Panel awards NPDC $1.69bn over Brass, Forcados assets
A tribunal sitting at the Lagos Court of Arbitration has awarded over $1.69bn in favour of the Nigerian Petroleum Development Company Limited in the arbitration between Atlantic Energy Drilling Concepts Nig Ltd and Atlantic Energy Brass Development Ltd and the NPDC.
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Trouble brewing as NNPC owes FAAC $1.7bn - The Nation NigeriaAnother round of trouble is brewing between the Federation Account Allocation Committee (FAAC) and Nigerian National Petroleum Corporation (NNPC)
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NNPC’s $1.7b debt to FAAC - The Nation NigeriaAnother round of trouble is brewing between the Federation Account Allocation Committee (FAAC) and Nigeria National Petroleum Corporation (NNPC) following delay by Nigeria Petroleum Development Company (NPDC), an NNPC subsidiary, to offset the $1.7 billion owed FAAC. According to a document, FAAC was angry that the NNPC had reneged on its pledge to pay the …
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N3.9bn case: Badeh forfeits six properties, cash to FG – Daily TrustLate former Chief of Defence Staff, Air Chief Marshal Alex Badeh has forfeited six properties and about $1 million to the Federal Government after his company was convicted.
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Ogoni clean up: Oil firms pay 42.1bn into Escrow account – Daily TrustInternational Oil Companies (IoCs) have so far contributed about $117 million (About 42.1bn) of the expected $200m into the London escrow account of the Standard Chartered Bank for the $1 billion Ogoni clean up. The Programme Manager, Civil Society Legislative Advocacy Centre (CISLAC), Kolawole Banwo who spoke in Lagos yesterday said, it was separate from …
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Badeh’s firm convicted, forfeits six properties, cash to FG – Daily TrustA company linked to late former Chief of Defence Staff, Air Chief Marshal Alex Badeh has forfeited six properties and about $1 million to the Federal Government after the company was convicted yesterday. Justice Okon Abang of an Abuja Federal High Court on ordered the forfeiture and winding up of Iyalikam Nigeria Ltd after the company, …
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NNPC to build fertilizer plant in Brass, power plants in Abuja, Kaduna, Kano – Daily TrustThe Nigerian National Petroleum Corporation (NNPC) says it is prepared to build additional Independent Power Plants (IPP) in Abuja, Kaduna and Kano which are expected to add 4,000 megawatts of power to stabilize the national grid. The national oil company also disclosed that it would construct a fertilizer plant in Brass, Bayelsa State.ADVERTISEMENT Chief Financial …
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Amnesty programme: Investigative panel on looters inaugurated – Daily TrustThe federal government has promised to unmask and prosecute the perpetrators as well as sponsors of the mindless looting of Amnesty Program empowerment starter-packs meant for distribution to impacted communities in the Niger Delta. Speaking yesterday in Abuja at the inauguration of a Special Investigative Panel to probe the invasion and looting at the central …
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Court orders, administrative hurdles cripple presidential panel – Daily TrustThe powers of the Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) to prosecute suspected corrupt individuals have again been voided by a court. Justice Inyang Ekwo of the Federal High Court, Abuja in his ruling on february 25 said that the panel in seeking to prosecute offenders, has acted ultra vires …
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NNPC recovers N771m forfeited assets – Daily TrustThe Nigerian National Petroleum Corporation (NNPC) says it has recovered assets worth over N771 million from some marketers who under-paid for petroleum products supplied to them. The corporation disclosed this in a statement issued by its spokesman, Mr Ndu Ughamadu, in Abuja, on Tuesday, and said that the marketers got the products from Kaduna Depot …
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