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Reps Launch Probe Into NNPCL’s OVH Energy Acquisition – Ugochinyere
Reps Launch Probe Into NNPCL’s OVH Energy Acquisition – Ugochinyere
....KINDLY READ THE FULL STORY HERE▶
The House of Representatives has initiated an investigation into the acquisition of OVH Energy Marketing by the Nigerian National Petroleum Corporation Limited (NNPCL), according to Hon. Ikenga Ugochinyere, Chairman of the House Committee on Downstream Petroleum……CONTINUE READING
NNPCL had previously announced its acquisition of OVH Energy Marketing, the owner and operator of Oando downstream assets, in October 2022.
Following a petition from the Nigeria Transparency Council (NTC), the House of Representatives is now scrutinizing the acquisition process. The NTC raised concerns about the payment of N140 billion for the acquisition and called for a thorough investigation.
Hon. Ikenga Ugochinyere confirmed the ongoing investigation, stating, “We received a petition and are currently studying it; we will make a comment within the shortest possible time.”
In its petition to the Reps, the NTC urged lawmakers to examine the acquisition agreement, assets acquired, and other relevant aspects of the process. The group expressed dissatisfaction with the lack of a proper investigation in previous probes and alleged non-observance of due process.
The NTC also claimed that the acquisition agreement between NNPCL Retail and OVH had not been formalized, raising suspicions about the post-acquisition proceedings. The group requested an investigation into the products provided to both entities, the destination of payments and revenue, and the legal business relationship between them.
The committee has been given a 10-day ultimatum by the NTC to commence a public investigation into the OVH Energy acquisition, or the group threatens to take the matter to court.
Earlier, Mele Kyari, the Group Chief Executive Officer of NNPCL, defended the corporation against any wrongdoing in the acquisition during an investigative hearing in September 2023. Kyari emphasized that the acquisition was a strategic business decision that had proven successful within a year, with over 900 fuel stations across the country and about 30 percent market control in the downstream sector.
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THE ULTIMATE SHOCKER: Amotekun Turns On Informant And Arrests Man Who Reported His Siblings’ Kidnapping!.
The Ondo State Security Network Agency, commonly known as Amotekun Corps, arrested a man who initially reported the kidnapping of his siblings after investigations revealed he was an accomplice in a staged, fake abduction plot.....KINDLY READ THE FULL STORY HERE▶
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Staged Kidnapping Exposure: Amotekun Commander Adetunji Adeleye revealed that the informant who rushed to report his siblings missing was actually part of the scheme, as operatives eventually discovered the supposed “victim” safe at home.
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Mass Arrests: The operation led to the apprehension of 53 total suspects for various crimes, including murder, kidnapping, cultism, rape, and theft.
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Illegal Immigrants Detained: In Owo, 21 suspected illegal immigrants lacking valid ECOWAS travel documents were arrested and marked for transfer to the Nigeria Immigration Service.
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Diesel Syndicate Dismantled: Operatives also successfully cracked down on a criminal syndicate stealing millions of naira worth of petroleum products from a construction and quarry site along Ondo Road in Akure.
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THE ULTIMATE POLITICAL ALARM: APC Drops A Massive Bombshell Accusing APGA Of Plotting To Confuse President Tinubu!.
The All Progressives Congress (APC) in Anambra State has criticized the All Progressives Grand Alliance (APGA), alleging that the ruling state party is misleading President Bola Tinubu into believing they are politically aligned while shutting the APC out of national activities. The accusation was made in an Awka statement released on Monday by state secretary Obi Okpala regarding preparations for First Lady Oluremi Tinubu’s scheduled Thursday visit.....KINDLY READ THE FULL STORY HERE▶
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Exclusion from Visit Arrangements: The APC expressed disappointment that its leadership and women’s structures were neither formally invited nor included in the planning for the First Lady’s empowerment visit, learning of it solely through announcements by Anambra’s First Lady, Dr. Nonye Soludo.
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Hollow Partnership Rhetoric: The party dismissed the narrative of “Progressives Are Working Together” as a mere media stunt used on national television to hoodwink the APC and deceive voters into supporting APGA candidates.
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Accusations of Demarketing: The APC claimed that APGA fails to promote President Tinubu’s achievements locally, arguing that their media communications actually demarket the president and the ruling national party.
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Rejection of the 25 Percent Narrative: Dismissing APGA’s political capability based on their background, the Anambra APC firmly rejected claims regarding a 25 percent vote narrative, maintaining that they are the true structure positioned to deliver votes for the president in the state.
Ahead of the 2027 general elections, the Independent National Electoral Commission (INEC) has cautioned political parties and candidates against the use of abusive or inflammatory language, noting that violators face severe fines and potential imprisonment. Speaking via the commission’s media channels, Adedayo Oketola outlined the strict legal provisions governing campaign conduct.....KINDLY READ THE FULL STORY HERE▶
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Legal Prohibitions: Citing the Electoral Act, INEC emphasized that campaigns must steer clear of slanderous slogans, base language, or rhetoric designed to incite religious, ethnic, or regional hostility and violence.
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Intimidation and Fear: The commission warned that threatening physical harm, economic reprisals, or creating an atmosphere of fear to suppress voter turnout constitutes punishable intimidation.
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Statutory Penalties: Offenders face strict financial and custodial consequences, with individual candidates risking a fine of up to ₦5,000,000 or a 12-month jail term upon conviction, while non-compliant political parties face an initial fine of ₦10,000,000 and ₦2,000,000 for subsequent offenses.
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Enforcement and Collaboration: While INEC maintains administrative powers to monitor compliance and issue queries, Oketola stressed the need for a collaborative effort involving security agencies, the media, and community leaders to ensure campaigns remain focused on policy ideas rather than conflict.
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