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IPMAN MD Debunks N10.9bn Fuel Subsidy Scam

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9 years ago

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The Managing Director
(MD), IPMAN Investment Company, Mr Tunji Adeniji,  has debunked an alleged report of N10.9 billion subsidy scam credited to Mr Chinedu Okoronkwo, a factional President of the association.
This is contained in a communiqué issued and signed by Adeniji after the IPMAN National Executive Council (NEC) meeting in Abuja on Sunday and made available to our correspondent in Lagos.
Adeniji described as ‘false’ the allegation that its Board of Trustees (BoT)’s Chairman, Alhaji Aminu Abdulkadir, embezzled the proceeds of petroleum subsidy claim of the association amounting to over N10.9 billion.
He said that the allegation, which was recently leveled against Abdulkadir by Okoronkwo , was untrue insisting that Abdulkadir was not guilty of such a crime.
The MD said that the association would not hesitate to institute court charges against Okoronkwo for misleading and misinforming the general public.
According to him, Okoronkwo had earlier commended the IPMAN investment committee for its effective and efficient accountability of the association’s investments.
The IPMAN investment boss said that the allegation was the handiwork of elements that claimed they were unhappy with the current peaceful state within the company.
He, however, challenged anyone with evidence of wrong doing in IPMAN to come forward with such information for appropriate actions, insisting that there was nothing like a N10.9 billion subsidy claim.
Adeniji said that IPMAN Investment Company is legally constituted with credible members managing it.
He said that all permits given to the company by the Petroleum Products Pricing and Regulatory Agency (PPPRA) were duly executed and the truck out certified.
“IPMAN Investment Company requires an express apology from Okoronkwo for his acts of gross misrepresentation of facts or he should be ready to face appropriate legal actions,’’ he said.
Adeniji said that IPMAN was a company registered in Nigeria and engages in the importation of refined petroleum products under the Petroleum Support Fund (PSF) scheme of the Federal Government.
“The Petroleum Support Fund (PSF) scheme was set up to enable adequate payment of subsidy to marketers through the Petroleum Produce Pricing and Regulatory Agency (PPPRA).
“The Debt Management Office (DMO) and the Central Bank of Nigeria (CBN) also regulate subsidy payment.
“Subsidy payment is a cost recovery system whereby marketers are paid the differential between the total cost of import and the regulated price of the government which can be over-recovery or under-recovery as the case may be.
Adeniji said that it was regrettable for an individual of his calibre to be talking of subsidy payment that had been executed, verified and probed in 2011 by the Economic and Financial Commission (EFCC), the National Assembly and the Aig-Imokhuede Committee set up by the Federal Government.

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Kenyan Runners Dominate Berlin Marathons

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3 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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3 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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3 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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