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$49.8bn Scam: Jonathan Orders Sanusi To Resign

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In a move that may be bad for the image of a leader that has been criticised for his lackadaisical stance on corruption, President Goodluck Jonathan has asked the Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, to resign immediately.
The Tide gathered that the president allegedly took the decision on the grounds that the letter Sanusi wrote to him on the unremitted $49.8 billion oil revenue to the Federation Account was leaked to former President Olusegun Obasanjo by the CBN governor.
Just months to the end of his tenure as governor, Sanusi has, however, refused to resign, even as he denied leaking the letter to anyone.
He was said to have informed the president during the heated telephone exchange that he could only be removed by two-thirds of the Senate as required by law.
The president was reported to have called Sanusi and accused him of leaking the letter to Obasanjo, which enabled the latter to use it as one of many allegations he levelled against him in his letter titled: “Before It is Too Late”.
According to a Presidency source, the president was very angry and was not prepared to allow Sanusi proceed on his terminal leave in March, and therefore, asked him to tender his resignation before the close of business last Tuesday.
Angered by the president’s position, Sanusi, who denied that he had leaked his letter to Obasanjo, made it clear he would not be forced out, except he is removed by two-thirds of the Senate.
Faced with that difficult choice since majority of Peoples Democratic Party (PDP) members have decamped to the All Progressives Party (APC), the President and his aides have allegedly decided to suspend the CBN governor, and use security operatives to prevent him from entering the premises of the bank until the end of his tenure in June, 2014.
The meeting yesterday, sources said had perfected strategy to allow Sanusi go to court to seek redress while the President appoints current Deputy Governor, Financial Systems Stability, Kingsley Moghalu as interim CBN governor to oversee the affairs of the bank until a substantive governor is appointed in June.
But Sanusi had told the president that the letter was available in the Presidential Villa, Finance Ministry and the Central Bank of Nigeria, and wondered how he (Sanusi) could have leaked the letter, which was so widely circulated, to a former two-term president of Nigeria who has his people all over the place.
Sanusi also expressed surprise that the president could ask him to resign instead of the president looking for those responsible for the non-remittance of the funds.
Sources say his response threw the president aback, degenerating into a heated exchange during which Sanusi told the president that as the Federal Government’s Chief Economic Adviser, mandatorily required to bring issues of critical economic importance to the attention of the president, he had done a patriotic duty to his country.
“He informed the president that it is necessary to deal with the issues and not the letter that had been leaked since it has been established that it was not $49.8 billion that had not been remitted to the Federation Account, but $10.8 billion, which was still in dispute.
“Sanusi felt he was being forced out for doing his patriotic duty to his country by drawing attention to the unaccounted funds. He only has two months to go, so this was a ploy to force him out and destroy his career and reputation.
“He knew this and for this reason, refused to throw in the towel as requested by the president,” a source told newsmen.
The president was said to have however remained adamant and insisted on the CBN governor’s resignation.
The Presidency is reported to be worried that Sanusi has remained adamant in exposing the corruption in NNPC by insisting that a proper audit of the account of the corporation be carried out by an external auditor, especially after the NNPC could not still account for $18 billion in crude oil sale between January 2012 and December 2013 in recent accounts reconciliation meetings between the CBN and NNPC.
It would be recalled that Sanusi had written to the president in September informing him that, among other issues, the Nigerian National Petroleum Corporation (NNPC) had not remitted $49.8 billion of oil revenue to the Federation Account over a 19-month period.
Although the letter was not made public until December 4, 2013 when it was leaked, Obasanjo referred to it in his letter dated December 2, 2013, to the president.

JTF members at a farewell parade for the outgoing JTF Operation Pulo Shield Commander, Maj.-Gen. Bata Debiro in Port Harcourt on Wednesday.

JTF members at a farewell parade for the outgoing JTF Operation Pulo Shield Commander, Maj.-Gen. Bata Debiro in Port Harcourt on Wednesday.

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Nigeria Exceeds OPEC Quota As Production Hits 11-month High

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Nigeria’s crude oil production has surged to an 11-month high in May, 2026, with the country exceeding its Organisation of the Petroleum Exporting Countries (OPEC) production quota.

The average crude oil production recorded during the month of May represents 102 per cent of Nigeria’s 1.5mbpd of production quota allocated by the OPEC.

The production report released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday, disclosed that Nigeria’s oil production averages 1,530,354 barrels of crude oil and 170,446 barrels of condensates per day (bpd).

According to the report, this brings the total combined production to 1, 700, 800 barrels per day and consolidating Nigeria’s position as Africa’s largest oil producer.

The report said the production performance during the review period remained robust, with combined crude oil and condensate output ranging between a low of 1.51 million bpd and a peak of 1.86 million bpd.

It said the May 2026 production figures represented the highest recorded by Nigeria since July 2025, when output surged to 1,712,282.

“In strict crude oil terms (excluding condensates), the 1.53 million barrels recorded in May 2026 represents the highest Nigeria has witnessed since January 2025 when crude oil production hit 1.538mbpd.

“The latest crude oil production statistics thus represents a 15-month high on a month on month basis, production rose by 2.77 per cent in May 2026 as against 1.48mbpd in April,” it said.

The report said the broader production trend over the last five months had also remained positive.

It said combined crude oil and condensate output increased from 1.48 million bpd in February to 1.54 million bpd in March, 1.66 million bpd in April, and then 1.7 million bpd in May, underscoring sustained growth in Nigeria’s hydrocarbon production levels.

According to the report, among production streams, Bonny Terminal led the pack with a total blend of 293,870 bpd, closely followed by Forcados Terminal at 289,900 bpd, Qua Iboe ranked third with 173,360 bpd, while Escravos Oil Terminal contributed 135,470 bpd.

It said the Odudu (Amenam Blend) completed the top five production streams, accounting for 63,250 bpd during the month under review.

The NUPRC attributes the rise in production to a sustained positive momentum as operations remained stable throughout the reporting period with no significant pipeline or facility outages recorded.

Additionally, all previously scheduled turnaround maintenance activities had been successfully completed, contributing to improved operational reliability and production efficiency.

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Reps Pass State Police Bill

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The House of Representatives, yesterday passed a landmark constitutional amendment bill to establish state police nationwide, marking a significant milestone in Nigeria’s decades-long debate over decentralising policing and strengthening internal security.

The bill, titled “A Bill for an Act to Alter the Constitution of the Federal Republic of Nigeria, 1999 to Provide for the Establishment of State Police and for Related Matters (Sixth Alteration) Bill, 2026,” was approved during consideration at the Committee of the Whole, presided over by Speaker of the House, Rt. Hon. Tajudeen Abbas.

Voting commenced after the Deputy Speaker and Chairman of the House Committee on Constitution Review, Hon. Benjamin Kalu, presented the report on the proposal and canvassed support from lawmakers, stressing the need for a more decentralised policing framework to effectively address the country’s growing security challenges.

The exercise was conducted manually, with members raising their hands to indicate their positions. At the end of the voting, 289 lawmakers voted in support of the bill, one member abstained, while none voted against it, reflecting overwhelming bipartisan backing for the far-reaching reform.

The proposed amendment seeks to fundamentally restructure Nigeria’s policing architecture by creating both Federal and State Police formations.

One of the bill’s key provisions amends Section 214 of the 1999 Constitution to formally establish the Federal Police and the State Police. Under the proposal, the National Assembly would be empowered to prescribe the structure, organisation, administration and powers of the Federal Police, while also providing the legal framework and minimum standards for the establishment and operation of state police services.

The bill stipulates that no state police formation shall commence operations unless it is established by a law enacted by the relevant State House of Assembly and certified as complying with national minimum standards prescribed by an Act of the National Assembly.

It further provides that until a state police force becomes operational, the Federal Police shall continue to exercise policing powers and responsibilities within such states.

In a bid to preserve the autonomy of state police formations and prevent undue federal interference, the bill limits federal intervention in states’ internal security affairs. Under the proposal, the Federal Police may intervene only where there is a complete breakdown of law and order, upon the request of a governor or where a state police force becomes unable to function due to administrative, financial or other operational challenges.

The amendment also proposes significant changes to the police’s appointment and command structure.

Under the amended Section 215 of the Constitution, the Inspector-General of Police would be appointed by the President on the advice of the Nigeria Police Council from among serving members of the Federal Police, subject to confirmation by the National Assembly.

Similarly, a State Commissioner of Police would be appointed by a governor on the advice of the Nigeria Police Council from among serving officers of the State Police, subject to confirmation by the respective State House of Assembly.

The bill empowers governors to issue lawful directives to State Commissioners of Police on matters relating to public safety and the maintenance of law and order. However, where a commissioner considers such directives unlawful or inconsistent with accepted policing standards, the matter may be referred to the Nigeria Police Council, whose decision shall be final.

The proposal also amends Section 84 of the Constitution by replacing references to the “National Police Council and the Federal Police Service Commission” with the “Nigeria Police Council and the Police Service Commission.”

The passage of the bill by the House represents one of the most far-reaching security reforms contemplated since the return to democratic rule in 1999 and is expected to rekindle nationwide debate on issues relating to funding, accountability, operational control and safeguards against abuse.

With the House’s approval, the constitutional amendment bill will now proceed to the Senate for concurrence. Thereafter, it must secure the endorsement of at least two-thirds of the State Houses of Assembly and receive presidential assent before becoming part of the Constitution of the Federal Republic of Nigeria.

If eventually enacted, the legislation would usher in a new era of multi-layered policing in Nigeria and could redefine the country’s approach to tackling banditry, terrorism, kidnapping and other forms of violent crimes through a more localised security architecture.

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FG Declares Today Public Holiday To Mark Democracy Day

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The Federal Government has declared today, public holiday to commemorate Nigeria’s 27 years of unbroken democratic rule.

This is contained in a statement  in Abuja, by the Permanent Secretary, Ministry of Interior, Magdalene Ajani.

Ajani said that the  Minister of Interior, Dr Olubunmi Tunji-Ojo, made the declaration on behalf of the federal government.

Tunji-Ojo reaffirmed the federal government’s commitment to the preservation of democratic ideals, rule of law, transparency, accountability and inclusive governance.

He assured that the ministry in collaboration with relevant security agencies woulsd continue to take appropriate measures in maintaining and strengthening Nigeria’s internal security.

The minister noted that a secured and stable environment was essential to democracy and national development.

He urged Nigerians to see the holiday as an opportunity for civic reflection.

“As we mark this historic day, every Nigerian is encouraged to remain law-abiding, uphold the institutions that sustain our democracy, and remember that the strength of any democracy lies ultimately in the character of its citizens,” he said.

He also said that June 12 every year remained a significant day in Nigeria’s history in honour of the courage, resilience and sacrifices of Nigerians whose efforts made democratic governance possible.

“Their legacies continue to inform the values and responsibilities of the Nigerian state,”Tunji-Ojo added.

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