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Reps Public Accounts Committee Recovers Additional $14m From Oil Companies

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Reps

Reps Public Accounts Committee Recovers Additional $14m From Oil Companies

Reps public accounts committee recovers additional $14m from oil companies. House Public Accounts Committee recovers additional $14 million from oil companies

The House of Representatives Public Accounts Committee (PAC) has made another major breakthrough in its ongoing investigation into financial irregularities in the oil and gas sector, recovering an additional $14.2 million (₦21.4 billion) from four companies. This brings the total amount reclaimed by the committee to $33.44 million (₦50.1 billion) so far.

Chairman of the Committee, Hon. Bamidele Salam, attributed the success to the strong leadership and commitment to accountability by Speaker of the House, Hon. Abbas Tajudeen. He emphasized that the Speaker’s unwavering support has allowed the committee to operate independently and effectively in safeguarding public resources.

According to the PAC, the latest financial recoveries are broken down as follows:

Platform Petroleum Ltd: $1.9 million (₦2.9 billion)

Midwestern Oil and Gas Ltd: $1.578 million (₦2.3 billion)

Universal Energy: $523,845 (₦785.7 million)

Aradel Energy Ltd: $10.3 million (₦15.5 billion)

Hon. Salam reaffirmed the committee’s commitment to fiscal transparency and warned that additional measures would be taken against defaulting companies.

ULTIMATUM FOR FURTHER RECOVERIES:

The PAC has issued a 20-day deadline for four more companies to remit outstanding payments totaling $23.2 million (₦34.8 billion). The affected firms and their required payments are:

Total Energies: $2 million within 7 days

Seplat Energies (SPDC): $6.036 million and ₦1.5 billion within 7 days

Aradel Energy Ltd: $12.1 million within 7 days

Network Exploration: $3.1 million within 7 days

Failure to comply within the stipulated timeframe could result in public sanctions, including the naming of defaulters in national newspapers.

In a related development, several companies have failed to respond to committee invitations and are now under increased scrutiny. These companies include:

Frontier Oil and Gas

Conoil Producing

Walter Smith Petrochemical

Bilton

Energia Ltd

Aiteo Petroleum Ltd

Pillar Oil Ltd

Additionally, First E & P Oil Company has been directed to reconcile an outstanding balance of $90 million with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and is scheduled to appear before the Committee on April 16, 2025, for further review.

ONGOING INVESTIGATIONS:
The PAC’s investigation is part of a broader push to ensure financial accountability in the oil and gas sector, particularly in response to findings from the 2021 Auditor General’s report, which revealed over ₦10 trillion in outstanding payments to the Federation Account.

Hon. Salam vowed that the era of financial mismanagement in the sector is nearing its end.

Reps

Reps

“We are determined to recover every kobo owed to the Nigerian people and ensure that public funds are managed with integrity,” he stated. As the PAC continues its investigations and public hearings, further updates on recovered funds and enforcement actions will be provided.

The House of Representatives remains steadfast in its commitment to upholding transparency, accountability, and financial discipline in Nigeria’s oil and gas industry.

Economy

Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki

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Obaseki

Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki

Okpebholo threatening me with violence, I’ll fight back says Obaseki. Godwin Obaseki, the immediate past governor of Edo, has accused Monday Okpebholo, his successor, of threatening him with violence. Obaseki spoke during the weekend at an event in London, the United Kingdom.

BACKGROUND
Since assuming office in November 2024, Okpebholo has initiated a series of actions aimed at scrutinising Obaseki’s tenure.

He first constituted a 14-member committee to investigate the assets, liabilities, contracts, and financial decisions made under Obaseki.

Okpebholo then expanded the scrutiny to the state civil service, ordering a probe into all recruitments conducted between May and November 2024, alleging a violation of due process.

Last week, Okpebholo asked the federal government to repatriate Obaseki to answer questions over public funds linked to the controversial Museum of West African Art (MOWAA) project.

‘OKPEBHOLO THREATENING ME’

Obaseki said the governor is threatening him with violence and allegedly sent thugs to attack him in the UK.

“Those who live by the sword will die by the sword,” Obaseki said. “And to tell the governor, Okpebholo, I don’t know him; I have never met him. When you start with violence, you will reap violence.

“For one year since I left office, I didn’t say one word. I decided to respect myself and allow them to try [in governance] as well. Go and find out, you won’t see one thing I said about his government.”

He accused Okpebholo’s government of being behind the attack on diplomats during the exhibition in MOWAA.

“As if that was not enough, the government paid people to come to Manchester to attack me,” he said.
“Who has started this violence? Is it me? Last week, this governor held a disgraceful press conference in which he threatened me not to come to Benin.

Obaseki

Obaseki

“They have been threatening violence. So if I respond, nobody should hold me responsible. “I can’t leave myself empty to be hurt and attacked by deranged people.

“So I am going to fight back. I will fight back. I didn’t start the fight. They are afraid. They know they did not win the election.”

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Jigawa: 9,600 Teachers Register For Special Training

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Teachers Register For Special Training

Jigawa: 9,600 Teachers Register For Special Training

Jigawa: 9,600 teachers register for special training. No fewer than 9,600 teachers under the Jigawa State Universal Basic Education Board (SUBEB) registered for a competency test to determine the specific training required to improve their skills and enhance teaching outcomes in the state.

The Executive Chairman of the Board, Professor Haruna Musa, revealed this while briefing journalists on the purpose of the examination, adding that 12,000 teachers were expected to register for the exam.

He explained that the state government, under the leadership of Governor Malam Umar Namadi, was committed to repositioning the state education sector as a key foundation for sustainable development, in line with its “12-Point Agenda.”

Prof. Haruna noted that while the government has been spending significant resources to improve educational infrastructure, meaningful learning improvements cannot be achieved without also enhancing the capabilities of teachers.

“Based on that, the State Executive Council approved for the board to organise a competency test for all teachers. This will enable us to understand the kind of training each teacher requires to improve his or her skills”.

“Out of the 9,600 teachers registered for the exam, over 70% have never attended any capacity-building training since they were employed, including some with over 15 years of service,” the Chairman added.

Teachers Register For Special Training

Teachers Register For Special Training

He stated that after the exam, the teachers will be categorised into three groups: Group A, those with both knowledge and teaching skills; Group B, those with knowledge but lacking teaching skills; and Group C, those lacking both knowledge and teaching skills.

“Each group will be offered specialised training. Those in Group C will undergo intensive training and subsequent examinations for a period to ensure they are equipped with the required knowledge and skills”.
“For those with slower learning uptake, we will attach them to competent teachers within their schools for ongoing guidance and mentorship,” Prof Haruna said.

He further stated that the project is not about retrenchment, but his primary goal is to enhance teachers’ capacity for better learning outcomes within the state’s basic education sector.

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PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery

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Leadway Pensure

PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery

PFA: Leadway pensure leverages innovations for quality service delivery. A Pension Fund Administrator (PFA), Leadway Pensure said, it is leveraging innovation to escalate quality

service delivery to its retirement savings account (RSA) holders. This milestone marks 20 years of trust, exceptional service delivery, and value creation as it celebrates its anniversary. It highlights two decades of dedication to protecting the financial wellness of Nigerian workers.

Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.

Speaking on this remarkable achievement, MD/CEO, Leadway Pensure PFA, Olusakin Labeodan, stated that: “As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation.

From the very beginning, our mission has been very clear, to deliver a pension system without barriersOver two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a nationwide presence, a robust mobile platform, and the AI-powered assistant LISA, we have made pension services accessible to eligible Nigerians.

“We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds. ”

Leadway Pensure

Leadway Pensure

Looking ahead, the company said, it is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey.

“The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.

As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria.

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