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Senate Probes Brass LNG Over $784m Fraud …As Reps Indict FG On Poor TSA Implementation

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The Senate has mandated its committees on public accounts and gas to investigate the alleged $784,265,947.54 fraud and other activities of Brass Liquefied Natural Gas (BLNG), including an illegal account in the name of the Federal Government.
Drawing the attention of senators to the issue, last Wednesday, Dino Melaye (Kogi-APC) accused the Nigerian National Petroleum Corporation (NNPC) of operating a fraudulent account in the name of the government.
Presenting a motion titled “Monumental Corruption at the NNPC”, Melaye noted that the Brass LNG was incorporated by the Corporate Affairs Commission on December 9, 2003, and limited by shares of $1million.
He said: “The Senate observes that the shareholders of this company are: the Federal Government (NNPC) represented by Mr Funsho Kupolokun with $490, 000 shares, Philip Brass Limited whose address is in Cayman Island, British West Indies represented by Mr R.L. Smith with a share capital of $170, 000, Eni International B.V. with address in Amsterdam, Netherlands represented by Mr A. Forzoli with share of S170, 000, while the fourth shareholder – Chevron Texaco Brass LNG Limited with address in Bermuda is represented by Mr J.R. Pryor with a share of $170, 000.”
Melaye said the board of directors of the company was composed of foreigners and five Nigerians, all NNPC staff or ex-staff members.
He listed them to include former Group Managing Directors of NNPC, Gauis Obaseki-Jackson and Yakubu Andrew; Ibogomo Gbeyansa, Dawa Joseph Thlama, Ige David, and Buba Mohamman, all staff of NNPC.
Melaye added: “The Senate observes that from the Memorandum of Understanding, Brass LNG is supposed to be a Joint Venture Company with NNPC having the controlling shares and their account domiciled with the CBN.
“The Senate is surprised that the account of this company is with Keystone Bank opened on August 1, 2012, with account number 1005825168; a USA domiciliary account with a closing balance of $137, 086, 462:54 currently, while $648, 179, 487 was recorded as the account’s last inflow on September 19, 2016, and a withdrawal of $4million was effected on the 18th November, 2016, without BVN.”
He stated that there was an urgent need to define the position of the company, its operation, management and mandate in order to halt the seeming corruption.
The Senate in its resolution mandated its committees on public accounts and gas to carry out a ‘holistic investigation into the activities of the Brass LNG and the complicity therein as well as the level of corruption that has taken place, and report back within four weeks.’
Meanwhile, the Chairman of the House of Representatives Ad-Hoc Committee on the Treasury Single Account (TSA), Abubakar Danburam Nuhu has indicted the Federal Government for poor ownership and implementation of the TSA policy, even though it is frequently highlighted by the Presidency as one of its greatest achievements.
He said that the TSA lacks a coordinated office in charge of its implementation and monitoring.
“Issues are being raised by so many people and they do not have answers to them. Who should be responsible for implementation and monitoring?” he asks.
Nuhu, therefore, called for the establishment of a TSA agency to be headed by a director.
He made this point, yesterday, as a guest on Channels Television Business Morning Show, where he was joined by an Economic Analyst from Proshare Nigeria, Babalola Tope, to discuss some of the unfinished businesses surrounding the TSA policy.
The lawmaker said although TSA has been of great benefit to the government, curtailing corruption, blocking leakages and cutting off arbitrary charges previously collected by commercial banks, “The unfortunate thing with the TSA is that there are so many issues that are lingering and affecting the smooth implementation of the account.
“My committee has been doing a lot of work in terms of trying to investigate the TSA for quite some time now but the challenges that are there need to be resolved.”
Stating some of the challenges, he said “For the last two years, the TSA has not been audited and when we called the Auditor General (AuGF), it seems that he has not been part of the TSA implementation. He had to confess to us that there hasn’t been any audit in the last two years.
“Also, there has been no reconciliation between the office of the Accountant General of the Federation (AGF) and the Central Bank of Nigeria (CBN).”
Nuhu also revealed that the foreign currency component of the TSA has yet to be activated for unknown reasons.
“Therefore no one knows exactly how Federal Government funds collected in the Diaspora are administered.
“This means all accounts which are foreign denominated are not yet part of the TSA. They are still sitting in banks, which are probably out of the country or even in Nigeria,” he emphasised.
As at March, 2017, the Minister of Finance, Kemi Adeosun, had revealed that the TSA has processed over N7trillion.
It was also revealed that over 20,000 commercial bank accounts where government revenue where previously stashed had been closed, saving the government about N4.7billion monthly in bank charges.
Although the TSA policy was partially implemented during the Dr Goodluck Jonathan era, the current administration led by President Muhammadu Buhari holds it up as its biggest economic reform strategy.
However, details emerging clearly show that the policy faces serious risks bothering on non-compliance by some agencies and failure to consolidate the policy – giving it a proper legislative backing such that its sustainability beyond the current administration is guaranteed.
Also, it was revealed that the service providers who are responsible for facilitating payments into the Treasury Single Account are being owed by the government.

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FG Spends N10tn On Power Since Privatisation

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The Federal Government says it has invested more than N10tn in Nigeria’s electricity sector since its privatisation in 2013, but the intervention has yet to deliver the reliable power supply expected from the reform.

The Managing Director of FGN Power Company Limited, Kenny Anuwe, disclosed this yesterday at the sixth annual conference of the Power Correspondents Association of Nigeria, in Abuja.

The conference afforded stakeholders to examine the country’s roadmap to reliable and affordable electricity under the Federal Government’s ambition to grow the economy to $1tn by 2030.

Anuwe said the huge government spending has kept the industry afloat but stressed that public funding alone could not address the country’s electricity challenges, calling for increased private sector participation and alternative financing models to accelerate infrastructure development.

The conference was themed, “$1trn Economy: Nigeria’s Roadmap to Reliable and Affordable Power Supply.”

The disclosure raises fresh questions about the outcome of the 2013 power sector privatisation, which transferred the country’s 11 distribution companies and six generation companies to private investors, while the Federal Government retained ownership of the transmission network.

Despite successive government interventions, electricity supply has remained unstable, with inadequate generation, gas shortages, weak transmission and distribution infrastructure, mounting sector debts and poor investment continuing to undermine the industry.

Anuwe acknowledged that government funding had been significant but insufficient to meet the sector’s ambitions.

“Government has invested over N10tn in the electricity sector since the advent of privatisation. But is it enough? How much money is enough? If government didn’t invest that money, the industry would not be standing today.

“No matter how you look at it, no matter how critical you are about what government’s role is, if government did not put that money in, the industry would not be standing,” he said.

He, however, described the continued dependence on government funding as unsustainable, noting that the Federal Government was responsible for more than 95 per cent of new infrastructure investment in the sector.

“That’s not why we privatised. We have all kinds of excuses why that has happened. And a lot of them are legitimate. But it’s time for us to move from excuses to saying how do we fix it. It does not need the government to do everything. I believe that government cannot do everything,” Anuwe said.

He said the country needed simpler investment structures, predictable regulations, clear institutional responsibilities and commercially viable projects to attract private capital.

According to him, the FGN Power Company is targeting an investment structure that could attract 1bn, with the Africa Finance Corporation expected to match the amount.

He disclosed that the company’s ongoing Presidential Power Initiative projects were expected to deliver additional transmission capacity, with a target of 5,540 megawatts by 2029 and at least 60 per cent improvement in grid reliability.

The projects include a second batch of 12 Siemens substations and special projects involving Omotosho substations, which are expected to cumulatively deliver nearly 3,400MW.

Anuwe said most of the ongoing first-phase transmission substation and line projects were now expected to be completed in the first quarter of 2027, following delays.

He added that the company had secured financing for its pilot phase and was working with international technical and financial partners, including Siemens Energy, China Machinery Engineering Corporation and TBEA.

The Minister of Power, Joseph Tegbe, in his address, said the Federal Government had also developed a four-pronged roadmap to address the sector’s challenges through grid stabilisation, sector liquidity and sustainability, asset optimisation and expansion and enhancement of the national grid.

He said the government had raised N1.23tn under its N3.3tn plan to settle verified legacy debts owed to electricity generation companies.

According to him, more than 2.8 million electricity customers have been metered under the Presidential Metering Initiative, while additional transmission capacity exceeding 15,000 megavolt-amperes had been added to the national grid between 2023 and October 2026.

“Let me inform this gathering that we have developed a four-pronged roadmap to address
the power sector challenges comprehensively. These are Grid Stabilisation, Sector Liquidity
and Sustainability, Asset Optimisation, and Expansion and Enhancement of the grid. Central
to this plan is a corridor approach that prioritises major load centres for reliable, round-
the-clock electricity supply.

“A technical audit has been commissioned to establish a robust diagnostic baseline, identify critical constraints and guide the prioritisation, sequencing and
execution of interventions. The corridor approach gives this roadmap a practical industrial focus.

“In the past two months alone, I have commissioned newly installed substation equipment across Kumbotoso, Dankata, Mashi, Dan-Agundi, Apapa, Ijora, Ikeja, Biliri, Walalambe and other locations, adding over 1,300MVA to Nigeria’s transmission capacity. This has unlocked more power to the respective Distribution Companies for onward distribution to industrial and household customers,” Tegbe said.

He added that the government was adopting a corridor-based approach to improve electricity supply in major economic centres, beginning with the Lagos-Ogun axis and Abuja franchise area, which together account for more than 50 per cent of national electricity demand.

The minister said the proposed 24-hour electricity zones would align generation, transmission and distribution capacity with demand in industrial clusters, subject to technical readiness and commercial viability.

He also identified vandalism as a major threat to electricity infrastructure, disclosing that President Bola Tinubu had approved a coordinated anti-vandalism campaign involving security agencies.

Earlier, the Chairman of PCAN, Obas Esiedesa, said reliable and affordable electricity was indispensable to the country’s ambition of building a $1tn economy by 2030.

He urged stakeholders to move beyond identifying the industry’s problems and focus on practical solutions, particularly investment, infrastructure development and sustainable financing.

 

 

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Fubara: Why We Engage Only Qualified Engineers, Indigenous Contractors On Projects …As Governor Bags NATE Platinum Award, Inducted Into Highest Membership Cadre

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Governor of Rivers State, Sir Siminalayi Fubara, has stated that his administration engages indigenous contractors,  qualified engineers and technologists in road and housing projects to ensure the delivery of standard and quality projects in  the State.

 

Governor Fubara stated this yesterday  while declaring open the 42nd Conference of Technologists in Engineering ( CONFOTECH)  and Annual General Meeting of the Nigerian Association of Technologists in Engineering, (NATE), in Port Harcourt.

 

The conference  saw the association conferring its Platinum Award on  Governor Siminalayi Fubara and his induction into the highest membership cadre of NATE in recognition of his massive infrastructural development across Rivers State.

 

Governor Fubara, who was represented by his Chief of Staff, Mr. Sunny Ewule,  expressed  the readiness of his administration to the continued partnership and support for professional associations in promoting professionalism, building capacity and driving technological advancement.

 

He  thanked  the leadership and the entire membership of NATE for finding him  worthy of  their  most prestigious award and honour, the NATE Platinum Award, and the accompanying induction into the highest membership cadre of the association.

 

“I consider  this award not as a personal achievement but as a recognition of the collective effort of  my administration and the good people of Rivers State in the area of infrastructure development and the deployment of engineering and technological solutions to advance the socio-economic development of the state, he said.

 

Governor Fubara noted that the theme of the conference: Safety, Regulation and Enforcement in Engineering: A Panacea to Industrial and Technological Growth in Nigeria, could not be more timely and relevant.

According to  Fubara, no meaningful industrial growth can take place  without safety,  strong regulation, and enforcement, adding that it is for that reason that his  administration has continued to insist on standard, quality delivery, and the engagement of qualified engineers, technologists and indigenous contractors in  road construction, housing and other major developments across the state.

 

In his welcome address, the National President of the Nigerian Association of Technologists in Engineering (NATE), Engr. Dominic Udoatan, said the conference underscores a fundamental truth that safety, effective regulation and strict enforcement are indispensable to sustainable industrial and technological growth.

 

He urged government, regulatory bodies, employers and professional associations to work together to ensure competence, accountability and the protection of lives and property, while expressing the association’s sincere appreciation to Governor Fubara’s administration for its recognition of the importance of infrastructure, technical competence and technological advancement.

 

 

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IGP Warns Police Officers Against Partisanship …Directs Regular Engagement With Journalists

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The Inspector-General of Police, Olatunji Disu, has warned officers of the Nigeria Police Force against engaging in partisan political activities, insisting that the Force would remain neutral before, during and after the 2027 general elections.

The IGP gave the directive during a strategic meeting with senior police officers, including Deputy Inspectors-General of Police, Assistant Inspectors- General of Police and Commissioners of Police, at the Force Headquarters, Abuja, last Wednesday.

He told the officers across the country to maintain regular interactions with journalists as part of efforts to tackle misinformation and fake news ahead of the elections.

He said sustained engagement with the media would strengthen public communication, promote transparency and help curb the spread of misleading information capable of undermining public confidence in the electoral process.

Disu assured that the Nigeria Police Force would not allow itself to be used by politicians or political parties, saying the Force remains committed to providing a level playing field for all participants in the electoral process.

“We will remain neutral, ensure the safety and security of the electorate before, during and after the election,” he said.

The Police Chief warned that any police officer found participating in partisan politics would face appropriate disciplinary and legal consequences.

On the protection of citizens’ rights, the IGP charged Commissioners of Police to ensure that all reported cases of human rights violations are properly documented, investigated and resolved within a reasonable period.

He also directed police commands and zones across the country to establish accessible and visible Complaints Response Units to enable members of the public report alleged abuses and obtain appropriate redress.

Disu emphasized the need to improve the welfare of police personnel, directing Commissioners of Police to ensure prompt payment of death benefits to families of fallen officers and personally visit such families to demonstrate the Force’s support and solidarity.

He highlighted some of the achievements recorded by the Force but maintained that more efforts were required to address prevailing security challenges, particularly banditry in parts of the country.

He also cautioned Commissioners of Police against travelling outside their respective states without obtaining express approval from his office.

The IGP thanked President Bola Tinubu for his continued support and commitment to strengthening the capacity of the police to combat crime and maintain national security.

 

King Onunwor

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