Energy
FG fails to pay whistle-blower who exposed secret $223m NNPC account
BY PUNCh Newspapers
The Office of the Attorney-General of the Federation is currently enmeshed in a scandal after refusing to pay a whistle-blower (name withheld) his N1.8bn commission for exposing an account with $223m (N80.2bn).
Several documents made available to The PUNCH by a source in the AGF’s office, showed that the whistle-blower approached the AGF, Abubakar Malami (SAN), in June 2018 and informed him of an account named, ‘NNPC Brass LNG INV. Fund’ with number 1750027157 domiciled in Skye Bank (now Polaris Bank).
The bank was said to have failed to remit the money to the Central Bank of Nigeria in contravention of the Treasury Single Account policy of the Federal Government.
Bank documents showed that the account was opened with the sum of $328, 998, 818.24 on May 31, 2014, at the Asokoro branch of the bank
According to statement of account obtained by The PUNCH, about $50m was transferred from the account to the account of the National Security Adviser domiciled in the account of the Central Bank of Nigeria on May 8, 2014 while Col. Sambo Dasuki (retd.) was still the NSA.
Investigations further revealed that after the Muhammadu Buhari-led government began the full implementation of the TSA and ordered that all government funds in commercial banks be transferred to the CBN, the aforementioned account continued to operate.
It was learnt that when the Bank Verification Number initiative was introduced and Maikanti Baru was appointed as the Group Managing Director of the NNPC, 14 persons (all NNPC officials) were listed as signatories to the account in contravention of banking practices.
Some of the names of signatories include: NNPC GMD, Maikanti Baru, with BVN 22169280709; NNPC Group General Manager, Babatunde Victor Adeniran, with BVN 22144631650; Head of Marketing, Mele Kolo Kyari, with BVN 22206528997; and Group General Manager, Research and Development, Surajudeen Bolanle Afolabi with BVN 22215178271.
Others include, Managing Director, Nigerian Petroleum Development Company, Yusuf Shimingah Matashi with BVN 22272006629; NNPC Secretary, Chukwudi Ogonna Momah, with BVN 22144111468; Group General Manager, CSR, Ohi Alegbe with BVN 22232395310; and Group General Manager, Group Insurance, NNPC, Modupe Bammeke with BVN 22190602006.
Upon reporting the matter to the AGF, the whistle-blower was said to have been referred to the Special Investigation Panel and briefed them on his findings.
He subsequently accompanied officials of the panel to the bank where top officials were arrested and made statements.
Members of the bank’s board were also invited by the panel where they were said to have complained that transferring all the money to the CBN in one fell swoop would affect the bank negatively and pleaded for the option of paying in instalments.
After playing his part, the whistle-blower signed a bond along with the AGF which was witnessed by Ladidi Mohammed, the Head, Asset Recovery and Management Unit at the AGF’s office.
A copy of the bond dated June 14, 2018 which was obtained by The PUNCH stated in part that, “any recovered amount from N5bn and above attracts a flat/definite reward of two and a half per cent of the recovered sum.”
It further stated the commission shall become due and payable to the whistle-blower ‘within 30 days’ of the receipt of the recovered/looted funds by the Federal Government and payment shall be made to the designated/nominated account provided in writing by the whistle-blower.
Checks by The PUNCH revealed that $30m was transferred from the said account to the CBN in three tranches on March 1, 2019, March 6, 2019 and April 25.
It was, however, learnt that 11 months after the agreement was signed, the Federal Government had failed to give the whistle-blower any money.
In a letter signed by the whistle-blower’s lawyer, Aliyu Lemu, which was addressed to the AGF, the whistle-blower lamented the failure of the government to honour the agreement.
He threatened to sue the Federal Government if he was not paid his commission within seven days.
The letter read in part, “We therefore on behalf of our client make a final demand for the immediate payment of the sum of N1, 829, 794, 676 being the reward due to our client as stipulated in paragraph (e) of the whistle-blower Reward Agreement executed with the Federal Government.
“Take notice that if the above final demand is not heeded within the period of seven days from the date of receipt of this letter, we shall explore all other social, public and legal remedies available to our client under the constitution of Nigeria without further recourse to your good office.”
When contacted on the telephone, the Head, Corporate Communications at Polaris Bank, Rasheed Bolarinwa, promised to get back to our correspondent but he had yet to do so as of press time.
Similarly, the AGF as well as his spokesman, Salihu Isah, did not respond to inquiries on Monday.
The PUNCH recalls that the Minister of Finance, Zainab Ahmed, boasted last week that the Federal Government had recovered N605bn through the whistleblower policy.
However, checks by The PUNCH showed that whistle-blowers were not always paid on time.
The PUNCH had reported in 2017 that the Economic and Financial Crimes Commission had recovered $43m, £27,000, N23m from a house in Ikoyi which belonged to the National Intelligence Agency.
However, it was only after pressure from the media eight months later that the Federal Government was compelled to pay the whistle-blower the sum which had been forfeited several months earlier.
The acting EFCC Chairman, Mr. Ibrahim Magu, had a few months ago lamented the slow pace at which whistle-blowers were getting their commission and how it could undermine the success of the policy.
Energy
NNPC, Dangote Strengthen Strategic Partnership
Bot partners reaffirmed commitment to Healthy Competition Towards National Prosperity, reports SANDRA ANI
As part of ongoing efforts to promote mutually beneficial partnerships and foster healthy competition, the Nigerian National Petroleum Company Limited (NNPC Ltd.) and Dangote Petroleum Refinery & Petrochemicals (DPRP) have pledged to deepen collaboration aimed at ensuring Nigeria’s energy security and advancing shared prosperity for Nigerians.
This commitment was made during a courtesy visit by the President/Chief Executive of Dangote Group, Mr. Aliko Dangote, and his delegation to the Group CEO of NNPC Ltd., Mr. Bashir Bayo Ojulari, and members of the company’s Senior Management Team at the NNPC Towers, on Thursday.
During the visit, Dangote pledged to collaborate with the new NNPC Management to ensure energy security for Nigeria.
“There is no competition between us, we are not here to compete with NNPC Ltd. NNPC is part and parcel of our business and we are also part of NNPC. This is an era of co-operation between the two organizations.” Dangote added.
While congratulating the GCEO and the Senior Management Team on their “well-deserved appointments,” Dangote acknowledged the enormity of the responsibility ahead, noting that the GCEO is shouldering a monumental task, which he expressed confidence that, with the capable hands at his disposal in NNPC, the task is surmountable.
In his remarks, the GCEO, Mr. Bashir Bayo Ojulari assured Dangote of a mutually beneficial partnership anchored on healthy competition and productive collaboration.
Ojulari highlighted the exceptional caliber of talent he met in NNPC Ltd., describing the workforce as a dedicated, highly skilled and hardworking professionals who are consistently keen on delivering value for Nigeria.
Expressing the company’s readiness to build a legacy of national prosperity through innovation and shared purpose, Ojulari said NNPC will sustain its collaboration with the Dangote Group especially where there is commercial advantage for Nigeria.
Both executives also committed to being the relationship managers for their respective organisations through sustained productive collaboration and healthy competition, thereby envisioning limitless opportunities for both organizations.
Energy
AVEVA is providing data management support for renewable natural gas projects
Reporter: Godwin Ezeh
Key Highlights
● AVEVA’s industrial information infrastructure has been selected by Archaea Energy to provide key data management support
● AVEVA’s industrial software to optimize performance across Archaea’s RNG plants
AVEVA, a global leader in industrial software driving digital transformation and sustainability, has been selected by Archaea Energy, the largest renewable natural gas (RNG) producer in the US, to build a comprehensive operations data management infrastructure.
Using AVEVA’s software, Archaea Energy can collect, enrich and visualize its real-time operations data, enabling performance analysis across its growing network of plants.
Using AVEVA PI Data Infrastructure, a hybrid solution with cloud data services, the plants will be able to share data to highlight operational opportunities and optimize efficiency.
Caspar Herzberg, CEO, AVEVA, stated,
“Through this collaboration and the use of AVEVA PI Data Infrastructure, Archaea’s growing network of plants will have streamlined operations with accurate performance analysis throughout the expansion. AVEVA’s CONNECT software platform leverages industrial intelligence from a central location, making it easier to deploy additional digital solutions in the future.”
“As the largest RNG producer in the United States, we are dedicated to delivering reliable, clean energy,” said Starlee Sykes, chief executive officer of Archaea Energy. “This relationship will allow us to optimize operations and offer detailed performance analysis as we continue to expand across the country.”
…OML 13 Asset Eyes 80,000 bpd by End of 2025
In a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, the NNPC Ltd has officially unveiled its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market.
It would be recalled 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 first cargo of 950,000 barrels which headed for Spain.
During a ceremony held at the Argus European Crude Conference taking place in London, United Kingdom, on Wednesday, the Managing Director, 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 export 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 a packed audience of European crude oil marketers.
He added that since its introduction into the global market, the Utapate crude oil blend has enjoyed a positive response from the international crude oil market, due to its highly attractive qualities.
Foucart said the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd, boasts a huge reserves of 330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf 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 said the Utapate crude oil terminal is sustainable, affordable and fully compliant with the rigorous environmental regulations and sustainability principles especially those aimed at reducing carbon emissions and other ecological effects.
Also speaking, the Managing Director of NNPC Trading Ltd (NTL), Mr. Lawal Sade said the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude as it is a light sweet crude which is highly sought after by refiners across the world due to its low sulphur content, efficient yield of high-value products, API gravity and other similarities.
He said in bringing the new crude oil blend to the global market, NNPC Ltd wanted to optimise value for both its producers and counterparties across the globe.
He added to ensure predictability and sustainability of supply, the NNPC Trading intends to run a term contract on the Utapate crude oil blend cargoes, principally targeting off-takers from the European and the US East Coast refineries.
Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and low carbon footprint due to flare gas elimination, fitting perfectly into the required specification of major buyers in Europe.
The NNPC E&P Ltd and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities.
The Utapate field development plan, executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations.
The plan involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure such as production facilities, storage tank, a subsea pipeline and an offshore loading platform to facilitate crude oil evacuation and loading.
The entry of the Utapate crude oil blend into the market is coming barely a year after the NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).
This remarkable achievement signals the commitment of the NNPC Ltd to increasing Nigeria’s crude oil production and growing its reserves through the development of new assets.
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