo town.

 

Sources hinted papermacheonline that the former Minister popularly known by his company name ‘IDS’ Integrated Dimensional System was rushed to the University College Hospital, Ibadan where he eventually gave up the ghost.

 

The news spread like wildfire within the society circle across Oyo State where Afonja was highly revered.

 

Family sources claimed he would be buried today according to Islamic rites.

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‘How Yahaya Bello Withdrew Almost $1M From Kogi Account To Pay Child’s School Fees’ EFCC boss, Olukoyede

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The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that a former governor of Kogi State, Yahaya Bello, transferred $720,000 from the government’s coffers to a bureau de change before leaving office to pay in advance for his child’s school fee.

 

Olukoyede revealed this during an interview with journalists on Tuesday in Abuja.

 

He said, “A sitting governor, because he knows he is going, moved money directly from government to bureau de change, used it to pay the child’s school fee in advance, $720,000 in advance, in anticipation that he was going to leave the Government House.

 

“In a poor state like Kogi, and you want me to close my eyes to that under the guise of ‘I’m being used.’ Being used by who at this stage of my life?”

 

 

Olukoyede further stated that he personally reached out to Bello, offering him a chance to clarify the situation in a respectful setting within the EFCC office but the ex-governor reportedly declined to cooperate, citing fears of harassment from an unnamed woman.

 

The EFCC boss added, “I didn’t initiate the case; I inherited the case file. I called for the file, and I said there are issues here.

 

“On my own, I called him, which I am not supposed to do, just to honour him as an immediate past governor. ‘Sir, there are issues. I’ve seen this case file. Can you just come let us clarify these issues?’

 

 

“He said, ‘Ha! Thank you, my brother. I know, but I can’t come. There’s one lady that has surrounded EFCC with over 100 people to come and embarrass me and intimitade me.’

 

Bello was said to have suggested that the EFCC come to his village rather than conduct an investigation at the agency’s quarters.

 

“I said if that is the issue, I’m going to pass you through my own gate, and you will come to my floor. We will accord you that respect. I will invite my operatives; they will interrogate and interview you in my own office. What could be more honourable than that to allay the fear?

 

“You know what he said: ‘Thank you, sir, but can’t they come to my village? Olukoyede added.

 

The chairman also highlighted the agency’s achievements during his tenure, stating, “We have recovered close to 120 billion and secured over 1,600 convictions in six months.

 

“I’m so passionate about the need for us to move forward in this country. We need the EFCC to survive. There are so many victims that we have wiped tears off their eyes, people that have been swindled in their millions. Every day, we keep recovering money for victims.”

 

PUNCH Online reports that the EFCC chairman, Olukoyede, has vowed to resign from his position if Yahaya Bello is not prosecuted.

 

The EFCC is seeking to arraign Bello on 19 counts bordering on alleged money laundering, breach of trust, and misappropriation of funds to the tune of N80.2 billion.

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