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NNPC in Fresh Corruption Scandal

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NNPC
  • NNPC in Fresh Corruption Scandal

The Senator representing Kogi West, Dino Melaye, yesterday accused the Nigerian National Petroleum Corporation (NNPC) of involvement in a fresh multi-million dollar corruption.

Melaye, at plenary yesterday, claimed that NNPC is involved in a “monumental corruption” which the Senate should look into.

He noted that the NNPC allegedly registered a company by the name Brass NLG.

The firm, he said, was jointly owned by investors from Italy, Belgium, France, among others.

Melaye said contrary to statutory provisions that the account of the company be domiciled in the Central Bank of Nigeria (CBN), NNPC and its partners, instead, opened an account with a commercial bank.

He noted that the account has no Bank Verification Number (BVN).

He claimed that money running into millions of dollars have been withdrawn from the account.

Melaye said: “While some individuals and government appointees would continue to steal, we have decided to continue to expose corruption in public life. This morning (yesterday), I draw the attention of the Nigerian Senate, a suspected colossal, monumental corruption in NNPC.

“Mr. President, a company was registered with the name Brass NLG limited with the Federal Government having controlling shares and we have some Italians, Belgians, French people who are shareholders with the Federal Government in controlling shares of about 50 per cent.

“It is known fact that once you have a joint venture, the account of such joint venture should be domiciled with the Central Bank of Nigeria. But in this case, that was not what happened.

“This account has no BVN and there have been periodic withdrawals. The last withdrawal from that account was to the tune of $4 million. As I speak to you, the balance of that account as at today is $137 million.”

Senate President Bukola Saraki sought the approval of the Senate to allow Melaye to bring a proper motion.

When the motion was put to a voice vote, the senators voted in the affirmative.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Lagos State to Support Businesses Looted by Hoodlums

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endSARS violence

Lagos State to Support Businesses Vandalised and Looted by Hoodlums

Lagos State has announced plans to support businesses looted and vandalised by hoodlums last week.

The Deputy Governor of the stated, Obafemi Hamzat, made this known in a series of tweets put out on Friday.

He directed businesses vandalised in the state to fill a form attached through the link below.

“If you are a Lagos based business and your store got looted/vandalized this week, please fill this form by @LSETF https://t.co/lwPiXvFzTp. Let’s do what we can to support you,” he tweeted.

This was after Governor Babajide Sanwo-Olu said the state had activated the process of healing the destruction and massacre that happened earlier in the week when security operatives in army uniforms opened fire on armless #EndSARS protesters.

Sanwo-Olu said, “My heart bled after I went out today for a first-hand assessment of the destruction of assets of the Government and private properties. The level of destruction observed indicated that the violence was more than just a peaceful protest and agitations for police reforms. The proportion of devastation is a lot. This is not the Lagos that was handed over to me on May 29, 2019.

“Moving forward from the destruction, we have to continue the process of healing ourselves. We need to stop some of our citizens still using social media to instigate or incite the people. It will not be under my watch that we will lose the city that has the largest economy in the entire black nation. Enough is enough. I have moved around and I saw that our people want peace. On this, we are committed to bringing lasting peace back to the State.

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TVC Resumes Operations in Lagos Office Following Hoodlums Attack

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Telecommunications

TVC Commences Operations Less Than 72 Hours After Hoodlums Attacked and Destroyed the Company’s Lagos Office

Television Continental (TVC) station has resumed operations less than 72 hours after its Lagos office was attacked by hoodlums that hijacked the #EndSARS protest.

The television station was attacked on Wednesday by criminals would believe that the media platform was owned by one of the top Buhari supporters, Mr. Bola Ahmed Tinubu.

The attack followed the shooting of unarmed #EndSARS protesters, who had gathered to protest against the activities of the Special Anti-Robbery Squad (SARS) unit of the Nigerian Police Force (NPF) at the Lekki Toll Gate on Tuesday.

The peaceful protesters were shot by security operatives in Nigerian Army uniform before the commencement of curfew imposed by Governor Babajide Sanwo-Olu of Lagos State.

The killings now tagged Lekki Massacre attracted global attention as global leaders condemned the Federal Government or whoever ordered the shooting and called for an immediate investigation into the matter.

On Wednesday, criminals allegedly sponsored by interested parties to dislodge peaceful protesters took advantage of the situation to wreak havoc across Nigeria’s commercial hub, Lagos State, as several private establishments businesses were attacked and looted by these unscrupulous characters.

One of the establishments attacked was the National Newspaper also linked to Mr. Tinubu.

The hoodlums stormed TVC on Wednesday morning during a popular morning show, Your View, anchored by Mrs Morayo Afolabi-Brown, the programme did not end before the television station went off air as it was immediately set on fire.

However, Investors King gathered that TVC resumed operations on Saturday morning, although regular programs were yet to resume fully.

As at the time of writing, the station was airing promos of various programmes and from what we gathered, regular programming will return very soon especially from its Abuja office.

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Ambassadorial Deal: Puma Names Wizkid as Brand Ambassador

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Wizkid is Puma Latest Brand Ambassador

Puma, global sportswear, has named Nigerian superstar, Ayodeji Ibrahim Balogun popularly known as Wizkid as one of its global ambassadors.

Wizkid, 30, is the new Puma x JD ambassador for the relaunching of the Puma Suede Classics range.

Speaking on the deal, Wizkid said “It’s an honour to be the face of the new JD x Puma Suede Classics campaign.

“Puma is a brand I’ve loved and respected growing up, and so the decision to become an Ambassador felt completely natural. The Puma Suede is a classic shoe that can be worn by anyone at any age and I think my fans will really connect with that.”Also speaking on the partnership, Puma’s Sportstyle marketing director, said “We’re thrilled to have Wizkid as the face of the new Puma x JD Suede campaign.

“A truly innovative and exciting artist in the music scene, Wizkid embodies the passion and hustle we look for in someone to represent Puma and we look forward to working with him for the AW20 season.

Wizkid is a Nigerian musician and songwriter that has worked with Beyonce, Drake, Wale and other international superstars.

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