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NNPC; Atiku Slams OVH Deal, Alleging Undue Influence By Tinubu’s Family

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Despite selling its downstream operations as far back as 2015, former Vice President, Atiku Abubakar on Wednesday accused President Bola Tinubu of mortgaging the oil industry to his family and associates, citing the alleged control of OVH, an oil industry operator, by Oando Plc, owned by Wale Tinubu.

Atiku said he believed that even after Tinubu leaves office, it would be nearly impossible to break the shackles, comparing Tinubu’s alleged integration of his business interests into Lagos’ public enterprises to his current attempts at the federal level.

 

In a statement by his media aide, Paul Ibe, Atiku argued that , “Just as Alpha Beta, Primero, and others act as Tinubu’s proxies in Lagos, managing critical sectors and generating revenue for him and his family, he has begun to replicate this at the federal level.”

 

He expressed astonishment at the operations of the NNPC and how the government-owned oil company has allegedly put its retail arm under the control of OVH, a company in which he said Oando, led by Wale Tinubu, owns 49 per cent.

Atiku regretted that his intention to privatise the NNPC and increase its transparency has been overshadowed by what he described as the criminal hijack of the NNPC by corporate cabals around the current president.

 

“In October 2022, just five months before the elections, the NNPC Retail controversially announced it had acquired OVH and all its filling stations. NNPC already had about 550 filling stations across the country but claimed it was enhancing its capacity by acquiring OVH, which had only 94 stations and 100 others leased.

 

“The NNPC did not disclose the purchase price of OVH or the terms of the acquisition. A Freedom of Information (FOI) request by Premium Times was also rejected by the NNPC, which claimed to be a private company despite still being government-owned.

 

“Following this dubious deal, Mele Kyari, was controversially retained as NNPC Group Chief Executive Officer despite his incompetence. Tinubu then appointed his former boss at Mobil, turned ally, Pius Akinyelure, as NNPC Chairman, while he himself took on the role of Minister of Petroleum.

“In a move that defies economic logic, OVH, previously owned by NNPC Retail, has now acquired NNPC Retail. This absurd situation means that Wale Tinubu’s Oando now owns 49 per cent of NNPC Retail.

 

“Moreover, Nigeria paid Wale Tinubu a significant sum to facilitate the Tinubu family’s acquisition of the national oil company. This represents a clear case of illogical business transactions and abuse of office by President Tinubu, who has prevented NNPC from becoming a public liability company as stipulated by the Petroleum Industry Act (PIA),” he alleged.

 

Atiku acknowledged that the NNPC and its leadership were under legislative investigation but expressed scepticism about the process’ credibility due to the vested interests of those conducting the investigation.

“Senator Opeyemi Bamidele, who is heading the National Assembly panel, is a known supporter of Tinubu. He served as a commissioner under Tinubu in Lagos State and publicly calls him his godfather.

 

“Given that Tinubu is the petroleum minister, he should be held responsible for the sector’s issues. I doubt Bamidele will conduct a thorough investigation that might implicate his patron,” Atiku said.

 

On the Lagos-Calabar coastal road, Atike said he had earlier claimed that the Lagos-Calabar Coastal Highway project was fraudulent, but the government denied it.

 

He said that mow that the matter is in court, it was concerning that Chagoury and Tinubu have a business relationship, and their children are business partners, as revealed by OCCRP.

“This indicates a conflict of interest. It is no surprise that the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Coastal Highway, which together will cost over $24 billion, were approved without competitive bidding. It seems that whatever Tinubu wants, he gets,” Atiku said.

 

But when THISDAY contacted the Group Chief Executive Officer of Oando, Mr Wale Tinubu on the allegation by the former vice president, he vehemently  refuted the allegation, insisting that the company has no stake in OVH.

 

He stressed that as far back as 2015, Oando sold its stake in the downstream to OVH, wondering how it is being dragged into the matter in 2024.

 

“We are not the ones who sold the company to NNPC. We sold that company, as far back as 2015. He should stop bullying us. They have been telling lies in public.

“He should not drag us into their politics. Oando bought the company in 2000 or 2002 from him when he was chairman of privatisation and we sold the company, during Muhammadu Buhari’s administration.

 

“We don’t own anything there. It’s deliberate falsehood. As a publicly quoted company, we issued a press statement when we sold that company in 2015,” he said on Wednesday night. “We sold our  downstream operations in 2015,” Wale Tinubu maintained.

 

THISDAY tracked an online link where on June 30, 2015  a press release said that Oando Plc had reached an agreement to sell an equity stake in its downstream businesses to a joint venture consisting of Helios Investment partners and Vitol.

 

According to the statement, the integrated oil and gas company announced that a definitive agreement had been executed with the firms. “Importantly, the divestment enables Oando Plc to focus on its upstream and midstream businesses,” the statement added at the time.

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Corruption: EFCC Boss Exposes Public Officers ” They Assume Office With Empty Account But Own Millions Of Dollars In 3 Years”

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The Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, says Nigerian politicians steal public funds every minute.

 

He spoke in Abuja at the 80th birthday celebration of former Attorney-General, Kanu Agabi.

Olukoyede said the anti-graft agency receives over 20,000 corruption petitions every year, adding that most of the cases are shocking.

“I receive over 20,000 petitions in a year in respect to public corruption, all terrible. What is going on? Like every minute, public officers take money, and if you go through some of our case files you will weep.

“The way people take national resources and Nigerians are victims of these fraudulent activities. And we must come together for once in our lifetime and say no to the activities of some of our leaders,” Olukoyede said.

The EFCC boss said some public officers resume office with less than N100,000 in their account, but after three years, EFCC will trace millions of dollars to them.

He said some of them build hundreds of houses while still in office, noting that corruption is killing Nigeria.

Olukoyede said public officers must explain what they did in office, stressing that accountability and transparency must guide public service.

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Ogun: Fleeing Father Arrested For Killing Neighbour Who Hugged His Son

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The Ogun State Police Command says, it has arrested 43-year-old Edebiri Temitope, who allegedly beat his neighbour to death with a bamboo stick for hugging his son in Bluestone Treasure Estate, Mowe-Ofada area of Ogun State.

 

The deceased, 38 years old Micheal Oje, a Guidance and Counselling graduate of Benue State University, was accused of hugging and playing rough with the 3-year-old child .

According to Peter Adum, a younger cousin to the deceased, Micheal had just returned from work and the child who lived with them on the same street, ran towards him and hugged him.

He stated that Michael hugged the boy and threw him playfully in the air and caught him, before going into his room to sleep.

Adum said, “While he was sleeping, Adebiri, the father of the boy, came outside and knocked on his door. When Mike came out, the man accused him of playing roughly with his child. Mike explained that he had only hugged the boy and lifted him into the air.

“That was how the man then started slapping Mike. He picked up a bamboo stick from the ground and hit him about three times. Mike fell and died on the spot.”

The suspect was reported to have gone into hiding with his family.

However, the Police Public Relations Officer, DSP Oluseyi Babaseyi on Friday, said the suspect had been arrested and transferred to the State CID, Eleweran, Abeokuta, for further investigation.

“Edebiri Temitope, ‘M’, aged 43 years, who was earlier reported to be at large, has been arrested in connection with the death of Oje Michael Eje, ‘M’.

 

“The suspect has been transferred to the State CID, Eleweran, Abeokuta, for further investigation,” Babaseyi stated.

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Jimoh Ibrahim Defends Tinubu’s Absence At UNGA

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Jimoh Ibrahim, Nigeria’s permanent representative to the United Nations, has defended President Bola Tinubu’s absence at the 81st session of the United Nations General Assembly (UNGA).

 

Ibrahim spoke on a Television program, on Thursday, noting that Tinubu cannot attend the event just to deliver a 15-minute speech.

Mohammed Idris, minister of information and national orientation, had said Tinubu would not attend the 81st UNGA because he is currently on annual leave.

Idris said Tinubu had mandated Vice-President Kashim Shettima to lead Nigeria’s delegation to the high-level session in New York, United States.

The minister’s comment followed criticism from former Vice-President Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), who faulted the president’s absence at the gathering.

Atiku had questioned Tinubu’s decision to stay away from the general debate for the third consecutive year, saying the president’s “persistent avoidance” of the United States raises questions.

The former vice-president also questioned why Tinubu did not show up after Ibrahim reportedly said arrangements had been made for the president to sit close to US President Donald Trump at the general assembly.

Atiku further linked Tinubu’s absence to his past legal history in the US and asked: “Is Tinubu afraid that he could become Donald Trump’s next Nicolás Maduro?”

However, Ibrahim said Tinubu’s absence should not be taken as a big deal because many presidents of other countries did not attend the gathering in person.

“What do you think President Tinubu is coming to do?” he queried.

“The presidents are allowed in the UN under UNGA for 15 minutes. Is that the reason why he should board the flight and be here for 15 minutes?”

He said Shettima had, in Tinubu’s absence, attended high-level meetings and met with Nigerians in the diaspora, describing the engagement as ideal.

“This is the kind of engagement we want, not that the president will just be inside the plane and be coming to UNGA for a 15-minute speech. What is the meaning of that? We don’t want that,” Ibrahim said.

Ibrahim, who was appointed chairman of the budget and administration committee for UNGA’s Fifth Committee in June, said 60 percent of those on the speaking list at the gathering were foreign affairs ministers and vice-presidents.

“As permanent representative of Nigeria to the United Nations, if I’m to do a memo to the president at the last minute of boarding the plane to go to UNGA, do you think I will recommend the president to be on his way when 60 percent of the speaking list of 193 countries are ministers and vice-presidents representing their countries?” he queried.

“There are exigencies. If the speaking list is 90 presidents, maybe of course, the president can come. I don’t think the president should come and be where his equivalent is a minister of foreign affairs of another country.”

The envoy also said the country occupied a prominent position at UNGA, arguing that Tinubu’s physical presence was not necessary.

“I promise that Nigeria will be on the front-row seat at UNGA. Are we not on the front-row seat? Nigeria is sitting at number eight seat in the UN under UNGA and America is at number 26th seat at the back of Nigeria’s seat,” he said.

“And you know, Donald Trump didn’t go to sit on his own seat. He came in to give a lecture at the UNGA and went back from there.
“Are you saying that Nigeria is making the impact it is supposed to make globally? Must we have President Tinubu here before we can make the impact?”

Speaking on what the composition of the speaking list implied, Ibrahim said reforms were being planned to increase the impact of the organisation on member-states.

“That is the reform we are taking on effective from October 1st. When I chair the budget and administrative committee, 90 percent of UN resources is spent at the headquarters, while 10 percent goes to member-states,” he said.

“So legitimacy is reduced because member-states are not seeing impacts of the United Nations. We are going to reverse that.”

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