Connect with us
Maduka University Advert

News

Subsidy removal: where are the dollars, Sanusi doubts remittance by NNPCL

Published

on

Maduka University

•Ex-emir entitled to his opinion, NNPCL remains focused, says spokesman

A former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, has advised President Bola Tinubu against occupying the office of the Minister for Petroleum Resources, saying such arrangement will make it difficult for the country to hold the Nigerian National Petroleum Corporation Limited accountable.

He made this known while delivering his remarks at the Bank Directors Summit organised by the Bank Directors Association of Nigeria on Thursday in Abuja.

Sanusi who was the CBN governor from June 2009 to February 2014, also adjudged the NNPC as the “most opaque oil company in the world.”

The vocal economist slammed the NNPCL for allegedly failing to remit enough foreign exchange into the government coffers despite the removal of fuel subsidy by the current administration.

Advertisement

The former Emir of Kano also stressing the need to stabilise the foreign exchange market, noting that  monetary policies in the last eight years had led to rising inflation and economic downturn in the country.

According to him, the idea of the president occupying the petroleum minister office will make it difficult for anyone to raise the question of accountability.

He said, “The exchange rate needs to be stabilised and we have to address the fundamental question, why is there no money coming in? Why is the NNPCL not able to bring in dollars? Am sorry this is the question that cost me my job and I will continue asking this question until NNPCL fixes it up or until I die. Where are the dollars? We need to shine a light on the NNPCL. The finance minister cannot tell you because he doesn’t have a monitoring system that reports to him. The finance minister can’t tell you how many barrels of petrol we produce and export. It is only the NNPCL that can give those figures. The finance ministry needs to know how much oil we produce daily, how much we sell, and where the money is going.

“We are no longer paying subsidies so where are the dollars? It was under recovery during the subsidy era and that has been stopped, so where is the money? This was the issue I raised for which I was suspended, well you can suspend me again. The NNPCL is the most opaque oil company in the world. When I was in the central bank for 15 years, they had not been audited. We have to follow the money from production to export to return, where is the money going? We paid N11tn in subsidy and there is no accountability up till now. The National Assembly called the NNPCL to bring the documents, but they refused.

He added, “By the way, let me advise that the idea of the President becoming a petroleum minister is not a good idea. The last president was the minister of petroleum for eight years.   When I was governor of the central bank we had a minister of petroleum so when I talk about the NNPCL, I could attack Diezani Madueke. Now, nobody can talk about petroleum because for eight years if you talk, you are attacking the president. We need that buffer, somebody has to be there, so a minister has to be there who is held accountable by Nigerians.”

Advertisement

In August, about three months after his inauguration, President Bola Tinubu split the Ministry of Petroleum Resources with the appointment of Ekperipe Ekpo as Minister of State, Gas Resources; and Heineken Lokpobiri as Minister of State, Petroleum Resources.

However, President Tinubu, in an apparent tradition of his predecessor, ex-President Muhammadu Buhari, kept the position of the substantive Minister of Petroleum Resources to himself.

CBN Act amendment

Sanusi also called for a proper audit of the Nigerian National Petroleum Company Limited to unravel the country’s daily oil production, export and the accrued revenue, noting that this call was what cost him his job at the apex bank.

He maintained that the banking sector must shore up its trust deficit in the eyes of the public and that there is no need to amend the CBN Act to keep the apex bank free of political influences.

Advertisement

He stated, “It is important to talk about the current conversation emanating especially from the National Assembly, to amend the Central Bank Act. Let me add my voice to those who have said there is nothing wrong with the Central Bank of Nigeria Act. There is nothing wrong with BOFIA. The CBN Act is one of the best central banking laws in the world. In fact when we reviewed central bank laws, the only laws we saw that we would learn a few things from was Bank Negara of Malaysia.

“Now if people who are supposed to implement a law don’t implement it, the solution is not to change the law, and this reaction is kneejerk if you take away the independence of the central bank and bring it under political control. You would hurt the system and on long-term, you are institutionalising the lack of autonomy. The reality is, you have an independent autonomous central bank whose independence was undermined by a combination of politicians and central bank actors. It is time to go back to what the central bank is supposed to do and implement the law.”

NNPC replies Sanusi

Meanwhile, the NNPC said it was focused at the moment on delivering the task that had been set for the national oil company, stressing that everyone was free to air their opinion.

NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, told one of our correspondent that there would be no need for an official response to the claims made by the ex-CBN boss.

Advertisement

He explained that constant responses could hinder the enormous task before the oil company, adding that NNPC would rather concentrate in handling the work that it was established to deliver.

“Everyone is entitled to their opinion. Constant responses to every individual can hinder our work. Our focus remains on delivering energy security, managing ongoing projects, and implementing reforms,” Soneye stated.

PUNCH
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Use only official passport, visa websites, NIS tells Nigerians, foreigners

Published

on

Maduka University
The Nigeria Immigration Service has warned Nigerians and foreigners to use only its official online platforms for passport and visa applications, stressing that it has not authorised any religious organisation, private entity or individual to collect payments on its behalf.

The Service stated this in a statement posted on its official X handle on Wednesday.

According to the NIS, the only authorised platform for passport payments by Nigerians, both within the country and in the diaspora, is its official passport portal.

It added that foreigners seeking Nigerian visas should use only its official visa portal for embassy applications or the designated e-visa portal for electronic visa applications.

It said, “The Nigeria Immigration Service wishes to reiterate that the only authorised platforms for passport payments for Nigerians (at home and in diaspora) is https://passport.immigration.gov.ng.

Advertisement

“For foreigners wishing to apply for visa, https://visa.immigration.gov.ng (for visa at the Embassy) and https://evisa.immigration.gov.ng (for e-visa) are the official links.

“At no time has the Service partnered with or authorised any religious organisation, private entity or individual to act as intermediary or receiving account on its behalf,” the statement read.

The NIS urged applicants who require clarification or assistance with passport or visa applications to contact its verified communication channels.

It listed its official X accounts as @nigimmigration and @InquireAtNaija, while its verified Facebook and Instagram handles are @nigimmigration.

The Service also provided WhatsApp numbers 09160878000 and 09117717772 for enquiries and support.

Advertisement

The statement reiterated the Service’s commitment to ensuring secure and transparent passport and visa application processes, urging the public to avoid fraudulent intermediaries.

Continue Reading

News

US to stop routine visa processing at Abuja embassy, 24 other African missions

Published

on

Maduka University
The United States has announced that routine visa processing at its embassy in Abuja and 24 other diplomatic missions across Africa will end from August 1, 2026, as part of a broader restructuring of its overseas consular operations.

The US Department of State said the move is aimed at centralising routine visa services in regional hubs to enhance national security, reduce government spending, and ensure greater consistency in visa screening, vetting and adjudication.

In a statement on the US Department of State website on Wednesday, the department said the reorganisation aligns with the President Donald Trump’s administration’s priority of placing America’s interests and security first.

“The Department of State is constantly evaluating its overseas operations in order to advance America’s priorities as efficiently and effectively as possible. This includes a visa process that maintains rigorous standards of security screening and vetting and aligns resources and operational capacity with America’s national interests.

“The Trump administration has no higher priority than the safety and security of Americans, and the State Department will continue to provide Americans with appropriate consular services and assistance at diplomatic posts around the world,” the statement read.

Advertisement

Besides Abuja, the affected diplomatic posts are located in Asmara, Bamako, Banjul, Brazzaville, Bujumbura, Conakry, Cotonou, Durban, Freetown, Gaborone, Harare, Juba, Libreville, Lilongwe, Lusaka, Maputo, Maseru, Mbabane, N’Djamena, Niamey, Nouakchott, Ouagadougou and Windhoek.

The State Department, however, clarified that the change affects only routine visa processing and does not alter the operational status of the embassies and consulates involved.

It also emphasised that all diplomatic missions will continue to provide consular services and carry out their regular functions on behalf of the United States.

The department further assured travellers that the policy does not invalidate visas that have already been issued.

The United States periodically reviews its global diplomatic operations to reallocate resources and streamline consular services.

Advertisement

Under the new arrangement, applicants in countries affected by the policy are expected to access routine visa services through designated regional processing hubs, while embassies and consulates continue to provide other diplomatic and consular assistance.

Continue Reading

News

Mother of Six Allegedly Raped, Tortured, Abandoned in ‘Evil Forest’ in Enugu

Published

on

Maduka University

The Women’s Aid Collective (WACOL) has condemned the alleged rape, severe domestic violence, mob torture and attempted murder of a 34-year-old mother of six in Aninri Local Government Area of Enugu State.
WACOL, in a statement signed by its Senior Communication Officer, Ezugwu Bethel, said it received the reports with “profound shock, outrage and deep sorrow,” describing the incident as a gross violation of human dignity, fundamental human rights and the Violence Against Persons Prohibition (VAPP) Law 2019 of Enugu State.
According to the organisation, the survivor had allegedly endured years of domestic violence at the hands of her husband, who reportedly physically assaulted her and her mother.
WACOL said the woman, in an attempt to escape the abuse, rented a separate apartment, but her husband allegedly tracked her down and attacked her on the night of July 17, forcing her to flee to her mother’s residence.
The organisation alleged that the husband followed her there and threatened to kill her if she remained, forcing her to seek refuge with a male palm kernel trader.
According to WACOL, because the trader was married, he took the woman to a friend’s house for temporary shelter. However, the organisation alleged that the friend and another resident connived to restrain the trader and raped the woman.
WACOL further alleged that the attackers subsequently locked the woman and the trader inside the house before informing her husband of their whereabouts.
The organisation claimed that the husband arrived with a mob, broke down the door and allegedly subjected the woman and the trader to severe physical abuse.
It alleged that the husband publicly raped the woman while members of the mob restrained the trader, who had reportedly attempted to help her.
WACOL further alleged that the husband took the woman’s money, used it to buy drinks for youths and other members of the community, and allegedly incited them to attack the woman and the trader.
The organisation said the mob stripped the two victims naked, spat on them and beat them severely. It further alleged that some female members of the mob used broken bottles to shave the woman’s hair, while the victims were also allegedly inflicted with multiple cutlass wounds.
According to WACOL, the severely injured woman was subsequently dragged into an “evil forest” and abandoned.
The organisation said the woman spent three days in the forest before, despite her injuries, crawling to the main road, where she was discovered by Good Samaritans who contacted her sister and facilitated her rescue.
WACOL said the survivor is currently receiving medical treatment at a police clinic while remaining in hiding for fear of further attacks.
The organisation also raised concerns over the whereabouts of the male palm kernel trader, who was allegedly tortured alongside the survivor, saying his current location remains unknown.
WACOL said the police had arrested the woman’s husband and some female accomplices, but alleged that several other suspects remained at large.
The organisation also expressed concern over alleged interference by community leaders, claiming that the traditional ruler and President General of the community had banished the survivor and her family after they reported the incident to the police.
WACOL described the alleged banishment as victim-blaming and an abuse of power, adding that the community leaders must be held accountable if found to have obstructed justice or aided criminal suspects.
The organisation commended the Enugu State Police Command for its intervention but called on the Commissioner of Police to ensure that all fleeing suspects are arrested and prosecuted.
WACOL also demanded an immediate search and rescue or recovery operation for the missing palm kernel trader.
It further called on the Enugu State Government and the Ministry of Chieftaincy Matters to investigate the alleged roles of the traditional ruler and President General, while demanding adequate security for the survivor, her sister and other family members.
WACOL said its legal and psychosocial teams had been activated to support the survivor in her recovery and pursuit of justice.
The organisation called on Nigerians, human rights groups and the media to join the campaign for justice for the mother of six.

Continue Reading

News

Bishop Oyedepo to Youths: ‘9jabet Won’t Make You Rich; Better Wake Up’

Published

on

Maduka University

Founder of Living Faith Church Worldwide, Bishop David Oyedepo, has warned Nigerian youths against depending on sports betting as a pathway to wealth, saying lasting success can only be achieved through hard work, patience and integrity.

Speaking during a message to members of his congregation, the cleric described betting as a dangerous distraction capable of destroying the future of young people and preventing them from fulfilling their God-given potential.

Oyedepo urged youths to resist the growing temptation of seeking quick riches through gambling, stressing that genuine prosperity is built on diligence, discipline and purposeful living.

“Young people, 9jabet is not the way to financial fortune. Stop wasting your destiny,” he declared.

He emphasised that although the journey to success may sometimes appear slow, honest labour and consistency ultimately produce more enduring rewards than relying on luck or shortcuts.
“It may be slow, but it’s sure,” he added.

Advertisement

The bishop also reflected on his personal life, recalling how his mother’s unwavering faith influenced his decision to become a Christian at the age of 15.

He recounted how he later expressed his gratitude by buying her a car while she was living in the United States, describing the gift as one that brought her immense joy before her passing at the age of 92.

Using the experience to encourage young people, Oyedepo urged them to embrace faith, perseverance and gratitude instead of pursuing instant wealth through betting.

He concluded his message by urging Nigerian youths to rethink their priorities and make choices that would guarantee a brighter future.

“You better wake up,” he said.

Advertisement
Continue Reading

News

Failed Trip: Nigerian woman dies of cardiac arrest during UK visit

Published

on

Maduka University

Family members have launched a fundraising campaign to repatriate the remains of a Nigerian woman, Christiana Nwosu, who reportedly died of cardiac arrest while visiting the United Kingdom.

The information came on Monday from a GoFundMe appeal signed by Chijioke Metuka on behalf of the Nwosu family.

According to Metuka, Nwosu died on July 19, 2026, leaving her children and loved ones devastated by the sudden loss.

Metuka described the deceased as “a beacon of light, love and warmth” whose passing had created an irreplaceable void in the lives of those who knew her.

The family said its greatest wish was to honour her memory by returning her body to Nigeria for burial, where she would be laid to rest among her extended family and ancestral roots.

Advertisement

The appeal read, “During this time of immense grief, Izuchukwu and his family’s deepest wish is to honour her memory by laying her to rest in her homeland of Nigeria, surrounded by her extended family and roots.

“Repatriating a loved one from the UK to Nigeria comes with significant and unexpected financial burdens.”

However, the family noted that repatriating her remains from the UK would cost about £10,000, covering funeral director fees, specialist repatriation services and documentation, air freight charges, transportation, and funeral and burial expenses in Nigeria.

“We have set up this fund to support Izuchukwu and his family during this incredibly difficult time. Every single donation, no matter the size, will go directly towards covering these repatriation and funeral expenses to help ease the financial strain on the family,” the appeal read.

The organisers appealed to members of the public to support the family through donations or by sharing the fundraising campaign with others.

Advertisement

“If you are unable to donate, please consider sharing this page with others and keeping Izuchukwu and his family in your thoughts and prayers.

“Thank you from the bottom of our hearts for your kindness, generosity and support,” the statement added.

As of the time of filing this report, a sum of £7,941 had been raised out of the £10,000 target.

In February a Nigerian woman, Oluranti Akinyemi, died in the UK shortly after arriving in the country for her son’s graduation ceremony.

Her family had launched a fundraising campaign on JustGiving to raise £20,000 to repatriate her remains to Nigeria and cover related expenses.

Advertisement
Continue Reading
Advertisement

Trending