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	<title>Ameh News</title>
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		<title>Emefiele Trial: Witness Says Alleged $6.23m Withdrawal Left CBN Dollar Account N2.86bn in Deficit</title>
		<link>https://amehnews.com/2026/07/04/emefiele-trial-witness-says-alleged-6-23m-withdrawal-left-cbn-dollar-account-n2-86bn-in-deficit/</link>
		
		<dc:creator><![CDATA[Benjamin A Ameh]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 13:56:15 +0000</pubDate>
				<category><![CDATA[Court & crime]]></category>
		<category><![CDATA[Money Market]]></category>
		<category><![CDATA[People & Event]]></category>
		<category><![CDATA[#GodwinEmefiele #CBN #EFCC #CourtTrial #Corruption #NigeriaNews #AbujaCourt #FinancialCrime #BreakingNews #TheAmehNews]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39310</guid>

					<description><![CDATA[<p>The trial of former Godwin Emefiele took another dramatic turn on Friday as the Federal Capital Territory High Court in Abuja heard that an alleged fraudulent withdrawal of $6.23 million from the Central Bank of Nigeria (CBN) pushed one of the apex bank&#8217;s dollar accounts into a negative balance of N2.858 billion. The testimony was&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/emefiele-trial-witness-says-alleged-6-23m-withdrawal-left-cbn-dollar-account-n2-86bn-in-deficit/">Emefiele Trial: Witness Says Alleged $6.23m Withdrawal Left CBN Dollar Account N2.86bn in Deficit</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-37464" src="https://amehnews.com/wp-content/uploads/2026/06/Court-2-1.jpg" alt="" width="1400" height="1400" srcset="https://amehnews.com/wp-content/uploads/2026/06/Court-2-1.jpg 1400w, https://amehnews.com/wp-content/uploads/2026/06/Court-2-1-64x64.jpg 64w, https://amehnews.com/wp-content/uploads/2026/06/Court-2-1-960x960.jpg 960w, https://amehnews.com/wp-content/uploads/2026/06/Court-2-1-96x96.jpg 96w, https://amehnews.com/wp-content/uploads/2026/06/Court-2-1-150x150.jpg 150w" sizes="(max-width: 1400px) 100vw, 1400px" />The trial of former Godwin Emefiele took another dramatic turn on Friday as the Federal Capital Territory High Court in Abuja heard that an alleged fraudulent withdrawal of $6.23 million from the Central Bank of Nigeria (CBN) pushed one of the apex bank&#8217;s dollar accounts into a negative balance of N2.858 billion.<br />
The testimony was given by the 15th prosecution witness (PW15), Jim Osayande Obazee, the Federal Government&#8217;s Special Investigator appointed by President Bola Ahmed Tinubu to investigate the CBN and related government business entities.<br />
Obazee testified before Justice Hamza Muazu that the funds, allegedly earmarked for foreign election observer missions during the 2023 general elections, were withdrawn from the CBN&#8217;s Abuja branch on February 3, 2023, without the mandatory naira backing required for foreign currency transactions.<br />
According to him, the transaction forced the CBN&#8217;s dollar account used for internal staff and Ministries, Departments and Agencies (MDAs) into a deficit of N2,858,150,196.42, a discrepancy he said should have immediately attracted the attention of the then CBN Governor and the bank&#8217;s chief accounting officer.<br />
The Economic and Financial Crimes Commission is prosecuting Emefiele on an amended 20-count charge bordering on conspiracy, conferment of corrupt advantage, criminal breach of trust, forgery and obtaining by false pretences involving $6.23 million.<br />
Witness Alleges Serious Internal Control Failures<br />
Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo, SAN, the witness told the court that investigators uncovered glaring weaknesses in the CBN&#8217;s internal control system during their probe.<br />
He alleged that the cash was released without proper documentation identifying the official who collected it and argued that the unusual transaction should have been reflected in the CBN&#8217;s audited financial statements and internal audit reports.<br />
Obazee further stated that the transaction ought to have been detected during the bank&#8217;s external audit conducted by Ernst &amp; Young, as well as through the CBN&#8217;s internal audit mechanisms.<br />
He also disclosed that the CBN&#8217;s Bank Verification Number (BVN) portal was reportedly non-functional for more than a month before the withdrawal, making it impossible for any recipient to complete the required identity verification before receiving such a large amount of cash.<br />
&#8220;Nobody will allow you leave the bank until the account is balanced,&#8221; the witness told the court, insisting that the transaction contained obvious discrepancies that should have been detected.<br />
Letters Allegedly Authorised Payment<br />
The special investigator testified that the investigation uncovered a chain of official correspondence authorising the release of the funds.<br />
According to him, a letter from former President Muhammadu Buhari instructed former Secretary to the Government of the Federation, Boss Mustapha, to arrange payment for election observer logistics.<br />
He added that Mustapha subsequently wrote to Emefiele introducing one Jibril Abubakar as the individual authorised to receive the money on behalf of the Federal Government.<br />
Obazee further claimed that another approval from the CBN&#8217;s Director of Banking Supervision directed the Abuja Branch Controller to release the funds to the named individual.<br />
&#8216;Funds Never Reached Intended Beneficiaries&#8217;<br />
The witness maintained that investigations found no evidence that the money eventually reached any foreign election observer mission.<br />
According to him, the funds left the CBN vault without delivering any economic benefit to either the Federal Government, the CBN or the intended beneficiaries.<br />
&#8220;The money was actually taken, but did not flow to the supposed beneficiaries,&#8221; he testified, adding that investigators found no records showing that election observers received the funds.<br />
He also alleged that the CBN official who processed the payment documents was transferred to the office of the CBN Governor just 56 days after the transaction without following established administrative procedures.<br />
Part of Funds Recovered<br />
Obazee informed the court that investigators recovered $856,500 from one Bashir Maishanu, who allegedly admitted involvement in the transaction and returned the money to the investigative team.<br />
He argued that Maishanu, alongside several other officials, including members of the CBN Board and the Abuja Branch Manager, should also face prosecution.<br />
The witness further revealed that former SGF Boss Mustapha allegedly could not explain why the controversial transaction was omitted from his official handover notes after leaving office in May 2023.<br />
Defence Challenges Testimony<br />
During cross-examination by defence counsel Matthew Burkaa, SAN, the witness acknowledged that criminal charges had already been filed against Emefiele in September 2023, before he received a presidential directive in December 2023 to investigate and identify possible offences connected with the case.<br />
He also confirmed that everyone interviewed during the investigation, including Emefiele, denied involvement or knowledge of the alleged withdrawal.<br />
Obazee disclosed that Emefiele was interviewed while in custody at the Kuje Correctional Centre.<br />
Justice Muazu also ruled during proceedings that the witness, not being a forensic document examiner, could not authenticate signatures appearing on documents tendered before the court.<br />
At the close of proceedings, the court adjourned the matter until October 20, 2026, for the adoption of final written addresses.<br />
Defence counsel informed the court that the defence intends to file a no-case submission, asking the court to dismiss the charges without requiring Emefiele to open his defence.<br />
It should be noted that the allegations remain before the court, and Emefiele has pleaded not guilty to the charges. The court will determine the merits of the case after considering all evidence presented by both the prosecution and the defence.<br />
Meta Description<br />
A prosecution witness in Godwin Emefiele&#8217;s trial told an Abuja High Court that the alleged fraudulent withdrawal of $6.23 million pushed a CBN dollar account into a N2.86 billion deficit, exposing major internal control failures.<br />
Godwin Emefiele trial, CBN fraud case, EFCC prosecution, $6.2 million withdrawal, Jim Obazee testimony, Abuja High Court, CBN investigation, Nigeria corruption case, election observer funds, CBN negative balance.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/emefiele-trial-witness-says-alleged-6-23m-withdrawal-left-cbn-dollar-account-n2-86bn-in-deficit/">Emefiele Trial: Witness Says Alleged $6.23m Withdrawal Left CBN Dollar Account N2.86bn in Deficit</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39310</post-id>	</item>
		<item>
		<title>Adedeji Pledges Full Support for PTAD, Pension Reforms</title>
		<link>https://amehnews.com/2026/07/04/adedeji-pledges-full-support-for-ptad-pension-reforms/</link>
		
		<dc:creator><![CDATA[Benjamin A Ameh]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 09:40:59 +0000</pubDate>
				<category><![CDATA[Labour]]></category>
		<category><![CDATA[Money Market]]></category>
		<category><![CDATA[Pension]]></category>
		<category><![CDATA[People & Event]]></category>
		<category><![CDATA[Press Release]]></category>
		<category><![CDATA[Tax]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39305</guid>

					<description><![CDATA[<p>The Executive Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, has reaffirmed the agency&#8217;s commitment to supporting initiatives that will strengthen Nigeria&#8217;s pension system, declaring that building credible and sustainable public institutions is fundamental to guaranteeing the retirement security of millions of Nigerian workers. Adedeji made the pledge while receiving a delegation from&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/adedeji-pledges-full-support-for-ptad-pension-reforms/">Adedeji Pledges Full Support for PTAD, Pension Reforms</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img decoding="async" class="alignnone size-full wp-image-39307" src="https://amehnews.com/wp-content/uploads/2026/07/tempFileForShare_20260704-101106.jpg" alt="" width="1079" height="1080" srcset="https://amehnews.com/wp-content/uploads/2026/07/tempFileForShare_20260704-101106.jpg 1079w, https://amehnews.com/wp-content/uploads/2026/07/tempFileForShare_20260704-101106-64x64.jpg 64w, https://amehnews.com/wp-content/uploads/2026/07/tempFileForShare_20260704-101106-960x961.jpg 960w, https://amehnews.com/wp-content/uploads/2026/07/tempFileForShare_20260704-101106-96x96.jpg 96w, https://amehnews.com/wp-content/uploads/2026/07/tempFileForShare_20260704-101106-150x150.jpg 150w" sizes="(max-width: 1079px) 100vw, 1079px" />The Executive Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, has reaffirmed the agency&#8217;s commitment to supporting initiatives that will strengthen Nigeria&#8217;s pension system, declaring that building credible and sustainable public institutions is fundamental to guaranteeing the retirement security of millions of Nigerian workers.<br />
Adedeji made the pledge while receiving a delegation from the Pension Transitional Arrangement Directorate (PTAD), led by its Executive Secretary, Mrs. Tolulope Odunaiya, during a courtesy visit to the NRS headquarters.<br />
The meeting highlighted the growing collaboration between key government institutions aimed at enhancing governance, improving service delivery, and ensuring that pension administration remains transparent, efficient, and sustainable.<br />
Speaking during the visit, Adedeji described PTAD and the National Pension Commission (PenCom) as indispensable pillars of Nigeria&#8217;s pension ecosystem, stressing that the long-term wellbeing of public servants depends on the strength and resilience of these institutions.<br />
According to him, governments that prioritize strong institutions ultimately create confidence in public service and secure the future of generations of workers.<br />
&#8220;PTAD and the National Pension Commission play a critical role in Nigeria&#8217;s pension system. Strong institutions today are essential for the long-term security of every public servant. Supporting PTAD is an investment in the future. Our goal is to help build a sustainable institution that can continue to deliver effectively on its mandate,&#8221; Adedeji stated.<br />
The NRS chairman assured the PTAD management that the revenue agency would continue to provide every support allowed by law to ensure government institutions discharge their responsibilities effectively and sustainably.<br />
He noted that inter-agency collaboration remains one of the most effective tools for driving reforms capable of improving public sector performance and restoring citizens&#8217; confidence in government institutions.<br />
Technology Driving Pension Transformation<br />
Adedeji also applauded PTAD&#8217;s remarkable progress in deploying technology to modernise pension administration, describing its digital transformation initiatives as critical milestones in improving service delivery to pensioners.<br />
He particularly commended the Directorate&#8217;s pensioner convalidation exercise and other technology-driven innovations, which have simplified verification processes, reduced administrative bottlenecks, and made pension administration faster, more transparent, and more accessible.<br />
According to him, embracing digital solutions is helping to eliminate inefficiencies while ensuring that retirees receive their entitlements with greater ease and accountability.<br />
He observed that a dependable pension system extends beyond retirees, serving as a powerful motivation for employees still in active service.<br />
&#8220;When workers are confident that their retirement benefits will be protected, they become more committed, productive and dedicated to their responsibilities. A secure pension system builds confidence in public service and strengthens national productivity,&#8221; he said.<br />
Teamwork, Leadership Critical to Institutional Success<br />
Adedeji further commended the cordial working relationship within PTAD&#8217;s management team, praising the support being provided to the Executive Secretary.<br />
He emphasized that strong institutions thrive when leadership is complemented by unity, professionalism and a shared commitment to service delivery.<br />
According to him, sustainable reforms can only be achieved when management teams work together with a common vision focused on delivering value to Nigerians.<br />
Building Institutions Nigerians Can Trust<br />
Beyond pension administration, the NRS chairman said the discussions reflected a broader national objective of building institutions capable of earning and sustaining public trust.<br />
He stressed that strengthening agencies such as PTAD is not merely about improving pension management but about promoting accountability, transparency and efficient governance across the public sector.<br />
Analysts say the renewed partnership between the Nigeria Revenue Service and PTAD comes at a time when the Federal Government is intensifying reforms aimed at strengthening public institutions, leveraging technology for better service delivery, and improving the welfare of both serving and retired public officers.<br />
The collaboration is also expected to reinforce confidence in Nigeria&#8217;s pension administration framework while supporting broader economic reforms designed to improve governance and institutional efficiency.<br />
As Nigeria continues to pursue fiscal and public sector reforms, stakeholders believe stronger cooperation among government agencies will play a pivotal role in creating a pension system that is transparent, sustainable and capable of meeting the expectations of millions of workers both today and in the future.<br />
Nigeria Revenue Service Chairman Dr. Zacch Adedeji has pledged full support for PTAD and pension reforms, stressing that strong institutions, technology-driven innovation, and collaboration are essential to securing the future of Nigerian workers and retirees.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/adedeji-pledges-full-support-for-ptad-pension-reforms/">Adedeji Pledges Full Support for PTAD, Pension Reforms</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39305</post-id>	</item>
		<item>
		<title>2027 polls: Ebonyi NDC dismisses claim of backing PDP candidate, Odii</title>
		<link>https://amehnews.com/2026/07/04/2027-polls-ebonyi-ndc-dismisses-claim-of-backing-pdp-candidate-odii/</link>
		
		<dc:creator><![CDATA[Onah Daniel Oita]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 06:45:30 +0000</pubDate>
				<category><![CDATA[Politics]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39301</guid>

					<description><![CDATA[<p>The Nigeria Democratic Congress, NDC, Ebonyi State chapter, has said it was not part of the purported claim of backing the 2027 governorship candidate of the Peoples Democratic Party, PDP, Chief Ifeanyi Odii. The party stated that the purported endorsement was allegedly being master-minded by sacked officials of the NDC in the state. Speaking to newsmen&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/2027-polls-ebonyi-ndc-dismisses-claim-of-backing-pdp-candidate-odii/">2027 polls: Ebonyi NDC dismisses claim of backing PDP candidate, Odii</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img decoding="async" class="attachment- size- wp-post-image" src="https://dailypost.ng/wp-content/uploads/2026/05/Nigeria-Democratic-Congress-NDC.jpeg" sizes="(max-width: 1071px) 100vw, 1071px" srcset="https://dailypost.ng/wp-content/uploads/2026/05/Nigeria-Democratic-Congress-NDC.jpeg 1071w, https://dailypost.ng/wp-content/uploads/2026/05/Nigeria-Democratic-Congress-NDC-300x170.jpeg 300w, https://dailypost.ng/wp-content/uploads/2026/05/Nigeria-Democratic-Congress-NDC-1024x580.jpeg 1024w" alt="" width="1071" height="607" />The Nigeria Democratic Congress, NDC, Ebonyi State chapter, has said it was not part of the purported claim of backing the 2027 governorship candidate of the Peoples Democratic Party, PDP, Chief Ifeanyi Odii.</p>
<p>The party stated that the purported endorsement was allegedly being master-minded by sacked officials of the NDC in the state.</p>
<p>Speaking to newsmen on Friday, in Abakaliki, the chairman of NDC in Ebonyi State, Hon. Enyinnaya Udensi Alum, said the party had no intention to endorse any politician other than its gubernatorial candidate.</p>
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<p>He called on all NDC faithful in the state and supporters to steer clear from the purported endorsement, adding that the move was antithetical to the tenets and principles of the party.</p>
<p>He said, “Information reaching me, Hon. Prince Alum Enyinnaya Udensi, the Ebonyi State Chairman of Nigeria Democratic Congress (NDC) is that a few former members of the party, who were sacked over financial impropriety and anti-party activities are purportedly going to endorse one of the factional governorship candidates of the PDP on behalf of the NDC tomorrow or soon after.</p>
<p>“Ebonyians, NDC members and other teaming supporters of the NDC in the state should note that the Nigeria Democratic Congress in Ebonyi State has its governorship candidate, and that the party has not and will at no time endorse any other candidate of any party other than the NDC governorship candidate.</p>
<p>“NDC members are hereby requested not to attend any such gathering as it amounts to anti-party activities, while the general public is asked to desist from dealing with the above named individuals as they are no longer NDC members and do not represent the Nigeria Democratic Congress.”</p>
<p>The post <a href="https://amehnews.com/2026/07/04/2027-polls-ebonyi-ndc-dismisses-claim-of-backing-pdp-candidate-odii/">2027 polls: Ebonyi NDC dismisses claim of backing PDP candidate, Odii</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39301</post-id>	</item>
		<item>
		<title>Ebonyi NUJ calls for issue-based campaigns ahead of 2027 elections</title>
		<link>https://amehnews.com/2026/07/04/ebonyi-nuj-calls-for-issue-based-campaigns-ahead-of-2027-elections/</link>
		
		<dc:creator><![CDATA[Onah Daniel Oita]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 06:39:14 +0000</pubDate>
				<category><![CDATA[Politics]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39295</guid>

					<description><![CDATA[<p>‎Nigeria Union of Journalists, Ebonyi State Council, has called on politicians and political actors to embrace issue-based campaigns ahead of the 2027 general elections, warning against the use of inflammatory rhetoric, character assassination, and divisive politics. ‎ ‎The call was contained in a communiqué issued on Friday at the end of the union’s congress held at Dr.&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/ebonyi-nuj-calls-for-issue-based-campaigns-ahead-of-2027-elections/">Ebonyi NUJ calls for issue-based campaigns ahead of 2027 elections</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>‎<img loading="lazy" decoding="async" class="attachment- size- wp-post-image" src="https://dailypost.ng/wp-content/uploads/2024/11/Ga1dOBxasAA3aOk.jpg" sizes="auto, (max-width: 846px) 100vw, 846px" srcset="https://dailypost.ng/wp-content/uploads/2024/11/Ga1dOBxasAA3aOk.jpg 846w, https://dailypost.ng/wp-content/uploads/2024/11/Ga1dOBxasAA3aOk-300x255.jpg 300w" alt="" width="846" height="720" />Nigeria Union of Journalists, Ebonyi State Council, has called on politicians and political actors to embrace issue-based campaigns ahead of the 2027 general elections, warning against the use of inflammatory rhetoric, character assassination, and divisive politics.</p>
<p>‎</p>
<p>‎The call was contained in a communiqué issued on Friday at the end of the union’s congress held at Dr. Sam Egwu Press Centre, Abakaliki, and presided over by the State Council Chairman, Comrade Samson Nwafor.</p>
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<p>‎</p>
<p>‎The congress urged political actors to comply with electoral guidelines and focus on policies, programmes, and ideas that would promote peace and democratic development in the state.</p>
<p>‎</p>
<p>‎On agriculture, the union expressed concern over delays in the distribution of government farm inputs and appealed to the state government to ensure timely delivery to genuine farmers to boost food production and food security.</p>
<p>‎</p>
<p>‎The congress also advised residents of flood-prone communities to adhere strictly to safety advisories issued by relevant authorities and avoid blocking drainage channels to reduce the risk of flooding during the peak rainy season.</p>
<p>‎</p>
<p>‎The NUJ appealed to Goverror Francis Nwifuru to allocate an alternative parcel of land to enable it realize its proposed journalists’ housing estate project following the revocation of its earlier allocation at the EBSU Pocket Layout.</p>
<p>‎</p>
<p>‎The journalists reaffirmed their commitment to promoting peace, responsible journalism, and sustainable development in Ebonyi State.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/ebonyi-nuj-calls-for-issue-based-campaigns-ahead-of-2027-elections/">Ebonyi NUJ calls for issue-based campaigns ahead of 2027 elections</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39295</post-id>	</item>
		<item>
		<title>Alleged sexual assault: UNIOSUN rejects Army response, initiates legal action</title>
		<link>https://amehnews.com/2026/07/04/alleged-sexual-assault-uniosun-rejects-army-response-initiates-legal-action/</link>
		
		<dc:creator><![CDATA[Onah Daniel Oita]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 06:33:16 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39291</guid>

					<description><![CDATA[<p>The management of Osun State University, UNIOSUN, has rejected aspects of the statement issued by the Depot Nigerian Army, Osogbo, concerning allegations of sexual assault reportedly involving some military personnel and members of the university community. In a statement issued on Friday by the University’s Public Relations Officer, Ademola Adesoji, the institution acknowledged the Army’s decision to&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/alleged-sexual-assault-uniosun-rejects-army-response-initiates-legal-action/">Alleged sexual assault: UNIOSUN rejects Army response, initiates legal action</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img loading="lazy" decoding="async" class="attachment- size- wp-post-image" src="https://dailypost.ng/wp-content/uploads/2026/03/UNIOSUN.jpg" sizes="auto, (max-width: 1920px) 100vw, 1920px" srcset="https://dailypost.ng/wp-content/uploads/2026/03/UNIOSUN.jpg 1920w, https://dailypost.ng/wp-content/uploads/2026/03/UNIOSUN-300x130.jpg 300w, https://dailypost.ng/wp-content/uploads/2026/03/UNIOSUN-1024x442.jpg 1024w, https://dailypost.ng/wp-content/uploads/2026/03/UNIOSUN-1536x663.jpg 1536w" alt="" width="1920" height="829" />The management of Osun State University, UNIOSUN, has rejected aspects of the statement issued by the Depot Nigerian Army, Osogbo, concerning allegations of sexual assault reportedly involving some military personnel and members of the university community.</p>
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<p>In a statement issued on Friday by the University’s Public Relations Officer, Ademola Adesoji, the institution acknowledged the Army’s decision to establish a Board of Inquiry but expressed reservations over the expectation that alleged victims should report directly to the same institution whose personnel are the subject of the allegations.</p>
<p>The University said such an approach failed to recognise the trauma, fear, intimidation and psychological barriers that often discourage survivors of sexual violence from reporting directly to institutions they may associate with the alleged perpetrators.</p>
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<p>It also rejected any suggestion that it should disclose the identities of affected students or compel them to appear before military authorities.</p>
<p>“Osun State University owes every student a duty of care, confidentiality and protection. The University will not compromise the privacy, dignity or safety of any student by disclosing identities without their informed consent or in contravention of applicable laws,” the statement said.</p>
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<p>The University reaffirmed that the welfare and safety of its students remain its highest priority, adding that the Vice-Chancellor, Professor Odunayo Clement Adebooye, would continue to support students who report harassment, assault or abuse.</p>
<p>According to the statement, “the Vice-Chancellor’s earlier comments were not intended to prejudge the outcome of any investigation or sensationalise the matter but were made in fulfilment of the University’s responsibility to address concerns affecting the safety and well-being of its students.</p>
<p>UNIOSUN maintained that investigations into allegations of sexual assault should be victim-centred, independent, transparent and capable of inspiring public confidence.</p>
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<p>“The University believes that survivors of sexual violence should never be placed in circumstances where they may reasonably fear intimidation or victimisation by being required to report directly to those connected with the subject of an investigation,” the statement added.</p>
<p>The institution also disagreed with the Depot Nigerian Army’s description of the Vice-Chancellor’s comments as unconfirmed or potentially misleading, insisting that the remarks were made responsibly, in good faith and in fulfilment of the University’s statutory and moral obligation to safeguard its students.</p>
<p>It stated that universities do not make careless statements and announced that it had instructed its legal advisers to commence appropriate legal proceedings to protect the integrity of the institution, the reputation of the Vice-Chancellor and the interests of its students.</p>
<p>“The appropriate judicial process provides the proper forum for resolving the issues arising from this unfortunate development,” the statement said.</p>
<p>the Depot Nigerian Army, Osogbo, had appealed to victims and witnesses of the soldier’s assault on the UNIOSUN hostels to provide evidence to assist the ongoing investigation into allegations of misconduct involving some recently passed-out military personnel.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/alleged-sexual-assault-uniosun-rejects-army-response-initiates-legal-action/">Alleged sexual assault: UNIOSUN rejects Army response, initiates legal action</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39291</post-id>	</item>
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		<title>Bauchi Assembly moves to amend law renaming BASUG to SAZU</title>
		<link>https://amehnews.com/2026/07/04/bauchi-assembly-moves-to-amend-law-renaming-basug-to-sazu/</link>
		
		<dc:creator><![CDATA[Onah Daniel Oita]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 06:21:38 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39288</guid>

					<description><![CDATA[<p>Bauchi State House of Assembly has commenced moves to amend the 2024 law that renamed the state-owned university from Bauchi State University, Gadau, BASUG, to Sa’adu Zungur University, SAZU. The move followed a motion presented during Friday’s plenary by the Chairman of the House Committee on Education and member representing Madara/Chinade Constituency, Hon. Dr. Nasiru Ahmed&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/bauchi-assembly-moves-to-amend-law-renaming-basug-to-sazu/">Bauchi Assembly moves to amend law renaming BASUG to SAZU</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img loading="lazy" decoding="async" class="attachment- size- wp-post-image" src="https://dailypost.ng/wp-content/uploads/2025/11/bauchi-assembly.jpg" sizes="auto, (max-width: 1200px) 100vw, 1200px" srcset="https://dailypost.ng/wp-content/uploads/2025/11/bauchi-assembly.jpg 1200w, https://dailypost.ng/wp-content/uploads/2025/11/bauchi-assembly-300x180.jpg 300w, https://dailypost.ng/wp-content/uploads/2025/11/bauchi-assembly-1024x614.jpg 1024w, https://dailypost.ng/wp-content/uploads/2025/11/bauchi-assembly-1000x600.jpg 1000w, https://dailypost.ng/wp-content/uploads/2025/11/bauchi-assembly-590x354.jpg 590w, https://dailypost.ng/wp-content/uploads/2025/11/bauchi-assembly-400x240.jpg 400w" alt="" width="1200" height="720" />Bauchi State House of Assembly has commenced moves to amend the 2024 law that renamed the state-owned university from Bauchi State University, Gadau, BASUG, to Sa’adu Zungur University, SAZU.</p>
<p>The move followed a motion presented during Friday’s plenary by the Chairman of the House Committee on Education and member representing Madara/Chinade Constituency, Hon. Dr. Nasiru Ahmed Ala.</p>
<p>Ala argued that the current law identifies the institution simply as “Sa’adu Zungur University” without indicating its location, a development he said differs from the naming convention adopted by many universities in Nigeria and across the world.</p>
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<p>According to him, several universities, including those in the North-East and North-West regions, retain references to their host communities or locations in their official names.</p>
<p>He cited institutions such as Taraba State University, Jalingo; Adamawa State University, Mubi; and Kebbi State University of Science and Technology, Aliero, among others.</p>
<p>The lawmaker also referenced internationally recognised institutions such as Oxford University, Cambridge University, the University of Melbourne and the University of California, noting that their names reflect their geographical locations.</p>
<p>Ala expressed concern that the removal of “Gadau” from the university’s name had generated controversy among residents, traditional rulers, religious leaders and other stakeholders in the education sector.</p>
<p>Members of the Assembly unanimously supported the proposed amendment.</p>
<p>Speaking during the debate, the Majority Leader, Hon. Saleh Hodi Jibir, said restoring Gadau to the university’s name would recognise the community’s contribution to the institution’s development.</p>
<p>Another lawmaker, Hon. Habibu Umar, described the proposal as timely, arguing that a university’s identity is strengthened when its location is reflected in its name.</p>
<p>Hon. Auwal Hassan also backed the amendment and urged the Assembly to expedite action on the matter.</p>
<p>Following deliberations presided over by Deputy Speaker, Rt. Hon. Jamilu Umar Dahiru, the House referred the proposal to the Committee on Education and directed it to submit its report within one week.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/bauchi-assembly-moves-to-amend-law-renaming-basug-to-sazu/">Bauchi Assembly moves to amend law renaming BASUG to SAZU</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39288</post-id>	</item>
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		<title>Lagos Fire Service begins probe into Apapa tank farm inferno</title>
		<link>https://amehnews.com/2026/07/04/lagos-fire-service-begins-probe-into-apapa-tank-farm-inferno/</link>
		
		<dc:creator><![CDATA[Onah Daniel Oita]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 06:16:38 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39284</guid>

					<description><![CDATA[<p>Lagos State Fire and Rescue Service has commenced an investigation into the fire outbreak that occurred at the Bono Energy Terminal in the Coconut area of Apapa, Lagos. The agency’s spokesperson, Shakiru Amodu, had earlier confirmed the incident in a brief statement issued on Friday. Providing further details, the Controller General of the LSFRS, Margaret Adeseye,&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/lagos-fire-service-begins-probe-into-apapa-tank-farm-inferno/">Lagos Fire Service begins probe into Apapa tank farm inferno</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img loading="lazy" decoding="async" class="attachment- size- wp-post-image" src="https://dailypost.ng/wp-content/uploads/2020/04/Lagos-State-Fire-Service.jpg" sizes="auto, (max-width: 1280px) 100vw, 1280px" srcset="https://dailypost.ng/wp-content/uploads/2020/04/Lagos-State-Fire-Service.jpg 1280w, https://dailypost.ng/wp-content/uploads/2020/04/Lagos-State-Fire-Service-300x169.jpg 300w, https://dailypost.ng/wp-content/uploads/2020/04/Lagos-State-Fire-Service-1024x576.jpg 1024w" alt="" width="1280" height="720" />Lagos State Fire and Rescue Service has commenced an investigation into the fire outbreak that occurred at the Bono Energy Terminal in the Coconut area of Apapa, Lagos.</p>
<p>The agency’s spokesperson, Shakiru Amodu, had earlier confirmed the incident in a brief statement issued on Friday.</p>
<p>Providing further details, the Controller General of the LSFRS, Margaret Adeseye, disclosed that the blaze was successfully brought under control at about 2 p.m.</p>
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<p>According to her, the fire involved a five-million-litre Automotive Gas Oil, AGO, storage tank that erupted in flames around noon.</p>
<p>Adeseye explained that emergency responders were immediately mobilised to the scene following the distress alert, adding that the coordinated operation prevented the incident from escalating and no casualty was recorded.</p>
<p>“The Lagos State Fire and Rescue Service successfully contained and extinguished a fire outbreak involving a storage tank at the Bono Energy Terminal situated within the Ibru Jetty Complex along the Apapa–Oworonshoki Expressway near Coconut Bus Stop, Olodi Apapa,” she said.</p>
<p>She added that the emergency was reported at approximately 12:04 p.m. on Friday, July 3, 2026, after which firefighters from the Ajegunle, Sari Iganmu and Isolo fire stations were deployed to the location, arriving at about 12:16 p.m.</p>
<p>“The incident involved a five-million-litre AGO storage tank which had been engulfed by fire,” she stated.</p>
<p>Adeseye noted that the swift response by firefighters, in collaboration with emergency teams from neighbouring oil and gas facilities, ensured that the fire was completely extinguished by 1:54 p.m.</p>
<p>She stressed that the timely intervention stopped the flames from spreading to nearby storage tanks and critical infrastructure within the facility.</p>
<p>“Through coordinated and professional firefighting operations, the fire was successfully curtailed, thereby preventing a larger industrial disaster and reducing the scale of potential losses. Fortunately, no casualty was recorded,” she added.</p>
<p>The LSFRS boss further disclosed that the exact cause of the fire had not yet been established, noting that investigations were ongoing.</p>
<p>The incident came hours after another emergency situation involving a leaking Liquefied Petroleum Gas tanker was successfully contained at Owode Elede inward Onirin along Ikorodu Road.</p>
<p>The Lagos State Emergency Management Agency, LASEMA, had earlier confirmed that the gas tanker developed a mechanical fault in the early hours of Friday, prompting emergency responders to intervene and avert a possible disaster without any casualty.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/lagos-fire-service-begins-probe-into-apapa-tank-farm-inferno/">Lagos Fire Service begins probe into Apapa tank farm inferno</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39284</post-id>	</item>
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		<title>Benin, Togo, Niger owe Nigeria N17.45bn electricity debt</title>
		<link>https://amehnews.com/2026/07/04/benin-togo-niger-owe-nigeria-n17-45bn-electricity-debt/</link>
		
		<dc:creator><![CDATA[Onah Daniel Oita]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 06:10:56 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39280</guid>

					<description><![CDATA[<p>Electricity customers in Togo, Benin and the Niger Republic owed Nigeria about N17.45bn for power supplied in the first quarter of 2026 after remitting only 27.57 per cent of the $17.48m billed to them during the period, findings by The PUNCH from the latest report of the Nigerian Electricity Regulatory Commission have shown. The report&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/benin-togo-niger-owe-nigeria-n17-45bn-electricity-debt/">Benin, Togo, Niger owe Nigeria N17.45bn electricity debt</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img decoding="async" class="post-image allure-optimized-img alignleft" src="https://punchng.com/wp-content/uploads/2026/06/electricity_1782688894.webp" sizes="(max-width: 297px) 100vw, 297px" srcset="https://punchng.com/wp-content/uploads/2026/06/electricity_1782688894.webp 297w, https://punchng.com/wp-content/uploads/2026/06/electricity_1782688894-255x145.webp 255w, https://punchng.com/wp-content/uploads/2026/06/electricity_1782688894-150x85.webp 150w, https://punchng.com/wp-content/uploads/2026/06/electricity_1782688894-60x34.webp 60w" alt="Electricity" />Electricity customers in Togo, Benin and the Niger Republic owed Nigeria about N17.45bn for power supplied in the first quarter of 2026 after remitting only 27.57 per cent of the $17.48m billed to them during the period, findings by The PUNCH from the latest report of the Nigerian Electricity Regulatory Commission have shown.</p>
<p>The report showed that the three international bilateral customers collectively paid $4.82m out of the $17.48m invoiced by the Market Operator, leaving an outstanding debt of $12.66m, equivalent to about N17.45bn at an exchange rate of N1,378 to the dollar.</p>
<p>The development came despite Nigeria’s continued electricity exports to neighbouring West African countries under bilateral power supply agreements with generation companies operating in the Nigerian Electricity Supply Industry.</p>
<p>The debts recur every quarter, contributing to the liquidity crisis in the power sector. According to the commission, the international customers recorded significantly weaker payment performance than domestic bilateral customers, who remitted 95 per cent of their invoices during the same period.</p>
<p>“The three international bilateral customers being supplied by GenCos in the NESI made a payment of $4.82m against the cumulative invoice of $17.48m issued by the Market Operator for services rendered in 2026/Q1, translating to a remittance performance of 27.57 per cent,” the NERC quarterly report stated.</p>
<p>A breakdown of the payments showed that Paras-SBEE, which supplies electricity to the Benin Republic, failed to make any payment against its $1.94m invoice, recording a zero per cent remittance performance.</p>
<p>Another bilateral customer, Paras-CEET, supplying electricity to Togo, also paid nothing despite receiving an invoice of $1.67m for electricity supplied during the quarter. Transcorp-SBEE (Ughelli), another supplier to the Benin Republic, remitted only $0.90m out of its $4.20m invoice, representing a payment performance of 21.43 per cent.</p>
<p>Similarly, Transcorp-SBEE (Afam 3) paid $1.13m against its invoice of $2.90m, translating to a remittance performance of 38.97 per cent.</p>
<p>Mainstream-NIGELEC, which exports electricity to the Niger Republic, emerged as the best-performing international customer, remitting $2.79m out of its $4.45m invoice, representing a payment performance of 62.70 per cent.</p>
<p>However, Odukpani-CEET, another supplier to Togo, did not remit any payment against its $2.29m invoice, maintaining a zero per cent remittance record for the period.</p>
<p>Although the remittance performance for current invoices remained poor, the commission disclosed that some international customers made payments towards debts accumulated in previous quarters.</p>
<p>“It is noteworthy that, during Q1 2026, three international and nine domestic bilateral customers made payments of $6.64m and N2.59bn, respectively, towards outstanding MO invoices from previous quarters.</p>
<p>“Specifically, the MO received a total of $4.05m from Société Béninoise d’Energie Electrique, comprising payments for Ughelli ($3.28m) and Paras ($0.77m). In addition, $1.87m was received from Mainstream-Société Nigérienne d’Électricité (NIGELEC) and $0.72m from Paras-Compagnie Energie Electrique du Togo (CEET),” the report stated.</p>
<p>In contrast, domestic bilateral customers posted stronger payment performance during the review period. According to the commission, they paid N5.82bn out of the N6.12bn invoiced by the Market Operator, representing a remittance performance of 95 per cent.</p>
<p>“The domestic bilateral customers made a cumulative payment of N5.82bn against the invoice of N6.12bn issued to them by the MO for services rendered in 2026/Q1, translating to a 95.00 per cent remittance performance,” NERC said.</p>
<p>The report further showed that Ajaokuta Steel Company Limited and its host community continued their longstanding failure to pay electricity bills.</p>
<p>The commission disclosed that the special customer made no payment against the N676.88m invoice issued by the Nigerian Bulk Electricity Trading Plc and the N189.38m invoice issued by the Market Operator during the first quarter.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/benin-togo-niger-owe-nigeria-n17-45bn-electricity-debt/">Benin, Togo, Niger owe Nigeria N17.45bn electricity debt</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39280</post-id>	</item>
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		<title>SEC expands crypto oversight with seven new firms</title>
		<link>https://amehnews.com/2026/07/04/sec-expands-crypto-oversight-with-seven-new-firms/</link>
		
		<dc:creator><![CDATA[Onah Daniel Oita]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 06:03:03 +0000</pubDate>
				<category><![CDATA[Capital Market]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39276</guid>

					<description><![CDATA[<p>The Securities and Exchange Commission has admitted seven digital asset companies into its Accelerated Regulatory Incubation Programme, a framework designed to bring crypto and blockchain operators under formal oversight without immediately granting full operating licences. The incubation model allows Nigeria’s capital market regulator to test these operators in real market conditions before deciding on full&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/sec-expands-crypto-oversight-with-seven-new-firms/">SEC expands crypto oversight with seven new firms</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img loading="lazy" decoding="async" class="wp-image-39277 alignleft" src="https://amehnews.com/wp-content/uploads/2026/07/SEC-860x517_1782256968-490x315.webp" alt="" width="411" height="264" />The Securities and Exchange Commission has admitted seven digital asset companies into its Accelerated Regulatory Incubation Programme, a framework designed to bring crypto and blockchain operators under formal oversight without immediately granting full operating licences.</p>
<p>The incubation model allows Nigeria’s capital market regulator to test these operators in real market conditions before deciding on full authorisation, the digital asset watchdog said on its website on Friday.</p>
<p>The commission revealed that the firms had been granted approval in principle, enabling them to operate within defined limits while undergoing assessment for compliance with regulatory, governance and risk management standards.</p>
<p>The companies admitted into the programme are Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd and Blockvault Custodian Ltd.</p>
<p>The SEC said the incubation scheme forms part of its broader effort to formalise Nigeria’s fast-growing digital asset sector, which has expanded despite periods of regulatory uncertainty and previous restrictions on financial institutions’ exposure to cryptocurrencies.</p>
<p>Under ARIP, participating firms are allowed to operate in a supervised environment while the regulator evaluates their operations, including asset custody practices and safeguards against fraud, market abuse and operational failures.</p>
<p>“These entities would receive the Commission’s approval-in-principle, permitting them to operate within the defined scope of the Programme and subject to conditions stipulated by the Commission. An approval-in-principle confirms that an entity has satisfied the Commission’s admission requirements for the Programme,” the regulator said.</p>
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<p>The commission stressed that approval-in-principle does not constitute a full licence and should not be interpreted as regulatory endorsement. Final authorisation will depend on firms meeting additional conditions during the incubation process.</p>
<p>The latest admissions build on the SEC’s earlier inclusion of Quidax and Busha in August 2024, signalling a continued push to establish a structured licensing pathway for digital asset service providers in Nigeria.</p>
<p>The regulator said it remains committed to supporting innovation that enhances efficiency, transparency, financial inclusion and sustainable growth in the capital market.</p>
<p>“Through initiatives such as ARIP, the SEC continues to encourage responsible technological advancement alongside investor protection guardrails and market discipline,” it said. “Members of the investing public are strongly advised to verify the regulatory status of anyone promoting investment products or services through the Commission’s official channels before engaging.”</p>
<p>Nigeria’s tightening of oversight in the crypto sector follows the exit of Binance from the country, a development widely seen as a turning point in enforcement actions against digital asset platforms. Authorities had previously accused Binance of contributing to pressure on the naira, allegations that intensified scrutiny of crypto trading activity and accelerated regulatory reforms.</p>
<p>Since then, regulators have moved to strengthen oversight through stricter registration requirements, re-registration of operators, and tighter licensing conditions aimed at bringing all market participants under formal supervision.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/sec-expands-crypto-oversight-with-seven-new-firms/">SEC expands crypto oversight with seven new firms</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">39276</post-id>	</item>
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		<title>NNPC begins evaluation of Chinese refinery partnership deal</title>
		<link>https://amehnews.com/2026/07/04/nnpc-begins-evaluation-of-chinese-refinery-partnership-deal/</link>
		
		<dc:creator><![CDATA[Onah Daniel Oita]]></dc:creator>
		<pubDate>Sat, 04 Jul 2026 05:53:33 +0000</pubDate>
				<category><![CDATA[Oil and Gas]]></category>
		<guid isPermaLink="false">https://amehnews.com/?p=39272</guid>

					<description><![CDATA[<p>The Nigerian National Petroleum Company Limited has said the recently signed Memorandum of Understanding with Chinese firms for the rehabilitation and operation of the Port Harcourt and Warri refineries has entered a rigorous evaluation phase, insisting that the arrangement is aimed at creating profitable and self-sustaining refining assets. The Group Chief Executive Officer of NNPC&#8230;</p>
<p>The post <a href="https://amehnews.com/2026/07/04/nnpc-begins-evaluation-of-chinese-refinery-partnership-deal/">NNPC begins evaluation of Chinese refinery partnership deal</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img decoding="async" class="post-image allure-optimized-img" src="https://punchng.com/wp-content/uploads/2026/06/NNPCL.webp" sizes="(max-width: 700px) 100vw, 700px" srcset="https://punchng.com/wp-content/uploads/2026/06/NNPCL.webp 700w, https://punchng.com/wp-content/uploads/2026/06/NNPCL-300x172.webp 300w, https://punchng.com/wp-content/uploads/2026/06/NNPCL-313x179.webp 313w, https://punchng.com/wp-content/uploads/2026/06/NNPCL-640x367.webp 640w, https://punchng.com/wp-content/uploads/2026/06/NNPCL-255x146.webp 255w, https://punchng.com/wp-content/uploads/2026/06/NNPCL-150x86.webp 150w, https://punchng.com/wp-content/uploads/2026/06/NNPCL-60x34.webp 60w" alt="NNPC" />The Nigerian National Petroleum Company Limited has said the recently signed Memorandum of Understanding with Chinese firms for the rehabilitation and operation of the Port Harcourt and Warri refineries has entered a rigorous evaluation phase, insisting that the arrangement is aimed at creating profitable and self-sustaining refining assets.</p>
<p>The Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, disclosed this in a post on his official X handle on Friday, amid growing calls from petroleum marketers and operators for the Federal Government to fast-track discussions to finally restore the country’s troubled state-owned refineries to full operation.</p>
<p>Ojulari said reviving Nigeria’s refineries required more than simply replacing equipment and carrying out repairs. “Fixing a refinery takes more than pipes and pumps. It takes the right partners. That’s the thinking behind the MoU recently signed for the Port Harcourt and Warri refineries, now moving into a rigorous evaluation phase,” he stated.</p>
<p>The NNPC boss said the company was pursuing a strategic shift towards a performance-based business partnership model that would guarantee long-term sustainability rather than temporary fixes.</p>
<p>According to him, the new approach is “built for profitable and self-sustaining refineries.” He clarified that the memorandum signed with the prospective partners should not be mistaken for a final agreement.</p>
<p>“A strategic shift towards lasting results. Introducing a performance-based business partnership model, built for profitable and self-sustaining refineries. Evaluation, not commitment. The MoU is an agreement to explore working together, not a binding contract,” Ojulari said.</p>
<p>He explained that the prospective partners would bear the cost of carrying out the due diligence process, a move that would ensure decisions are based on commercial realities and technical assessments. “Prospective partners are covering the full cost, which keeps the process data-driven,” he added.</p>
<p>Beyond refining, Ojulari said the partnership discussions were also expected to unlock investments across the broader energy value chain. “The vision includes expanding the petrochemicals value chain and investing in gas-based industries, including new methanol plants. Real change isn’t announced once. It’s built through discipline applied consistently, at every stage, until it becomes how things are done,” he stated.</p>
<p>The comments came weeks after NNPC signed a memorandum of understanding with a consortium of Chinese companies to explore the rehabilitation and potential co-management of the Port Harcourt and Warri refineries under a new business model.</p>
<p>On April 30, 2026, NNPC Ltd signed a Memorandum of Understanding with two Chinese firms—Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd.</p>
<p>The arrangement is expected to bring in technical expertise, financing support, and operational efficiency in a bid to halt years of losses and repeated shutdowns at the facilities.</p>
<p>The Port Harcourt Refining Company consists of two plants with a combined installed capacity of 210,000 barrels per day, while the Warri Refining and Petrochemical Company has a nameplate capacity of 125,000 barrels per day. The facilities, alongside the 110,000-barrels-per-day Kaduna refinery, have consumed billions of dollars in rehabilitation expenses over the years but have struggled to operate sustainably.</p>
<p>The Federal Government approved massive rehabilitation programmes for the refineries in recent years. The Port Harcourt refinery briefly resumed operations before suffering operational setbacks, while the Warri refinery also experienced repeated shutdowns after attempts to restart production.</p>
<p>The latest push by NNPC also comes as petroleum marketers have intensified calls for the government to conclude negotiations with competent international partners capable of transforming the refineries into commercially viable businesses.</p>
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<p>The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, recently urged the Federal Government and NNPC to expedite discussions with the Chinese firms, saying Nigeria could no longer afford to keep spending huge sums on refinery rehabilitation without achieving sustainable production.</p>
<p>According to marketers, bringing in experienced technical partners could significantly reduce Nigeria’s dependence on imported petroleum products and strengthen the country’s energy security.</p>
<p>Operators also believe the success of the initiative could complement supplies from the Dangote Petroleum Refinery and other modular refineries, creating a more competitive domestic refining market and reducing pressure on foreign exchange used for fuel imports.</p>
<p>The outcome of the ongoing evaluation process could determine whether Nigeria’s long-running efforts to revive its state-owned refineries finally yield results or become another chapter in the country’s troubled refining history.</p>
<p>The post <a href="https://amehnews.com/2026/07/04/nnpc-begins-evaluation-of-chinese-refinery-partnership-deal/">NNPC begins evaluation of Chinese refinery partnership deal</a> appeared first on <a href="https://amehnews.com">Ameh News</a>.</p>
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