After multiple delays, the Port Harcourt Refinery is finally set to start production.

Checks revealed that the Port Harcourt Refinery has missed seven deadlines for commencing production as of October 2024.

The Nigerian National Petroleum Company Limited (NNPCL) had set multiple dates for the refinery’s operational start, including promises made in March, August, and September 2024, all of which passed without fulfillment.

However, in a message from an impeccable source, seen by LEADERSHIP, the NNPC said: “Today (Tuesday) marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation.

“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”

Rehabilitation of the Port Harcourt Refinery began in 2021. The contractor overseeing the project, Maire Tecnimont SpA, had been working on the facility since a $1.5 billion contract was signed in April 2021.

Despite announcements of mechanical completion in December 2023, the refinery did not start production due to what the NNPCL called “ongoing safety checks and delays in the final stages of rehabilitation.”

Details Later…

Atiku Abubakar, the 2023 presidential candidate of the Peoples Democratic Party (PDP), and Peter Obi, the Labour Party (LP) candidate, are reportedly in discussions about forming a new political party ahead of the 2027 elections.

According to sources, the two leaders recently met to deliberate on the possibility of adopting a fresh political platform. 

They are scheduled to meet again in Yola, Adamawa State, on Saturday, November 30, where Obi will serve as the keynote speaker during a ceremony marking Atiku’s 78th birthday.

The event, taking place at the American University of Nigeria (AUN) owned by Atiku, is reportedly intended to demonstrate their continued camaraderie.

According to The Sun, The Africa Report disclosed that a spokesperson for the duo acknowledged that a potential merger is being considered but declined to share specific details.

Since their defeat to President Bola Tinubu and the All Progressives Congress (APC) in 2023, Atiku and Obi have explored avenues for collaboration. The discussions are seen as a response to internal challenges within their respective parties.

The PDP has faced a prolonged crisis, with its current national chairman, Umar Damagum, being an ally of Nyesom Wike, the Minister of the Federal Capital Territory.

Wike has been a vocal critic of Atiku’s presidential bid and supported Tinubu in the last election.

Similarly, the Labour Party has struggled with internal discord, as Obi’s relationship with the party’s chairman, Julius Abure, has soured.

The talks between Atiku and Obi are reportedly advancing, with election preparations set to commence in just over a year. Former Kaduna State Governor Nasir El-Rufai is also said to be involved in these discussions, signaling the possibility of a significant political realignment.

[NAIJA NEWS]

The Ministry of Education has warned that any student found guilty of physical assault leading to bodily injury will be suspended indefinitely from Unity Colleges.

A memo signed by the Permanent Secretary, Nasir Gwarzo, which was obtained by our correspondent in Abuja, said the ministry’s attention was drawn to the alarming rise in cruel acts of physical assault among students.

In response, the ministry resolved to take a tough stance on the issue, stressing that such behaviour would no longer be tolerated.

On November 7, 2024, the Federal Government ordered the immediate suspension for six weeks of 13 students allegedly involved in the bullying of their fellow students in Senior Secondary School 1 at the Federal Government College, Enugu.

The Minister of Education, Dr Tunji Alausa, ordered the suspension to pave the way for a thorough investigation into the incident.

The directive followed the circulation of a disturbing video on social media platforms, where a group of students were seen assaulting a student.

The development came as reports of bullying in private and government colleges intensified in the country.

In a bid to curb the growing menace of student-on-student violence, the ministry said it deemed it necessary to introduce more severe penalties to address the escalating problem of student violence.

“The attention of the ministry has been drawn to the cruel and inhuman acts of physical assault that inflict bodily injury on other students by fellow students or groups of students.

“In addition to the punishments in the ministry’s approved uniform guidelines for offences and punishments, the ministry has directed that henceforth, any student or group of students found culpable of physical assault leading to bodily injury on another student or group of students will be suspended indefinitely from the college.

“Ensure that you comply strictly with the content of this circular and inform the SBMC members and parents accordingly.

“College administrators have been instructed to strictly comply with the new directive and to inform Student-Based Management Committee members and parents accordingly,” the statement read.

The Nigerian National Petroleum Company Limited has requested an additional subsidy refund of N1.19 trillion for July 2024, citing exchange rate differentials on Premium Motor Spirit importation and joint venture taxes, according to findings by The PUNCH.

But state governments tackled the national oil company over the latest request, as they raised concerns over NNPCL’s accounting practices.

These findings were based on the Federation Account Allocation Committee Postmortem Sub-Committee report for September 2024, which was obtained by The PUNCH on Monday.

The report revealed that exchange rate differentials stood at N4.56tn as of June 2024 (due to under-recovery on petrol imports between August 2023 and June 2024), but this figure increased to N5.31tn by July 2024.

The NNPCL attributed the rise to fluctuations in foreign exchange rates and unresolved subsidy payments from previous months.

The total figure adds to concerns over the fiscal impact of subsidy payments on the Federation Account.

Exchange rate fluctuations and the rising cost of importing PMS have continued to strain government revenues, raising questions about the sustainability of the partial subsidy framework.

Committee raises concerns

The FAAC Sub-Committee raised concerns over NNPCL’s accounting practices, noting discrepancies in the figures submitted.

The NNPCL’s report included N1.19tn as a balance brought forward, contributing to the overall claim of N5.31tn.

However, the Sub-Committee noted that this amount had not been included in earlier FAAC reports and was therefore not recognised in its deliberations.

The report read, “As of June 2024, the Exchange Rate Differentials stood at N4,558,597,379,030.6. This amount increased to N5,309,418,715,637.13 as of the July 2024 Federation Account.

“Note that NNPCL’s request for the application of Weighted Average Rate covers the period August to June 2024. Also, recall that all outstanding payments against NNPCL as of May 2024 were referred to the Presidential Alignment Committee for reconciliation.

“However, the Sub-Committee observed that NNPCL in their report included the sum of N1,186,540,693,485.36 as an amount brought forward totalling N5,309,418,715,637.13 in their ledger. FAAC Postmortem did not recognize the Balance Brought Forward because it was not included in the FAAC report earlier submitted.”

During the September meeting with agencies, the NNPCL informed the FAAC Postmortem Sub-Committee that the N1.19tn figure was an actual under-recovery amount, which included adjustments for June and July 2024.

This amount, the NNPCL said, was used as the opening balance in its report.

In response, the Sub-Committee recommended that the NNPCL re-submit the figure for consideration at the next plenary.

The report noted, “During the monthly reconditioning meeting with Agencies, NNPCL informed the meeting that the amount submitted to the Presidential Alignment Committee for under-recovery was estimated. The actual under-recovery of N1,186,540,693,485.36, including June and July 2024, resulted in the opening balance in the NNPCL report.

“The Sub-Committee resolved that since NNPCL’s earlier report to FAAC did not include the sum of N1,186,540,693,485.36 brought forward, NNPCL should re-submit the amount for FAAC Plenary noting.”

Missing documentation

Further scrutiny of the NNPCL’s claims revealed additional issues. Minutes of a previous FAAC meeting indicated that as of June 2024, the NNPCL had reported an outstanding claim of N4.34tn against the Federation.

The claim, which was tied to exchange rate differentials, lacked essential details, including the volume of PMS imported, pricing, and sales values.

The Federal Commissioner of the Revenue Mobilisation, Allocation, and Fiscal Commission stated that the omission of these details made it difficult for the Sub-Committee to justify the figures submitted.

Consequently, the sub-committee directed the NNPCL to provide all relevant information to enable further assessment of its claims.

The FAAC Postmortem Sub-Committee has emphasised the need for transparency and accountability in subsidy-related reporting.

It noted that the discrepancies in the NNPCL’s submissions had delayed the reconciliation process, which had already been referred to the Presidential Alignment Committee.

The sub-committee also urged the NNPCL to ensure the inclusion of all outstanding amounts and a comprehensive breakdown of its PMS importation records in future reports.

The minutes for one of the FAAC meetings, which was seen by The PUNCH, noted, “The Federal Commissioner, RMAFC, informed the meeting that NNPC Limited reported to the Sub-committee that it had an outstanding claim of N4,344,519,176,167.32 against the Federation as a result of exchange rate differentials as at June 2024.

“He stated that the Sub-committee observed that the details of the PMS volume, price, and sales value were not provided in the June 2024 Report of NNPC Limited to justify the exchange rate differentials recorded. He concluded that the Sub-committee had resolved to request NNPC Ltd to provide the relevant information for further consideration.”

The PUNCH earlier reported that Nigerian National Petroleum Company Limited demanded a refund of N4.71tn from the Federal Government to settle outstanding debts used to import Premium Motor Spirit, popularly called petrol, into the country.

However, the NNPCL clarified that the N4.71tn was just an estimate, and the actual figure was N4.34tn, which increased to N5.31tn by July 2024.

This development means that the government has been supporting fuel imports by covering the difference between the projected rate and the actual expenses incurred by the NNPCL for importing petroleum products into the country.

This difference in cost, which ordinarily should be reflected in the retail price of the product and borne by final consumers, contradicts the government’s claims that subsidies have been eliminated.

This revelation also comes amid challenges faced by the petroleum company to ensure the adequate supply of PMS to marketers for distribution nationwide.

On May 29, 2023, during his inauguration, President Bola Tinubu publicly declared that “subsidy is gone,” signalling the end of barriers that had been restricting the nation’s economic growth.

However, this claim has been contested by the International Monetary Fund, the World Bank, and other authoritative figures, who argue that the government had quietly reintroduced fuel subsidies.

In June, a proposed economic stabilisation plan document stated that the government planned to spend about N5.4tn on fuel subsidies.

The N5.31tn demanded by the NNPCL for petrol under-recovery is about 98.33% of what the Federal Government had planned to spend on fuel subsidies this year.

Between January and June 2023, the Federal Government spent about N3.6tn on fuel subsidy, which was far more than the N2tn spent for the entire year of 2022.

In the approved Medium-Term Expenditure Framework, the Federal Government admitted that the petrol subsidies have remained a major challenge.

It noted that the final 2023 dividend for the Federal Government from the NNPCL was withheld to settle fuel subsidies.

The MTEF document noted, “Despite recent reforms, petrol subsidies continue to have a significant adverse impact on oil revenues. Recently, the 2023 final dividend due to the federation was withheld for payment of fuel subsidies.”

Amidst the increasing cost burden on the government for petrol under-recovery, and despite promising to bring down the price of petrol during his campaign, President Bola Tinubu has repeatedly increased petrol price by about 505.71 per cent – from N175 in May 2023 to N1,060 in October 2024 – inflicting more pains on the already impoverished Nigerians.

Segun Sowunmi, a former spokesman for Atiku Abubakar, revealed that he had discussed the possibility of the former PDP presidential candidate running in the 2027 election.

Sowunmi, a former Ogun State gubernatorial aspirant, however, stated that Atiku has yet to provide a clear response.

Sowunmi made this disclosure in Abuja on Monday during the launch of the National Opposition Movement Coalition, a platform dedicated to strengthening opposition politics and promoting credible democratic and electoral processes ahead of the 2027 elections.

According to Sowunmi, the decision to contest the presidency should not focus solely on Atiku but rather on individuals with a clear vision for Nigeria’s development.

“Who would have thought that Tinubu, considering his background and history, would be in the villa today? It shows that leadership transcends any one individual,” Sowunmi remarked.

“Atiku hasn’t told me he’s running. I’ve asked him twice, and I’ll ask him once more. If he doesn’t give an answer, that’s it.”

Reflecting on the 2023 elections, Sowunmi recounted his efforts to convince former Anambra State governor, Peter Obi, to contest for the presidency under the PDP.

“I traveled across the Southeast, urging PDP members from the region, including His Excellency, Peter Obi. I visited him over five times, encouraging him to purchase the nomination form to gauge the Nigerian people’s support,” he shared.

Although Obi eventually joined the Labour Party without informing him, Sowunmi commended the former governor for bringing the Southeast’s aspirations into national discourse. However, he emphasized that leadership demands more than rhetoric, urging support for candidates based on their ability to deliver tangible results.

Sowunmi explained that the National Opposition Movement Coalition was born out of the urgent need to safeguard Nigeria’s democracy amidst growing concerns about the country’s electoral and governance systems.

He criticized the Independent National Electoral Commission (INEC) for failing to uphold election integrity despite improvements in its guidelines and operational manuals.

He also expressed concern over the declining credibility of the judiciary, which he described as crucial for maintaining balance and preventing government overreach.

Two Nigerians, Anthony Ibekie and Samuel Aniukwu, have been sentenced by a United States federal jury to 30 years combined jail term for defrauding some US citizens of $3,500,000.

This was contained in a press release made available on the US Department of Justice website and obtained by PUNCH Metro on Monday.

According to the statement, the duo of Ibekie and Aniukwu deceived their victims by telling them that they had received substantial inheritances that required some money to claim.

The duo would then request their victims to send some amounts of money with a promise to refund them once the inheritances were claimed.

It also noted that the duo carried out romance scams by establishing romantic relationships with their victims and demanding them to send money after they had built trust in their victims.

It read, “An undercover law enforcement investigation has resulted in federal prison sentences for two Nigerian nationals residing in the Chicago suburbs who conducted online inheritance scams and other fraud schemes.

“Using aliases, Anthony Emeka Ibekie and Samuel Aniukwu communicated with victims throughout the United States, convincing them they had received substantial inheritances and needed to send money to individuals associated with the defendants in order to claim it.

“In addition to the inheritance scam, the pair carried out an online romance scam that involved communicating with victims via social media and dating websites, building trust with the victims through a purported online romance, and convincing them to send money to a predetermined recipient. Aniukwu and Ibekie also orchestrated a ‘business email compromise’ scam that targeted corporate email accounts.

“The fraud schemes were uncovered by a covert law enforcement investigation. The scams resulted in losses to victims of at least $3.5 million.”

The statement noted that following their arraignment on no fewer than 14 counts, the duo pleaded guilty to their various changes.

Upon their guilty plea, Ibekie was sentenced to 20 years jail term on Thursday while Aniukwu was sentenced on November 8 to 10 years jail term.

The statement continued, “A federal jury earlier this year convicted Ibekie, 59, of Oswego, Ill., on all 14 counts of wire fraud, mail fraud, money laundering, making false statements to a bank, and passport fraud. U.S. District Judge Steven C. Seeger on Thursday sentenced Ibekie to 20 years in federal prison.

“Aniukwu, 50, of Romeoville, Ill., pleaded guilty last year to wire fraud and money laundering charges. Judge Seeger on Nov. 8, 2024, sentenced Aniukwu to 10 years in prison.”

Meanwhile, an accomplice of Ibekie and Aniukwu, who is a US citizen, Jennifer Gosha, is scheduled to be sentenced on December 18 following her guilty plea.

“A third defendant, Jennifer Gosha, 52, a U.S. citizen from Oak Park, Ill., pleaded guilty earlier this year to charges of wire fraud and making false statements to a federal agent. Gosha is scheduled to be sentenced by Judge Seeger on December 18, 2024,” the statement concluded.

About N3.87 trillion has been allocated for recurrent expenditure across 13 Nigerian states in their proposed budgets for the 2025 fiscal year.

The governors of these states have presented budgets that prioritise administrative costs, including salaries and overheads, while also allocating significant funds for capital projects aimed at boosting infrastructure development.

The total proposed budget across the 13 states for 2025 stands at N9.07tn. Of this total budget, N3.87tn is allocated for recurrent expenditure, which covers the ongoing costs of running the government and providing essential services.

The remaining N5.845tn is directed towards capital expenditure, reflecting the states’ focus on long-term projects.

The figures provided in this report were derived from details of the budget submitted by the state governors to their respective State Houses of Assembly. The reports were posted on each state’s official website.

Recurrent expenditure refers to the regular and ongoing costs that a government or organisation incurs in the day-to-day running of its activities.

Capital expenditure, on the other hand, refers to the funds used by the government or an organisation for the acquisition or construction of long-term assets that will contribute to future growth and development.

In Lagos State, Governor Babajide Sanwo-Olu proposed a budget of N3.005tn, with N1.24tn allocated for recurrent expenditure, representing a portion of the total budget. The state also earmarked N1.76tn for capital expenditure, highlighting its focus on infrastructural development.

Bauchi State Governor, Bala Mohammed, presented a N465.09bn budget, with N182.74bn allocated for recurrent expenditure, which makes up 39.3 per cent of the total budget. The remaining N282.34bn is set aside for capital expenditure, underscoring the state’s commitment to development.

In Bayelsa State, Governor Douye Diri proposed a N689.4bn budget with N263.38bn earmarked for recurrent expenditure, accounting for 38.2 per cent of the total budget. A larger portion, N404.76bn, was allocated for capital expenditure.

Osun State Governor, Ademola Adeleke, presented a N390.03bn budget, allocating N245.8bn (62.9 per cent) for recurrent expenditure, with N144.23bn dedicated to capital expenditure.

Oyo State’s budget, presented by Governor Seyi Makinde, is N678.09bn, with N325.57bn allocated for recurrent expenditure. This represents 49.41 per cent of the total budget. The state has also proposed N349.29bn for capital expenditure.

Anambra State Governor, Charles Soludo, presented a N606.9bn budget with N139.5bn allocated for recurrent expenditure, representing 23 per cent of the total. A larger share of N467.5bn is dedicated to capital expenditure, though the state faces a projected deficit of N148.3bn.

In Gombe State, Governor Muhammadu Yahaya proposed a N320.11bn budget, allocating N111.09bn for recurrent expenditure and N209.02bn for capital expenditure.

Ekiti State Governor, Biodun Oyebanji, presented a N375.7bn budget, with N192.3bn (51 per cent) allocated for recurrent expenditure and N183.4bn (49 per cent) for capital expenditure.

Additionally, Cross River State Governor, Bassey Otu, presented a N498bn budget, with N170bn allocated for recurrent expenditure, representing 34 per cent of the total. The bulk of the budget, N328bn, is focused on capital expenditure, aimed at supporting infrastructure growth.

In Akwa Ibom, the state’s executive council approved a N955bn budget, with N300bn set aside for recurrent expenditure and N655bn for capital projects. This was disclosed in a statement issued by the state Commissioner of Information, Ini Ememobong after the council’s meeting presided over by Governor Umo Eno, on Wednesday.

Delta State Governor, Sheriff Oborevwori, presented a N936bn budget, allocating N348bn for recurrent expenditure and N587bn for capital expenditure.

Governor Caleb Mutfwang of Plateau State presented a budget estimate of about N471.1bn to the State House of Assembly for the 2025 fiscal year on Monday. In Plateau State, Governor Mutfwang proposed a N471.1bn budget, with N201.5bn allocated for recurrent expenditure, representing 43.46 per cent of the total budget. The capital budget estimate is N258.8bn, representing 56.54 per cent of the total budget.

Governor Dikko Radda of Katsina State on Monday presented the State’s 2025 Budget Proposal to the state House of Assembly. Katsina’s recurrent expenditure stands at N157.97bn, representing 23.15 per cent of the total budget, while capital expenditure is N524.27bn, representing 76.85 per cent of the budget.

Commenting, the Chief Executive Officer of Cowry Treasurers Limited, Charles Sanni, shared his insights, “The huge budgeted recurrent expenditures speak to the fact that little is available for capital projects. This will lead to capital investment rationing. A low capital expenditure budget simply tells us that not much growth and contribution to GDP will be expected because only significant capital budgets will promote economic, human, and social investments.”

He further suggested two primary options for improving the financial health of the states: “Cost optimisation—stop leakages, adopt strict budget control measures, and cut down on the size or cost of personnel, particularly political aides—and increasing internally generated revenue through more public-private partnership deals, multilateral organizations’ direct budget financing support, and diaspora engagement for special projects funding.”

An economist and investment specialist, Vincent Nwani, also weighed in, by stating that “the budget is small; some Nigerian universities’ annual budgets are even larger. It is too small for any significant development, and for infrastructure, it is still a small amount.

“What’s worse is that a large portion of the capital is being used for non-productive purposes, such as buying cars, instead of funding long-term projects that can drive economic growth. There are issues of corruption and a lack of transparency that need to be addressed. The states need to start generating more income to meet their obligations, as they have borrowed before and need to repay.”

The PUNCH reports that economic stakeholders have projected that the 2025 proposed budget of N47.9tn may underperform due to its bullish assumptions.

The Association of Bureaux De Change of Nigeria has announced that the Central Bank of Nigeria (CBN) has granted a six-month extension for BDC operators to complete their recapitalisation.

The President of ABCON, Aminu Gwadebe, announced this development yesterday during a virtual general meeting with members.

Naija News understands that due to this extension, the new deadline for recapitalisation is now set for June 3, 2025.

In May, the CBN introduced new operational guidelines for BDCs, which took effect on June 3.

These guidelines require all existing BDCs to re-apply for a new licence based on their chosen categories (Tier 1 and Tier 2 BDCs) and to meet the minimum capital requirements for the respective licence categories within six months from the effective date.

According to the guidelines, BDCs holding Tier 1 licences must maintain a capital base of ₦2 billion, while those with Tier 2 licences are required to have ₦500 million, along with non-refundable licence fees of ₦5 million and ₦2 million, respectively.

In his statement, Gwadebe noted that several BDCs have begun to comply with the CBN’s recapitalisation directive.

He further indicated that the apex bank has approved an additional six-month period for all BDCs to recapitalise their operations, extending the deadline from December 2024 to June 2025.

He said, “The CBN is willing to partner with BDCs to ensure that the recapitalisation process is seamless. We are sending a message of unity, collaboration, and opportunities to ABCON members to continue to strive to ensure they meet the new capital requirements. We thank the CBN for listening and giving us a six-month extension.”

He said the deadline applies to existing BDCs, while new operators seeking licences have an indefinite timeline to get their licences.

“I want us to brace up and see the opportunities in the recapitalisation, which are immeasurable. There are great opportunities,” Gwadabe said.

The leader of ABCON stated that the regulations set forth by the CBN authorize BDCs to obtain foreign currency from various sources, engage in the sale of foreign exchange, and establish both foreign currency and naira accounts with commercial or non-interest banks. Additionally, they are permitted to work alongside their banking partners to issue prepaid debit cards.

Present at the meeting were more than 220 CBN-licensed BDCs, members of the ABCON Council, and other relevant stakeholders.

The Nigerian Labour Congress (NLC) has stated that the latest report by the National Bureau of Statistics on the country’s unemployment rate does not reflect economic realities.

NBS in its latest report stated that Nigeria’s unemployment rate declined to 4.3 per cent in the second quarter of 2024, signalling improved labour market conditions.

According to the report, this marks a decrease from the 5.3 per cent recorded in Q1 2024 and reflects a gradual recovery from the 5.0 per cent in Q3 2023.

Reacting to the development while speaking to Punch, the National Assistant General Secretary of the NLC, Chris Onyeka, labelled the report as a “voodoo document” that fails to reflect the stark realities Nigerians face daily.

Onyeka dismissed the claim that unemployment is decreasing, calling it a “fabrication designed to mislead the public.”

He argued that it was impossible for employment to be coming down while factories were closing.

He said, “Unemployment cannot be coming down in Nigeria when factories are closing shops.

“It cannot be coming down when there is increasing inventory and reduced consumer spending. If anything, unemployment is increasing.”

He further questioned the methodology behind the NBS report, describing it as a “figment of imagination concocted by people who want to manipulate figures.”

According to Onyeka, the lack of alignment between the data and visible realities on the ground undermines the credibility of the statistics agency.

“Once data does not reflect reality, it loses relevance. Unfortunately, the NBS has lost credibility as a result of the data they continue spewing out,” he stated.

Onyeka challenged the NBS to substantiate its claims by identifying the sectors supposedly generating jobs. “Where are the jobs coming from? Is it from employers who are complaining of consumer resistance and slowing economic activities? It doesn’t add up,” he remarked.

He likened the situation to what he described as “INEC-style manipulation,” a term he used to draw parallels between perceived shortcomings in Nigeria’s election management and the NBS figures.

“Nigerians can go to court if they don’t like the figures. But the truth remains: the NBS has become a failed institution, much like INEC in the eyes of the public,” Onyeka concluded.

The Economic and Financial Crimes Commission (EFCC) has placed former Edo State Governor, Godwin Obaseki, under scrutiny as investigations into his administration’s financial activities intensify.

The anti-graft agency is reportedly examining transactions and contracts awarded during Obaseki’s eight-year tenure as governor.

Obaseki, who concluded his term on November 12, had previously alleged that the EFCC intended to arrest him immediately after he left office.

Recall that Edo State’s new governor, Monday Okpebholo, had set up a 14-member State Assets Verification Committee to review Obaseki’s administration.

Earlier, on November 2, the EFCC detained five senior officials from Obaseki’s government, including the Accountant General, Julius Anelu, over substantial withdrawals from the state treasury within a short timeframe.

Despite these developments, Obaseki has expressed his readiness to face any probe, stating on November 8 that he has no fears about the EFCC’s investigations and is prepared to account for his time in office.

However, EFCC insiders, who spoke on condition of anonymity, disclosed to The PUNCH that while investigations are ongoing, no direct link to irregularities has been established against the former governor.

“An investigation into his administration has started, but he won’t be invited until we reach an advanced stage. So far, many transactions are not directly tied to him, as he delegated responsibilities to others. Our team is pursuing leads on contracts and other transactions under his tenure,” a source explained.

Another source revealed that Obaseki, like all former governors, is automatically placed on the EFCC’s watch list to ensure they remain within reach during investigations.

“All former governors are monitored by the EFCC, regardless of active investigations. This prevents them from leaving the country while cases are ongoing,” the source added.