NNPC Pays IOCs $993.7m of $5.1bn Cash Call Debt Will raise $2.3bn from third parties to help cover costs Chineme Okafor in Abuja with agency report The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it had so far paid $993.7
million of the negotiated $5.1 billion cash call debt it owed International Oil Companies (IOCs) whom it is in joint ventures oil production with. It stated in a report from Reuters which THISDAY
in Abuja obtained, that the payment was as at September 2018, and it still had to make up payments of $3.95 billion to them. The state oil corporation also said in the report that it was
seeking to raise about $2.3 billion in financing from third parties, such as joint venture partners, to help cover costs. Similarly, NNPC stated it was raising $3.15 billion through a firm called SEEPCO
to develop 416 million barrels of reserves from the oil mining licence (OML) 13 field. Over the years, NNPC piled up unpaid bills in the form of cash calls, that it was obliged to pay IOCs with which it
has joint ventures for oil exploration and production. In December 2016, it got a discount of $1.7 billion from the $6.8 billion it originally Continued on page 6
Most Parts of Borno Inaccessible, 43,000 Flee Homes, Laments UN… Page 6 Saturday 19 January, 2019 Vol 23. No 8676
www.thisdaylive.com TR
UT H
& RE A S O
N250
N
Opposition Parties Raise the Alarm over Plot to Arrest Onnoghen Code of Conduct Tribunal to issue warrant of arrest on Tuesday Udora Orizu in Abuja The Coalition of United Political Parties (CUPP) yesterday alleged that the Presidency and some top
APC Chieftains are plotting to arrest the Chief Justice of Nigeria, Walter Onnoghen, on Tuesday “and replace with Justice Tanko Mohammed.” The National Spokesperson
of CUPP, Ikenga Ugochinyere, at a press conference in Abuja claimed that the Minister of Transportation, Rotimi Amaechi, “is the lead conspirator in the plot.”
Ugochinyere alleged: “Amaechi's lawyer, whose office is located at Central Area in Abuja is among those being used to carry out the deal in which Onnoghen
will be replaced with deputy Chairman of National Judicial Council, Justice Tanko Muhammed who will do the bidding of Presidency and the ruling APC.”
The CUPP spokesperson told journalists that the arrest would be carried out shortly after a bench warrant would Continued on page 6
Poll: Stop Harassing Opposition Leaders, US Congress Warns Buhari Reports of apparent crackdown extremely concerning FG moves against Atiku over collapse of Bank PHB Former VP demands for evidence Bennett Oghifo in Lagos, Omololu Ogunmade and Adedayo Akinwale in Abuja The United States Congress has warned President Muhammadu Buhari to stop the harassment of the opposition political leaders, following recent perceived crackdown on some political figures in the country. The warning by the US Congress is coming on the heels of a N156 million fraud allegation against former Vice-President and Presidential candidate of the opposition Peoples Democratic Party, (PDP) by the federal government. The UN Congress warning is contained in a bipartisan resolution urging the government of Nigeria,
along with Nigeria’s political parties, to ensure electoral accountability and transparency in the upcoming February election. A statement made available to THISDAY by Zachary Seidl of the US Congressional office, said the resolution, which has been adopted by the US Congress, was introduced on Wednesday, by Rep. Karen Bass, a top Democrat serving on the House Foreign Affairs Subcommittee on Africa, along with the Chairman of the House Committee on Foreign Affairs, Elliot L. Engel, the top Republican serving the House Foreign Affairs Subcommittee on Africa Congressman Chris Smith, Nigeria Caucus CoContinued on page 6
Court Admits Dino Melaye to Bail on Compassionate Grounds... Page 14
GOODBYE SONNY ODOGWU... L-R: Daughters of the deceased, Ms. Obiageli Odogwu and Mrs Ofunne Odogwu, the widow, Theresa Odogwu, and the son, Kenneth Odogwu, at the requiem mass for late businessman, Dr. Sonny Odogwu held at the Church of the Assumption, Falomo, Lagos… yesterday etop ukutt