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
The Central Bank of Nigeria (CBN) has debunked claims, in some quarters, that it lacked capacity to print the new naira notes, a fallout of the naira designing policy introduced and implemented by the apex regulatory banking body.
The bank, in a statement, yesterday, said that the news that the Nigeria Security Printing and Minting Company (NSPMC) does not capacity to print the new naira notes was not true.
The apex bank said: “ Our attention has been drawn to a misleading report misquoting the Governor, Mr. Godwin Emefiele, as attributing the current challenge in the distribution of the newly redesigned naira banknotes to a shortage of printing materials at the Nigerian Security Printing and Minting Company Plc.”
“We hereby state categorically that the CBN Governor, did not say anything like that during his presentation to the National Council of State at its meeting on February 10, 2023.
Our Governor, Mr. Emefiele only told the meeting was that the NSPMC was working on printing all denominations of the Naira to meet the transaction needs of Nigerians.”
The statement, which was signed by Osita Nwanisobi, Director, Corporate Communications of CBN, stated that while the CBN appreciates the concerns shown by all stakeholders about the distribution of the Naira, it is alarmed at the extent to which vested interests are attempting to manipulate facts and pitch the public against the bank
“For the avoidance of doubt, the CBN remains committed to performing its monetary policy functions, as stipulated in the CBN Act, 2007, as amended. We also wish to restate that the NSPMC has the capacity and enough materials to produce the required indent of the Naira.”
“The Bank, therefore, wishes to appeal to the public to disregard the said report and exercise more restraint, even as we work assiduously to increase the circulation of the new notes in the country.
Similarly, there is a misleading voice note trending in social media alleging that the CBN planned to shut down some banks, particularly in a particular geopolitical region of the country.
We wish to state unequivocally that there is no such plan and that the claims are illogical and do not comply with the workings of the Nigerian banking system. The public is therefore advised to ignore such recordings as they do not represent the policy thrust of the CBN and are only the desperate attempts of persons bent on inciting the public against the bank”
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