News
Troops Neutralise 95 Terrorists
Troops of the Nigerian military, in joint air raids and land mop up operations, have neutralised a high profile ISWAP Commander known as Uzaifa, who was the ‘MINZIR’, the fourth in line of the terrorist leadership structure, who is also believed to be the ISWAP leader of Sambisa forest that took over the leadership after the demise of AbubakarShekau.
He was killed together with 37 other terrorist’s in the North-East Theatre.
Also neutralised in joint operations are scores of terrorists in Niger, Plateau and Kaduna states while 58 terrorists suspects were arrested and 20 kidnapped victims rescued from terrorist’s hideouts.
In the FCT, troops of the Presidential Guard’s Brigade raided suspected terrorists’ hideouts in Dei-Dei and Gwagwalada communities, arrested eight terrorists and recovered five AK-47 rifles andthree pump action guns.
In Kogi State, troops arrested a wanted gunrunner and arms supplier to kidnappers, Naziru Mohammed; and recovered 1,000 rounds of 7.62mm ammunition and other dangerous weapons from his hideout.
Furthermore, troops battling against economic sabotage successfully denied oil thieves and illegal oil bunkerer’s, the stealing and siphoning of crude oil/products worth more than N3.7billion while also destroying scores of illegal refineries and storage facilities in the Niger Delta.
The Director of Defence Media Operations, Major General Musa Dan Madami, made these known, yesterday, in Abuja, at a briefing on activities of the military and security agencies against criminal elements in the country.
Madami said, “Troops in the North-East theatre of operation conducted several operations in Gwashiri, Pulka-Kirawa axis, Amanwa village, Tungushe, Bama town, Mulgwai village, Kwatara, Gubio, Kekeno, DogonChuku, Miringa Market and Monguno town all in Borno State as well as, BuniYadi – JauroBashin in Yobe State.
“During the operations, troops neutralized 12 terrorists, recovered 18 AK-47 rifles, one RGP, two FN rifles, 83 rounds of 7.62mm special, 13 bicycles, oneGolf car, large quantity of substance suspected to be cannabis sativa, bags of maize, three grenades, four mobile phones, 47 rustled cattle, six donkeys, 20 cartons of super cereal, 51 Jerricans of groundnut oil, two cartons of cigarettes, medical suppliers, food stuffs and 40 pairs of male and female clothing.
“Troops also arrested eight suspected terrorists, four logistic suppliers, rescued four civilians and the sum of N1, 005, 360.00 cash. Also as troops of Operation Hadin Kai continue to consolidates on their success against the terrorists more of them surrendered to own troops within the period under review, a total of 1, 652 BHT members and their families have surrendered to own troops at different location. The number comprises of 320 adult males, 442 women and 890 children.
“In a related development, the air component of Operation Hadin Kai on August 20, 2022 carried out air strikes on terrorist’s enclaves in Sambisa forest and the Tumbuns in Borno State with various degree of success recorded.
“Acting on credible intelligence about the gathering of terrorists at a location revealed to be the enclave of a notorious terrorist being hosted by a top ranking commander, believed to be the Islamic State of West Africa Province leader of Sambisa forest who took over the leadership after the demise of AbubakarShekau.
“Consequently, the air strikes were carried out on the enclave. Feedback revealed that 25 of the terrorists were neutralized in the strikes with 18 serious wounded. Among those neutralize was a high profile commander known as Uzaifa, who was the ‘MINZIR’, which connotes the fourth in line of the terrorist leadership structure.
“Similar air strikes were also conducted in the Tumbuns near Lake Chad at a location revealed to be the training camp of the terrorists. Report gathered revealed that scores of the terrorists were neutralized in the strikes. All recovered items and rescued civilians were handed over to the relevant authorities while the surrendered Boko Haram terrorist members and their families were profiled for further action.
“Troops of Operation Whirl Punch sustained the momentum to deny terrorists freedom of action in their Joint Operation Area. Consequently, the air component of Operation Whirl Punch conducted air interdiction operations at a terrorist’s enclave in Kurebe in Shiroro Local Government Area of Niger State, thereby neutralising several terrorists who had assembled for a meeting hosted by a notorious terrorist leader,AminuDuniya.
“In a related development, troops of Guards Brigade raided some suspected terrorist hideout at Deidei Abattoir in Abuja Municipal Area Council and Dupka village in Gwagwalada Area Council of the Federal Capital Territory. During the raid operation 8 suspected terrorist were arrested, five AK-47 rifles and three pump action gun were recovered, while large quantities of items suspected to be cannabis sativa, three machetes, knives among other items were also recovered.
“Similarly, troops of Operation Safe Haven in conjunction with vigilantes and Nigeria Security and Civil Defence Corps conducted operational activities at Mum village, Garga District, in Kanam Local Government Area of Plateau State, as well as Mariri Town, Kauru Local Government Area and ZangoKataf Local Government Area of Kaduna State.
“During the operations, 21 suspected terrorist, seven suspected kidnappers and three suspected vandals were arrested at different locations, while seven terrorists were neutralised with 12 civilians rescued from the kidnapper’s den. Items recovered from the suspects include three motorcycles, eight mobile phones, some quantity of illicit drugs and the sum of N60,000.00.
“Furthermore, troops of Operation Whirl Stroke in conjunction with the Department of State Service conducted raid operation at bandit’s camps at Ankya Village, ZakiBiam town in Ukum Local Government Area, Mahaga Community in Logo Local Government Area of Benue State, as well as Jamata in KotonKarfe Local Government Area of Kogi State.
“During the operation a notorious bandit identified as Timothy Nwagaga (aka Ambiju) was arrested at ZakiBiam town in Benue State. It was revealed that the suspect is a gang member of a notorious bandit known as Anhie (aka short man) who has been on troops wanted list.
“In the same vein, a wanted gun runner known as Naziru Mohammed was arrested at Murtala Mohammed Bridge, in KotonKarfe Local Government Area of Kogi State. items recovered during the operation include 1,000 rounds of 7.62mm ammunition, large sum of money, two mobile phones, one tricycle and one motorcycle. All recovered items have been handed over to the relevant authorities for further action
“In the North-West, troops of Operation HadarinDaji, engaged terrorists in their enclaves in a coordinated joint operation by the land and air component around Chikun Local Government Area of Kaduna State were engaged.
“Intelligence had revealed that the terrorists planned to attack villages within the vicinity where there were operating. Consequently, own troops leveraged on the report and conducted clearance operation against the terrorists that resulted in the neutralization of several of the terrorists while others fled with severe gunshot wound.
“Items recovered include two GPMGs, three AK-47 rifles and seven motorcycles. Furthermore, troops raided terrorist hideout at Bida village market in Chikun Local Government Area, Zaria-Ikara road around Kwari village in Ikara Local Government Area, Kaya-Giwa in Giwa Local Government Area, Kabode forest in Kachia Local Government Area all in Kaduna State.
“During the operations, troops arrested 37 suspected terrorists, recovered 11 motorcycles, eight cutlasses, three mobile phones and rescued eight civilians.
“In a related development, the air component of Operation HadarinDaji conducted air interdiction operations at Rugu Forest in Safana Local Government Area of Katsina State and within Zamfara State as well as Dukura, Ungushi and Umbutu villages in Kebbi Local Government Area of Sokoto State on terrorist hideouts and enclaves.
“The air interdiction operation was in response to intelligence report on the gathering of terrorists in the forest. Consequently, the hideouts and enclaves were bombarded and several of the terrorists were neutralized. While troops on patrol engaged terrorist along Magani road within Zamfara State and neutralized a notorious terrorist’s commander identified as SojanMadagwal who was responsible for various attacks and road blocks along Gusau road and also on the wanted list of security agencies with members of his gang.
“During the operation troops recovered large quantity of different calibers of ammunitions and two motorcycles.
“Similarly, the air component conducted another air interdiction operation on terrorist hideouts around Damba at Kaso Hills, Kajuru, and various locations within its environs in Kaduna State. During the operation troops sighted terrorists with large herds of cattle trying to escape on sighting own troop. Subsequently, they were struck with scores of the terrorists neutralized.
“Also, the air component responded to a distress call on the activities of several terrorists on motorcycles convoy moving from Udawa to Kurebe in Chikun Local Government Area of Kaduna State. The terrorists were engaged in an airstrike while those who fled to nearby bushes were mopped up by the land component. All recovered items were handed over to the relevant authorities for further action.
“In the South-South, troops of Delta Safe, Dakatar Da Barawo, and Octopus Grip during several operations, discovered and destroyed several illegal refining sites, which includes, 493 dugout pits, 512 storage tanks, 413 cooking ovens and 59 wooden boats.
“Also, troops recovered four tankers, two speed boats, one generator, one outboard engine, 14 pumping machines, 3 AK47 rifles, 25,977.15 Barrels of crude oil, over 3.2million litres of Automotive Gas Oil, 26,575 litres of Premium Motor Spirit and 2,000 litres of Dual Purpose Kerosene. Troops also arrested 21 pipelines vandals. All recovered items and apprehended oil thieves were handed over to the appropriate authorities for further action.
“Cumulatively, a total value of products denied oil thieves were N3.7billion worth made up of N1,313,020,242.00 only of crude oil and N2,374,607,471.00 only of AGO.
“Others are N4,650,625.00 only of PMS and N15,981,000.00 only of DPK. Consequently, a grand total of N3,708,259,338.00.
“In the South-East, troops fighting to curb the illegal activities of the proscribed Indigenous People of Biafra in the South-East zone and restore normalcy to the region carried out raid and clearance operations in Ebonyi Local Government Area of Ebonyi State, Anambra State and Abia State and suspected Indigenous People of Biafra/Eastern Security Network militia camps.
“During the operations troops arrested one member of the group and recovered one AK-42 assault rifle, six pump action guns, one locally made berretta gun, five locally fabricated doubled barrel guns, 98 live cartridges, two machetes, two axe, 20 motorcycles, a pair of police camouflage uniform, one military camouflage uniform and a ballistics vest.”
News
EFCC Arrests 33 Suspected Internet Fraudsters In PH
Operatives of the Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested 33 suspected internet fraudsters in Rivers State.
The Spokesperson for the commission, Dele Oyewale, said this in a statement in Abuja, last Wednesday.
Oyewale said they were arrested in their hideouts in Iwofe and Ogbogoro areas of Port Harcourt in a sting operation, based on credible intelligence on their suspected involvement in internet fraud.
“Items recovered from the suspects include various mobile phone devices, laptops, boxes of fake United States Dollar and fake Federal Bureau of Investigation (FBI) stamps.
“Others are fake Customs stamps, airport clearance stamps, DHL and FedEx stamps and two cars.
“The suspects would be charged to court upon conclusion of investigations,” he said
News
UK Plans To Reuse Old Graves, Reopen Full Graveyards
Old graves could be reused under new recommendations put forward to manage the shortage of burial space in Britain.
Under the proposed changes put forward by the Law Commission, graveyards declared “full’’ during the Victorian era could also be reopened.
The commission has warned the urban areas across England and Wales of fast running out of burial space.
There have been proposed changes to allow any burial ground to reuse graves, but only following public consultation and government approval.
Safeguards would also be in place for each individual grave, with plots only eligible for reuse when the last person was buried at least 75 years ago.
Another separate public consultation is considering the time frames around grave reuse, and what would happen if family members objected.
Prof. Nick Hopkins, commissioner for property, family and trust law, said any change would need to be tackled in consultation with the public.
“Our proposals provide a significant opportunity to reform burial and cremation law and secure burial space for future generations.
“This must be done sensitively and with wider public support,” he said.
Current legislation made it illegal to redevelop a graveyard for any reason other than to grow a place of worship.
Other publicly-run cemeteries can be redeveloped if the owner was granted an Act of Parliament.
Alex Davies-Jones, parliamentary under-secretary of state at the Ministry of Justice, said the government was supportive of the Law Commission’s work.
“We await with interest the Law Commission’s recommendations, in due course, on the most appropriate framework to provide modern, consistent regulation for burial and cremation,” she said.
Public consultation on the proposed changes is open until January 2025.
News
Crude-For-Loans: NNPCL Votes 8m Barrels Monthly For $8.8bn Debt
The Nigerian National Petroleum Company Limited has pledged 272,500 barrels per day of crude oil through a series of crude-for-loan deals totalling $8.86bn.
By pledging 272,500 barrels daily, it means that about 8.17 million barrels of crude will be used for different loan deals by the national oil firm on a monthly basis.
This is according to an analysis of a report by the Nigeria Extractive Industries Transparency Initiative and the NNPC’s financial statements.
Under these deals, notable projects include Project Panther, Project Bison, Project Eagle Export Funding (Original, Subsequent, and Subsequent 2 Debts), Project Yield, and Project Gazelle.
According to The Tide’s source, NNPC has already fully repaid $2.61bn in loans, representing 29.4 per cent of the total credit facility, while $6.25bn or 70.6 per cent, remains outstanding.
Also, out of the $8.86bn credit facility, only about $6.97bn has been received from seven crude-for-loan deals.
One of the key projects, Project Panther, involves a joint venture between NNPC and Chevron Nigeria Limited, backed by international and local banks.
The project secured a $1.4bn loan facility, with 23,500bpd pledged to service the debt. Repayment is set to commence after a moratorium, with financing terms including an SOFR (Secured Overnight Financing Rate) plus 5.5 per cent margin and a liquidity premium.
Another significant deal is Project Bison, tied to NNPC’s attempt to acquire a 20 per cent equity stake in the Dangote refinery. However, the national oil company only acquired a 7.25 per cent stake.
The project secured a $1.04bn loan from Afrexim Bank, with 35,000 bpd pledged as collateral. NNPC fully repaid this loan in June 2024.
Project Eagle Export Funding comprises three separate loans aimed at meeting various financial obligations.
The original loan, secured in 2020 for $935m, was serviced with 30,000 bpd and was fully repaid by September 2023.
A subsequent loan of $635m was also fully repaid by the same period. The third tranche, known as Project Eagle Export Funding Subsequent 2 Debt, was secured in 2023 for $900m, with 21,000 bpd pledged. Repayment is scheduled to begin in June 2024, and the loan will mature in 2028.
Project Yield, designed to support the Port Harcourt Refining Company, involves a $950m loan, with 67,000 bpd pledged for repayment.
The repayment of the loan, secured in 2022, will begin in December. This seven-year facility is crucial to refurbishing the refinery and enhancing domestic refining capacity.
However, despite this crude-for-loan arrangement, The Tide reports that fuel production at the Port Harcourt refinery has yet to commence, despite multiple postponements as of August. Promises from the Federal Ministry of Petroleum Resources and NNPC have repeatedly fallen through.
More recently, there was the Project Gazelle deal, which aimed to stabilise Nigeria’s foreign exchange market.
In December 2023, NNPC secured a $3bn forward sale agreement, pledging 90,000bpd from Production Sharing Contract assets to cover future tax and royalty obligations.
As of the end of 2023, $2.25bn had been drawn from this facility, with repayments scheduled to begin by mid-2024.
These crude-for-loan deals come at a time when Nigeria is struggling to boost its oil production.
The NEITI 2022-2023 report revealed a significant decline in crude oil output, reaching the lowest levels in a decade. In 2022, the country produced 490.94 million barrels of crude oil, a steep drop from the peak of 798.54 million barrels in 2014.
Although production slightly improved to 537.57 million barrels in 2023, this still represents only 67.16 per cent of the country’s peak production capacity.
One of the major challenges facing the sector is production deferment. In 2023, Nigeria deferred 110.66 million barrels of crude oil, down from 153.44 million barrels in 2022.
The deferment was primarily due to unscheduled maintenance, repair issues, and oil theft.
Despite government efforts to curb these issues, including initiatives to reduce theft and sabotage, operational inefficiencies persist.
NEITI reported that oil theft and sabotage resulted in the loss of 5.25 million barrels in 2023, exacerbating production struggles.
The House of Representatives Special Joint Committee recently directed NNPC to halt further crude-for-loan agreements.
This directive follows reports that the company is planning to borrow an additional $2bn in oil-backed loans amid efforts to settle a $6bn backlog owed to international oil traders, particularly following the removal of fuel subsidy.
The Tide’s source reported that the NNPC was in talks for another oil-backed loan to boost its finances and allow investment in its business, according to the Group Chief Executive Officer, NNPC, Mele Kyari.
Kyari said the company wanted the new loan against 30,000-35,000 barrels per day of crude production, though he declined to say how much money it sought.
Nigeria’s government finances rely on oil the NNPC exports, which provides the bulk of crucial foreign exchange reserves. However, pipeline theft and years of underinvestment have sapped oil production in recent years, and the cost of fuel subsidies has further depleted cash reserves.
President Bola Tinubu has been struggling to implement reforms in Africa’s biggest oil exporter – including eliminating fuel subsidies and allowing the naira currency to trade close to market levels – without putting the country’s population at a cost-of-living breaking point.
It explained at the time that the oil company would use the loan to support the Federal Government in stabilising Nigeria’s exchange rate.
The facility, among other things, would help the Federal Government attend to some of its dollar obligations, assist the Central Bank of Nigeria in stabilising the foreign exchange market, and provide funding for NNPC.
Providing details about the deal in the document titled, “Everything you need to know about the NNPC Limited’s $3.3bn loan, also known as Project Gazelle,” NNPC said, “This is a financing agreement secured by NNPC Limited to prepay future royalties and taxes to the Federal Government.”
The company also stated that it adopted a lower price benchmark for the $3.3bn crude-for-cash loan to reduce the risk of default and ensure financial stability.
Giving details on the benchmark oil price, the company said the facility used a conservative crude price of $65/barrel to calculate the allocated crude to be produced and sold.
NNPC also said repayments were strategically planned and tied to future oil sales, with conservative pricing in oil sales contracts mitigating the risks associated with oil price volatility.
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