Villeworth Security Services Ltd

week 25

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PORT HARCOURT AND ENVIRONS

Russian, Chinese Oil Firms Jostle for Ogoni

Russian oil giant, Gazprom, and many other Chinese firms are jostling to replace Royal Dutch Shell in Ogoniland following Federal Government’s decision to award the oil fields to another company. Meanwhile Shell planning to farm out the fields to Addax Petroleum to prove that they are not dormant.

Militants Attack Shell’s Bonga Field

Nigeria’s biggest offshore facility, Shell’s Bonga field, was shut down on Thursday following an attack by militants. Offshore facilities are hitherto thought to be safe from militant attacks. The militants, numbering about 20, also kidnapped a United States citizen, Captain Jack Stone. Stone was, however, released at about 5 pm same day unconditionally. The Movement for the Emancipation of the Niger Delta (MEND) has claimed responsibility for the attack and threatened more attacks, warning all the oil majors operating in the country to evacuate their expatriate staff from the oil fields, until the issues in the region are addressed.

No Reprisal Attack on Nigerians, Says Cameroon

Cameroon authorities have disputed Nigerian reports that Nigerians were killed by Cameroon Gendarmes last week, to avenge the killing of six divisional officers, of Combo Abidimo (Cameroon) saying the North Bakassi zone was already deserted when Cameroonian security forces arrived there.

Octogenarian Kidnapped in Anambra

An 80-year old man, Mr. Jacob Nkworji, has been kidnapped in Anambra state. Nkworji was kidnapped on his way from a ''Father's Day'' service penultimate Sunday. It was gathered that the kidnappers had contacted one of his daughters and demanded N120 million as ransom.

Group Wants Govt To Focus On Inland Basins For Gas

The Nigerian Gas Association (NGA) has urged the FG to focus on three oil and gas basins in the country to enable it meet the ever-increasing natural gas requirement for the overall development of the country. Specifically, the government is being asked to direct investors to explore and produce natural gas in these inland basins of Chad, Benue and Anambra, where all exploratory activities carried out between 1970s and 1990s resulted in gas discovery in most of the wells drilled.

Gunmen Bomb Royal Father's Palace In Rivers

One man was killed when over 20 gunmen attacked and bombed the palace of the paramount ruler of Finima, Bonny LG, Rivers State, at the weekend. Scores of houses and vehicles were also vandalised while shops were looted.

Gas: A’Ibom Signs $12bn Pact With Consortium

The Akwa Ibom State Government has signed a Memorandum of Understanding for the development of a $12bn gas plant with a consortium of firms. Akpabio expressed happiness to the consortium for its readiness to develop the abundant gas resources in the state, describing it as a remarkable progress.

Why Niger Delta Summit Must Hold

Despite opposition in some quarters to the coming Niger Delta Summit, Rivers State Governor, Chibuike Rotimi Amaechi, Monday, assured that leaders from the region would fully participate in the forum in order to directly engage the Federal Government on the problems of development in the area through dialogue.

JTF Raids Militant's Residence in Rivers

The Joint Task Force (JTF) in Rivers State, Thursday, raided the residence of a wanted gang leader, Soboma George, but he was said to have escaped by the whiskers.  The JTF his residence at 4am, following intelligence report about his presence. He was alleged to have been moving surreptitiously within Port Harcourt.

18 Die In C-River Auto Crash

No fewer than 18 people were killed and scores injured, Thursday, when a fully loaded petrol tanker crushed three vehicles at the foot of the Okpokim Bridge, along the Cross River State-end of the Calabar – Itu Highway. Sources said that the accident occurred when two buses, a Mercedes Benz car and tanker were trying to avoid the menacing convoy, allegedly of Akwa Ibom State governor who was racing to Calabar.

27 Jailed For Human Trafficking

The National Agency for the Prohibition of Traffic in Persons and Other Related Matters (NAPTIP) has jailed 27 persons so far in different parts of the country for trafficking in human beings. Director in charge of Investigation and Monitoring, Mohammed Babandede, disclosed in Cross Rivers State that the agency was determined to reduce the ignoble trade to the barest minimum.

Gunmen Assassinate Amakpe Refinery Official

Unidentified gunmen on Sunday assassinated Mr. Edemekon Inyang-Akpan, an official of Amakpe Refinery, a private company, in Eket, Akwa Ibom State. Inyang-Akpan, until his death, was handling sensitive projects at the refinery site. Police sources in Eket confirmed the story but said no arrest had been made.

130 Multi Nationals Now Operate In Onne Free Zone

Onne Oil and Gas Free Zone Authority in Rivers State has so far licensed over 130 multi national investors offering over 30,000 Nigerians job opportunities, Noble Abe, managing director (MD), Free Zone Authority, disclosed last week.

Shell: We’ll Remain Shareholders in Ogoniland
...Rules out suing FG over revocation

Royal Dutch Shell said on Tuesday that it would remain a shareholder in Ogoniland operations even if the Nigerian National Petroleum Corporation (NNPC), also Shell's joint venture partner, becomes the operator of the oil fields.

Robbery Suspect Escapes From Courtroom

A robbery suspect, Tuesday, escaped from the court room in Enugu state, after he entered the courtroom in company of an unarmed warder. He pretended that he wanted to ease himself and as he was being escorted outside the courtroom by the warder; he suddenly took to his heels. The warder pursued the fleeing suspect, and caught up with him, but he (the warder) was overpowered.

Kidnappers of Adamac’s Father Demand Ransom

Kidnappers of the father of the Chief executive Officer (COE) of Adamac Group of Companies, Mr. Henry Mac- Pepple, are now asking the family to pay the sum of N350million for the release of their octogenarian father, Senibo Festus Mac- Pepple. The yet to be identified group is also demanding that the multi billion naira business magnet pay his staff the several months of salary arrears owed them.

Sekibo Calls for Judicial Inquiry on Rivers Crisis

One time Minister of Transport, Dr. Abiye Sekibo, has called for the setting up of a full judicial panel of inquiry, which he said, would have the powers to give appropriate sanctions, as he alleged on Wednesday that most Nigerian leaders are cult members.

A/Ibom Police Command Dislodges Inter-State Robbery Gang, Kills One

The Akwa Ibom State police command has gunned down a member of a four-man robbery gang which specialises in snatching vehicles during a shoot out with the suspects. One of the suspects, who gave his name as Inyeng Peter, denied being an armed robber. He said he was on his way to Calabar when the snatched car pulled up close to him and offered to give him a ride.

Bakassi Resettlement Committee Demands N6bn

As Nigeria finally pulls out of the Bakassi Peninsula on August 30, the Reconstituted Committee on the Resettlement of Displaced Nigerians from Bakassi, has called on the Federal Government to make available N6 billion for the resettlement of the people in the area.

Ibigwe Oil Field Commences Production

C and I Leasing Plc at the weekend said its investment in a unique Build-Operate and Transfer (BOT) lease arrangement for pipeline to link the Imo State-based Ibigwe field facilities has commenced production.

BENIN/WARRI/ESCRAVOS

Warri Refinery To Undergo Upgrading, Expansion Process

In a move aimed at consolidating the local content policy of the Federal Government, the Warri Refinery and Petrochemical Company (WRPC) is to undergo phased upgrading and expansion processes. This, according to the management, would enable the refinery to substantially displace importation of white products into the country by meeting local fuel demand.

Shell Explains Non-Appearance Before Delta Assembly

Determined to mend fences with Delta State House of Assembly, Shell Petroleum Development Company (SPDC) has given reasons for failure to put in an appearance last Wednesday when it was summoned to appear before the house to explain the reason for the recent mass sack of workers. Shell's spokesman, Mr. Precious Okolobo, explained that the letter from the Delta State House of Assembly inviting the oil them arrived late on the date due and thus they were not prepared.

Criminals, Killers Take Over Asaba

Peace and security, one of the three point agenda of the Delta state Government, has suffered a major set back as hoodlums and kidnappers have taken over Asaba and its environs. The activities of hoodlums and kidnappers had gained prominence in recent times even in the broad day light. Residents in Asaba, Wednesday, woke up to find the decomposing body of one Mr. Samuel Onyemene in an uncompleted building. The late Samuel was declared missing by the police five days ago.

N’Delta Youths Withdraw From Peace Talks With FG

Ijaw youth leaders on Saturday withdrew from further talks with the FG after a meeting in Delta State, even as they gave conditions for their participation in the planned Niger Delta Summit. Among the terms are – that the government to meet all previous agreements, the release of over N300bn due to the Niger Delta Development Commission and the release of the leader of the Movement for the Emancipation of Niger Delta, Henry Okah. Meanwhile, multinational companies in the region are alleged to be worried over the recent withdrawal as it signals continued crisis.

Protest over N-Delta summit: Militants Bomb NNPC Pipeline

Ijaw militants from Egbema, on Monday, said they bombed an NNPC pipeline, supplying crude oil to the Kaduna Refinery in Ovia North East LGA of Edo State, weekend, because of the insistence of the FG to go ahead with the planned summit on the Niger-Delta with the former External Affairs Minister Professor Ibrahim Gambari, as the chairman against the wish of the people of the region.

Nigeria’s Oil & Gas Sector Witnesses Inflow of Investments in Spite Crisis

As oil and gas companies workers are being kidnapped, with oil companies closing oil fields and withdrawing expatriate staff, more investments are still flowing into the country’s oil and gas sector, according to recent survey.

Govt Pledges Amnesty For N'Delta Militants

In its quest for lasting peace in the Niger Delta, the Presidency, Tuesday, pledged amnesty to militants who desire to lay down their arms.

Ondo Appeals Loss Of 260 Oil Wells To Delta

Following the verdict of the Federal High Court sitting in Benin, Edo State, which returned 260 oil wells earlier ceded to Ondo State to Delta State, the Ondo State Government has filed an appeal against the judgment. The government filed a stay of proceeding against the implementation of the verdict.

LAGOS AND ENVIRONS

Ogun, Shell In Maximise Benefits Of Natural Gas

Determined to meet the economic development aspirations of the people of Ogun State, the state government has stated its readiness to work with Shell Nigeria Gas Limited to increase access to and utilisation of natural gas for industrial commercial and other purposes in the state.

Fire Guts NPA Headquarters

A wing of the sixth floor of the headquarters of the Nigerian Ports Authority (NPA) at Marina, Lagos was on Thursday gutted by fire. The fire was quickly put off by the combined efforts of fire agencies. There was no human casualty. Inquiry into the cause of the fire has started.

Fleeing Robbers Abandon Weapons

The Lagos State police command has recovered about 6,000 ammunition and four guns abandoned in a gutter by some fleeing hoodlums. The Police were said to have received a tip-off that some bandits were about to operate at Agbeni Street and went after them. The bandits immediately abandoned their weapons and fled.

Parents Arraigned For Child Neglect

For abandoning their responsibilities to their 14-year-old son, Femi Oladitan, his divorced parents – Mr Oladele Oladitan (39) and his estranged wife, Mrs Silifat Adeleke, have been arraigned in court. They were arraigned, following the arrest of Femi by the police for allegedly stealing a mobile phone. Femi claimed to suffer deprivations as a result of his parents’ separation, and had to engage in crime.

10 Die, 20 Hospitalized After Beans Soup

About 10 persons died while 20 others were hospitalized after eating a bean soup delicacy ‘gbegiri’ and ‘amala’ at a burial ceremony in Ede, Osun state on Sunday. Speaker of the State House of Assembly, Mr Adejare Bello, said he has mobilised the state Commissioner for Health and other medical personnel to Ede.

Explosion: Ijegun Community Wants N97bn Compensation

The residents of Ijegun, a suburb of Lagos, on Tuesday demanded N97bn from the four organisations allegedly responsible for the pipeline explosion in the area recently. The affected organisations are the construction company whose bulldozer burst the pipeline, Hytec Nigeria Limited; the Lagos State Government, the Nigerian National Petroleum Corporation and Petroleum and Pipelines and Marketing Company.

Police Arrest 3 Over Diversion Of N15m Milk
…15 Suspected Criminals Arrested In Ogun

The Lagos State police command has arrested a three-man gang which specialised in the diversion of imported containers at the Lagos Ports in Apapa for diverting raw milk belonging to the West African Milk Company Ltd., valued at N15 million. The suspects (names withheld) were said to have taken the truck containing the milk to a warehouse at Ikorodu. Also, about 15 persons have been arrested by the police in Ogun State during a raid on a criminals’ hideout at Old Garage in Sango-Ota area of the state

Ondo College Students On Rampage - Over Killing Of Colleagues

Hundreds of students of the Adeyemi College of Education, Ondo, on Wednesday went on rampage to protest the alleged killings of their colleagues by commercial bus driver in front of the college campus. It was gathered that a commercial vehicle had hit six of the students and two of them were said to have died, while the rest sustained injuries. The Students Union president, Mr. Tolulope Osanyintade, told journalists that many of the students of the school had been knocked down and killed by reckless drivers in front of the school.

GENERAL

US Intensifies Moves to Force down Oil Price

President George W Bush of the United States has called on the American Congress to end a 27-year ban on drilling for oil in coastal waters. This, he said, would reduce dependence on imports as existing restrictions on offshore drilling were "outdated and counter-productive".

EFCC Arrests Kenny Martins, Dumuje

Police Equipment Foundation (PEF) coordinator Chief Kenny Martins and his deputy, Ibrahim Dumuje returned to custody on Wednesday, following their re-arrest by the Economic and Financial Crimes Commission (EFCC). They were rearrested over the alleged mismanagement of about N50 billion of PEF revenue.

Police, Civil Defence Clash In Maiduguri

Maiduguri, the Borno State capital, was thrown into confusion on Wednesday following a clash between policemen at the Dandal Police Station and officers of the Civil Defence Corps, which has left unspecified number of casualties on its trail. Teargas in the area worsened the conditions of patients at the State Specialist Hospital in the area. The reasons for the clash is yet to be ascertained

Robbery: IG Parades 6 Suspects

The Inspector General of Police, Mr. Mike Okiro on Thursday paraded six suspects, three of whom were arrested for allegedly being part of an armed gang that robbed a bullion van in River state and the rest for kidnapping the wife of a politician.

U.S. May Sanction Nigeria, Seven Others Over Oil Price

Nigeria is in for sanctions if the United States takes a step its lawmakers have proposed against the Organisation of Petroleum Exporting Countries (OPEC). As the price of petrol and energy continues to rise, 11 Senators have sponsored a Bill authorising President George Bush to file a complaint with the World Trade Organisation (WTO) against eight members of the OPEC for violating trade rules by colluding to hold down global oil supplies.

Robbery: Police Arrest Gang Member

The police in the border town of Mubi in Adamawa State have arrested a member of a robbery gang terrorising travellers on the Mubi-Manawachi road. The robbers struck on Wednesday and dispossessed motorists and passengers of their money and valuables.

NDLEA Destroys Drugs Worth N395bn

The National Drug Law Enforcement Agency on Tuesday said it had destroyed illicit drugs worth N395bn in the past six months.

House C’ttee Okays Zenon’s Acquisition of AP Shares

A report by the House of Representatives Committee on Privatization and Commercialization has described the acquisition of majority shares of African Petroleum (AP) by Zenon Petroleum and Gas as transparent. The report also recommended the constitution of a Judicial Commission of Inquiry to find a solution to the problem that resulted from the sale of the shares

Oil Production: Angola Beats Nigeria Again

For the second consecutive month, Angola has beaten Nigeria to emerge Africa’s highest oil producing nation. May, 2008 production figures showed that Nigeria produced 1.89 million barrels per day while Angola produced 1.90 million barrels per day during the period under review.

62 Feared Dead In China Rains

Another tragedy has hit China just a few weeks after an earthquake killed thousands in the country. The torrential rains in southern and eastern China, which occurred penultimate weekend, left at least 62 people dead or missing, while more than one million residents were evacuated.

Gulf of Guinea: Britain, Nigeria Meet on Security

Naval officers from the British Royal Navy and its Nigerian counterpart during a security seminar resolved that the Gulf of Guinea needs proper protection. British  High Commission’s  Defence  Attaché  in Nigeria, Colonel Nick Pele,  described the seminar as an attempt to build the  Nigerian Navy’s capabilities as leaders in the ECOWAS  sub-region, and  leaders in  the African  Union in peace -keeping.

Woman, 30, Arraigned For Cutting Boy’s Penis

A 30-year-old woman, Hadiza Gambo, has appeared before a Kaduna Chief Magistrate’s Court for allegedly cutting a boy‘s penis. Gambo allegedly used a razor to cut the child‘s (Shafiu Gambo) penis and other parts of the body, after which she beat and pushed him thereby causing a compound fracture on his leg.''

S/Africa Mob Burns Mozambican Man

A Mozambican man has been burned alive by a mob during disturbances near the South African capital Pretoria on Saturday.  The 30-year-old was stoned, before being set ablaze after being accused of an arson attack on a shack the day before, said police. Three suspects were held for murder and robbery, police said.

FG to Complete Mambilla, Zungeru Power Projects with $1.5bn

The Federal Government has resolved to independently finance the completion of the Mambilla and Zungeru power projects with $1.5bn (N178.5bn). The projects, which have been in the pipeline for years, will add over 3000 megawatts to the national grid through the use of hydro plants. This is coming as the three tiers of government agreed to pump $5.375bn (N639.625bn) into the power sector.

Pepple Takes Over as Head of Service

President Umaru Musa Yar’Adua has confirmed the appointment of Ms Ama Inyingiala Pepple as the new Head of the Civil Service of the Federation. Pepple replaced Mrs. Ebele Okeke who retired on attainment of the mandatory 60 years of age on June 14.

Customs Wants Security Agencies at Ports Reduced

Comptroller-General of the Nigeria Customs Service (NCS), Mr Hamman Ahmed, has advised the Federal Government to reduce the number of security agencies at the ports as he said that the duplication of duties by security agencies at the ports was partly responsible for the inability to clear goods within 48 hours.

Over 70% Nigerians Live Below Poverty Level

The Federal Government, Monday, disclosed that over 70 percent of Nigerians live below poverty level, saying this had led to the establishment of the Millennium Development Goals (MDGs) unconditional grants. Senior Special Assistant to the President on MDGs, Hajia Amina Ibrahim, said the government has set up the fund to give the people the necessities of life so that they could live a whole good life.

Yar’Adua Probes 2005 Oil Licensing Round
...Suspends DPR director, Chukwueke

President Yar’Adua has directed the Director of the Department for Petroleum Resources (DPR), Mr. Tony Chukwueke, to proceed on compulsory leave to avoid interference with the ongoing investigation into the award of oil blocks by the DPR. The Federal Government has also ordered the review of the 2005 bid round, with a view to ascertaining whether due process was followed or not.

Police Promote Three AIGs, 61 Others

The Police Service Commission has approved the promotion of 64 senior police officers. The beneficiaries include three Assistant Inspectors General of Police and four Commissioners of Police. Further breakdown of the promotion shows that 23 Deputy Commissioners and 34 Assistant Commissioners were also promoted.

World Bank Pledges To Develop Airport Facilities

Infrastructural decay at the nation's airports may be a thing of the past as the World Bank has assured that the execution of all such projects would be intensified to ensure safety. The World Bank has agreed to help upgrade safety equipment at the nation's airports with $46.65 million.

Electricity Workers Vow To Resist Power Sector Emergency

Electricity workers have faulted plans by President Yar’Adua to declare a state of emergency in the power sector, insisting that they would resist the policy. The workers decried attempts by successive governments to provide solutions to Nigeria’s epileptic power supply without seeking the input of workers and other professionals in the sector.

FG in Dilemma Over Fate Of Nigerians On Death Row Abroad

Foreign Affairs Minister, Ojo Maduekwe, said that following appeals by Nigerians for national intervention on the fate of the frightening population of Nigerians on death row in foreign countries, and in view of the nation’s policy on citizenship diplomacy, the Government had explored the possibilities of its intervention but was being careful not to bring itself into ridicule and disrepute in its attempt to secure freedom for the convicts.

No More Coups in Nigeria-Chief of Army Staff

Lt.-Gen Luka Yusuf, the Chief of Army Staff, says there will no longer be any military coup in Nigeria because the military has been professionalized. Yusuf said the military was determined to carry out its duty of protecting Nigerians and the territorial integrity of the country.

Suicide Bomber Kills 12 Policemen, Injures 20

At least 12 policemen were killed and more than 20 people injured in a suicide bomb attack by Tamil Tiger rebels in the northern Sri Lankan town on Monday, defence officials said. Officials from the Ministry of Defence said a suicide bomber riding a motorcycle blew himself in front of the Senior Superintendent of Police office complex in Vavuniya around 7:10 a.m. (0140 GMT) local time.

40,125 Inmates in Nigerian Prisons – NPS

Spokesman of the Nigerian Prisons Service, Mr Odeyemi Kayode, has said Nigeria prisons have 40,125 inmates. According to him, the Service has about 420 children in the Juvenile Borstal Institutions, which are located at Ilorin, Kaduna and Lagos.

Kaduna Police Smash Car-Snatching Syndicate

The Police in Kaduna said on Monday that it had smashed syndicate believed to be specialist in car-snatching.  Mr Adams Audu, the acting Commissioner, said that 13 stolen vehicles believed to be stolen property were recovered from the suspects.

Fake Currency Dealers In Police Net

Six suspects are in the custody of the police in Lagos for allegedly trading in fake currencies. The leader of the group, Idiakhoa said that their targets were those in need of foreign currencies.

Senate Moves to Scrap Excess Crude Account

The senate has announced its intention to push a proposal for the scrapping of the controversial Excess Crude Account. The Senate wants the excess crude fund channelled into the Consolidated Revenue Fund (CRF) of the Federation. Meanwhile, President Yar’Adua, Tuesday, sent a new revenue sharing formula proposal to the Senate, which gives the Federal Government 53.69 per cent, State 31.1 per cent and LGs 15.21 per cent. The current formula gives the FG 52.68 per cent, states 26.72 per cent and councils 20.60 per cent.

Energy Sector Reform Report: Committee Awaits FG's Directive To Implement

The two committees constituted by the Federal Government in the early life of the present administration to work out modalities for the reform of the nation's energy sector say they have completed their assignments and are waiting for a formal directive by the Federal Executive Council (FEC) to commence the implementation of their findings and recommendations.

Due Process Not Followed In Lifting Crude Oil - Reps Panel

House of Representatives ad hoc committee investigating the activities of the Nigerian National Petroleum Corporation (NNPC) and its subsidiary as well as the Department of Petroleum Resources (DPR) said on Tuesday that due process was not followed by the administration of former President Olusegun Obasanjo in the lifting of crude oil between 1999 and 2004.

DPR Quarantines 20m Litres Of Petrol As FG Insists On Zero Ethanol Level

Five vessels each laden with 15,000 metric tonnes (about 20 million litres) of premium motor spirit (PMS) also known as petrol are being held on the high seas pending when the Department of Petroleum Resources (DPR) secures clearance from the Federal Government for them to discharge their products, following a directive on zero ethanol in products shipped in. Consequently, importers of the consignment are incurring demurrage of $15,000 each vessel per day.

Stray Bullet Kills 14-Year-Old

Master Abubakar Onifade, an SS II student of Hilltop Model School Minna, was on Sunday killed by a stray bullet when the police clashed with some miscreants. The incident occurred during a violent clash between the police and the miscreants allegedly terrorising the residents. Mrs. Sheyin Onifade, the deceased’s mother, confirmed the death of her son, saying the deceased was inside the house watching a programme when the incident happened.

World Oil Prices Jump To $137bp

World oil prices jumped to 137 dollars a barrel on Thursday, after a militant attack slashed output in Nigeria. Prices later fell, however, as dealers banked profits.

Excess Crude: NEC Okays Release of N1.2tr
•Govs seek role in power emergency

The National Economic Council (NEC) on Thursday approved the release of N1.2 trillion from the excess crude account for the power sector and sharing by states and local governments.

EFCC Gets New Spokesman

Economic and Financial Crimes Commission (EFCC) has appointed a new spokesman.
He is Femi Babafemi, who until his appointment was a Deputy News Editor with The Sun newspaper.

FG Predicts $11bn Earning From Crude Oil 2008

The Federal Government on Thursday predicted that the nation’s revenue accruing from crude oil export will hit the $11 billion mark by the end of 2008.

Ports' Concessionaires May Lose Licences

The Federal Government may soon clamp down on concessionaires who have failed to develop facilities which they met when ports were concessioned to them during the privatization programme two years ago. President Yar'Adua dropped this hint when he commissioned the new AP Moellar container facilities in Apapa, Thursday.

Japanese Firm Invents Water-Powered Vehicles

Ordinary water may soon displace petroleum as fuel in vehicles if claims by a Japanese firm, Genepax, are anything to go by. Genepax has announced that it has invented a fuel cell system that uses water to obtain hydrogen. And the water can be from any source.  It has made public two devices, a 120 W fuel cell stack and a 300 W fuel cell system that powered what it identified as "REVA-based minicar."

Downstream Oil Firm, BECO, Acquires Two Offshore Vessels, To Raise N7b

A major player in the downstream sector, BECO Petroleum Products Limited, has acquired two offshore vessels aimed at boosting its operations across the country. The two vessels, with a combined capacity of 15 million litres of refined petroleum products, are expected to serve the company in its fuel importation bid and service its numerous customers along the coastal areas of Nigeria.

PEF: EFCC Orders Return of Monies, Vehicles

The Economic and Financial Crimes Commission (EFCC) on Thursday issued a seven-day ultimatum to individuals who received vehicles and money from the Police Equipment Fund (PEF) to return same, threatening that any failure to return same would result in their arrest and prosecution by the commission.