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Reps Orders OML18 Resources To Pay $4m Oil Royalties Within Five Days

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The House of Representatives Public Accounts Committee (PAC) has directed OML18 Resources Limited, formerly Sahara Field Production Ltd, to remit $4,020,000 to the Federation Account within five days.

The directive was issued during the Committee’s hearing on Wednesday, as part of its ongoing investigation into outstanding debts owed by oil companies to the Federation Account.

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According to a statement by the House Spokesperson, Akin Rotimi, the investigation, based on findings from the 2021 Audit Report and data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), involves 45 oil companies collectively owing $1.7 billion in outstanding liabilities.

READ ALSO: Reps Set Up Ad-hoc Committee To Perform Rivers Assembly Functions

During the session, NUPRC representative Balarabe Haruna reported that OML18 Resources owes a total of $20,232,978.58 — comprising $17,370,619.89 in crude oil royalties and $2,862,358.69 in gas flare penalties.

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He added that the company also owes N173,707,943.05 in gas sales revenue.

Responding to the allegations, Mrs. Olutobi Pamilerin Dairo, Team Lead of OML18 Resources’ Commercial Department, acknowledged the debt, stating that the NUPRC is the custodian of the relevant figures and confirming the accuracy of the liabilities.

READ ALSO: Reps Demand Reversal Of Telecom Tariff Hike As New Fees Begin

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“I agree there are liabilities,” she said.

Committee Chairman, Rep. Bamidele Salam, emphasized the seriousness of the matter: “The money owed to the Federation Account is significant and Nigeria needs the money. We take it that you have confirmed the NUPRC’s claims.”

The Committee resolved that 20% of the total amount equivalent to $4.02 million must be paid within 5 days.

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PAC also instructed OML18 Resources to reconcile its accounts with the asset operator within 14 days and report back to the Committee with a breakdown of the remaining liabilities.

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EFCC Orders Arrest Of Dismissed Officer On Lege Miami’s Show

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The Economic and Financial Crimes Commission has condemned the actions of one of its former staff, Olakunle Alex Folarin, who was recently spotted participating in a matchmaking programme on social media platforms hosted by popular entertainer Lege Miami.

The agency has ordered his immediate arrest for retaining official EFCC property, including an identity card, following his dismissal for certificate forgery.

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The anti-graft agency, in a statement on its official X handle on Monday, said Folarin served as a driver at the EFCC’s Ibadan Zonal Directorate.

READ ALSO:EFCC Releases Former Sokoto Gov Tambuwal

He was, however, dismissed after investigations confirmed he had forged his academic credentials.

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It said, “The Economic and Financial Crimes Commission, EFCC, condemned in the strongest terms, the involvement of one of its former staff, Olakunle Alex Folarin, in a matchmaking programme running on Lege Miami social media platforms.”

“Folarin was recently dismissed from the Commission for certificate forgery. He was a driver at the Ibadan Zonal Directorate of the EFCC.”

READ ALSO:EFCC Arraigns Six Katsina Revenue, Bank Workers Over N1.2bn Fraud

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The statement said EFCC Executive Chairma,n Mr. Ola Olukoyede, has ordered Folarin to be arrested and emphasised that Folarin’s actions should not be associated with the commission.

“The Executive Chairman of the EFCC, Mr. Ola Olukoyede, has ordered his arrest for being in possession of some Commission’s properties, including an identity card, which he should have handed over upon being dismissed from the EFCC.

“The public is advised against associating Folarin’s post-dismissal conduct with the EFCC,” the statement concluded.

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NERC Transfers Regulation Of Electricity Market To Bayelsa

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The Nigerian Electricity Regulatory Commission has transferred regulatory oversight of the electricity market in Bayelsa State to the Bayelsa Electricity Regulatory Agency.

In a notice on its social media handles on Monday, the commission said this was in compliance with the amended 1999 Constitution and the Electricity Act 2023.

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In compliance with the amended Constitution of the Federal Republic of Nigeria and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission has issued an order to transfer regulatory oversight of the electricity market in Bayelsa State from the Commission to the Bayelsa State Electricity Regulatory Agency,” the commission said.

READ ALSO:NLC, TUC Give NERC Deadline To Reverse Hike In Electricity Tariff

Recall that with the Electricity Act 2023, the commission retains the role as a central regulator with regulatory oversight on the interstate/international generation, transmission, supply, trading, and system operations.

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The Act also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes and requests NERC to transfer regulatory authority over electricity operations in the state to the state regulator.

The transfer order by NERC directed Port Harcourt Electricity Distribution Company Plc to incorporate a subsidiary distribution company to assume responsibilities for intrastate supply and distribution of electricity in Bayelsa State from PHED.

PHED was also directed to complete the incorporation of PHED SubCo within 60 days from August 21, 2025.

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READ ALSO:Estimated Bills: NERC Fines BEDC, Others, Deducts N10.5bn From Discos Revenue

The subcompany shall apply for and obtain a licence for the intrastate supply and distribution of electricity from BYERA, among other directives,” the commission said.

It concluded that all transfers envisaged by the order shall be completed by February 20, 2026.

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With this order, Bayelsa has joined states like Lagos, Imo, Ogun, Ondo, Ekiti, Enugu, Niger, Edo, Oyo and Plateau, which have got the power to regulate electricity markets.

The state can now generate, transmit, and distribute electricity while issuing licences to investors within the value chain.

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Things To Know As INEC Begins Physical Voter Registration Monday

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The Independent National Electoral Commission commenced the physical, in-person phase of its 2025 Continuous Voter Registration exercise across Nigeria today, Monday, August 25.

This follows the online pre-registration that commenced on August 18, 2025.

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In an update on its X handle on Monday, the commission provided details of the schedule, locations, and eligibility of voters.

READ ALSO:By-election: Politician, INEC Officials, Others Arrested With Large Cash In Ogun [VIDEO]

INEC said in-person registration will run Monday to Friday from 9:00 am to 3:00 pm, and urged eligible Nigerians to complete their registration at INEC state or local government offices in their area.

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The commission said those eligible to register or update their details include:

New voters aged 18 and above who have not registered before.

Holders needing to replace lost or damaged Permanent Voter Cards (PVCs).

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READ ALSO:INEC Portal Records Over 69,000 Online Voters Pre-registration

Voters seeking to transfer their registration to a new location.

People who need to update or correct their voter information (name, address, etc.).

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The electoral umpire asked registrants who completed online pre-registration to proceed to their INEC State Head Office or LGA office to finalise the process.

The commission also published a list of registration centres on its official portal.

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