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N1.3tn Fraud: Former Delta Governor Okowa Spends Second Night In EFCC Custody

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The former governor of Delta State, Ifeanyi Okowa, is still being held at the Port Harcourt, Rivers State office of the Economic and Financial Crimes Commission (EFCC).

This marks his second night in the custody of the anti-graft agency.

Meanwhile, the Delta State chapter of the All Progressives Congress (APC) has backed the detention of the former governor, calling it a positive step in Nigeria’s ongoing battle against corruption.

Okowa, who was the running mate of the Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, in the 2023 election, reported to the EFCC office on Monday following an invitation by investigators over the alleged diversion of N1.3 trillion.

He was subsequently arrested and detained.

Sources revealed that the former governor is also accused of failing to account for another N40 billion he allegedly claimed to have used to acquire shares in UTM Floating Liquefied Natural Gas.

One of the sources stated, “He was also accused of failing to render accounts of the funds as well as another N40bn he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.

“He also allegedly bought shares of N40bn in one of the major banks in the country, representing eight per cent equity to float the offshore LNG. The funds were alleged to be used for other purposes.

“Investigators are also investigating the diversion of funds by the former governor to acquire estates in Abuja and Asaba in Delta State.”

However, a source familiar with the matter told on Tuesday said that the former governor was yet to be released because of the scale of the allegations against him (according to The PUNCH).

The source added that Okowa was earlier in the day confronted with the allegations.

“We are still keeping him, he is still with us. The investigation is ongoing and earlier, he was confronted with some of the allegations against him.

“We are still keeping him because of the quantum of the allegations and amount involved. We want him to respond to the allegations,” the source said.

The Delta APC State Publicity Secretary, Valentine Onojeghuo, in a statement on Tuesday, urged the EFCC to continue its investigation into the financial dealings of other former governors and public officials.

The statement partly read: “We in the APC wholeheartedly welcome the arrest of the former governor, who oversaw one of the most concerning cases of financial mismanagement during his eight-year tenure.

“His administration allegedly funnelled significant state resources into personal ventures, including establishing a bank, financing a failed presidential ambition, and supporting the controversial imposition of a successor.

“The arrest serves as a caution to all public officeholders, affirming that the era of impunity is over and that no one, irrespective of position or political affiliation, is above the law.”

It added that “The legacy of Dr Ifeanyi Okowa’s administration is a high debt profile resulting from a reckless borrowing spree, which earned him the notorious nickname of ‘Borrow Borrow Governor’.

“During his eight years in office, Delta State has little to show for the vast federal allocations received. The few substandard roads he constructed, often hailed as the ‘roadmaster,’ have deteriorated rapidly.”

BIG STORY

JUST IN: Simon Ekpa, Four Others Arrested In Finland Over Terror-Related Activities

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Finnish-Nigerian separatist agitator, Simon Ekpa, and four other individuals have been arrested in Finland over terror-related activities.

A local report in Finland stated that Ekpa, the self-declared “Prime Minister of Biafra Republic Government In-Exile,” was remanded in custody by the district court of Päijät-Häme on suspicion of public incitement to commit a crime with terrorist intent.

In a Thursday statement published on its website, the Central Criminal Police in Finland said it had arrested five people on suspicion of terrorist crimes.

The police said the main suspect was arrested “on suspicion of public incitement to commit a crime with terrorist intent,” while four others were arrested “for financing a terrorist crime.”

The police added: “Claims will be heard in Päijät-Häme district court today, November 21.”

The statement reads: “The detention demands are related to the preliminary investigation, in which a Finnish citizen of Nigerian background, born in the 1980s, is suspected of public incitement to commit a crime with terrorist intent.”

“The police suspect that the man has promoted his efforts from Finland by means that have led to violence against civilians and authorities as well as other crimes in the region of South-Eastern Nigeria.”

The statement quoted the head of the investigation, Crime Commissioner Otto Hiltunen from the Central Crime Police, as saying that “the man has carried out this activity, among other things, on his social media channels.

“Four other persons are suspected of financing the aforementioned activity. All five suspects of the crime have been arrested during the beginning of the week.”

“International cooperation has been carried out during the preliminary investigation,” the statement added.

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Time Has Come For African Military To Close Ranks — Tinubu

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President Bola Tinubu has urged the military across Africa to unite in tackling insecurity and other threats to the continent’s unity and stability.

He made the call on Wednesday when he officially declared open the second edition of the Africa Military Games (AMGA) in Abuja, describing the event as a historic platform to foster unity, camaraderie, and military cooperation across the continent.

The Games, with the theme, “Enhancing Military Cooperation in Africa through Sports,” mark the revival of a tradition started over 20 years ago in Nairobi, Kenya.

Speaking at the opening ceremony at the Moshood Abiola National Stadium, President Tinubu, who was represented by his deputy, Vice President Kashim Shettima, highlighted that no single nation can address its security challenges in isolation.

“Our collective safety and the well-being of our people demand that we stand together, shoulder to shoulder, as one united Africa,” he said, emphasizing the importance of the Games in reinforcing Africa’s collective security efforts,” Tinubu was quoted as saying in a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications (Office of the Vice President).

Tinubu further stated, “This occasion is more than a gathering of extraordinary athletes; it is an undeniable reminder of the cooperation that binds the military institutions across our continent. Today, we reaffirm the promise of what we can achieve when we stand together—not just as neighbours, but as guardians of a continent that depends on your valour, sacrifices, and unyielding dedication.”

In reflecting on the legacy of the Games, President Tinubu commended the leadership of the Chief of Defence Staff, General C.G. Musa, and President of the Organisation of Military Sports in Africa (OSMA), Major General M. Abdullahi, for their efforts in reviving the event.

The President emphasized the importance of sports in promoting physical fitness, discipline, and resilience among military personnel, all crucial attributes for addressing Africa’s diverse security challenges.

“Sports not only keep us physically fit but also infuse core values such as integrity, excellence, and discipline. When our men and women are fit, they are better equipped to confront the challenges of their duties with resilience and confidence,” he said.

Tinubu also underlined the need for broader unity in confronting the continent’s security threats.

“The security challenges we face cannot be addressed through kinetic measures alone. We must deepen the friendships and partnerships that have long existed among us. As long as any nation within our shared geography remains under threat, none of us can declare our continent secure. Together, we will build a safer, stronger Africa,” he asserted.

Earlier, the Chief of Defence Staff, Gen. Musa, explained that the second edition of the Games was not only a celebration of the physical abilities of military athletes but also an opportunity to showcase the strong bond that unites the armed forces across Africa.

He emphasized that the Games remind participants of the power of cooperation and friendship, urging the 1,625 athletes and officials from across Africa to embrace the spirit of sportsmanship during the various events.

Gen. Musa assured that the Armed Forces of Nigeria would continue to strengthen its partnerships with other African armed forces in order to enhance the capacity to defend the territorial integrity of countries across the region.

Additionally, President of the Organisation of Military Sports in Africa (OSMA), Maj. Gen. Maikano Abdullahi, stated that hosting the second edition of the Games in Nigeria was a realization of the vision of the founding fathers of OSMA to promote unity, friendship, and solidarity among Africa’s armed forces.

Maj. Gen. Abdullahi praised the commitment of Nigeria’s President and the OSMA founding fathers, highlighting that the Games serve as a platform to showcase the rich heritage and talents of Africa’s armed forces. He encouraged participants to compete fiercely yet fairly, rekindling the bonds that unite military forces across the continent.

The opening ceremony included a callisthenics display, performances by various artists, the hoisting of the OSMA and AMGA flags, an oath-taking ceremony by athletes and officials, and the symbolic lighting of the Games torch by the Vice President.

Other notable figures present at the event included the Speaker of the House of Representatives, Rt Hon. Tajudeen Abbas (represented by the Chairman of the House Committee on Defence, Hon. Babajimi Benson), Minister of Defence Mohammed Abubakar Badaru, Minister of State for Defence Bello Matawalle, Chairman of the National Sports Commission Alh. Shehu Dikko, Acting Chief of Army Staff Lt. Gen. Olufemi Oluyede, Chief of Naval Staff Vice Admiral Emmanuel Ogalla, Chief of Air Staff Air Marshal Hassan Abubakar, as well as heads of delegations from the participating countries and senior military officers.

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NNPCL Commences Sale Of Utapate Crude To International Market

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The Nigerian National Petroleum Corporation Limited (NNPCL) has officially unveiled its latest crude oil grade, the Utapate crude oil blend, to the international crude oil market.

This development is seen as a major boost for Nigeria’s crude oil production, revenue generation, and overall economic growth efforts, according to NNPCL.

In a statement signed by its Chief Corporate Communications Officer, Olufemi Soneye, on Wednesday in Abuja, the NNPCL revealed that the new product was presented to a packed audience of European crude oil marketers at the ongoing Argus European Crude Conference in London, England.

It is worth noting that in July 2024, NNPC Ltd. and its partner, the Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd., introduced the Utapate crude oil blend, following the lifting of the first cargo of 950,000 barrels, which was shipped to Spain.

During the event in London, the Managing Director of NNPC E&P Limited (NEPL), Mr. Nicholas Foucart, described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil exports to the global energy market.

“Since we started producing the Utapate Field in May 2024, we have rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime. So far, we have exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market,” Foucart told the audience of European crude oil marketers.

He further noted that since its introduction, the Utapate crude oil blend has received a positive response from the international market due to its highly attractive qualities.

Foucart mentioned that the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd., has a substantial reserve of 330 million barrels of crude oil, 45 million barrels of condensate, and 3.5 trillion cubic feet of gas.

“We have a number of ongoing projects to increase our production from the current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to 65,000bopd by June 2025. Essentially, we are targeting opportunities to increase production to 80,000bopd by the end of 2025,” Foucart added.

He emphasized that the Utapate crude oil terminal is sustainable, affordable, and fully compliant with rigorous environmental regulations and sustainability principles, especially those focused on reducing carbon emissions and other ecological effects.

The Managing Director of NNPC Trading Ltd. (NTL), Mr. Lawal Sade, also spoke at the event, explaining that the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude. He noted that it is a light sweet crude, highly sought after by refiners worldwide due to its low sulphur content, efficient yield of high-value products, API gravity, and other key characteristics.

In bringing the new crude oil blend to the global market, NNPC Ltd. aims to optimize value for both its producers and global counterparts.

To ensure predictability and sustainability of supply, NTL intends to run a term contract for Utapate crude oil blend cargoes, primarily targeting off-takers from European and U.S. East Coast refineries.

The Utapate crude oil blend, produced from the Utapate field in OML 13 in Akwa Ibom State, Nigeria, is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and a low carbon footprint due to flare gas elimination, making it a perfect fit for major buyers in Europe.

The NNPC E&P Ltd. and NOSL partnership is committed to operating in a safe, environmentally responsible manner while benefiting local communities.

The Utapate field development plan, which was executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations. It also involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure, such as production facilities, storage tanks, a subsea pipeline, and an offshore loading platform to facilitate crude oil evacuation and loading.

The introduction of the Utapate crude oil blend into the market comes just a year after NNPC Ltd. launched the Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).

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