Deepwater Development on the Cards as GCEO NNPC Limited Meets NAE MD

Group CEO of NNPC Limited, Engr. Bashir Bayo Ojulari, received in audience the Vice Chairman/Managing Director of Nigerian Agip Exploration Limited (NAE), Mr. Maurizio Pinna, in Abuja recently.
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Discussions centred on deepwater development with a focus on the work underway on the acreage held by the two companies as well as expected production.

NNPC, NAE

NAE operates the licences converted from OPL 245 together with NNPC Limited and SNEPCo. The acreage holds the Zabazaba and Etan deepwater fields, estimated at 500 MMbbl of reserves.
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NNPC, EITI Strengthen Cooperation on Deeper Disclosures, Global Standards

The Nigerian National Petroleum Company (NNPC) Limited and the Extractive Industries Transparency Initiative (EITI) have pledged to deepen their cooperation towards deeper disclosures, transparent reporting, and compliance with global EITI standards.
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The pledge came on the heels of a visit by the EITI Africa Country Director, Gilbert Makore, to the NNPC Towers recently. The visit forms part of the ongoing validation of Nigeria against the 2023 EITI Standard.

Makore particularly commended NNPC Limited’s measurable progress on outstanding validation requirements and with disclosures that now track EITI expectations more closely.

Group CEO of NNPC Limited, Engr. Bashir Bayo Ojulari, who described the EITI as a useful platform for attracting investment and building stakeholder confidence, said it allows the company to show its governance and transparency records.

NNPC

Makore was accompanied on the visit by the EITI Validation Lead, Riley Zecca; the Nigeria Extractive Industries Transparency Initiative (NEITI) Director, Policy, Planning and Strategy, Dieter Bassi; Director, Technical, Sa’ad Balarabe; and Director, Communications and Stakeholder Management, Obiageli Onuorah.

Technical sessions with the NNPC’s Governance, Risk, and Compliance (GRC) Division were held to review the work done to close identified validation gaps.
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EFCC Commences Investigations of Suspect, $73,000, £15,957 & 827,800 SAR Intercepted at Kano Airport

The Kano Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has commenced investigation of a suspect, Haruna Yusuf and multiple undeclared foreign currencies, , $73,000( Seventy Three United States Dollar) £15,957 ( Fifteen Thousand, Nine Hundred and Fifty Seven Pound Sterling) & 827,800 Saudi Riyal intercepted by the Nigeria Customs Service, NCS, at the Mallam Aminu Kano International Airport, MAKIA.
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The investigation commenced after the handover of the suspect and the undeclared currencies by the Acting Customs Area Comptroller of the Kano/Jigawa Command, Deputy Comptroller U. U. Adamu at the Customs Area Command in Kano.

The intercepted currencies, which exceeded the legally permitted threshold, were discovered during routine primary and secondary screenings of arriving passengers between August 8 and August 12, 2026.

The Acting Zonal Director of the EFCC, Kano Directorate, Assistant Commander of the EFCC, ACE1 Friday S. Ebelo, received the suspect and the recovered funds on behalf of the Commission.

According to Adamu, the Customs made two separate interceptions.

On August 8, 2026, “at approximately 14:20 hours, officers conducting passenger screening at the baggage seat of MAKIA intercepted an unaccompanied Saudi Air luggage containing 827,800 Saudi Riyals and $53,300 The currencies were found concealed inside a footwear.” Adamu stated.

Similarly, on August 12, 2026 “at approximately 13:50 hours, officers of the Nigerian Custom Service also flagged a luggage belonging to one Mr. Haruna Yusuf, who arrived at MAKIA on board Ethiopian Airlines flight ET941. During secondary screening using Non-Intrusive Inspection Technology, $20,000 USD and £15,957 were found concealed inside sportswear shoes”, he said.

Adamu thereafter formally handed over the suspect, Mr. Haruna Yusuf, alongside all recovered exhibits to Ebelo for further investigation and prosecution. He noted that the handover was in accordance with Section 4(f) of the NCS Act 2023, which empowers the Service to collaborate with other border regulatory agencies.

Adamu further explained that, “these interceptions demonstrate the readiness and vigilance of our officers in detecting cross-border movement of undeclared foreign currencies above the allowed threshold. The Command will continue to deploy technology, professional expertise, and intelligence-driven measures, including inter-agency collaboration to strengthen border controls and protect the integrity of Nigeria’s financial systems.”

Receiving the suspect and exhibits on behalf of the Executive Chairman of the EFCC, Mr. Ola Olukoyede, Ebelo expressed profound gratitude to the Customs Service for its professionalism and cooperation with EFCC officers recently deployed to the airport.

“We must sustain this vigilance at all our entry points to counter the illegal movement of currency. The failure to declare large sums of currency and its equivalent is a violation of the Money Laundering (Prevention and Prohibition) Act, 2022,” he said.

He urged the public to comply with the law, emphasizing that declaring currency attracts no penalty, only the source of undeclared funds may raise legal concerns.

“Once more, we call on the general public: as much as we are Nigerians and we encourage trade in and out of the country, people must adhere to the laws of the land. You must declare the currency you are carrying. If you declare it, nobody will seize your currency,” he said.

EFCC

Ebelo reaffirmed the EFCC’s commitment to thorough investigations and prosecution, stating that the Commission would continue to follow the law diligently

Both Ebelo and Adamu applauded the longstanding synergy between the EFCC and NCS which has been critical to combating financial crimes and illegal cash movement across Nigeria’s borders.
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