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Beware of Recruitment Scam, NNPC Warns Job Seekers

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  • Beware of Recruitment Scam, NNPC Warns Job Seekers

The Nigerian National Petroleum Corporation has again announced that it never inaugurated a recruitment campaign of any kind, as it warned job seekers to avoid being scammed.

This came just as the Group Managing Director of the corporation, Dr. Maikanti Baru, said that the corporation would grant auditors from the Office of the Auditor-General for the Federation unrestricted access to its financial records.

Baru said this when the Auditor-General of the Federation, Mr. Anthony Ayine, visited him in his Abuja office.

The NNPC said the latest clarification was as a result of a fresh recruitment advert purportedly emanating from the corporation being circulated by emails and on various social media platforms.

The NNPC’s spokesperson, Mr. Ndu Ughamadu, said the advert was on a fake letterhead that came with the NNPC logo and was purportedly signed by the corporation’s GMD as well as its Chief Operating Officer, Refineries, Mr. Anibor Kragha.

He said the fake advert directed unsuspecting applicants to send their applications to a fraudulent email address.

Ughamadu said another form of the scam involved text messages, emails and letters inviting job seekers for job interviews at the NNPC towers and other locations across the country with a view to extorting them.

He called on members of the public, especially applicants, to ignore such adverts and invitations for job interviews, adding that the corporation was not recruiting and warned anyone who entertained such invitations would be doing so at their own risk.

Ughamadu said anyone contacted for the purpose of the fake recruitment should not hesitate to report to relevant law enforcement agencies.

A statement from the AGF on Wednesday also said that the assurance from the NNPC GMD was part of measures aimed at ensuring transparency and accountability in the management of government resources.

Baru expressed the willingness of the corporation to collaborate with the AGF office for effective service delivery to Nigerians.

He said the corporation was making efforts to ensure that its accounts were up to date, adding that work had been concluded on the 2014 account.

He added that the financial statement for the 2015 financial year would be ready by the end of this month.

Baru said the NNPC was prepared to work harmoniously with the AGF and implement whatever corrective actions recommended to the corporation that would add value to the firm’s efficient and transparent operation.

Ayine, according to the statement, commended the drive of the GMD towards repositioning the NNPC for transparency and accountability since his assumption of office in July, 2016.

He noted that the account of the NNPC had been audited to December 2014, adding that the audit of 2016 would be concluded by December 2017.

The auditor-general commended the GMD for his assurance that auditors would be given unrestricted access to the financial records for their periodic audit checks.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Crude Oil

Oil Prices Continue to Slide: Drops Over 1% Amid Surging U.S. Stockpiles

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Crude Oil

Amidst growing concerns over surging U.S. stockpiles and indications of static output policies from major oil-producing nations, oil prices declined for a second consecutive day by 1% on Wednesday.

Brent crude oil, against which the Nigerian oil price is measured, shed 97 cents or 1.12% to $85.28 per barrel.

Similarly, U.S. West Texas Intermediate (WTI) crude slumped by 93 cents or a 1.14% fall to close at $80.69.

The recent downtrend in oil prices comes after they reached their highest level since October last week.

However, ongoing concerns regarding burgeoning U.S. crude inventories and uncertainties surrounding potential inaction by the OPEC+ group in their forthcoming technical meeting have exacerbated the downward momentum.

Market analysts attribute the decline to expectations of minimal adjustments to oil output policies by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, until a full ministerial meeting scheduled for June.

In addition to concerns about excess supply, the market’s attention is also focused on the impending release of official government data on U.S. crude inventories, scheduled for Wednesday at 10:30 a.m. EDT (1430 GMT).

Analysts are keenly observing OPEC members for any signals of deviation from their production quotas, suggesting further volatility may lie ahead in the oil market.

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Energy

Nigeria Targets $5bn Investments in Oil and Gas Sector, Says Government

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Crude Oil - Investors King

Nigeria is setting its sights on attracting $5 billion worth of investments in its oil and gas sector, according to statements made by government officials during an oil and gas sector retreat in Abuja.

During the retreat organized by the Federal Ministry of Petroleum Resources, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, explained the importance of ramping up crude oil production and creating an environment conducive to attracting investments.

He highlighted the need to work closely with agencies like the Nigerian National Petroleum Company Limited (NNPCL) to achieve these goals.

Lokpobiri acknowledged the challenges posed by issues such as insecurity and pipeline vandalism but expressed confidence in the government’s ability to tackle them effectively.

He stressed the necessity of a globally competitive regulatory framework to encourage investment in the sector.

The minister’s remarks were echoed by Mele Kyari, the Group Chief Executive Officer of NNPCL, who spoke at the 2024 Strategic Women in Energy, Oil, and Gas Leadership Summit.

Kyari stressed the critical role of energy in driving economic growth and development and explained that Nigeria still faces challenges in providing stable electricity to its citizens.

Kyari outlined NNPCL’s vision for the future, which includes increasing crude oil production, expanding refining capacity, and growing the company’s retail network.

He highlighted the importance of leveraging Nigeria’s vast gas resources and optimizing dividend payouts to shareholders.

Overall, the government’s commitment to attracting $5 billion in investments reflects its determination to revitalize the oil and gas sector and drive economic growth in Nigeria.

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Commodities

Palm Oil Rebounds on Upbeat Malaysian Exports Amid Indonesian Supply Concerns

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Palm Oil - Investors King

Palm oil prices rebounded from a two-day decline on reports that Malaysian exports will be robust this month despite concerns over potential supply disruptions from Indonesia, the world’s largest palm oil exporter.

The market saw a significant surge as Malaysian export figures for the current month painted a promising picture.

Senior trader David Ng from IcebergX Sdn. in Kuala Lumpur attributed the morning’s gains to Malaysia’s strong export performance, with shipments climbing by a notable 14% during March 1-25 compared to the previous month.

Increased demand from key regions like Africa, India, and the Middle East contributed to this impressive growth, as reported by Intertek Testing Services.

However, amidst this positivity, investors are closely monitoring developments in Indonesia. The Indonesian government’s contemplation of revising its domestic market obligation policy, potentially linking it to production rather than exports, has stirred market concerns.

Edy Priyono, a deputy at the presidential staff office in Jakarta, indicated that this proposed shift aims to mitigate vulnerability to fluctuations in export demand.

Yet, it could potentially constrain supply availability from Indonesia in the future to stabilize domestic prices.

This uncertainty surrounding Indonesian policies has added a layer of complexity to palm oil market dynamics, prompting investors to react cautiously despite Malaysia’s promising export performance.

The prospect of Indonesian supply disruptions underscores the delicacy of global palm oil supply chains and their susceptibility to geopolitical and regulatory factors.

As the market navigates these developments, stakeholders remain attentive to both export data from Malaysia and policy shifts in Indonesia, recognizing their significant impact on palm oil prices and market stability.

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