Connect with us

General News

FG Begins Probes of N3.8trn Missing Oil Money

Published

on

oil money.jpg
Kindly share this post

A panel of four governors was, yesterday, constituted to probe the affairs of the Nigerian National Petroleum Corporation (NNPC), following revelations that the corporation withheld N3.8 trillion of the N8.1 trillion generated from oil receipts.

Vanguard newspapers reported that the committee comprising governors of Gombe, Edo, Akwa Ibom and Kaduna states is also to unravel circumstances of the disappearance of another $2.1 billion which was allegedly unilaterally withdrawn by the Goodluck Jonathan administration in the last six months of its tenure.

The revelations came at the end of the inaugural meeting of the new National Economic Council, NEC, in Abuja, yesterday.

Just before the NEC meeting got underway, a senior official of the Goodluck Jonathan administration gave reasons why it passed over an empty treasury to the new government.

Prof. Sylvester Monye, who served as special adviser on monitoring and evaluation to President Jonathan, in an interview, also cautioned the new administration’s officials against sustaining the language of opposition while in office, saying that their continuing propaganda could negatively impact on the sound economic indicators transferred by Dr. Jonathan.

At the inauguration of the NEC, President Buhari cautioned the state governors to shore up their finances towards ensuring that they do not lag behind in their obligations. He also disclosed plans to channel G-7 funding for the rehabilitation of three states ravaged by Boko Haram.

President Buhari also pledged to adhere strictly to constitutional provisions on the maintenance of the Federation Account which stipulates that all funds from revenue generating agencies should be paid into the Federation Account.

Following the inaugural meeting of the NEC, Governor Oshiomhole accompanied by the Chairman of the Nigeria Governors’ Forum and Zamfara State Governor, Abdulaziz Yari; Kaduna State Governor, Mallam Nasir el-Rufai and Akwa Ibom State Governor, Mr. Udom Emmanuel briefed the press.

He disclosed that based on the reports presented by NNPC and officials of the office of the Accountant-General of the Federation to the NEC, it was discovered that a total of N3.8 trillion generated from oil revenues in the last three years was withheld by the NNPC.

Besides, he said that the Ministry of Finance unilaterally spent $2.1 billion from the Excess Crude Account without recourse to the governors between last November and May, 2015.

He said: “This is the first time we had a National Economic Council meeting in which under the instructions of the President, NNPC and the Office of the Accountant -General of the Federation were compelled to provide information in black and white on issues as it relates to the total sales of Nigerian crude from 2012 to May 2015. This has never happened before and for us this is profound.

“What we saw from those figures,which I believe Nigerians are entitled to know, is that whereas the NNPC claimed to have earned about N8.1 trillion, what NNPC paid into the Federation Account between 2012 and May, 2015 was N4.3 trillion and NNPC withheld and spent N3.8 trillion. We are talking about transparency, we are talking about change.

“What it means is that NNPC withheld and spent N3.8 trillion. The major revelation here is that the entire federation, that is the Federal Government, the states and all the 774 local governments, the amount the NNPC paid into the federation account for distribution to these three tiers of government came to N4.3 trillion and NNPC alone took and spent N3.8 trillion.

“Which means the cost of running NNPC is much more than the cost of running the Federal Government. That tells you how much is missing, what is mismanaged, what is stolen. These are huge figures.

“So if you were doing the right thning, you won’t have a situation where the NNPC alone will spend N3.8 trillion and remit to the federal, states and local governments N4.3 trillion which means NNPC is taking about 47 per cent and that explains all the leakages you are talking about.”

ECA withdrawals
On the withdrawals from the ECA, he said: “We looked at the figures for the Excess Crude Account, ECA, the last time the Minister of Finance and Co-ordinating Minister of the Economy, reported to the Council and it is in the minutes. She reported by November 2014, that we had $4.1 billion but today the Accountant-General’s Office reported that we have $2.0 billion, which means the Honourable Minister spent $2.1billion without authority of the NEC.

“That money was not distributed to states, it was not paid to the three tiers of government. This is why the NEC has set up a panel to look at what accrued, what it was spent for, when and by whom, so that Nigerians will have the full picture of all the transactions as regards the much talked about Excess Crude Account.”

Giving the mission of the four-man team to probe the NNPC, he said:  “The four-man committee will check the books of NNPC most specially the issue of excess crude and what is not remitted into the Federation Account.

Governor Nasir El-Rufai of Kaduna State also speaking at the briefing said:  “What we have seen in the last few months or years is that the  Excess Crude Account was operated unilaterally by the Federal Government, drawings were made unilaterally without consulting those that actually own the money because the Excess Crude Account is 52 per cent owned by the federal government and 48 per cent by the states and LGAs.

“So the decision of the NEC is to set up this committee of four to look at the operations of the Excess Crude Account and make recommendations to council on its future.”

Earlier while inaugurating the NEC, President Buhari said:  “The Federal Government will abide by the provisions of Sections 80 and 162 of the Constitution and ensure more accountability, transparency and integrity in the Distribution of the Federation Account. All revenue generating agencies such as Nigeria National Petroleum Corporation (NNPC), Nigeria Customs Services (NCS), Federal Inland Revenue Services (FIRS), Nigeria Ports Authority (NPA), Central Bank of Nigeria (CBN), Nigeria Maritime Administration and Safety Agency (NIMASA) and Liquefied Natural Gas (LNG) amongst others shall comply with stipulated Financial Regulations and Administrative Instructions in their remittances into the Consolidated Revenue Fund.”

The President’s assertion could mean the imminent abrogation of the Excess Crude Account, whose operation is currently the subject of litigation.

The President also unfolded plans to attract funding from the G7 countries for the rehabilitation of the three states of Borno, Yobe and Adamawa most affected by the Boko Haram insurgency.

“I have directed the frontline states of Borno, Yobe and Adamawa to articulate realistic assessments, costs, locations on Local Government by-Local-Government of affected facilities for submission to the President of the G7 for further verification. In addition, the requirements of the military have been prepared by the service chiefs for the consideration of the G7 Nations“, he said.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

General News

Lagos Unveils Plan for 24-hour Electricity Supply in the State

Published

on

Kindly share this post

Lagos State Government has unveiled an ambitious roadmap to end the “culture of blackouts” and establish a 24-hour electricity market driven by private sector investment, smart metering and independent power generation across the state.

Lagos Unveils Plan for 24-hour Electricity Supply in the State

Biodun Ogunleye, commissioner for Energy and Mineral Resources, middle at the press briefing

 

Biodun Ogunleye, commissioner for Energy and Mineral Resources, disclosed this during the 2026 Ministerial Press Briefing held in Alausa, Ikeja, on Monday, where he presented the achievements and strategic direction of the ministry under the Babajide Sanwo-Olu administration.

Ogunleye said the state had commenced aggressive reforms following the implementation of the Lagos State Electricity Law 2024, describing the initiative as a major step towards making Lagos the leading subnational electricity market in Africa.

According to him, the administration’s long-term objective is to deliver between 95 and 100 per cent grid availability, achieve full metering penetration and reduce energy losses to single digits by 2030.

“The administration’s plan for a farewell to the culture of blackouts rests on strong regulatory institutions, investor-friendly policies, independent power generation and full metering,” Ogunleye said.

He disclosed that the Lagos State Electricity Regulatory Commission (LASERC), had already begun licensing operators, enforcing regulatory standards and strengthening consumer protection mechanisms within the emerging electricity market.

Ogunleye revealed that 14 licences and permits had already been issued to compliant operators, while the state planned to commence a 100 per cent metering initiative from July 2026.

The commissioner said Lagos was also developing an Artificial Intelligence-powered monitoring system known as the “Electric Eye of Lagos” to provide real-time visibility across electricity trading and power delivery activities statewide.

According to him, the state was finalising market rules, grid interface guidelines and consumer supply codes to support a competitive and investor-friendly electricity ecosystem.

Ogunleye disclosed that Lagos currently has 12 Independent Power Producers under regulation, with seven already fully operational commercially.

He added that the state government was facilitating strategic energy infrastructure projects to improve reliability and industrial growth.

Among the major projects highlighted was the 37.7-kilometre Badagry electricity infrastructure corridor, which includes three high-voltage distribution towers crossing the Gbaji Lagoon and the rehabilitation of 33kV lines linking Gbaji, Seme, Owode and Apa.

The commissioner also announced plans for a major Lekki-Epe Integrated Energy Corridor featuring a 132kV bulk transmission line stretching from Ajah to Alaro City alongside a parallel gas pipeline network.

Ogunleye stated that the government had significantly expanded public lighting infrastructure through the deployment of 42,000 smart solar streetlights across major roads and highways in Lagos.

He said 22,000 conventional streetlights had already been replaced with solar-powered systems on corridors including Gbagada-Oshodi Expressway, Lekki-Epe Expressway, Lagos Island Expressway and Ikorodu Road.

The commissioner further disclosed that nearly 40,000 solar-powered streetlights were now operational across the state.

On power interventions in public institutions, Ogunleye said Gbagada General Hospital now enjoys between 21 and 22 hours of uninterrupted electricity daily following the installation of 2MVA and 1MVA transformers.

He added that renewable energy upgrades had also been completed in 52 secondary schools and 11 primary healthcare centres through lithium-ion battery replacement projects.

 


Kindly share this post
Continue Reading

General News

Group Backs Constitutional Challenge against X Restriction in Tanzania

Published

on

Kindly share this post

Paradigm Initiative (PIN) has thrown its support behind an ongoing constitutional case before the High Court of Tanzania challenging restrictions on access to X, formerly known as Twitter, in the East African country.

Group backs constitutional challenge against X restriction in Tanzania

A determination on the matter is expected on May 22, 2026.

The case was filed in 2025 by Tanzanian lawyers, Tito Elia Magoti and Kumbusho Dawson Kagine, as a public interest constitutional challenge against the Minister for Communications and Information Technology, the Tanzania Communications Regulatory Authority (TCRA), and the Attorney General.

The applicants are seeking judicial intervention on the constitutionality of actions restricting access to digital platforms under the Constitution of the United Republic of Tanzania and the Basic Rights and Duties Enforcement Act.

The dispute stems from restrictions imposed on May 20, 2025, which have rendered X inaccessible to users in Tanzania except through the use of Virtual Private Networks (VPNs).

The applicants argued that the restriction violates constitutional rights guaranteed under Articles 18, 20 and 29, including freedom of expression, access to information and freedom of assembly.

They further contended that the measures were blanket in nature, disproportionate in impact and introduced without public consultation or clear legal justification.

According to court filings, the restriction has disrupted access to public health information, affected digital and media-related livelihoods, constrained journalistic activities and undermined civic participation.

The applicants also noted that forcing citizens to rely on VPNs imposes additional financial and potential legal burdens while fragmenting communication within the country.

Supporting the suit, PIN said restrictions of such nature undermine constitutional guarantees and risk establishing disproportionate state control over digital spaces.

Executive Director of PIN, Gbenga Sesan, said the case raises critical questions about the limits of state power in regulating digital platforms.

“Where restrictions are imposed, they must meet constitutional thresholds of legality, necessity and proportionality.

“Blanket disruptions of access to widely used platforms threaten not only freedom of expression but also the broader ecosystem of civic participation and access to information,” Sesan said.

In response, the respondents denied claims that the restriction on X in Tanzania constitutes a global concern.

They maintained that the action was lawful and necessary to ensure public safety, public health and public morals.

The respondents further argued that the owner of X had been given prior notice to comply with Tanzanian laws and procedures before the restriction was imposed.

They said access to the platform was restricted due to the owner’s alleged failure to comply with local regulatory requirements.

The case remains pending before the High Court of Tanzania, with observers saying its outcome could define constitutional boundaries for digital platform restrictions and shape digital rights jurisprudence across the region.


Kindly share this post
Continue Reading

General News

Xenophobic Attacks: Anonymous Nigeria Threatens to Leak South African Stolen Data

Published

on

Kindly share this post

Anonymous Nigeria, hacktivism, known for launching coordinated cyberattacks and protests in support of socio-political movements, has threatened to leak stolen South African government data unless its demands were met.

Xenophobic Attacks: Anonymous Nigeria Threatens to Leak South African Stolen Data

The group, called for the department to stop xenophobic attacks on Nigerians in South Africa, or it will expose the data.

“They call themselves correctional services, but they can’t correct the citizens. What a shame,” the group said in its Telegram channel, MyBroadband reported.

“They killed a lot of Nigerians while the so-called correctional services watched and the ministry of justice.”

It is immediately know if Anonymous Nigeria is affiliated to Nullsec Nigeria.

But in a post on a hacker forum, Nullsec Nigeria included a link showcasing an example of data stolen from the department.

It included two bid invitation notices, bid results, a copy of the bids received, and a notice of a bid awarded in various formats.

“We’ll expose all your evil deeds for the world to see, unless this attack stops. But if not, we’ll leak everything they got,” Nullsec Nigeria said.

“Unless the government of South Africa ends these xenophobic attacks on Nigeria, we’ll expose everything about you, your evil deeds will be exposed, and the world shall know.”

MyBroadband asked the Department of Correctional Services about the claimed breach and Nullsec Nigeria’s demands, but it did not immediately respond to our questions.

Nullsec Nigeria also claimed responsibility for breaching several other entities in South Africa, while responding to an X post about its OpSouthAfrica campaign in its Telegram channel.

“I wanna express something here. I saw a report on the #OpSouthAfrica hack by Nullsec Nigeria, but it was stolen by another person,” it said. “Tag the real breachers next time.”

In a separate thread on the hacker forum, Nullsec Nigeria also claimed responsibility for breaching the Ephraim Mogale Local Municipality’s systems.

It claimed to have hacked the local government’s website and threatened to expose “everything you got for others to see how heartless you are. You killed mothers, brothers, students.”

Nullsec Nigeria said the breach and the threats were in response to the xenophobic attacks on and killing of Nigerians and the South African government’s supposed silence on the issue.

“These attacks are still going on in the dark, and we’ll expose them all. If the South African government doesn’t act first, the whole of South Africa will suffer,” it said.

“This is just a wave. These documents are about 11GB, but we decided to pull just this one.”

Its post included two images: one for a public hearing and another, a handwritten tender document for the appointment of an insurance service provider.

It also included a link to several other documents, including an old annual report, council resolutions, financial statements, and various other notices.

The Nigerian Government recently announced plans to bring citizens back to the country from South Africa after violent protests over foreign nationals in the country erupted earlier in May.

President Cyril Ramaphosa condemned the protests and criminal acts directed at foreign nationals in his From the Desk of The President weekly newsletter on 11 May 2026.

He emphasised the recent demonstrations and attacks did not represent the views of the South African people, nor the government’s policy.

“These are the acts of opportunists who are exploiting the legitimate grievances, particularly those of the poor, under the false guise of ‘community activism’,” The President said.

“Some of these people are assuming functions that only state officials are permitted to perform, including stopping people to check identification and conducting searches of private property.”

He added that such lawlessness would not be tolerated, regardless of who the perpetrators or victims were.


Kindly share this post
Continue Reading

Trending