NNPC Scandal: I only approved financing loans not contracts - Osinbajo

NNPC Scandal: I only approved financing loans not contracts - Osinbajo

There have been speculations that the President gave approvals for the two contracts on his sick bed in London.

Akande said he too had earlier yesterday tweeted on the same matter thus: "In response to media inquiries on the NNPC Joint Venture financing arrangements, VP Osinbajo, as Acting President, approved the recommendations after due diligence and adherence to established procedures".

Kaduna-Arewa Consultative Forum, ACF, has called on President Muhammadu Buhari to call Minister of State for Petroleum Resources, Dr Ibe Kachikwu, and Group Managing Director of Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru, to order over their public exchanges on the running of the country's petroleum affairs.

Vice-President Yemi Osinbajo has distanced himself from the claim that he approved NNPC contracts when President Muhammadu Buhari was away on medical vacatio.

"They were financing loans".

"While the President was away, the law actually provides for those authorizations".

Darjeeling: Several policemen injured in fresh clashes with GJM supporters
State tourism minister Gautam Deb said the state government was determined to establish peace in the Darjeeling hills. There should be a proper inquiry into the violence and the culprits should be booked.

El Nino has contributed to higher Carbon Dioxide levels
The research team of OCO-2 said that emission of carbon was in excess during the 2015-2016 El Niño , Los Angeles Times reported. It should be noted that emissions of carbon dioxide due to anthropogenic factors has remained at the same level.

Trent Reznor and Atticus Ross get spooky with 'Halloween' cover
But John Carpenter's new movie themes anthology will be out by then, so that would be a bit late. For his part, Carpenter is very pleased with the band's cover of his work.

Osinbajo however disassociated himself from his aide's tweets saying, "They were financing loans, joint venture loans, that have procured so in some cases NNPC ventures have to secure loans and they need the authorization to secure those loans".

However, Baru, had reacted to the allegations by the minister in a statement signed by the Group General Manager, Group Public Affairs Division, Ndu Ughamadu titled "Allegations of Lack of Adherence to Due Process in NNPC Contract Awards".

"Our memories are still fresh of the massive corruption and mismanagement that almost destroy the Nigerian Oil and Gas industry under the supervision of the former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, due to her enormous power".

"We expect the minister to start by showing an example by publicly apologizing over his leaked letter which almost brought down the integrity of the NNPC GMD, the administration of the President Muhammadu Buhari, and the Nigerian petroleum industry".

The statement added, "The recent appointments and promotions done by the GMD should be revoked and fresh appointments and promotions should be done in accordance with the provisions of the constitution and in line with Federal Character Principles".

Related Articles

  • Three people have been killed following a skydiving accident in Australia

    In a statement issued this evening, Skydive Australia said it had suspended operations at Mission Beach following the tragedy. At this stage, it is believed that two men and one woman were killed, with at least one of these people an instructor.
    UAE Ends Mission of its Ambassador to North Korea

    UAE Ends Mission of its Ambassador to North Korea

    The statement said the UAE "looks forward to a unified global front against North Korea's nuclear weapons and missile program". North Korean laborers working overseas are one of the major sources of foreign currency for Pyongyang.
    There's now a reduced-fat avocado

    There's now a reduced-fat avocado

    The company said it's all been possible by growing its avocados in special soil and climate conditions. Isla Bonita brand "light" avocado - 30% less fat, lower in calories, and a slightly lighter taste.
  • Sirius XM Holdings (SIRI) Receiving Somewhat Positive Press Coverage, Report Finds

    Among 14 analysts covering Sirius XM Holdings (NASDAQ: SIRI ), 6 have Buy rating, 1 Sell and 7 Hold. (NASDAQ: SIRI ). The total amount of shares outstanding is 1.81B, giving the company a market capitalization of about 89.76B.
    US Consumer Prices Rise 0.5% In September, Slightly Less Than Expected

    US Consumer Prices Rise 0.5% In September, Slightly Less Than Expected

    The pan-European FTSEurofirst 300 index rose 0.01 percent and MSCI's gauge of stocks across the globe gained 0.04 percent. Benchmark 10-year notes were last up 7/32 in price to yield 2.3195 percent, from 2.345 percent late on Wednesday.
    NeNe Leakes Dropped from Xscape Reunion Tour Over Rape Joke

    NeNe Leakes Dropped from Xscape Reunion Tour Over Rape Joke

    Pictured: Leakes attends VH1 Hip Hop Honors: The 90s Game Changers at Paramount Studios on September 17, 2017 in Los Angeles. She also addressed critics who questioned her gig as a "comedian" in the first place.
  • Stock in Queue: General Motors Company (GM)

    Traders and investors may be closely watching current stock levels in relation to popular moving averages such as the 200-day MA. The consensus recommendation - averaging the work of 24 analysts - of 2.8 for Ford Motor Company (F ) points to moderate case.

    Hartley gets nod for Austin from Toro Rosso

    The New Zealander has stepped up to the vacant seat after Carlos Sainz moved from Toro Rosso to Renault. Hartley becomes New Zealand's first Formula One driver since Mike Thackwell in 1984.
    Amazon Wants To Hire 120K Workers For The Holidays

    Amazon Wants To Hire 120K Workers For The Holidays

    This will help those who are suddenly out of job or needs a little extra income in the last few months of the year. Target also plans to beef up its workforce with 100,000 holiday workers and Macy's is hiring 80,000.
  • Pranab Mukherjee was better qualified than me to become PM: Manmohan Singh

    Pranab Mukherjee was better qualified than me to become PM: Manmohan Singh

    Dr Singh came into politics when the then PM Narasimha Rao invited him to join the government as the finance minister. Praising the book, Akhilesh Yadav said that it is like laying your hands on good notes before the examinations.
    Bitcoin reaches an all-time high of $5000

    Bitcoin reaches an all-time high of $5000

    This was a huge setback to the industry which led to around 30% fall in the bitcoin prices in a matter of a few days. But what is slightly less intuitive is that those supporting Bitcoin2X have to buy the currency as well.
    Iran trounce Costa Rica to top Group C after three consecutive wins

    Iran trounce Costa Rica to top Group C after three consecutive wins

    Germany started the game strong and showed the real attack German attack and Guinea conceded a freekick in the first minute. Even though it was raining, the Kochi humidity was affecting the players as they stopped for drinks at the half-hour mark.