A destroyed refinery By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks. Also, the company said 63 illegal pipeline connections were uncovered during the the weeks . The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge. According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation. It further said that two large boats, which involve
By Akinola Ajibade
Attempts by the Central Bank of Nigeria (CBN) to freeze the accounts of some Meter Asset Providers which it accused of diversion of power funds has been described as a double standard.
Many operators in the power sub-sector condemned the plans by CBN to freeze their accounts, accusing CBN of not following due process on the issue.
This happens, as the Nigerian Electricity Regulatory Commission (NERC) maintains is not ready to intervene on the issue, due to reasons best known to her.
Speaking on the issue, the Managing Director, Chief Executive officer, Mojec Asset Management Company Limited Mrs Chantelle Abdul, said that Central Bank of Nigeria ( CBN) of being economical with the truth on the issue of diversion of funds, allocated for the power sector by the Federal Government.
Mojec has a Meter Asset Provider ( MAP) company, which is one of the institutions,approved by the government,to help bridge the metering gap in Nigeria, by making meters available to millions of unmetered Nigerians.
She said that neither has Mojec divert any funds, not connive with any other stakeholders to do so.
Continuing further, Abdul described the action of the apex bank as a double standard, stressing that apex banking regulatory body knows those are behind such practices and does not want to expose them.
Some companies, she said, have benefited from the fund and yet refuse to execute the contract.
She said that those firms are left out of the list of those to be investigated.
“Why are those companies not mentioned, yet, those that installed meters are being haunted.”
According to her, payments for the contracts are performance-based and therefore, would get paid after the jobs have been certified good.
“The CBN still owes my company some money for meter installations done which it is yet to pay,” she said.
She said the action of CBN is inimical to the economy of the country as it may close down some businesses with many people losing their jobs.
She asked: “Did CBN carry out an investigation and discovered that we did not our jobs?
The programme, Abdul, has helped the government to achieve a lot in terms of metering houses which ordinarily would not have happened if the government was left alone with the project.
It is not only Mojec that is listed there, there are many other companies, she said.
What is the aim and objective of the Motion Exparte that the CBN filed for? Why file the case in Lokoja and not in Abuja? she asked.
She stated further that she is ready to make available to the public the installation certificates and the total number of meters Mojec has installed.
The companies affected are: Mojec Asset Mgt Company ltd, Integrated Power ltd, Holy Metering ltd, Protogy Global Services, Turbo Energy Limited, G unit Engineering, Koby Global Engineering Services ltd, FLT Energy System Limited, Smart Meters Access Provider Company Limited, Cresthill Engineering Limited.
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