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Senates Rejects NNPCL’s Explanation, Orders Refund of N210trn to Govt

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The Senate has rejected the explanations provided by the Nigerian National Petroleum Company Limited (NNPCL) regarding the ₦210 trillion outstanding against the oil firm.

It came to the conclusion on Wednesday that the money, which had not been accounted for, must be refunded to the Federation Account by the company.

The Senate Committee on Public Accounts chaired by Aliyu Wadada, which has been on the probe for months, took the decision on Tuesday after the Group Chief Executive Officer (GCEO) of the NNPCL, Bayo Ojulari, failed to turn up at its resumed sitting at the National Assembly.

The session was called to give the NNPCL the opportunity to make clarifications on the answers the company provided to the 19 questions the panel asked the firm about the ₦210 trillion.

Following a review of the operations of the NNPCL from 2017-2023, the committee sighted the unexplained transaction, totaling ₦103 trillion (accrued expenses) and ₦107 trillion (receivables) in the audited financial statements of the firm, prompting it to raise the queries.

After weeks of back-and-forth between the committee and the NNPCL, the NNPCL eventually responded to the 19 questions.

However, at a resumed session, Senator Wadada frowned at the absence of  Ojulari, whom the committee said gave no reasons for staying away, consequently rejected the explanations.

The Chairman of the committee, Senator Aliyu Wadada, while speaking on the panel’s findings, said the responses were not only unsatisfactory, but were also contradictory.

“NNPC claimed ₦103 trillion as accrued expenses and ₦107 trillion as receivables -amounting to ₦210 trillion. On question eight, NNPC’s explanation on the ₦107 trillion receivables -equivalent to about $117 billion -contradicts available facts and evidence provided by NNPC itself. The committee is duty-bound to reject this,” he stated.

Wadada further questioned how the firm could pay ₦103 trillion in Cash Calls to Joint Venture (JV) partners in 2023 alone, despite generating only ₦24 trillion in crude revenue between 2017 and 2022.

“Cash Call arrangements were abolished in 2016 under the President Muhammadu Buhari administration. How can NNPC claim to have paid ₦103trn in one year, when it only generated ₦24trn in revenue over five years? Where did NNPC get that money?

“As far as this committee is concerned, that figure is unjustifiable and unacceptable. The ₦103 trillion must be returned to the Treasury. This will be concluded when the NNPCL appears before us,” he stated.

The committee said it would have been better for the current management of the NNPCL to admit that it encountered challenges in explaining what happened to the funds than giving contradictory answers to the questions.

“If the present management of NNPCL is finding it difficult to provide acceptable answers, it is better they say so. The committee will not hesitate to subpoena former officials of NNPCL and NAPIMS,” Wadada added.

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Wike Begins Money-for-Vote Campaign, Dangles N10m Bounty for Abuja Councillors to Reelect Tinubu

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Minister of the Federal Capital Territory, Nyesom Wike, has introduced what observers view as a novel dimension to Nigeria’s electoral process as he sensationally promised a N10 million cash reward to every councillor who “delivers” his ward for President Bola Tinubu and All Progressives Congress candidates at the 2027 general election.

Wike made the declaration at a Rainbow Coalition stakeholders’ meeting in Kwali Area Council, attended by traditional rulers, political stakeholders and residents.

The minister, according to Channels TV, urged councillors to mobilise residents and community groups to guarantee victory for the APC in their wards, attaching a price tag to electoral success.

“Any councillor that delivers his ward will get N10 million reward. Therefore, go and meet your leaders, go and meet your youth groups, go and consult with associations. Let’s deliver our ward to Mr President,” Wike reportedly announced.

The statement has triggered concerns over vote-buying, inducement of grassroots officials and the weaponisation of public office to compromise the 2027 polls.

Critics argue that dangling N10 million per ward to elected councillors blurs the line between legitimate mobilisation and financial inducement, reducing the election to a transactional contest where delivery is rewarded in cash.

With months to the general elections, the promise raises fresh questions about whether the will of voters will count, or whether wards will be delivered through coercion, compromise and cash.

Observers warn that when councillors – the closest elected officials to the people – are placed on a bounty, the stage is set for intimidation of opponents, manipulation of results and rigging at the polling unit level.

The development is being seen as part of a growing pattern of desperation within the political class to secure victory at all costs, even if it means monetising the electoral process and compromising its integrity before the first ballot is cast.

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No Automatic Senate President Return for Akpabio, Says APC Chair

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The National Chairman of All Progressives Congress (APC), Professor Nentawe Yilwatda, has declined to endorse Senate President, Godswill Akpabio, for another term as head of the National Assembly ahead of the 2027 general elections.

Yilwadta said he has no preferred candidate for the position, insisting that the decision would rest entirely with senators elected into the next National Assembly.

He made the remarks on Monday during an appearance on Channels Television’s Politics Today programme.

Asked whether the APC would return Akpabio as Senate President if he wins re-election, Yilwatda responded: “Let’s wait for the election first. I don’t have anybody in mind. The Senate will determine who they want to make the Senate President.”

His response comes despite growing support for Akpabio’s bid to retain the position beyond the current legislative term.

In October, senators publicly backed Akpabio’s return as President of the 11th Senate, with some lawmakers declaring that there would be no vacancy in the position.

Akpabio, who has led the Senate since June 2023, is seeking another term in the National Assembly.

However, Yilwatda’s remarks suggest that the APC leadership is not publicly committing itself to any candidate for the Senate presidency before the elections.

The Senate President is elected by members of the upper legislative chamber, meaning Akpabio would still need the support of his colleagues to retain the position even if he wins re-election.

During the same interview, Yilwatda also defended President Bola Tinubu’s physical fitness ahead of the 2027 presidential election and accused opposition parties of relying on blackmail during political campaigns.

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2027: You’ll Suffer for Treachery Against Obi, Sen Umeh Warns Soludo

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The Senator representing Anambra Central, Victor Umeh, has warned Governor Chukwuma Soludo not to commit treachery against the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, in the name of politics.

Umeh pointedly warned Soludo that his unwarranted attacks on Peter Obi would lead to a fight.

The lawmaker issued the warning while speaking at an unnamed gathering in the State, which was captured in a viral video.

Umeh unapologetically said any Igbo person who refuses to vote for Obi is an enemy of the race.

“People are saying that we have to support another person; if we do that, we are destroying ourselves. I’m an Igbo activist, and you can hear my voice in the Senate on all issues of national importance and particularly those that affect the Igbo.

“Peter is our conscience in this election. Any Igbo man who stands up to say we will not vote for Peter Obi is an enemy of the Igbo people, no matter who the person is.

“Nobody can try it here; I have been hearing a lot of things going on in this State. This government; I helped in installing it; nobody came here to be Governor of Anambra State since 2003 without my input. This one that his serving; I was a principal contributor to his ascending that office; he is holding that office in trust for all of us.

“Anything he does in that office, he must discharge it with honour and nobility, and it’s not by sabotaging our own brother.

“I’m saying it so that anybody who sees him can tell me that we don’t want to fight, but he should not commit what is called an abomination by wanting to destroy his brother in the name of politics.

“Nobody on the side is saying support Peter Obi. Everybody on the other side is saying support Tinubu. But we are saying let us stand for the truth. Peter Obi; this is the time, and if he makes it, the Igbo have made it.”

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