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NNPC Clears Air On Kyari’s ‘N687trn Profit’ Statement, Says “We Generated N674bn In 2021”

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The Nigerian National Petroleum Company Limited (NNPCL), has clarified that the company’s 2021 profit-after-tax (PAT) was N674 billion, not N687 trillion.

Mele Kyari, NNPC Limited’s group chief executive officer (GCEO), on Thursday, discussed the national oil company’s projected profit margin for 2021 on Arise TV’s “The Morning Show”.

“I am sure you are aware that this company has broken even. We have [been] doing very well,” Kyari said.

“We have a profit level of N687 trillion in fiscal 2021.”

However, Garba Deen Muhammad, NNPC’s spokesperson, clarified that Kyari made an error and that the accurate PAT value had been released on the company’s official Twitter page in 2022.

“Inadvertently, N687 trillion was mentioned as the company’s profit after tax figure as against N674 billion contained in the 2021 annual financial statement,” he said.

Quoting the company’s 2021 annual financial statement, he said the accurate profit-after-tax figure for 2021, “N674 billion, was communicated to the public via our official Twitter account on 05/10/2022”.

Meanwhile, the 2021 financial year made it the fourth consecutive time that the NNPC opened its book for public scrutiny.

When the NNPC first published its account statement in 2018, it reported a loss of N803.9 billion.

BIG STORY

BON 2024: Madam Saje, Kanayo O Kanayo Set To Bag Lifetime Achievement Awards

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With the Kwara State government set to host the prestigious Best of Nollywood (BON) Awards on November 24, esteemed actors, Fausat Balogun, popular as Madam Saje, and Kanayo O Kanayo are poised to recieve the Best of Nollywood Lifetime Achievement Awards for 2024.

The announcement was made by Seun Oloketuyi, founder, BON Awards, earlier in the week.

With the announcement the duo are set to join other Nollywood greats in the league of Lifetime Achievement Award winners. On this list are people like Adebayo Salami, Toyin Adegbola, Madam Kofo, and others.

While speaking about the duo, Oloketuyi explained that there was a need to start celebrating film heroes in their lifetime, when they can enjoy the accolades.

He said , “Why must we wait till our film heroes are dead to give them awards? Posthumous awards are good, but its better the recipient is alive to recieve awards.”

Also weighing in, Feranmi Olaoye, the Executive Producer BON Awards revealed that the choice of Kanayo and Madam Saje were not made lightly.

“These two are people we grew up watching. They inspired the generation we watch now, and they still maintained their stand in the industry. They deserve to be celebrated, and that’s why we have chosen them as this year’s Lifetime Achievement Award winners.

The 2024 edition of the BON Awards is billed to hold at the Sugar Factory Film Studios in Ilorin, the state’s latest hub for filmmakers.

Oloketuyi had earlier expressed excitement about Kwara’s role as host, promising a fulfilling experience for the expected 500 Nollywood stars attending.

Governor AbdulRahman AbdulRazaq had also highlighted the studio’s potential to elevate Nigerian cinematography and promote local talent. The event underscores Kwara’s commitment to becoming a leading destination in the creative industry, fostering growth and investment in the sector.

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BIG STORY

JUST IN: Prison Officers Involved In Bobrisky Bribery Allegations Will Face Prosecution — Interior Minister Tunji-Ojo

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The Federal Government on Friday assured that all individuals implicated in the alleged bribery case involving crossdresser “Idris Okuneye, also known as Bobrisky,” will be prosecuted.

This announcement was made by the Minister of Interior, “Dr. Olubunmi Tunji-Ojo,” during a press conference in Abuja on Friday, commemorating his first year in office.

Earlier, the minister had launched a comprehensive investigation into accusations of bribery and corruption within the “Nigerian Correctional Service (NCoS).”

This came after reports emerged that “Bobrisky,” who had been sentenced to prison earlier in the year, had not served his sentence within the correctional facility.

As the investigation progressed, the Nigerian Government, through the “Civil Defence, Correctional, Fire and Immigration Services Board,” suspended several senior prison service officers on Thursday, “September 26, 2024.”

The officers suspended include “Michael Anugwa,” Deputy Controller of Corrections (DCC) responsible for the Medium Security Custodial Centre (MSCC) in Kiri-kiri, Lagos State; “Sikiru Adekunle,” Deputy Controller of Corrections (DCC) overseeing the Maximum-Security Custodial Centre (MSCC) in Kiri-kiri, Lagos State; and “ASC II Ogbule Samuel Obinna,” stationed at the MSCC in Afikpo, Ebonyi State, who was accused of escorting a convicted inmate outside the facility.

Another officer, “Iloafonsi Kevin Ikechukwu,” Deputy Controller of Corrections (DCC) managing the MSCC in Kuje, Abuja, was suspended for allegedly accepting payments on behalf of an inmate.

In addressing the unfolding bribery and corruption scandal, “Dr. Tunji-Ojo” called on Nigerians to remain patient during the investigation, assuring the public that all involved would be held accountable.

“We will not spare anyone, regardless of their status. The investigation is ongoing, but rest assured that no one will be shielded or protected,” the minister asserted.

He further clarified that the investigation went beyond the allegations linked to “Bobrisky,” noting that of the four suspended officers, only two were connected to the “Bobrisky” case. “This process will continue; it doesn’t end here,” he added.

“Dr. Tunji-Ojo” expressed his trust in the integrity of the committee members leading the investigation, encouraging the public to have confidence in their work.

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BIG STORY

UPDATE: US Company Costco Denies Selling Baby Oil To Diddy

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American wholesale corporation, Costco, has denied selling “baby oil” to disgraced rapper and music executive, Sean Combs, aka Diddy.

The federal officers seized supplies that they say were intended for use in orgies known as “freak offs,” including drugs and more than 1,000 bottles of “baby oil” during the raiding of Diddy’s Beverly Hills mansion in March.

In a new TMZ Studios documentary, ‘The Downfall of Diddy: The Indictment’, the rapper’s lawyer, Marc Agnifilo suggested he had 1,000 bottles of “baby oil” because he buys them in bulk from Costco.

Reacting to Diddy’s lawyer’s claim, Costco said they don’t sell “baby oil.”

“None of the company’s US locations carry ‘baby oil,'” Costco told TMZ.

Diddy was recently arrested by Homeland Security on suspicion of sex trafficking, racketeering conspiracy and interstate transportation for prostitution.

Diddy has denied all the charges, entering a not-guilty plea on Tuesday, 17 September.

However, the Bad Boy Records’ boss’ bail request was rejected twice.

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