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Reps Summon Alison-Madueke over 8Bn Oil Swap Deal

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House of Representatives joint Committee on Petroleum Resources (Downstream and Upstream) and Judiciary yesterday asked Diezani Alison-Madueke, minister of Petroleum Resources to appear before them over the alleged diversion of $8 billion meant for the federal government’s coffers.

The committees claimed that the $8 billion represents the under- declared amount in the crude oil swap deal.

The House joint committees which have written the minister over the alleged diversion of multi-billion dollars on importation of petroleum products, also summoned the Executive Secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA).

It would be recalled that the House had mandated the joint committees to investigate allegation by a Swiss- based non governmental and advocacy organisation, Berne Declaration, that two Swiss oil trading companies – Vitol and Trafigura – in connivance with the Nigerian National Petroleum Corporation (NNPC) have ripped the country off about $6.8 billion in two years.
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Also fingered in the scam include Ontario, Aiteco, Vitol, PPPRA, Mercuria Energy and Eterna Oil and Gas.

The Nigeria Extractive Industries Transparency Initiative (NEITI) also accused some oil traders of under-delivering 500,075,239.3 litres of products worth $8 billion in year 2011.

NEITI, in its report submitted to the House, gave their names as: Trafigura (173,786,600 litres); Vitol (654,440.7 litres); Taleveras (152,308,878 litres); Aiteo Nigeria Limited (193,046,590 litres) and Ontario Oil and Gas (180,278,732 litres).

Speaking at the resumed hearing on “the alleged connivance by NNPC with Swiss oil dealers to rob Nigeria of billions of dollars”, Muraina Ajibola, chairman, House Committee on Petroleum (Upstream), said there was need to hear from the Minister of Petroleum Resources.

“I have not heard anything from her (Minister). We will give her a date to appear before us and that will be the last,” he warned.

However, Mrs Ada Ugo-Ngadi, MD/CEO, Ontario Oil and Gas Limited, who made submissions before the committee, derided the allegations of the Swiss-based organisation.

She said:”The publication is a figment of the writers’ imagination, seeking to distract Nigerians and cause distrust of indigenous oil companies. It is baseless, faulty and deserves no serious attention.”

Mrs Ugo-Ngadi said the selection of buyers of Nigerian crude was done on transparent and competitive basis, adding that her company’s business dealings with the NNPC was above board.

“Ontario’s SWAP arrangement with NNPC/PPMC is in line with international standard, transparent and complies with all audit requirements. It is transparent and conducted in line with global best practice,” she said.

She, however admitted that she had been arrested by the Economic and Financial Crimes Commission (EFCC).

The committee expressed dissatisfaction over Mrs Ugo-Ngadi’s presentation, particularly as she could not justify the quantity of crude oil lifted against the refined products supplied during the period under review.

She was, therefore, requested to submit documents on the volume of crude oil lifted, contract agreements signed with other partners, date and cost of products lifted and the vessels involved and list of the agencies, which authorised the transaction and the terminals the products berthed.

AITEO Energy Resources Limited, which also appeared before the committee, said it lifted 10,231,122 barrels of crude oil valued at $1.170,732,027.62 and supplied refined products worth $1,111,972,698.18.18 in 2011.


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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.

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E-Financial

Mastercard, BMONI Launch Multi-Currency Payment Cards in Nigeria

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Mastercard, global technology company in the payments industry and BMONI, smart digital wallet designed as a modern alternative to traditional banks have partnered to launch a new suite of virtual and physical payment cards in Nigeria, marking a significant step in the country’s expanding digital payments ecosystem.

Mastercard, BMONI Launch Multi-Currency Payment Cards in Nigeria

The new cards, available in both Naira and US dollars, are designed to support seamless domestic and international transactions.

The partnership combines Mastercard’s global payments infrastructure with BMONI’s AI-powered financial platform to deliver one of Nigeria’s first locally issued international card programmes focused on multi-currency functionality and instant digital access.

The launch comes as Nigeria’s e-commerce market continues to grow rapidly, with increasing demand for globally accepted digital payment solutions.

Through the BMONI mobile app, users can instantly create multiple virtual cards tailored for different spending needs, including travel, subscriptions, online shopping, and daily expenses.

The platform aims to give users greater visibility and control over spending through real-time tracking and customizable card management features.

Folasade Femi-Lawal, country manager for West Africa at Mastercard, said the collaboration aligns with the country’s accelerating digital transformation.

“This collaboration brings together a trusted global network with an innovative platform to deliver real value—instant card access, multi-currency flexibility, and seamless cross-border transaction capabilities,” she said.

Ashwin Ravichandran, head of Product at BMONI, said the partnership is focused on improving financial accessibility and user control.

“Our goal is to remove friction between people and their money. Partnering with Mastercard allows us to provide global access and financial control at a level previously unavailable to Nigerian consumers,” Ravichandran said.

The launch reflects a broader FinTech trend across Africa, where digital-first financial services providers are increasingly partnering with global payment networks to expand access to cross-border commerce, embedded finance, and multi-currency payment solutions.

The service is now live, with users able to access the offering directly through the BMONI app.

 

 


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General News

NCDC Enhances Monitoring, Releases Advisory amid Rising Global Hantavirus Cases

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Nigeria Centre for Disease Control (NCDC) has intensified nationwide disease surveillance following reports of a Hantavirus infection cluster connected to international cruise ship travel involving several countries.

NCDC Enhances Monitoring, Releases Advisory amid Rising Global Hantavirus Cases

Dr Jide Idris, director-general, NCDC, in a public health advisory, confirmed that Nigeria has not recorded any confirmed Hantavirus case and stated that the overall public health risk remains low.

According to the agency, the reported outbreak currently involves a limited number of confirmed and suspected infections linked to cruise ship exposure, while international investigations and contact tracing efforts continue.

The NCDC explained that the advisory was released to strengthen national preparedness and encourage vigilance against emerging infectious diseases amid growing global concern surrounding the outbreak.

Health authorities noted that Hantaviruses are mainly transmitted through exposure to infected rodents, their urine, saliva, droppings, or contaminated dust particles. Symptoms may include fever, fatigue, muscle pain, gastrointestinal illness, and in severe cases, respiratory complications.

The current outbreak has reportedly been associated with the Andes virus strain, which has shown limited human-to-human transmission through close contact in previous cases.

The NCDC stated that enhanced monitoring systems have been activated nationwide to support early detection and rapid response efforts.

The agency also urged Nigerians to maintain proper hygiene, prevent rodent infestations, safely store food items, and avoid exposure to rodents and contaminated environments.

Officials further advised the public to rely only on verified information from recognized health authorities and avoid spreading misinformation regarding the outbreak.

 

 


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Broadcasting

Metro Digital, Nigerian Firm Accuses Multichoice Of Refusal to Obey Court Judgements

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Metro Digital Limited, a  licenced Indigenous broadcasting organisation,  has accused Multichoice, pay television company, of refusing to obey judgements emanating from Courts in Nigeria.

Metro Digital, Nigerian Firm Accuses Multichoice Of Refusal to Obey Court Judgements

It said the latest of such judgements is the one that was delivered by Justice Chinelo Odili of Rivers State High Court on May 4, 2026 in Suit No. PHC/3943/FHR/2025.

Dr. Paul Osuji, operations manager of Metro Digital,  at a press conference in Port Harcourt, Rivers State,

said the suit was filed by the organisation and two others against Multichoice and the Economic and Financial Crimes Commission (EFCC).

Osuji stated that Justice Odili has in the judgement described the arrest of a staff member of the company and the carting away of it’s properties and disruption of it’s broadcasting business by the EFCC over a civil dispute of copyrighy as unlawful and violations of the applicants’ rights.

The manager recalled that in October 2025, Multichoice instigated the EFCC to read their office in Port Harcourt, arrested a staff of the company and staff of another company, while the suit was still pending.

“On October 16, 2025, the premises of Metro Digital Limited, a licenced indigenous broadcasting organisation was raided by the Nigerian anti-graft agency, EFCC, instigated by Multichoice Nigeria, purportedly acting on a preservation order made by the Federal High Court sitting in Port Harcourt over the sub licensing of broadcasting content right.

“The preservation order came from a civil dispute already adjudicated by the Court of Appeal No. CA/CS/188/2021 – Multichoice Vs Metro Digital Limited and 20 others, which is a subject of a pending appeal -No. SC/CV/1248/2022 -Multichoice and 20 others before the Supreme Court.

“Instructively, while suit No. PHC/ 3943/ FHR/2025 was still pending, Metro Digital Limited filed an application to set aside the said preservation orders of the Federal High Court sitting in Port Harcourt and presided over by Hon. Justice A.T Mohammed.

“In his ruling delivered on December 10, 2025, set aside the preservation orders and it’s legal execution on Metro Digital Limited. The court also ordered EFCC to return unconditionally all the properties and records of Metro Digital Limited, illegally and unlawfully carted away during the raid but the agency has till today not obeyed those orders of the Court,” he said.

Metro Digital Limited is known for operating SLTV, a direct-to-home satellite television service launched to provide affordable, locally-owned alternatives to international pay TV


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