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NNPCL: Group says enemies within sponsoring fake news against Ojulari
A group, Strategic Communications Centre for Defence and Security (SCCDC), has said that fake stories being published against the management of the Nigerian National Petroleum Company (NNPCL), and particularly the Chief Group Executive Officer (CGEO), Bayo Ojulari, are being sponsored by opposition politicians and other disgruntled stakeholders in the oil and gas industry.
The group also said a top management officer of NNPCL who is desperate to be appointed as the GCEO of the Company is in bed with the unscrupulous elements and therefore responsible for all the plots to tarnish the image of the organization, by extension, get at President Bola Tinubu and his administration.
An online newspaper on Sunday published a story with the title- “NNPC boss Ojulari charters private Jets for Brazil trip two months after luxury Rwanda retreat,” which alleged that NNPCL, under the leadership of its Group Chief Executive Officer, Bashir Ojulari, chartered private jets for a trip to Brazil. While saying that ‘details of the trip’ were not fully known,’ the story added that the trip comes barely two months after the same platform wrote a story on Ojulari’s Kigali travel.
Part of the story said- “Just two months after the extravagant Kigali retreat, NNPC management boss has chartered private jets to a trip to Brazil,” a top source said.Nigerian cultural tourism packages. Sources confirmed that at least five private jets were arranged to convey board members and top management to Kigali. The trip, they said, was coordinated by Abdullahi Bashir-Haske, founder of AA & R Investment Group and son-in-law to former Vice President Atiku Abubakar,” the story said.
But in a reaction, SCCDS said the story was not only false, but maliciously scripted, as part of the ongoing attempts to get at President Bola Tinubu through mudslinging of patriotic citizens he painstakingly fished out and appointed to manage strategic national assets and utilities.
The national Director of SCCDS, Bonaventure Melah, while addressing some journalists in Abuja said, Bayo Ojulari, the NNPCL boss did not travel to Brazil but is attending to serious issues on how to reposition the Oil Company.
He accused a top management officer of NNPCL of masterminding all the false stories against Ojulari and called President to intervene and bring the dangerous activities of the traitors to a halt, while also decrying what he described as gutter journalism by all-comers, who he said have invaded the noble profession, thereby making journalist look like hirelings.
“I have just read a story by an online newspaper, alleging that Bayo Ojulari chartered planes that took him and others to Brazil. Our checks reveal that this story is not only false but a malicious attempt to mudsling the NNPCL boss and in the process, diminish the great works being done by President Bola Tinubu.
“Our checks have revealed that Bayo Ojulari is in Nigeria and not in Brazil. We were also told that the NNPCL boss is fully booked this week with serious management engagements as he is neck deep working on the mandate handed to him by the President and his personal targets to reform and reposition NNPCL.
“Like the others, this latest concoction, is the handiwork of a top management staff of NNPCL who is working with opposition and some other stakeholders who are facing probe for various allegations of sharp practices in the past. They are now fighting back, using the top management officer who was part of the plundering of the Company and wants to scuttle the investigations.
“The fake news is another shouting evidence of the fact that, there is an agenda to continuously feed the public with deliberate and sustained lies against NNPCL and its new management, especially the person of Bayo Ojulari,” Bonaventure Melah said.
According to him, writing fake reports that target NNPCL and some other strategic institutions of the federal government, has become an agenda for for politicians in their desperate drive for regime change in 2027.
“For some obvious reasons, it has now become an all-comers attraction to lie on the bed, conjure whatever gibberish on NNPCL and publish it, taking advantage of social media and the worldwide web.
“Taking advantage of social media and the bastardization of journalism, even people who have no idea of what the 5Ws and 1H mean, are now parading themselves as journalists, and can write whatever they are told to, without fact-checking or a care on the injuries their false narratives can cause.
“The latest of such falsehood was published today, Sunday, August 24, 2025 by an online platform that ordinarily should be respected, if not for anything, at least for being one of the pioneer blogs in Nigeria.
“But while the so called exclusive story is currently trending online, truth is that the NNPCL boss is in Nigeria, fully engaged with activities geared towards achieving both the mandate handed to him by his employer- President Bola Tinubu and the target he set for himself- to reform the Nigerian oil and gas sub-sectors, make them fully self-sufficient, produce petrol and others products for local consumption and export, stand shoulder to shoulder with global competitors and make profit for the overall well-being of Nigeria and her citizens.
“It may be necessary to recall here that since Bayo Ojulari assumed office as the CEO of NNPCL less than five months ago, there have been several false stories concocted and spread out against him. While one can perceive the smell of beer on some of the stories, the authors of the others, easily leave traces of their sponsors who are either politicians targeting to get at President Tinubu through his high profile employees or disgruntled stakeholders, who, before this time, have been helping themselves with our Commonwealth and are now answering questions from operatives of the Economic and Financial Crimes Commission (EFCC) and other sister agencies.
“The writers of the stories and their sponsors seem to forget that President Tinubu has his eyes on all of the people he appointed into strategic leadership positions.
“Maybe we need to remind us that the President and his ‘projects implementation team’ are always in the know, where the ‘boys’ are, everyday and all the times.
“It therefore serves only as salad for mere public entertainment and satisfaction of equally jaundiced minds, to write voodoo stories meant for movie patrons and expect reasonable people to believe it,” Melah said.
He commended the NNPCL boss to keep his focus on his target goals and ensure he delivers on the mandate of President Bola Tinubu, assuring that patriotic citizens are ready at all times to defend him and his management, as long as they remain on the right track.
News
Police condemn killing of Benue MACBAN chairman
Benue State Police Command has condemned the killing of the Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Benue State chapter, Ardo Rabo Mohammed, and another man, Yakubu Isa, describing the attack as a senseless criminal act capable of undermining ongoing peace and security efforts in the state.
The victims were reportedly attacked by gunmen while returning from a security meeting along the Okwudu-Ogoli Road in Otukpo Local Government Area.
In a statement issued on Saturday, the Police Public Relations Officer, DSP Udeme Edet, said the Commissioner of Police, CP Cletus C.N. Nwadiogbu, condemned the killings and expressed condolences to the families of the deceased.
“The Commissioner of Police strongly condemns in its entirety the brutal killing of the Chairman of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Benue State chapter, Ardo Rabo Mohammed, and one Yakubu Isa, who were reportedly attacked by unknown assailants while returning from a security meeting along Okwudu-Ogoli Road, Otukpo,” the statement read.
According to the police, the command has commenced a full-scale investigation into the incident, with tactical and intelligence teams deployed to track down those responsible.
The Commissioner assured residents that the command would leave no stone unturned in ensuring the perpetrators are identified, arrested and prosecuted.
He appealed to members of the public to remain calm, avoid taking the law into their own hands, and refrain from spreading unverified information capable of escalating tensions.
The police also urged anyone with credible information that could aid the investigation to report to the nearest police station or contact the command through its emergency lines.
News
Lady identifies bandits that abducted her, leading to their arrested wth N11m recovered
Three bandits have been arrested in Benue state after a lady who they had kidnapped and released, identified them at a motor park and raised alarm.
The k!kidnappers came to Ihotu park to board a vehicle to Makurdi and were met by the lady they had earlier kidnapped and released after collecting ransom from her relatives.
They were even using a bag they collected from the girl. The girl raised the alarm, held one inside the vehicle, and two took to their heels, but were caught.
They had a ghana-must-go bag at the back of the vehicle. N11m was found inside the bag.
Following the confirmation of their identity by another lady who was also their victim, mob gathered around with the intent to beat them up and possibly set them ablaze.
But the park manager decided to invite the police and soldiers who rescued them and took them to their station.
It was later gathered that the Benue state Governor, Rev. Father Hyacinth Alia called and said he was interested in the case which made the police to take the apprehended bandits to Makurdi, the state capital.
News
Tinubu’s govt ignores IMF, draws additional loan of $2.5b from UAE
President Bola Tinubu Federal Government has drawn down $1.5bn from a $5bn financing facility arranged with the United Arab Emirates’ largest lender, First Abu Dhabi Bank, despite growing concerns from global financial institutions over the increasing use of complex derivative financing by African sovereigns.
Bloomberg reported on Friday that the latest drawdown represents the first tranche of a $5bn Total Return Swap facility approved by the National Assembly on March 31, 2026, and is expected to support the 2026 budget, finance infrastructure projects, and refinance existing debt obligations.
The report quoted people familiar with the transaction, who asked not to be identified because they were not authorised to speak to the media.
The report read, “Nigeria has accessed the first tranche of a $5bn derivatives deal with the United Arab Emirates’ largest lender, pressing ahead with a transaction that has been scrutinised for being opaque.
“The West African nation drew about $1.5bn in the last couple of weeks from a total return swap transaction with First Abu Dhabi Bank PJSC, according to people familiar with the transaction, who asked not to be identified because they were not authorised to speak to the media.”
The transaction comes at a time when Nigeria is facing higher borrowing costs in international capital markets, forcing the government to seek alternative financing arrangements to shore up its fiscal position and improve access to foreign exchange liquidity.
Under the arrangement, Nigeria is required to pledge Federal Government securities worth about 133 per cent of any amount drawn under the facility. This means that for the full $5bn facility, the government would have to post approximately $6.65bn worth of naira-denominated bonds as collateral.
In return, the Abu Dhabi-based lender provides dollar liquidity to the Nigerian government. The Federal Government will pay a floating interest rate benchmark plus about four percentage points, while the lender receives the returns generated by the underlying government securities.
The transaction effectively allows Nigeria to unlock immediate dollar funding without issuing new Eurobonds or taking on traditional external loans at prevailing market rates, which have become increasingly expensive for frontier economies.
The government has already indicated that the proceeds from the initial $1.5bn drawdown will be deployed to support budget implementation, fund critical infrastructure projects, and refinance costlier domestic and external debts.
However, the financing arrangement has attracted criticism from international financial institutions and market analysts over concerns about transparency and potential hidden liabilities.
In its June 2026 assessment of African sovereign debt markets, the International Monetary Fund warned that derivative financing structures such as total return swaps are often opaque and difficult for investors and creditors to monitor.
The IMF noted that such arrangements are “hard to track, hard to value in real time, and can obscure the true extent of a country’s financial obligations.”
Three days ago, Fitch Ratings warned that Nigeria’s planned $5bn financing arrangement with First Abu Dhabi Bank could increase sovereign debt risks and reduce transparency in public debt reporting.
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