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Alleged N115m Fraud: Ex-SEC DG Gwarzo To Make No-Case Submission

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The suspended Director-General of the Securities and Exchange Commission, Dr. Mounir Gwarzo; and the Executive Commissioner, Zakwanu Garba, on Thursday informed an FCT High Court Maitama that they would make a no-case submission in the charge filed against them.

The duo were arraigned by the Independent Corrupt Practices and Other Related Offences Commission before Justice Husseini Baba-Yusuf, on five counts bordering on fraud.

The defendants, through their counsels, Abdulhakeem Mustapha (SAN); and Robert Emupkoeruo respectively, informed the court of their intention to file no-case submission.

This they prayed after the prosecuting counsel, Mr. Adesina Raheem, had informed the court that the prosecution was closing its case against the defendants with the testimony of the fifth prosecution witness (PW5), Taiwo Olorunyomi.

The defendants’ counsels stated that they were making the submission pursuant to Section 302 of the Administration of Criminal Justice Act (ACJA), 2015.

Earlier, while being cross examined by Mustapha, Olorunyomi told the court that the office of SEC executive commissioner and that of the D-G were different.

He stated that the President was to appoint the D-G based on recommendations of the minister (of Finance) and confirmed by the Senate.

According to him, a person could not occupy the offices of executive commissioner and D-G at the same time, adding that Gwarzo was an executive commissioner before May, 2015 when he was appointed SEC DG.

“He has spent two years (as executive commissioner) by the time he was appointed Director-General,” the witness said.

Olorunyomi, who said he had been an investigator since 2005, told the court that an investigator was supposed to critique all material evidence for or against a defendant under investigation.

He, however, said he was seeing Exhibit D9 shown to him for the first time in the court, saying that the six SEC officials who signed the document confirmed that the payment made to Gwarzo was correct.

The witness was asked by the senior advocate to read the political office holders affected by Certain Political Officer Holders Salaries and Emolument Act.

The witness stated that the Central Bank of Nigeria, Nigerian Ports Authority, Federal Inland Revenue Services (FIRS) and SEC were not listed in the Act.

While being cross examined by counsel for Garuba, Emupkoeruo, the witness stated that the team of investigators concluded that Exhibit ICPC 3 (extract from SEC Board meeting of July, 2002) was illegal.

According to him, “the major document we looked at, to conclude that it is illegal, is Exhibit ICPC 19 “(Certain Political Officer Holders Salaries and Emolument Act).”

He told the court that office of executive commissioner was for a fixed period of time, adding that when the first defendant left the office of executive commissioner that tenure came to an end.

After listening to their submission, Baba-Yusuf adjourned until March 18 for adoption of addresses on the no-case submission by the defendants.

The Premier newspaper reports that the ICPC accused Gwarzo of committing fraud to the tune of about N115m in June 2015, when he held forth as SEC Director-General.

It alleged that the suspended D-G received the sum of N104,851,154.94 as severance benefits when he had yet to retire, resign or disengage from the service of SEC.

It added that he conferred a corrupt advantage upon himself when he received the sum of N10,983,488.88 in excess of car grant payable to him.

Garuba, on the other hand, was accused by ICPC of allegedly conniving with Gwarzo to commit the fraud.

 

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NNPC E&P Ltd, NOSL Hit First Oil in OML 13, Akwa Ibom State

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NNPC E&P Ltd, NOSL Hit First Oil in OML 13, Akwa Ibom State

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

NNPC Exploration and Production Limited (NNPC E&P Ltd), NNPC Ltd’s flagship upstream subsidiary, and Natural Oilfield Services Ltd (NOSL), a subsidiary of Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO), announce the successful commencement of oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State, Nigeria.

The production, which commenced on the 6th of May 2024 with 6,000 barrels of oil is expected to be ramped up to 40,000 barrels per day by May 27th

, 2024.

The first oil flow from OML 13 is a historic milestone in the partnership between NNPC E&P Ltd and NOSL, highlighting their dedication to driving growth and development in Nigeria’s oil and gas sector, which remains a vital component of the nation’s economy.

The achievement does not only signify the culmination of rigorous planning and execution by the teams involved, but also represents a new era of economic empowerment and development opportunities for the host communities.

Furthermore, for Nigeria, the first oil from OML 13 holds some significance as it contributes to the country’s efforts to increase its oil production capacity, which is crucial for meeting domestic energy needs and driving economic growth.

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.

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NCDMB Exec Sec Visits Pipe Coating Firms, Pledges Support For Local Capacities

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NCDMB Exec Sec Visits Pipe Coating Firms, Pledges Support For Local Capacities

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Nigerian Content Development and Monitoring Board (NCDMB) has reassured stakeholders of the industry that oil and gas service companies that have established capacities in the country will continue to enjoy patronage through the award of contracts from operating companies in the industry.


The Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe made this commitment on Friday in Port Harcourt, Rivers State when he led officials of the Board and Shell Petroleum Development Company of Nigeria (SPDC) to visit companies that deliver pipe coating and related services.


The team visited Brightwaters Energy Limited, formerly known as Willbros Nigeria Ltd, Solewant Nigeria Limited and Pipe Coaters Nigeria, managed by Tenaris Nigeria Ltd.


The Executive Secretary said the visits were to assess the companies’ facilities and determine how the Board can galvanize the industry to patronise them.

He underscored the importance of getting first-hand information on in-country capabilities before making key decisions on oil and gas projects.

He insisted that operating companies must support and patronise local oil and gas service companies in compliance with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.


Ogbe emphasized that activities in the Nigerian oil and gas industry must be used to create employment opportunities for the nation’s teeming youths and help to resuscitate the economy, in line with the aspirations of President Ahmed Bola Tinubu.


The Chief Executive Officer of Brightwaters Energy Limited, Mr. Scott Gregory thanked the Executive Secretary for leading the visit while highlighting that Brightwaters, formerly Willbros carried out Nigeria’s first pipe coating in 1962.


He recalled that the facility had 3,000 employees some years back, executing various spheres of oil and gas projects. He conveyed the management’s aspiration to return the firm to those high-performance levels and sought the Board’s support to win oil and gas projects that would resuscitate the sprawling facility.

“We feel that we can be a positive contributor to Nigeria through the capacities that we have. We want to bring real, true value to the table,” he added. He admitted that the coating facility had suffered downtime, but assured that the plant would be up and running within 60 days of the award of a new contract.


The Chairman of Tenaris Nigeria, Dr. Ernest Nwapa welcomed the NCDMB’s team to PCNL’s facilities. He commended the efforts made by the agency to push local content in the industry, attributing it to the good culture that had been established at the Board over the years.


Nwapa, who was the pioneer Executive Secretary of NCDMB expressed delight that some of the oil and gas projects that had been pending for nearly ten years were now being developed and expressed hope that existing local capacities would be maximized in the execution of those projects.


The team was taken around the company’s facilities and shown the various equipment of PCNL in readiness for the award of new contracts. Nwapa pledged the commitment of the company to meet the expectations of clients as well as allow them to participate in the supervision of the work in their factory.


The PCNL facility covers an area of 160,000 m2 in the Onne Free Trade Zone. The company offers Anticorrosion, CWC, Thermal Insulation, Internal and Bends Coating plants as well as Double Jointing and Anode Installation Facilities.


At Solewant Group, an EPCI and Pipe Coating Company, the NCDMB delegation was shown round the company’s facilities as well as the new investments, such as the 5mega watts generators, procured to guarantee power supply to the facility.


Accompanying Engr. Ogbe on the facility visits were the Director Projects Certification and Authorization Division (PCAD), Engr. Abayomi Bamidele, General Manager PCAD, Engr. Maurice Iwhiwhu, Special Technical Assistant (STA) to the Executive Secretary, Engr. Mofe Megbele, Deputy Manager, Corporate Communications, Mr. Obinna Ezeobi, and other staff members of the Board.


The SPDC team was led by the General Manager, Nigerian Content Development, Mr. Lanre Olawuyi.

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Halilu Tasks NASENI Finance Managers On Effective Resource Management

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Halilu Tasks NASENI Finance Managers On Effective Resource Management

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Executive Vice Chairman and Chief Executive Officer (EVC/CEO), National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu has underscored the importance of effective resource management, emphasizing the Agency’s responsibility in administering public funds for the benefit of Nigeria.

L-R: Coordinating Director, Engineering Infrastructure Directorate, NASENI, Prof Bagudu Gwandangaji; Support Officer/NASEN Desk Officer, OAGF, Mr. Mustapha Marafa; Deputy Programme Manager, System Support and Sustainability Directorate, OAGF, Mr. Jeremiah Asanato; Executive Vice Chairman/CEO of NASENI, Mr. Khalil Suleiman Halilu; Coordinating Director, Finance and Accounts, NASENI, Alh Ibrahim Baba Dauda; Coordinating Director, Science Infrastructure Directorate, NASENI, Prof Umaru Gaya during a one-day sensitization workshop on Government Integrated Financial Management Information System (GIFMIS) policy and guidelines for financial managers organised by the National Agency for Science and Engineering Infrastructure and the Office of the Accountant General of the Federation held at NASENI Headquarters in Abuja on Tuesday, May 14, 2024.

The EVC stated this while declaring open one-day sensitization workshop on Government Integrated Financial Management Information System (GIFMIS) policy and guidelines for financial managers of NASENI in collaboration with the Office of the Accountant General of the Federation (OAGF) held at the Agency’s headquarters in Abuja on Tuesday, May 14, 2024.

The workshop was  aimed at enhancing financial management practices for NASENI principal officers, directors, managing directors and accounting officers system-wide.

Urging the participants to take the workshop with all sense of purpose, the EVC/CEO called for accurate financial record-keeping and the adoption of innovative processes which remain integral in the GIFMIS policy. He stressed the significance of staff training and capacity development to ensure the discharge of duties to make NASENI a preferred public sector employer in Nigeria.

While warning staff on classified documents, Mr. Halilu said confidentiality in financial management is a crucial aspect and called for strict adherence to public service regulations regarding the integrity of official information.

He further emphasized the Agency’s 3Cs initiative of Collaboration, Creation, and Commercialization as NASENI’s core operating principles, expressing confidence in achieving the Agency’s goals in alignment with the Renewed Hope Agenda of President Bola Ahmed Tinubu.

The Deputy Programme Manager, System Support and Sustainability Directorate, OAGF, Mr. Jeremiah Asanato, giving overview of the GIFMIS, said it is aimed at integrating budgeting and government expenditure. He emphasized that the policy will help to address irregularities, corruption, and other fraudulent activities in government Ministries, Departments and Agencies (MDAs).

In his vote of thanks, Coordinating Director,Finance and Accounts, NASENI, Alh. Ibrahim Baba Dauda, appreciated all Finance and Accounts Directorate staff from across NASENI centres system-wide for attending the workshop. He challenged them to start thinking of making NASENI an independent revenue-generating agency.

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