By Adedapo Adesanya

The Nigerian Content Development and Monitoring Board (NCDMB) has lauded the Economic and Financial Crimes Commission (EFCC) for its role in recovering outstanding financial remittances due to the board from oil and gas industry operators.

The commendation came during a courtesy visit to the Port Harcourt Zonal Directorate of the EFCC by a delegation from the NCDMB, led by Mrs Maureen Obukofe, who represented the Executive Secretary, Mr Felix Omatsola Ogbe.

Mrs Obukofe recounted how the board had initiated a partnership with the EFCC in 2019 after discovering that many oil and gas operators were failing to remit the mandatory one per cent of every contract to the board, as stipulated by law.

“Over time, we realized that most of these operators were not remitting this one percent and we realized that there’s no agency well-equipped and statutorily empowered other than EFCC to help us recover these outstanding remittances,” Mrs Obukofe said.

“That was how this partnership was formed back in 2019 by the then Executive Secretary, and today, we are happy to note that the commission has recovered some monies on behalf of the Board, and I know they will still recover more. So, we’ve come to say thank you.”

She described the collaboration as pivotal in ensuring compliance with Nigerian content obligations in the oil and gas sector.

In response, the Acting Zonal Director of EFCC Port Harcourt, Mr Hassan Saidu, expressed surprise and gratitude at the gesture of appreciation from the board.

“Barrister Maureen, we are very grateful for your visit. In fact, if every organization will do what you have done, it will motivate us more,” Mr Saidu said, adding that, “I am lacking in words to describe this type of visit because it is kind of a rare visit, sending a delegation to appreciate what we have done.”

The EFCC director assured the NCDMB of the agency”s continued support in helping the board recover what is rightfully due to it and enforcing compliance within the oil and gas sector.

By Adedapo Adesanya

The Transmission Company of Nigeria (TCN) has confirmed a fire incident at the Egbin Power Plc facility in the early hours of Tuesday, August 5, 2025, affecting power supply in parts of Lagos and Ogun States.

According to a statement issued by TCN on Thursday, the fire broke out at approximately 6:30 am and damaged one of the company’s key transmission assets: a 150MVA, 330/132/33kV Inter-Bus Transformer II located at the Egbin Transmission Substation.

It noted that preliminary investigations revealed that the fire originated from a faulty 33kV current or voltage transformer (CT/VT) owned by Egbin Power Plc.

The defective equipment was connected to the 33kV side of TCN’s transformer, resulting in significant damage to the main tank of the transformer, including oil leakage and a tear in the structure.

As a result, power supply has been temporarily reduced to several critical transmission lines and substations, including the Ikorodu and Odogunyan 132/33kV substations, as well as Sagamu Lines 1 and 2, and Maryland Line 2. An estimated 47 megawatts of load was initially affected and has since been redirected to the station’s second 150MVA transformer, which is now operating under increased strain.

Business Post reports that this development has led to power deficits and load-shedding in the affected areas.

The distribution companies, Ikeja Electric (IKEDC) and Eko Electricity Distribution Company (EKEDC), have been officially notified and are managing electricity loads within their respective franchise areas.

TCN said urgent efforts are underway to source and install a replacement transformer to restore normal operations.

“We sincerely apologize for the inconvenience and assure all affected customers that we are working hard to restore normal power supply as quickly as possible,” the company stated.

By Adedapo Adesanya

The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has denied reports that he forced the chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bashir Bayo Ojulari, to resign.

In a statement on Wednesday by EFCC spokesman, Mr Dele Oyewale, the EFCC chief faulted a report from an online media,—People’s Gazette, which claimed Mr Olukoyede abducted Mr Ojulari and forced him to resign in Abuja.

The EFCC boss also demanded a retraction of the story from the online platform and a public apology within 48 hours or be ready to to argue in the court.

Mr Olukoyede said the report was uncharitable and capable of casting him in the mould of someone who has “betrayed and subverted public trust”.

Mr Olukoyede said his lawyer, Adeyinka Olumide-Fusika (SAN), had written to the online platform that “the publications and the imputations conveyed by them are so damning and cannot be ignored or treated with levity”.

He, therefore, demanded that the medium “acknowledge your wrongdoing, expressly admit that what you published and imputed against my client are false, apologise for it unreservedly and retract and pull down the stories from your newspaper website and social media handles”.

Mr Olukoyede’s lawyer warned that any failure of compliance with his instructions would result in the issuance of a “Writ in the tort of defamation to allow you to prove what your disparagement of my client’s character and reputation, especially in the way of the office he holds as Chairman of the Economic and Financial Crimes Commission.”

Despite the report, Mr Ojulari has continued his duty as the head of the state-owned company.

Earlier his week, he attended a Society of Petroleum Engineers event in Lagos where he advised Africa to come up with bankable energy projects as one of the ways of ensuring a sustainable energy future.

No comment has been provided by the Presidency or the NNPC on the issue.