Saturday 23rd April 2016

Page 1

NNPC: Transfer of $1.8bn Oil Blocks to NPDC not Transparent Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) yesterday finally accepted that the transfer of oil blocks to its subsidiary, the Nigerian Petroleum Development Company (NPDC) valued at the cost

of $1.8 billion but for which only $100 million has so far being paid by NPDC was not transparently conducted. NNPC’s Group Executive Director (GED) in charge of Finance and Accounts, Alhaji Ishiaka Razak said at a meeting with the Nigeria Extractive Industries Transparency Initia-

tive (NEITI) that the oil blocks transaction was not transparent and requires comprehensive independent investigation. A statement from the NEITI on the outcome of the meeting made available to THISDAY last night in Abuja contained this. The statement noted that the

Chairman of NEITI’s Board, Dr. Kayode Fayemi who is also the Minister of Solid Minerals; NEITI’s Executive Secretary, Mr. Waziri Adio and Razak who represented the Group Managing Director of NNPC and Minister of State for Petroleum, Dr. Ibe Kachikwu were at the meeting.

According to NEITI, the meeting was convened to resolve the frosty working relationship between both organisations, as well as bridge the information gap between them in the execution of their respective mandates. Razak noted NNPC’s full commitment to the NEITI

process. He said the corporation would henceforth deepen its involvement at all levels of NEITI processes in the oil and gas sector. Continuing on the lingering controversy over NNPC’s transfer of the oil blocks; OMLs Continued on page 6

FG Allays Fears of State Bond Holders, To Bear Repayment Burden of Some States ...Page 6 Saturday 23 April, 2016 Vol 21. No 7661 Price: N250

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In New Jersey, Jonathan Lists His Legacies

Yemi Adebowale

Former president, Goodluck Jonathan yesterday touched on some of the legacies of his administration while speaking

to Friends of Africa Coalition on “Strengthening Democracy and Elections” at the mayor's office in Newark, New Jersey, United States. Speaking to the elite group,

Jonathan said the 2015 general elections in Nigeria had potential for major crisis and that the campaigns leading to the elections almost polarised the country into Christian v

Muslims and North v South divide. The former president said that most world leaders were worried that the elections would result into major crisis.

“Some pundits even from where the leadership question here in the United States said comes into play. “As a leader that was duly that those elections would spell the end of Nigeria and that we elected by the people, I considwould cease to exist as a nation Continued on page 6 because of the polls. That is

Saraki: My Original Sin Was Opposing Muslim/Muslim Ticket in the APC I have every reason to expect not to be persecuted by the party I contributed so much to build MAJEK FASHEK

Yemi Adebowale The President of the Senate, Dr. Bukola Saraki has, for the first time, opened up on the intrigues of his ongoing trial at the Code of Conduct Tribunal over asset declaration issues and the role of his party, the All Progressives Congress (APC), saying that his refusal to support a Muslim/Muslim ticket for the APC in the 2015 presidential election is largely responsible for his ordeal. Saraki who wrote a reply to an earlier article published last Saturday by Dele Momodu in his Pendulum column said the position he took on the running mate issue was his “original sin” and those whose ambition were truncated by the position had been doing everything possible to frustrate him. He said: “I have also been accused of helping to frustrate some people’s opportunity to emerge as President Muhammadu Buhari’s running mate. But I have no problem with anybody. My concern was that it would not be politically smart of us to run with a MuslimContinued on page 6

My Rehab was for Spiritual Rebirth

SuperSaturday pg. 8-9

EZEKIEL ANAIBE Even at 70, I’ll be More Romantic

Plus pg. 17

FACTS BEHIND THE FIGURES

L-R Executive Director/Chief Financial Officer, Union Bank Plc, Mrs Oyinkan Adewale; CEO, Nigerian Stock Exchange, Oscar Onyema; MD/CEO, Union Bank, Emeka Emuwa and Chairman, Union Bank, Cyril Odu, at the sounding of the closing gong and Union Bank's facts behind the figures ...yesterday

Buhari: Nigeria Derived No Benefit from Naira Devaluations in the Past ...Page 6


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Saturday 23rd April 2016 by THISDAY Newspapers Ltd - Issuu