Connect with us

News

$3bn Refinery Fraud: N80bn Found In sacked MDs’ Bank Accounts

Published

on

The Economic and Financial Crimes Commission has arrested the recently sacked managing directors and some top officials of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company.
The officials were arrested over alleged mismanagement of funds earmarked for the rehabilitation of the facilities. The total amount under investigation is $2,956,872,622.36.

Findings by The PUNCH showed that the EFCC is probing the sum of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

Advertisement

The ex-Managing Director of Port Harcourt Refining Company Ltd is Mr Ibrahim Onoja, while Efifia Chu served as the ex-Managing Director of the Warri Refining and Petrochemical Company Ltd.

This came as impeccable top management sources at the Nigerian National Petroleum Company Limited revealed that N80bn was found in the account of one of the sacked MDs.

Also, operators and experts in the sector lambasted NNPCL for deceiving Nigerians regarding the operations of the refineries, particularly the Port Harcourt and Warri plants, following the poor output from the facilities since their resumption of operations in November and December 2024.

Advertisement

Dashed hope

NNPCL manages the three refineries for Nigerians. The plants had remained dormant for decades, but the Port Harcourt and Warri refineries resumed operations in November and December 2024, respectively.

READ ALSO: EFCC Arrests 19 Suspected Internet Fraudsters In Edo

Advertisement

However, less than one month after the Warri refinery resumed operations, the plant was again shut down due to safety concerns.

The Port Harcourt refinery, on the other hand, has been operating below 40 per cent of its capacity since its widely celebrated revamp.

On Tuesday the new NNPCL management fired the managing directors of the three refineries under its purview.

Advertisement

Some other senior officials of the national oil firm were also asked to leave; among them was Bala Wunti, a former chief of the National Petroleum Investment Management Services, a subsidiary of the NNPCL.

The new management also asked many officials with one year to their various retirement dates to leave.

Arrest of suspects

Advertisement

A senior EFCC source revealed that the arrests of the three ex-MDs and top officials were part of an ongoing investigation into the billions of dollars released for the quick-fix maintenance of the three state-owned refineries.

“We are investigating the money that was released for the rehabilitation of all three refineries—money disbursed in recent times. All the principal officers within that time frame are being invited.

READ ALSO: Nigerian Risks 40 Years Jail Over $2.5m Fraud In US

Advertisement

“Some have been arrested already, and we are still on the lookout for others. Nigerians are interested in seeing our refineries work. We are asking: where is the money, and what has happened to the refineries?” the official said.

The source added that the investigation was far-reaching, covering all key actors involved in the management of the refineries during the period in question.

The EFCC spokesman, Dele Oyewale, could not be reached as of the time of filing this report.

Advertisement

Earlier, sources at the NNPCL told The PUNCH that one of the sacked MDs had been with the EFCC for about a week.

“Large amounts have been discovered in his accounts. About N80bn has so far been discovered in his various accounts. The way things are going, it may be bigger than Emefielegate,” the official, who spoke in confidence due to the nature of the probe, stated.

Another official stated, “All the three of them are being investigated by the EFCC. It is indeed sad!”

Advertisement

Kyari under probe

A document obtained by The PUNCH on Friday from NNPCL, dated April 28, 2025, and titled, ‘Investigation Activities: Request for Information’, indicated that the probe by EFCC included the immediate past Group Chief Executive Officer of the national oil firm, Mele Kyari.

READ ALSO: EFCC Arrests Bauchi Accountant General Over Alleged N70bn Fraud

Advertisement

The EFCC document was addressed to the Group Managing Director (Group Chief Executive Officer) of the national oil company and contained the names of 13 other former senior executives of the NNPCL.

“The commission is investigating a case of abuse of office and misappropriation of funds in which the underlisted officials of your organisation featured,” the document stated.

It outlined the officials to include Abubakar Yar’Adua, Mele Kyari, Isiaka Abdulrazak, Umar Ajiya, Dikko Ahmed, Ibrahim Onoja, Ademoye Jelili, and Mustapha Sugungun.

Advertisement

Others are Kayode Adetokunbo, Efiok Akpan, Babatunde Bakare, Jimoh Olasunkanmi, Bello Kankaya and Desmond Inyama.

“In view of the above, you are kindly requested to furnish certified true copies of their emoluments and allowances, including that of those who have retired and no longer work with your organisation,” the anti-graft commission told the NNPCL boss.

The spokesperson for the NNPCL, Olufemi Soneye, has remained mute over allegations against top officials of the company, as he ignored repeated enquiries on the matter.

Advertisement

Lies uncovered

Although this is not the first time the company has feigned the effectiveness of its operations, citizens have noted that the lack of transparency not only deepens public distrust but also fuels speculation about the company’s true intentions and the actual state of Nigeria’s oil infrastructure.

On Tuesday the NNPCL came under fire as the $897m Warri refinery revamp flopped.

Advertisement

The $1.5bn newly repaired Port Harcourt refinery had been struggling at under 37.87 per cent production capacity.

This was after the revelation that the Warri Refining and Petrochemical Company had remained shut since January 25, 2025, due to safety issues in its Crude Distillation Unit Main Heater.

An April 2025 document on the Midstream and Downstream sector obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority revealed that the refinery, which consumed $897.6m in maintenance costs, failed to produce Premium Motor Spirit (petrol) and was shut down barely a month after former NNPCL boss, Kyari, declared it operational.
(PUNCH)

Advertisement

News

Tears As MKO Abiola’s Wife Doyinsola Laid To Rest In Lagos

Published

on

Dr Doyinsola Abiola, pioneering journalist and widow of the late Chief M.K.O. Abiola, was laid to rest on Friday in Lekki, Lagos, following a solemn funeral service at the Cathedral Church of Christ, Marina.

Her burial concluded a week of tributes that began on Tuesday at Harbour Point, Victoria Island, where family, colleagues, and associates celebrated her groundbreaking contributions to journalism and her service to Nigeria.

Advertisement

The funeral service, officiated by Ven. Henry Adelegan, Canon Residentiary of the Cathedral, featured scriptural readings by family and close associates. Psalm 91 was read by Midun Tobun, while the Epistle from 1 Thessalonians 4:13–18 was delivered by Suru Aboaba.

In his sermon, the Diocesan Bishop of Lagos West, Rt. Rev. Pelu Johnson, reflected on Abiola’s legacy under the theme of restoration and hope. He hailed her as a “record-breaker who shattered glass ceilings,” noting her trailblazing achievements as Nigeria’s first female Ph.D. holder in journalism, first female editor of a national daily, and the first woman to lead a national newspaper as Managing Director and Editor-in-Chief of the National Concord.

READ ALSO:From ‘Tiro’ to Concord: Inside Doyin Abiola’s Fearless Media Journey

Advertisement

She stood resolutely with her husband during Nigeria’s democratic struggle, using Concord Newspapers as a powerful voice in the battle for freedom. Her legacy lives on through the generations she inspired and mentored,” Bishop Johnson said.

He also used the occasion to urge the government to confront Nigeria’s current challenges, including insecurity, unemployment, and corruption, while easing the burden on citizens.

The service drew a distinguished audience, including President Bola Tinubu’s representative, Minister of Finance Wale Edun; Presidential spokesperson Bayo Onanuga; Lagos State Governor Babajide Sanwo-Olu; former Lagos governor Akinwunmi Ambode; former Ogun State governor Otunba Gbenga Daniel; and former Minister of Industry, Trade and Investment, Nike Akande.

Advertisement

Other dignitaries in attendance included Eniola Bello, Managing Director of ThisDay; Adesoji Ajayi-Bembe, Obanikoro of Lagos; Sir Steve Omojafor, Chairman of STB-McCann; Yeni Anikulapo-Kuti; former presidential aide Femi Adesina; Mrs Abimbola Fashola, wife of former Lagos governor Babatunde Fashola; Dele Babarinsa, co-founder of Tell magazine; Yemi Ogunbiyi, Managing Director of Daily Times; and Gbenga Adefaye, Provost of the Nigerian Institute of Journalism.

READ ALSO:OPINION: Onitiri-Abiola And The Madness In Ibadan

Following the service, her body was conveyed to her final resting place in Lekki, where she was laid to rest amid prayers, hymns, and heartfelt tributes.

Advertisement

Dr Doyinsola Abiola, who died on August 5, 2025, at the age of 82, is remembered as a trailblazer in Nigerian journalism, a defender of democracy, and a matriarch whose quiet strength and enduring influence left an indelible mark on the nation.

 

Advertisement
Continue Reading

News

Air Peace Reacts To NSIB’s Report On Drug, Alcohol

Published

on

The management of Air Peace has reacted to media reports based on a purported preliminary report by the Nigerian Safety Investigation Bureau, regarding an incident involving one of its aircraft at the Port Harcourt International Airport on July 13, 2025.

The airline’s reaction was contained in a statement signed by its management and shared on its official X account on Friday.

Advertisement

Air Peace, which operates domestic and regional routes, has in recent years positioned itself as Nigeria’s flagship private carrier, with a reputation for relatively strong operational standards in an industry often plagued by safety concerns.

The airline is also IOSA-certified, a global safety benchmark by the International Air Transport Association.

The PUNCH reports that the NSIB on Friday indicted an Air Peace pilot and a Co-pilot for taking hard drugs and alcohol.

Advertisement

The accident investigators tested the crew positive for the substances after the aircraft they flew was involved in a runway excursion at the Port Harcourt International Airport on July 13, 2025.

READ ALSO:JUST IN: Air Peace Crew Tested Positive For Alcohol, Drug — NSIB Report

This was contained in a preliminary report signed by the Director of Public Affairs and Family Assistance at Nigerian Safety Investigation Bureau, Mrs Bimbo Olawumi Oladeji, made available to PUNCH Online on Friday.

Advertisement

However, reacting to the report, on Friday, the airline’s statement partly read: “Our attention has been drawn to media stories on a purported preliminary report by the Nigerian Safety Investigation Bureau (NSIB) currently circulating online and in the media regarding the incident involving one of our aircraft at Port Harcourt on July 13, 2025.

“We are yet to receive any official communications from the NSIB on such findings over a month after the incident and after the testing of the crew for alcohol, which took place in less than an hour of the incident.”

The carrier emphasised that it places the highest priority on safety, transparency, and compliance, describing the report as misleading.

Advertisement

“As a responsible airline, we place utmost priority on safety, transparency, and compliance, and it is important to set the record straight,” the statement said.

The airline further explained its internal policies on crew discipline, stating, “Air Peace conducts frequent alcohol and drug tests on our crew. We have a very strict alcohol use policy that is stricter than the 8 hours before the flight as provided in the regulations. Drug use is a NO-NO!”

READ ALSO:JUST IN: Tension As Air Peace Flight Veers Off Runway In Port Harcourt

Advertisement

Providing details of actions taken after the Port Harcourt incident, Air Peace revealed that the captain of the affected flight was grounded.

“The captain of the affected flight was grounded and relieved from further flight duty till date for failure to adhere to Crew Resource Management (CRM) principles and for disregarding standard go-around procedures as advised by his co-pilot but not for testing positive to the breathalyser test, as the result was not communicated to us by NSIB to date”, the airline’s statement added.

However, the airline defended the co-pilot, saying he acted professionally during the incident. “Contrary to reports in the media, the First Officer (Co-pilot), who demonstrated professionalism in calling for a go-around to his captain, has been reinstated into active flying duties, with full approval from the Nigerian Civil Aviation Authority (NCAA).

Advertisement

“The NCAA cleared him. If he was involved in drug or alcohol use, the Nigerian Civil Aviation Authority would not have cleared him to resume flight duties”, it stated.

The airline added that if the relieved captain’s test result later proves positive, then it would “increase the frequency of our alcohol and drug tests on our crew.”

READ ALSO:Proposed Tesla Pay Package Could Make Musk World’s First Trillionaire

Advertisement

Air Peace also stressed the importance of retraining and stricter monitoring going forward.

Again, the importance of Enhanced Crew Resource Management Training cannot be overemphasised. We will intensify strict Fitness-for-Duty checks and Stronger Internal Monitoring to prevent any breach of our zero-tolerance safety policy”, the statement continued.

Reassuring passengers and the Nigerian public, the airline added: “Air Peace has consistently maintained a strong safety record and strictly implements global best practices in all aspects of its operations, and we reassure our esteemed passengers and the Nigerian public that safety will never be compromised in Air Peace.”

Advertisement

The July 13, 2025, incident at Port Harcourt International Airport reportedly involved a go-around manoeuvre initiated by the co-pilot after the captain allegedly failed to adhere to standard landing procedures.

Media reports suggested that alcohol consumption may have been a factor, citing a breathalyser test.

Advertisement
Continue Reading

News

Group Lauds President Tinubu, Buba On Security Evolvement Initiative

Published

on

A group, Northeast Concerned Citizens Association, has commended President Bola Tinubu and Sen. Shehu Buba for their security evolvement initiative in the country.

The group, in collaboration with Shehu Buba Ambassadors, Association of Tailors and Artisans as well as the Association of Small and Medium Enterprises made the commendation in a statement in Bauchi on Friday.

Advertisement

They said that under President Tinubu’s administration and constant commitment of Shehu Baba towards improving the security architecture of the country as the Chairman of the Senate Committee on National Security and Intelligence, Nigeria has witnessed renewed vigor in the war against insecurity.

The group argued that the President’s firm support for reforms in the security sector, coupled with his approval of critical interventions, has provided the enabling environment for sustainable peace-building efforts across the country.

READ ALSO:Bauchi Govt Inaugurates Pastors, Imams Peace Building Committee

Advertisement

According to them, Senator Shehu Buba has also consistently demonstrated leadership in the fight against insecurity by been at the forefront of pushing innovative strategies that goes beyond the use of force.

He has argued, both in the Senate and during public engagements, that Nigeria must adopt a blend of kinetic and non-kinetic approaches if the fight against banditry, insurgency, and other crimes is to yield lasting results.

“This is why he has championed dialogue, reconciliation, and socio-economic renewal as vital tools alongside military action.

Advertisement

“Indeed, his non-kinetic advocacy is already shaping policy directions at the national level,” they said.

READ ALSO: Malnutrition: Bauchi Govt Doles Out N300m To Fight Menace

The group, however, dismissed what they described as politically-inspired allegations attempted to link Buba with banditry, saying that the senator, who is representing the Bauchi South Senatorial District’s efforts in collaboration with the Office of the National Security Adviser and other key stakeholders, have led to a more balanced approach to security management.

Advertisement

“In this regard, the role of Mallam Nuhu Ribadu, the National Security Adviser, must be commended. His pragmatic headship, openness to innovative ideas, and relentless commitment to national security have been instrumental in translating Senator Buba’s non-kinetic advocacy into actionable policy.

“Civil society networks across the country have acknowledged the positive impact of this strategy, noting a gradual reduction in violent incidents in communities once plagued by criminality.

“This is a clear testimony that Senator Buba’s vision is not mere rhetoric but a tested model in line with global best practices.

Advertisement

“The truth remains that Senator Shehu Buba Umar has emerged as one of the strongest voices for peace and stability in Nigeria, and his leadership continues to inspire hope that our nation can overcome its current security challenges,” said the group.

Advertisement
Continue Reading

Trending