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Gunmen attack security operatives in Imo, many feared killed

Bankole ABE
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Gunmen attack security operatives in Imo, many feared killed

GUNMEN have reportedly killed some security personnel, including soldiers, police officers, and members of the Nigeria Security And Civil Defence Corps (NSCDC) in Imo state.

The tragedy occurred on Tuesday, September 19, in the Umualumaku neighbourhood of the state’s Ehime Mbano Local Government Area.

Reports say two security trucks carrying the joint security taskforce team were attacked and set on fire by their assailants. The affected officials were all burned alive inside their official vehicles.

According to Punch Newspaper, a security agent who wished to remain unnamed said reinforcement teams had been dispatched to the crime scene to apprehend the suspects and recover the bodies of the deceased.

He said that the community had been thrown into confusion, and the issue has raised concern in the area.

In a chat with The ICIR on the matter, the police spokesperson in the state, Henry Okoye, who said he was on the spot assessment of the scene, confirmed the development but promised to get back to the reporter on the matter.

The state’s security situation has recently been an issue of concern. In August, gunmen in Owerri, the state capital, assassinated a retired police officer, Sampson Owobo, and his wife.

The thugs shot the man and his wife to death when they tried to take their money bag from them.

The gunmen, who were about three in number, shot the retired officer in the forehead when they could not take the bag.

The assailants also shot the wife close to her chest.

Atiku, Obi appeal PEPT’s judgment at Supreme Court

Mustapha USMAN  and  Bankole ABE
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Atiku, Obi appeal PEPT’s judgment at Supreme Court

The presidential candidate of the Peoples Democratic Party (PDP), Abubakar Atiku, and his Labour Party counterpart, Peter Obi, have filed appeals at the Supreme Court, seeking the nullification of the Presidential Election Petition Court’s judgment which upheld the declaration of President Bola Tinubu as the winner of the 2023 presidential polls.

The notice of appeal filed by Atiku’s lead counsel, Chris Uche, urged the apex court to set aside the tribunal’s ruling, predicating his argument on 35 grounds.

He argued that the tribunal, in the judgment delivered by its chairman, a Justice, Haruna Simon Tsammani, made significant errors in its ruling.

Atiku said the court erred by not annulling the presidential election result.

He pointed out the grounds of non-compliance with the Electoral Act 2022, emphasizing that the evidence before the court showed that INEC conducted the election with “severe and significant” misrepresentation. This, he argued, contradicted the Electoral Act 2022.

Obi’s appeal challenging Tinubu at the PEPC was filed on Tuesday, September 19.

In a 51-grounds notice of appeal by his lead counsel, Livy Uzoukwu, Obi challenged the decision of the presidential election tribunal.

Obi’s appeal is referenced and titled Petition No: CA/PEPC/03/2023 MR. Peter Gregory Obi & Anor. v. Independent National Electoral Commission & ORS.

On September 6, the tribunal upheld the election of President Bola Tinubu and dismissed Atiku, Obi, and the Allied People’s Movement (APM) petitions against his victory.

The five-man panel of justices said the petitions filed against Tinubu by the parties were without merit.

“Having concluded and decided that all three petitions are all devoid of merit, the petitions are hereby dismissed,” the panel announced.

The ICIR had, on March 1, reported how INEC declared Tinubu as the winner of the February 25 election.

According to INEC, Tinubu secured 8,794,726 votes to come first, Atiku Abubakar of the PDP finished second with 6,984,520, while Obi polled 6,101,533 to go third.

Although the tension that followed the announcement of the result was very high, APC has continued to hold that Tinubu’s victory was valid and that the election was free and fair.

In his petition before the tribunal, Obi had stated that there was rigging in 11 states, and he promised to prove it based on the uploaded results on INEC’s server.

He further claimed that Tinubu “was not duly elected by a majority of the lawful votes cast at the time of the election”.

The ICIR, in a report on Sunday, September 17, looked at options before Obi and Atiku after the Tribunal struck out of their respective case.

National grid collapses for third time in September

Ijeoma OPARA
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National grid collapses for third time in September

THE National grid collapsed on Tuesday, September 19, for the third time in the month.

The Eko Electricity Distribution Company confirmed the collapse in a post via its official X handle on Tuesday.

“Dear valued customer, kindly be informed that following today’s system collapse at 11:31hrs, there is a total loss of supply across our network. We are currently engaging with our partners at the National Control Centre as we await further updates on restoration status. Do kindly bear with us,” the post read.

Power output dropped from 3,594.60 megawatts (MW) at midnight to 42.7MW, leading to a blackout in most parts of the country, as only the Delta Power Plant had 41.00 MW of operational electricity on the grid, while Afam had 1.7 MW.

The reasons behind the grid collapse are still unclear, as there has been no official communication from the Transmission Company of Nigeria (TCN).

On September 14, barely five days ago, the Enugu Electricity Distribution Company Plc (EEDC) confirmed that Nigeria’s electricity grid collapsed in the early hours of the day in a post via its X handle titled “Notice of Total System Collapse.”

This came less than 12 hours after a previous collapse.

The Nigerian power sector has been going through numerous challenges despite privatisation, with its value chain of generation, transmission and distribution accessing many interventions from the World Bank.

The Federal Government has spent more than N1.6 trillion intervening in the power sector, post-privatisation, due to illiquidity in the industry.

Amidst the collapse of the national grid, many households and businesses are still faced with estimated billing, in most cases paying for power they did not consume.

DHQ probes video of soldiers chatting with bandits

Bankole ABE
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DHQ probes video of soldiers chatting with bandits

THE Defence Headquarters (DHQ) has launched an investigation into a viral video clip of some soldiers chatting with bandits in Katsina State.

The Director of Defence Information, Tukur Gusau, said the investigation intended to determine the video’s veracity.

He stated this in a statement on Monday, September 18.

Gusau said the military’s high command knew certain bandits’ intention to turn around and surrender their guns to the authorities.

The statement stated that the Chief of Defence Staff (CDS), Christopher Musa, had assured Nigerians that the military would engage through every lawful means to ensure peace returns to Nigeria.

“The DHQ assures Nigerians that its non-kinetic measures aimed at restoration of peace are yielding results, with several bandits and other criminal elements surrendering to authority.

“Governments at all levels are encouraged to allow bandits genuinely willing to surrender to do so while the window is still open.,” the statement reads.

The DHQ urged all citizens to remain calm and law-abiding as the military intensified efforts to return peace to the country.

Reports emerged on Sunday, September 17, that militants were seen holding peace talks with locals in the Faskari Local Government Area of Katsina state.

The video generated a lot of outrage on social media, with many wondering why soldiers should chat with bandits that have held the region down for years.

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According to a report by Premium Times, in November 2021, bandits killed unspecified people in the Faskari local government area of Katsina State.

During the evening attack, the attackers allegedly ransacked local businesses.

The report also stated that many people had left the axis because of insecurity since banditry.

Sanwo-Olu engages SSS to support Police investigation into Mohbad’s death

Itoro ETUKUDO
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Sanwo-Olu engages SSS to support Police investigation into Mohbad’s death

LAGOS State Governor Babajide Sanwo-Olu has urged the State Security Service (SSS) to join the Police’s ongoing investigation into the death of Ilerioluwa Promise Aloba, a 27-year-old musician widely known as Mohbad.

In a statement released on Tuesday, September 19, the governor assured the public that he had been working with relevant authorities to ensure justice was delivered over the late singer’s passing.

He noted that he had invited the State Security Service (SSS) to join the Police in investigating the circumstances surrounding the death. 

He also appealed to individuals with crucial information on the singer’s passing to come forward and aid a thorough investigation.

“I have instructed that all those who may have played any role in any event leading to the death of Mohbad be made to face the law after a thorough investigation.

“I hereby plead with all those who may have vital information that may assist the investigation process to avail the investigating team with such. I have also appealed to the investigating team to guarantee the confidentiality and protection of all witnesses who may come forward with vital information or indicative evidence that may assist the process”, he noted. 

He assured the public that both the Police and SSS would provide periodic updates on the progress of the investigation. 

The governor also called for public patience and sympathized with the late artist’s family, friends, and fans.

“I also appeal to all friends and fans of the deceased to stay calm and refrain from making inflammatory utterances and reaching prejudicial conclusions on this matter. Staying calm and following the process will be our most solemn tribute to the memory of the departed talent.

Since the death of the young artiste on September 12, singers, celebrities, and other Nigerians have been mourning his demise and paying tribute to him.

According to reports, youths in different cities have taken to the streets to protest, demanding justice for the late singer.

The ICIR reported how the Police had launched an investigation into Mohbad’s death, and a lawyer called for a coroner’s inquest to unravel the cause of his passing.

Oando’s audited annual report marred by blurry figures, texts

Ehime ALEX
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Oando’s audited annual report marred by blurry figures, texts

OANDO Plc’s audited financial statements released to the investing public could be more readable, The ICIR can report.

The NGX published the financial report on its website on Monday, September 18.

As a post-listing rule, the NGX required quoted companies to submit audited results not later than 90 calendar days, or three months, after the expiration of the period – a period in this case represents a year.

The NGX had designed the post-listing requirement to maintain market integrity and protect investors by providing compliance-related information on all listed companies.

A check by The ICIR showed that Oando’s statement of financial position, otherwise known as the balance sheet, published by the NGX contained blurry lines and some unreadable figures.

Below is a screenshot of part of the report. Most affected are pages 18 and 19, which contained the company’s statement of financial position.

Oando Company's balance sheet
Oando Company’s balance sheet
Oando Group's balance sheet
Oando Group’s balance sheet

The Nigerian multinational energy company, operating in the upstream, midstream and downstream, has since 2019 been in a financial mess.

In its 2021 audited annual account, the independent auditor, BDO Professional Services Chartered Accountants, further raised concern about the company’s ability to continue as a “going concern.”

[UPDATED]NNPC retires management staff with 15 months to retirement

Ehime ALEX
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[UPDATED]NNPC retires management staff with 15 months to retirement


THE Nigerian National Petroleum Company Limited (NNPCL) has compulsorily retired all management staff with less than 15 months to statutory retirement.

Making the announcement on X, NNPCL wrote “In our bid to pursue effective organisational renewal to support the delivery of our strategic business objectives, it has become imperative to rejuvenate our workforce.

Consequently, in addition to the recent exit of three (3) Executive Vice Presidents, other Management Staff with less than fifteen (15) months to statutory retirement will be exiting the Company effective 19th September 2023.

This is in line with our commitment to scale up NNPC Ltd.’s capabilities through targeted talent management and equal opportunity for all Nigerians.”

UPDATE

THE Nigerian National Petroleum Company Limited (NNPCL) has compulsorily retired all management staff with less than 15 months to statutory retirement to scale up its capabilities and rejuvenate its workforce.

On its X handle, the NNPCL announced this on Tuesday, September 19, stating that the move is for the Company to pursue effective organisational renewal to support its strategic business objectives.

“Consequently, in addition to the recent exit of three (3) Executive Vice Presidents, other Management Staff with less than fifteen (15) months to statutory retirement will be exiting the Company effective 19th September 2023.

“This is in line with our commitment to scale up NNPC Ltd.’s capabilities through targeted talent management and equal opportunity for all Nigerians,” NNPCL said.

The development came barely two days after the NNPCL announced the removal and replacement of three of its executive vice presidents (EVPs), formerly executive directors, before the advent of the Petroleum Industry Act (PIA).

Affected by the removal made by NNPCL on September 19 were Abdulkabir Ahmed, in charge of gas, power and new energies; Adokiye Tombomieye, who headed the upstream segment; and Adeyemi Adetunji, in charge of the downstream.

Olalekan Ogunleye became the EVP gas, power and new energies; Oritsemeyiwa Eyesan was for the Company’s upstream operations, while Adedapo Segun took the downstream.

In July last year, the national oil firm, formerly Nigerian National Petroleum Corporation (NNPC), was unbundled and transitioned into a profit-making entity named NNPCL.

Preparatory to its new status as a limited liability company, the NNPCL in August 2021 did a shakeup that affected the sack and redeployment of senior management staff.

According to the Group Managing Director, Mele Kyari, the appointment enables the Corporation to live up to the expectations of Nigerians and achieve its vision of becoming a world-class energy company of choice.

Over the years, there have been several reports on the mismanagement and financial recklessness of the Corporation’s activities, demanding thorough investigations, transparency and accountability of the firm.

In October 2021, The ICIR reported that the Financial Reporting Council (FRC) had found fault with the financial records of the NNPC, promising to dusk up the reports and expose financial wrongdoings.

The report exposed, among other rottenness in the operations of the NNPCL, one of the subsidiaries of the NNPC managed by the incumbent GMD, Mele Kyari, employed 487 new staff members in 2020.

The 487 new workers were paid N3.93 billion annually, each taking an average of N8.072 million annually or N672,713 monthly.

The report showed that the monthly salaries earned by the staff were about the annual salary of a Level 8 Federal Government worker.

Between 2019 and 2020, the refinery employed 1,162 new staff, paying N41.163 billion in salary and wages, according to The ICIR’s calculations of the Company’s wage data on its financial statements.

Of the 487 staff members employed in 2020, 430 were senior and management staff, amounting to 88.2 per cent, with substantial financial implications. Only 57 were junior staff members.

On September 16, The ICIR recently reported how an ad-hoc committee of the House of Representatives interrogated the NNPCL boss Kyari over the controversial acquisition of OVH Energy by NNPCL.

The investigation is not unconnected with the allegations of N20 billion payment to a ghost consultant that has rattled the national oil company.

Independent auditor raises concern as Oando sinks further into debts

Ehime ALEX
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Independent auditor raises concern as Oando sinks further into debts

BDO Professional Services Chartered Accountants, the independent auditor of Oando Plc, has expressed worries over the company’s ability to continue as a going concern.

The company’s liabilities have again exceeded its assets, the auditor said.

The auditor raised its red flag in Oando’s audited annual reports and consolidated financial statements for the year ended December 31, 2021, released on Monday, September 18.

It disclosed that the company’s current liabilities exceeded its assets by N237.8 billion, as it reported net current liabilities of N202.4 billion in 2020.

The company also reported net liabilities of N202.2 billion from N174.1 billion in 2020 and a total comprehensive loss of N28.12 billion from N45.31 billion in 2020.

According to financial analysts, when current liabilities exceed current assets, the current ratio will be less than one. In that situation, the company might have problems meeting its short-term obligations.

A further look at the audited report showed that the group delivered a sign of recovery, posting a total comprehensive income of N30.6 billion in 2021 from a N132.8 billion loss in 2020.

However, the group’s current liabilities exceeded current assets by N674.8 billion from net current liabilities of N578.2 billion in 2020.

The company also reported net liabilities of N129 billion from N67.7 billion in 2020.

Oando Group comprises Oando Trading, Oando Clean Energy, and Oando Energy Resources.

A Nigerian multinational energy company operating in the upstream, midstream and downstream, Oando had suffered a two-year run of losses that began in 2019 when it reported loss after tax of N207.1 billion in 2019 and N140.7 billion in 2020.

The ICIR reported on June 30, 2022, that Oando was on the verge of voluntarily delisting from the capital market due to the enormous losses.

The company had been entangled in a messy shareholder dispute that involved an indirect shareholder, Ansbury Investment Inc., which prompted the Securities and Exchange Commission (SEC) to bar the firm from holding its annual general meetings, making it impossible to release its financials for three years.

At the heart of the conflict were loans granted to the shareholder, which forced Oando to make a colossal impairment allowance that pushed the company into a loss after tax of N207.1 billion in 2019 and N140.7 billion in 2020.

Background to the conflict

In 2017, the SEC received petitions from two shareholders who accused Oando of regulatory infractions, including corporate governance lapses and mismanagement.

Investigating the claim, the SEC sanctioned the group by suspending its AGM in 2018. It even attempted to get the company’s Group Chief Executive, Wale Tinubu, and other affected board members to resign in 2019.

The ICIR reported that Oando could not produce its results for over three years due to the SEC’s suspension of its AGM in 2018.

Negative operating cash flow

Although the group recorded a N30.6 billion profit during the year due to the net reversal of assets impaired in previous years, the company continued to incur losses with negative operating cash flows.

The independent auditor, in its notes, stated that the reversal of this trend was dependent on a successful outcome of its planned actions to refinance its debts to manage the funding gap of N768.1 billion and the attainment of revenues in the group forecast for the year ending December 31, 2023.

“As stated in the notes, these conditions, together with other matters, indicate the existence of a material uncertainty that may cast significant doubt on the company’s and the group’s ability to continue as a going concern and, therefore, may be unable to realise its assets and settle its liabilities in the ordinary course of business.

“Our opinion is not modified in respect of this matter,” the independent auditor stated in its report signed by Henry Omodigbo for the BDO.

The audited report also revealed that the firm recorded negative operating cash flows of N14.4 billion while the group recorded N38.8 billion, up from N36.2 billion in 2020.

As of the balance sheet date, the group could not achieve payment of the outstanding principal on the medium-term loan of N92.2 billion and the corporate facility of N97.4 billion.

It could not pay its total accrued interest of N65.6 billion and settlement of other net current liabilities (excluding current borrowings and accrued interest) of N315.7 billion.

After the reporting date, the firm has continued to incur significant borrowings, including funding of operations and partial repayment of borrowings.

The group recorded unaudited positive revenue variance in 2022 due to increases in oil prices and higher trading volumes.

However, the independent auditor stated that the increase in revenue did not translate to a corresponding increase in gross margin and positive cash flows from operations.

Consequently, the firm needed help to achieve the planned repayment of outstanding borrowings during the year.

Furthermore, the auditor hinted that the company and group recorded unaudited total comprehensive loss, net current liabilities and net liabilities at the end of 2022.

The group’s outstanding borrowings amounted to N506.7 billion (unaudited), excluding interest as of December 31, 2022, with N402.4 billion out of the N506.7 billion being due within twelve months.

The independent auditor stressed that Oando’s forecast to return to profitability by 2024 highly depended on the stability of crude oil prices within the current range.

It also depends on the Oando’s ability to engage in activities that will increase production volume and intensify security surveillance to arrest crude oil theft.

Production declined by 40% in one year

During Oando’s operations in 2021, its oil production dropped by 40 per cent.

Average production was 26,775 barrels of oil equivalent per day (boe/day) in 2021 compared to 44,550 boe/day in 2020.

Production consisted of 8,849 barrels per day (bbls/day) of crude oil, 1,699 boe/day of natural gas liquids (NGLs) and 97,363 million cubic feet per day (mcf/day) or 16,227 boe/day of natural gas.

Oando blamed the production decreases on shut-ins for repairs, maintenance, and sabotage incidents at the facilities.

“Although a surge in militancy and sabotage activities across the Niger Delta negatively affected our operations during the reporting period, we have since seen progress in security initiatives and are consistently seeking innovative solutions to stabilise our oil and gas production.

“Moving forward, we remain committed to driving growth within our upstream and trading businesses whilst simultaneously diversifying our portfolio by investing in non-fossil and climate-friendly energy solutions through Oando Clean Energy Limited,” Tinubu said.

FRSC officers beat up ICIR journalist in Abuja for doing his work

Nurudeen AKEWUSHOLA
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FRSC officers beat up ICIR journalist in Abuja for doing his work

SOME Federal Road Service Commission (FRSC) officers on Monday, September 18, attacked Mustapha Usman, a journalist with the International Centre for Investigative Reporting (ICIR), near the Corps’ Zone 7 office in Abuja.

They beat up and confiscated the reporter’s identification card while he was trying to report an incident involving the officers at the Wuye Junction in the nation’s capital.

The officials had accused a woman of violating traffic laws near the Wuye Bridge, currently under construction.

The reporter saw the officers forcefully grabbing the steering wheel from the woman after they had stopped her.

When they failed to take over the steering from her, they deflated her car tyres, prompting Mustapha to video the incident.

As soon as the officers sighted the reporter, they ran after him, pounced on him, beat him up and collected his identity card.

They alleged the woman was arrested for using her phone to check Google Maps while driving.

However, the woman, who introduced herself as Esther Oluwatimileyin, claimed she became confused about the direction to take due to the ongoing bridge construction, which had recently led to the blockage of a section of the road and diversion.

“I was trying to explain the situation to them (the personnel) that I didn’t know they had blocked that road,” she said.

“I was trying to navigate from this place, and I raised my phone to look at the map because I was using Google Maps from where I came from. The next thing was that they started bursting my tyres,” she explained.

While recounting his ordeal, Mustapha said he was passing by when he observed the officers surrounding the woman’s car.

Scene of the incident

“I got closer and noticed that officers were already forcibly taking control of the steering wheel from her. Other officers were surrounding her car, and they later deflated her car tyres,” he said.

He added: “I was watching closely, and I tried to record the event on video”.

He added, “When the situation became intense, one of the officers came to disperse the crowd. They also attempted to pull me away, but I made them understand I was a journalist. I showed them my ID card, but they didn’t pay attention.

“They started slapping me. About five of them surrounded and attacked me. I can’t even recall exactly how many of them beat me because it was close to their office, and there were many. I was retrieving my ID card from the floor when one hit me and took it away.”

Among the officers at the scene are ‘Saliu’ and ‘M. Yahaya’. The remaining officers wore white vests.

The officers took Mustapha’s ID card to their office and held it for over two hours. They insisted that he delete the recordings on his phone and apologise for recording them while they were performing their duties.

Mustapha later sent a message to the Corps spokesperson Bizi Kazeem. He directed him to the sector commander, who subsequently ordered the release of his ID card.

Reacting to the incident, the sector commander, Muta Chorrie, blamed the reporter for recording the officers “while doing their job”, describing what he did as disrespectful and malicious.

He accused Esther of violating the traffic law by using her phone to check Google Maps while driving. He also accused her of insulting his officers, making them deflate her car’s tyre.

Contrary to Chorrie’s claim that the reporter was in the wrong, the officers are public officials wearing paraphernalia that identifies them as such and carrying out an activity at a public place.

Mohbad: Lawyer demands coroner’s inquest into cause of death

Bankole ABE
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Mohbad: Lawyer demands coroner’s inquest into cause of death

A LAWYER, Festus Ogun, has written to the Chief Coroner of Lagos State, Mojisola Dada and the newly sworn-in Attorney General of the state, Lawal Pedro, demanding a coroner’s inquest into the death of the singer, Ilerioluwa Aloba, popularly known as Mohbad.

In a statement sent to The ICIR on Monday, September 18, Ogun, who described himself as a fan of the late singer, said there were significant reports that Mohbad’s death was not due to natural causes.

“There are equally credible reports suggesting that Mohbad was persistently bullied, harassed, tortured, assaulted and intimidated by some elements who tormented him and his bright musical career even up till the time of his death.

“Curiously, those found last with him before and at the point of death are unable to give any tangible explanation as to the circumstances and cause of his death. The stories being told are contradictory and not convincing,” he stated.

He said that he believed there were clear reasons the cause of Mohbad’s death was unnatural and suspicious.

Ogun is requesting the coroner’s inquest in line with Sections 14 and 15 of the Coroner’s Systems Law of Lagos State. 

“We hereby request for a coroner’s inquest to investigate and determine the cause and circumstances of Mohbad’s death,” he added.

He requested that the duo exercise their power under Section 17 of the Coroner’s System Law to order the exhumation of Mohbad’s body for the Chief Medical Examiner to determine the cause of his death.

He stated that he hoped that upon the conclusion of the examination, the investigation’s findings would be made public, and the appropriate authorities would sanction those found wanting.

Meanwhile, the Lagos State Police Command on Monday, September 18, inaugurated a 13-man probe panel to unravel the circumstances that led to Mohbad’s death.

The state police commissioner, Idowu Owohunwa, said the probe was essential to get justice for the singer’s family and fans.

“Do not forget, we have unique access with INTERPOL. Everybody linked to it (the death of Mohbad) will be identified, and they will be brought to establish their level of involvement,” Owohunwa stated.

Mohbad died on Tuesday, September 12, at the age of 27. The cause of his death remains unknown.

He was buried on Wednesday, September 13, in Lagos, and his sudden death has continued to generate concerns across the country.

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