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President Tinubu Reviews Document As CBN Investigator Submits Interim Report

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George Akume, the Secretary to the Government of the Federation, has said the Federal Government will soon unveil the audit report of probe of the Central Bank of Nigeria.

Recall that President Bola Tinubu had on July 28, 2023, named a former Chief Executive Officer of the Financial Reporting Council of Nigeria, Jim Obazee, as the Special Investigator for the CBN.

The President asked the special investigator to probe the CBN and key Government Business Entities, adding that the investigator would report directly to the President’s Office.

However, the SGF said on Monday that the probe report of the CBN, when made public, would reveal how poor governance brought the country to the present predicament.

Akume made the disclosure while fielding questions at a press conference in Abuja on the 63rd Independence anniversary of Nigeria.

According to him, the report will enable Nigerians to know what really went wrong and how the country got to its present situation.

He said, “Most of these problems confronting us are due to bad governance. The present government has confronted and is confronting these challenges. When President Bola Tinubu came on board, he took a very sound decision at the CBN. That singular act led to a massive improvement in the capital market, as experts have told us, it is something that has never happened in the past 15 years.

“We have a new team at the CBN and a special investigator has been in the CBN for some time now and his result will soon be released and Nigerians will know what really went wrong and what brought us to where we are today.”

Tinubu had in a letter dated July 28, 2023, asked Obazee, to ensure the probe revealed government funds in the hands of private individuals.

The letter, which was addressed to the special investigator, read in part, “In accordance with the fundamental objective set forth in Section 15(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), this administration is, today, continuing the fight against corruption by appointing you as a Special Investigator, to investigate the CBN and Related Entities. This appointment shall be with immediate effect and you are to report directly to my office.”

However, findings (by The Punch) revealed on Monday that Obazee had submitted an interim report to the President’s office over a week ago.

Multiple officials said the preliminary report was submitted for necessary action by the President.

“The CBN Special Investigator submitted a preliminary report to the President’s Office over a week ago. The investigation still continues but the preliminary report is meant to give the President an idea of what has been discovered so far,” a top official privy to the development told The PUNCH on condition of anonymity because he was not authorised to speak on the matter.

It was gathered that the interim report would enable the president to take some key decisions that would help the country move forward.

Officials said the interim report led to the change of leadership at the CBN last week but this could not be independently verified as of press time.

The president and his team are said to be currently reviewing the report with a view to taking an appropriate decision on it soon.

The CBN special investigator had reportedly faulted the annual financial reports of the CBN which were recently released.

As a result, it was learnt the CBN might be asked to withdraw its audited annual financial reports.

In August, the CBN released its financial accounts for the years 2016 to 2022 amid an ongoing probe of the financial services sector regulator by a Special Investigator appointed by President Bola Tinubu.

SGF On Independence

Meanwhile, the SGF said on Monday no world leader had been invited for the 63rd independence anniversary of Nigeria scheduled for October 1, saying the decision was taken in line with its option for a low-key celebration.

He said, “Low keyed celebration has nothing to do with whether we’re not doing well. Economic times are hard, we are looking at it not just at the national level but also as a family. We have not invited world leaders. During the inauguration of the President, 53 world leaders were invited, so we have not invited any world leader.

“As you are aware, the President has given his approval for this 63rd anniversary to be low-key in line with the present economic realities. The theme of the anniversary is “Nigeria @ 63, Renewed Hope for Unity & Prosperity.”

Speaking on national interest, he said, “We have all agreed to live a united peaceful, united, prosperous country, despite our diversity. Without these, no nation can move forward. Government is making sure our national interest is not undermined.”

According to him, the celebration is particularly important at this time having witnessed an unbroken democratic record since 1999 as well as the seamless, successful and peaceful presidential transition programme from one government to another.

The SGF said, “Despite political tremors and a wave of coups in some parts of the ECOWAS sub-region, Nigerians have fully embraced democracy with its core values and practices as the best form of governance. Democracy affords the citizens the opportunity through elective structures and processes to effectively participate in the affairs of their country.

“The relationship between the people and government in a representative democracy is symbiotic: while the citizens support the government, the government provides security, protects, and enhances their interests.

“The government is fully aware of the economic challenges that Nigerians are confronted with since the removal of the fuel subsidy as well as the impact of the global economic downturn. The government is working assiduously to provide the necessary palliatives so as to mitigate such challenges and also the provision of buses to ease hardship on transportation among others. At the same time, the government is engaging with labour in order to address areas of concern for the well-being of all Nigerian workers and Nigerians generally.

Among the programmes lines up for the event included an anniversary symposium/public Lecture, on Thursday, September 28, 2023 at State House Conference Center @ 10 am; lecture on Friday September 29 2023 at the National Mosque Conference Center by 10 am  and Juma’at Prayer at the National Mosque at 1pm.

Akume also announced a presidential broadcast on Sunday, October 12023 at 7am; an inter-denominational church service on Sunday, October 1, 2023 at the National Christian Center  at 10:00 am and a military parade on Monday, October 2 2023 at the Presidential Villa, at 9am.

“I therefore call on you as media professionals and patriots to support this administration and build workable partnership in order to transform our country into the land of our dream. Also, I count on you to publicise activities lined up to mark Nigeria’s 63rd Independence anniversary”, he said.

 

Credit: The Punch

BIG STORY

NNPCL Extends Open Invitation To Former President Obasanjo For Tour Of Port Harcourt Refinery

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The Nigerian National Petroleum Company Limited (NNPCL) has extended an invitation to former President Olusegun Obasanjo for a tour of the Port Harcourt Refinery to verify its operational status.

This development follows Obasanjo’s recent interview with Channels Television, where he cited advice from “Shell Petroleum Development Company (SPDC)” suggesting the refinery would not function effectively.

According to the former president, “SPDC,” which was approached to acquire equity in the refinery, expressed concerns about corruption impeding its operations.

Obasanjo further alleged that NNPCL has been misleading Nigerians about the refinery’s functionality.

Responding to the claims, NNPCL’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, respectfully invited the former president to visit the facility, emphasizing the company’s commitment to transparency and accountability.

Soneye said: “Furthermore, we extend an open invitation to President Obasanjo for a tour of the rehabilitated refineries to witness firsthand the progress made under the new “NNPC Limited.”

Soneye also invited Obasanjo to join the NNPCL in its determination to guarantee the country’s energy security.

“We invite our esteemed former president to join us in this effort as we continue to deliver energy security for our nation and provide tangible benefits to Nigerians.

“His wisdom and experience are invaluable, and we assure him that his advice will always be welcomed and appreciated,” he said.

Soneye explained that the NNPCL did not only carry out a turnaround maintenance on the plant but it embarked on a complete overhaul of the refinery.

He said: “As part of this transformation, “NNPC Limited” has gone beyond oil and gas to become an integrated energy company.

“One of our notable achievements is the complete rehabilitation of the Port Harcourt Refining Company (PhRC) and Warri Refinery.

“This process was not merely the “Turnaround Maintenance (TAM)” of the past but a full-scale overhaul designed to meet world-class standards. Similarly, we are currently conducting the same comprehensive rehabilitation of the old Port Harcourt Refinery and Kaduna Refinery.”

He added that NNPCL has evolved from being a government corporation to a private entity with limited liability.

He said owing to the transition, NNPCL has also moved on from being a loss-making organization to a profit-driven international energy firm.

The new “NNPC Limited,” he said, is committed not only to enhancing these refineries but also to maintaining them to global standards.

Soneye noted that NNPCL will ensure their sustainable operation and contribute significantly to Nigeria’s energy security.

He said: “Regarding his recent comments, we would like to respectfully clarify the current state of the “NNPC.”

The “NNPC” has undergone a transformative journey, evolving from a government corporation into a private entity—”NNPC Limited.”

“This transition has marked a significant shift from being a loss-making organization to a profit-oriented global energy company.”

“We deeply respect and hold President Obasanjo in the highest regard as a distinguished statesman who has contributed significantly to the progress of our nation.

“He has every right to share enduring commitment to the growth and development of Nigeria. Together, we can continue to build a brighter future for our great nation.”

Soneye, who was also requested to react to a media report that NNPCL was to stop the supply of crude oil to Dangote Refinery said, “No need to respond to falsehood.”

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BIG STORY

Naijahottestgist Unveils Man Of The Year, Company Of The Year, Young Person Of The Year, And Public Servant Of The Year!

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In a year filled with trials and triumphs, these individuals and organizations have risen above challenges to embody resilience, innovation, and exceptional leadership. From the unbreakable spirit of the Man of the Year to the groundbreaking strides of Dangote Refinery, the transformative efforts of Stella Okotete, and the impactful reforms led by Olubunmi Tunji-Ojo, these stories inspire hope and progress for a brighter Nigeria.

1. Meet the Man of the Year

The Man of the Year is no ordinary person. He’s a Nigerian who has lived through the realities of 2024—one of the toughest years yet.

He is the man who has endured the hardship of a nation in flux. From waking up each day to face the high cost of fuel to navigating skyrocketing food prices, he’s felt the weight of every naira spent. Insecurity loomed over his daily life, yet he carried on with courage, protecting what mattered most.

Through it all, this man refused to break. His resilience, grit, and determination to keep moving forward in the face of overwhelming odds set him apart. He is not celebrated for wealth or fame but for his strength, perseverance, and the hope he carries in his heart for a better tomorrow.

The Man of the Year is a symbol of every Nigerian who has faced the same struggles, stood firm, and chosen to believe in a brighter future. His story is your story—one of survival, strength, and the unbreakable spirit of Naija.

Here’s to the Man of the Year. He is proof that no matter how hard the times, resilience will always shine through.

2. Young Person of the Year: Stella Erhuwuoghene Okotete

Stella Okotete, Executive Director of the Nigerian Export-Import Bank (NEXIM), stands out as a trailblazer promoting youth and women’s participation in business, governance, and politics. A visionary leader, she spearheads innovative initiatives at NEXIM, including the Women and Youth Export Development Facility, which provides low-interest loans, and the Nigerian Export-Import Bank Academy (NEXA), a certified digital platform for export-import education.

With degrees from Benson Idahosa University and NOUN, alongside certifications from global institutions such as Harvard, Oxford, and Columbia Business School, Okotete has held significant political roles, including secretary of the APC Election Planning and Monitoring Committee in 2023. Her contributions to public service include serving as Special Assistant on MDGs for Delta State, where she aligned policies with sustainable development goals and implemented impactful programs in education, healthcare, and poverty alleviation.

As co-founder of the E’Girls Foundation, she has championed girl-child rights and human capacity development since 2000. Her work has also led to groundbreaking efforts like outlawing female circumcision in Ughelli North and driving school enrollment through the “War Against Loitering and Hawking During School Hours” initiative.

Committed to empowering women in governance, she developed a strategy to train 20 million women for public office and conceptualized the Progressive Women Trust Fund, fostering financial support for female leaders. Okotete’s relentless dedication to service, innovation, and empowerment makes her a standout leader transforming Nigeria’s socio-economic landscape.

3. Nigerian company of the year

Dangote Refinery

The Dangote Refinery is a game-changer for Nigeria’s oil industry. Located in the Lekki Free Trade Zone, Lagos, it’s the largest single-train refinery in the world, with a capacity to process 650,000 barrels of crude oil per day.

This massive project, worth over $19 billion, is expected to meet 100% of Nigeria’s oil needs and even have a surplus for export. The refinery will produce various petroleum products, including diesel, kerosene, and gasoline.

Some impressive features of the Dangote Refinery include:

– *Pipeline Infrastructure*: The largest sub-sea pipeline infrastructure in the world, spanning 1,100 kilometers.

– *Power Generation*: A 435MW Power Plant that can meet the total power requirement of Ibadan DisCo.

– *Job Creation*: The refinery is expected to provide 135,000 permanent jobs in the region.

The refinery began production in January 2024, starting with diesel fuel and aviation fuel. With its advanced technology and massive capacity, the Dangote Refinery is set to revolutionize Nigeria’s oil industry and boost the country’s economy.

4. Nigerian public servant of the year

Olubunmi Tunji-Ojo, the Minister of Interior in Nigeria, has indeed been associated with efforts to bring about positive change and reform in the country.

Some of the key areas where Tunji-Ojo has been instrumental in driving reform include:

1. *Prison Reform*: Tunji-Ojo has been advocating for prison reform, aiming to improve the living conditions and rehabilitation programs for inmates.

2. *Immigration Reform*: He has been working to modernize Nigeria’s immigration system, making it more efficient and effective in managing the country’s borders.

3. *Disaster Management*: Tunji-Ojo has been instrumental in strengthening Nigeria’s disaster management capabilities, ensuring that the country is better prepared to respond to natural disasters and emergencies.

4. *Internal Security*: He has been working to enhance internal security in Nigeria, focusing on community policing and intelligence-driven law enforcement.

These efforts demonstrate Tunji-Ojo’s commitment to driving positive change and reform in Nigeria, particularly in the areas of justice, security, and humanitarian response.

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BIG STORY

Inside Delta: Police Arrest Man For Allegedly Stabbing Neighbour To Death Over Rice

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The Delta State Police Command confirmed the arrest of 30-year-old Daniel Onyejekwe for allegedly stabbing his neighbor, Christian, to death over a dispute about rice.

The incident occurred on New Year’s Day in the Ogwanja area of Sapele, Delta State.

The Police Public Relations Officer, Delta State Command, SP Bright Edafe, confirmed the development on Thursday, saying, “It is confirmed, and the suspect is in custody.

The two were fighting and injured themselves badly. Unfortunately, one, Christian, died.”

An eyewitness reported that the altercation started when rice was being shared along Boyo Road in Ogwanja.

An argument ensued between Onyejekwe and the deceased, leading to a physical fight.

The eyewitness stated, “Christian and Daniel started dragging the rice, and during the fight, Daniel picked a bottle and stabbed Christian multiple times. The vigilante rushed him to the hospital, but he was confirmed dead on arrival.”

The remains of the deceased have been deposited at a mortuary, while the police have launched an investigation. SP Edafe assured residents that the suspect would be prosecuted after the investigation was concluded.

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