Connect with us

Business

Grandma Nabbed For Cocaine Trafficking

Published

on

A 56-year-old grand mother has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at the Murtala Muhammed Airport, Ikeja Lagos for allegedly inserting 20 wraps of cocaine in her private parts and ingesting 65 wraps.

The suspect, Abiola Khadijat who resides at Musa Adewokun Street, Ojota Lagos was arrested on October 7, at about 9 pm. She was to travel to Atlanta, United States (U.S.) when she tested positive to drug ingestion during screening of passengers on Delta Airline flight.

Abiola, an international trader said she was indebted and decided to smuggle narcotics. “A man I met in a popular eatery introduced me into the drug trade. I attempted suicide several times but I was encouraged. I used to go to London to buy clothes and jewelleries since 2004 but I lost everything.

I have three daughters; the eldest who is 21 is a single parent like me. Now I am old and cannot work anywhere, no help from anywhere and I got frustrated. They said they will pay me when I get to the US,” she said.

Another suspect, Godday Ugweogbu, 31 was also arrested on his way from Brazil on October 8, with 93 wraps of substances that tested positive for cocaine in his stomach.

Ugweogbu who hails from Orlu in Imo State said: “I excreted three wraps in the flight, but for fear of arrest I washed them and swallowed them again. I have financial problem. I was stranded in Brazil. I decided to smuggle the drugs because I was promised N2.5 million”.

He was caught during the screening of passengers on a South Africa Airline flight.

The agency also intercepted 6.350 kilogrammes of cocaine industrially packed inside 26 pairs of garden shears and 60 trowels on October 13,

The consignment with Airway bill number 176-8457 3576 was imported from Brazil on an Emirate cargo flight by Fuitful Investment Nigeria Limited at the cargo section of the Murtala Muhammed International Airport (MMIA) Lagos.

Already, two clearing and forwarding agents, Abdullahi Shaba, 42 and Salau Nurudeen Wale have been arrested in connection with the consignment which was shipped by a Brazilian firm, Absoluta Trading. The value of the seized drugs in Lagos is N80.8 million .

The Chairman/Chief Executive of the NDLEA, Ahmadu Giade attributed the recent successes recorded to good foreign collaboration and commitment to the drug war.

“The discovery was made possible through exchange of intelligence with the United Kingdom under the Operation West Bridge. This certainly signifies end of the road to drug barons because we have similar understanding with other countries. We shall continue to detect and seize their drugs notwithstanding the mode of concealment,” Giade said.

He assured that the case will be thoroughly investigated.

Speaking on the arrest, the Acting NDLEA Airport Commander, Alhaji Idris Bello said the drug was factory concealed in the handles of the garden shears and trowels. “The handles were practically broken before the drug was discovered,” he said. The two clearing and forwarding agents arrested are assisting NDLEA operatives in further investigation,” he said.

The agency vowed to dislodge drug cartels in the country following recent discoveries of narcotics imported through the cargo section of the Lagos airport. All the suspects will soon be charged to court.

Continue Reading

Business

PH Refinery Fully Operational – NNPC

Published

on

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said the Port Harcourt Refining Company (PHRC) remains operational and continues to produce on-spec refined petroleum products.
Chief Corporate Communications Officer of NNPC Ltd., Olufemi Soneye,  disclosed this in a statement on Wednesday.
Je said: “The Nigerian National Petroleum Company Limited (NNPC Ltd.) wishes to clarify that despite a minor incident at a section of the Port Harcourt Refining Company (PHRC) earlier today, the plant remains operational and continues to produce on-spec refined petroleum products.
“NNPC Ltd assures the public that there is no cause for concern, as all sections of the recently rehabilitated plant are in full operation.”
The company had earlier dismissed reports of an explosion at the Port Harcourt Refining Company in Rivers State. The state-oil company described the report as ‘false’, noting that what occurred at the refinery was a flare incident, which has been contained fully.
Last November, NNPC Ltd. said the Port Harcourt refinery had commenced production after a long period of rehabilitation.
It said the refinery began truck loading of petroleum products on Tuesday, November 26, 2024.
Continue Reading

Business

Revenue Mgt: NEITI Wants Improved Fiscal Discipline, Transparency  … As FAAC Disbursement Hits Record N15.26trn

Published

on

The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for improved fiscal discipline and enhanced transparency in revenue management at all levels of government.
The call is part of recommendations by NEITI in its Federation Accounts Allocation Committee (FAAC) Quarterly Review, which stated that the FAAC disbursed a record N15.26 trillion to the federal, state, and local governments in 2024, reflecting a 43 per cent increase from the previous year.
The FAAC report said  FAAC the surge underscores the impact of key fiscal reforms, including fuel subsidy removal and exchange rate adjustments, which significantly boosted oil revenue remittances.
The report, Presented by the Executive Secretary of NEITI, Ogbonnaya Orji, the report attributed the increased disbursements to these policy changes, which reshaped the country’s revenue landscape.
According to a statement by the Acting Director, Communication and Stakeholders Management, Obiageli Onuorah, it assessed the fiscal sustainability of government borrowing and the implications for oil-producing states benefiting from the 13 per cent derivation fund.
A breakdown of the N15.26trillion distributed among the three tiers of government shows that the Federal Government received N4.95 trillion, while state governments collectively received N5.81 trillion, and Local government allocations amounted to N3.77 trillion.
State governments recorded the highest percentage increase, with allocations rising 62 per cent from N3.58 trillion in 2023.
Local government allocations increased by 47 per cent, while the federal government’s share rose by 24 per cent, up from N3.99 trillion in the previous year.
The fourth quarter of 2024 saw the highest quarterly disbursement on record, reaching N4.214 trillion, reflecting the impact of sustained revenue growth and fiscal policy reforms.
FAAC attributed key drivers of the record disbursements to major fiscal reforms implemented by the Federal Government.
It said another factor is the removal of fuel subsidies in mid-2023 eliminated deductions that previously reduced distributable oil revenue, leading to increased remittances to the federation account.
It said exchange rate liberalisation also played a crucial role, as the depreciation of the naira boosted naira-denominated mineral revenues by over 400 per cent.
FAAC further said higher global crude oil prices and improved domestic production contributed to increased earnings from the petroleum sector.
Despite these gains, however, the report warned of inflationary pressures, rising debt servicing costs, and fiscal uncertainty for states heavily reliant on oil earnings.
NEITI emphasised the need for proactive measures to stabilise the exchange rate, curb inflation, and strengthen non-oil revenue sources to ensure long-term economic stability.
State-by-State analysis of the disbursement shows that Lagos State received the highest FAAC allocation in 2024, totalling N531.1 billion, followed by Delta with N450.4 billion and Rivers with N349.9 billion.
Akwa Ibom and Bayelsa States also ranked among the top recipients, with N329.2 billion and N270.4 billion, respectively.
Nasarawa received the lowest allocation of N108.3 billion, followed by Ebonyi with N110 billion and Ekiti with N111.9 billion.
Six states — Lagos, Rivers, Bayelsa, Akwa Ibom, Delta, and Kano — each received over N200 billion, collectively, accounting for 33 per cent of total state allocations.
In contrast, the six lowest-receiving states accounted for only 11.5 per cent.
The report highlighted the widening fiscal disparity between states, noting that Lagos, Delta, Rivers, and Akwa Ibom collectively received N1.49 trillion, a sum more than three times the total allocation of the bottom four states — Kwara, Ekiti, Ebonyi, and Nasarawa — which stood at N442.4 billion.
In terms of debt deductions and fiscal sustainability, debt servicing deductions from state allocations amounted to N800 billion, representing 12.3 per cent of total state disbursements.
Lagos State recorded the highest debt deductions, with N164.7 billion, accounting for over 20 per cent of total deductions.
Kaduna State followed with N51.2 billion, while Rivers and Bauchi also saw significant deductions of N38.6 billion and N37.2 billion, respectively.
The report raised concerns over the debt-to-revenue ratios of many states, particularly those with high debt burdens but lower revenue allocations.
NEITI urged governments to adopt conservative revenue projections to prevent budget shortfalls and improve fiscal management to ensure debt sustainability.
In making other recommendations, NEITI urged authorities to increase savings in the Excess Crude Account (ECA) to mitigate future revenue shocks and to strengthen non-oil revenue generation to reduce dependence on FAAC allocations.
The report also recommended measures to stabilise the exchange rate, curb inflation, and ensure conservative budgeting for crude oil production and pricing.
It further stressed the need for governments to prioritise job creation, poverty reduction, and economic stability while maintaining fiscal transparency in line with Open Government Partnership (OGP) and Extractive Industries Transparency Initiative (EITI) commitments.
NEITI reiterated the importance of leveraging its findings to hold all levels of government accountable for the prudent management of public funds, particularly revenues generated from the extractive industries.
Continue Reading

Business

Trans Niger Pipeline In Rivers Resumes After Fire Incident 

Published

on

The Trans Niger Pipeline in Bodo Community, Gokana Local Government Area of Rivers State belonging to Renaissance Africa Energy Holdings has resumed operations after a fire incident on Monday.
A company source, which spoke to The Tide’s source on condition of anonymity, said the pipeline was tested and it passed the integrity, saying there was no blast on the facility.
According to the source, “The pipeline is back in operation. First of all, we had no blasts or explosions in our facilities. We had an unauthorised entry from the operations. Then we sent a team there. The team saw that the site had been accessed.
“We got a call, and a team went out and saw that there were attempts at excavation and arson. But of course, the fire had burnt out. They did an inspection, and there was an adjacent pipeline.
“They tested that and it passed the integrity test. I think the operations went through that adjacent pipeline. Operations are ongoing as we speak”.
The TNP transports 450,000 barrels of crude oil per day to the Bonny Export Terminal, using a pipeline network.
Renaissance Africa Energy Holdings just completed the landmark transaction between itself and Shell to acquire the entire equity holding in the Shell Petroleum Development Company of Nigeria.
Reports of an explosion on the pipeline were one of the reasons President Bola Tinubu declared a state of emergency in Rivers State.
Confirming the incident on Tuesday, the Rivers State Police Public Relations Officer, Grace Iringe-Koko, said the fire was noticed on Monday night during a security patrol.
According to her, Renaissance was immediately altered and the company shut down the affected pipeline and activated safety measures.
While saying there was no further threat to residents or the environment, the PPRO revealed that two individuals have been arrested for questioning as part of an ongoing investigation into the cause of the incident.
Continue Reading

Trending