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Navy Stops Theft of N2bn Petroleum Products in 12 Days

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By Adedapo Adesanya

The Nigerian Navy has stopped the theft of petroleum products worth almost N2 billion (precisely N1.992 billion )between June 1 and 12, 2022.

The spokesman of the agency, Mr Commodore A. Ayo-Vaughan, stated this in a press release, saying this was part of Operation Dakatar Da Barawo (OPDDB).

According to the statement, “On June 1, 2022, Nigerian Navy Ship (NNS) PATHFINDER at Rivers State conducted a swamp buggy operation in some identified IRS during which 13 refining ovens, 6 reservoirs and 2 storage tanks were destroyed. Additionally, the IRS operators had abandoned 2 gas cylinders and fled at the sight of the Navy. The gas cylinders were handled appropriately. Similarly, NNS DELTA at Warri located and deactivated an IRS within a creek around Omadino Community in Warri South LGA of Delta State. The site had 7 ovens, 8 metal storage tanks and 2 pits cumulatively laden with about 3,000 litres of suspected stolen crude oil and about 6,000 litres of suspected illegally refined AGO. The site and products were neutralized appropriately. Also, 4 pumping machines and one 40hp outboard engine was recovered from the site.

“Also, on June 2, 2022, NNS SOROH arrested 2 trucks laden with suspected illegally sourced sludge at Opolo area in Yenagoa. The trucks were enroute Koko in Delta State without valid documents and approvals. A total of 5 suspects were therefore apprehended and in custody for later hand over for prosecution.

“Similarly, on June 3, 2022, NNS PATHFINDER discovered several IRS at Bukuma in Degema Creek and Creek 6 in Rivers State. There were 6 storage tanks and 3 massive pits filled with unspecified quantity of AGO and crude oil respectively. These were all neutralized.

“Furthermore, on June 5, 2022, NNS DELTA deactivated an IRS at Tebijo in Warri South-West LGA of Delta State. The IRS had 6 ovens, 11 metal storage tanks and 2 pits cumulatively filled with about 80,000 litres of stolen crude oil and about 150,000 litres of illegally refined AGO. Also, about 3,000 litres of illegally refined AGO in stored/hauled in sacks were destroyed. Likewise, 2 pumping machines were recovered and handled appropriately.

“Meanwhile, on June 6, 2022, NNS DELTA raided an IRS around Ikantu bush in Warri South-West LGA of Delta State. During the raid, 15 storage tanks, 3 ovens and 2 pits collectively filled with about 70,000 litres of illegally refined AGO and about 250,000 litres of stolen crude oil were all destroyed. Further exploitation of the area led to the discovery of another IRS around Ekpugbene Creek in Warri South-West LGA of Delta State. The site had 2 ovens, 7 metal storage tanks and one pit all filled with about 65,000 litres of illegally refined AGO and 80,000 litres of suspected stolen crude oil. Also, 3 oxy-acetylene cylinders and one pumping machine were discovered at the site. Accordingly, the site was deactivated while the 3 gas cylinders and one pumping machine were recovered from the site. Relatedly, an IRS adjacent to the location which had 15 ovens, 8 metal storage tanks, 5 surface storage tanks and one pit collectively, containing about 360,000 litres of illegally refined AGO and 225,000 litres of stolen crude oil were destroyed accordingly.

“On June 7, 2022, NNS SOROH at Yenagoa, arrested 3 fibre boats (1 x 115hp and 2 x 75hp) and each boat operator at Ekpetiama in Amassoma Community. The boats were cumulatively laden with about 10,000 litres of illegally refined AGO. The boats and suspects were subsequently taken into custody. Similarly, NNS PATHFINDER uncovered an illegal crude oil loading point at Cawthorne Channel 2, Off new Calabar River. Several wooden boats were apparently siphoning/stealing crude oil from a well head within the vicinity. It was further discovered that the supply point serves as the major source of crude oil for the notorious ‘Market Square’.

“Accordingly, the identified illegal cooking camps and wooden ‘Cotonou’ boats were deactivated. Thereafter, the Base established a waterborne guard post at the point, while awaiting the arrival of NNPC technical experts to secure the well head to prevent further loss/theft.

“Furthermore, on June 8, 2022, NNS DELTA located an IRS around Ajigbera Creek in Warri South-West LGA of Delta State. The site had 13 metal storage tanks and 9 ovens cumulatively laden with about 60,000 litres of suspected illegally refined AGO and about 100,000 litres of suspected stolen crude oil. Accordingly, the sites were deactivated while 4 pumping machines were recovered to the Base.

“Relatedly, on June 9, 2022, NNS DELTA raided a previously deactivated IRS at Ovuleye in Warri South-West LGA of Delta State along Egwa Creek. The IRS was observed to be active and illegal refining activities had re-commenced. The IRS had 10 ovens, 8 metal storage tanks and 6 surface storage tanks collectively, laden with about 250,000 litres of illegally refined AGO and 150,000 litres of stolen crude oil. Also, 3 pumping machines were discovered at the site.

“The IRS was again, deactivated and the products were handled appropriately. On the same day, NNS PATHFINDER discovered 2 massive wooden boats at Creek 6 in Kalibiama laden with an unspecified quantity of suspected stolen crude oil. The large wooden boats and the products were handled appropriately. Additionally, 2 large pumping machines were confiscated at the scene and brought back to own location for safe custody.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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UBA’s Abiodun Coker Wins Future Leader in Media Management Award

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Abiodun Coker

By Modupe Gbadeyanka

The Media and External Relations Lead of United Bank for Africa (UBA) Plc, Mr Abiodun Coker, has been crowned the Future Leader in Media Management.

He clinched this award at The Industry Summit/Awards held on Friday, May 2, 2025, in Lagos, with several persons from across all sectors in attendance.

Mr Coker’s recognition further cements his growing reputation as one of Nigeria’s most dynamic and future-ready communications leaders, with his eyes firmly set on redefining the media management landscape.

The award jury, chaired by Mr Tolulope Ogunjobi, a renowned broadcast business correspondent and Business Editor at TVC News, said Mr Coker was bestowed with the honour because of his exceptional achievements in the public relations field during the year 2024.

The team said one of them was his masterful handling of UBA’s 2024 rights issue, which successfully closed on December 24, 2024, and the impactful execution of the bank’s 75th Anniversary Campaign, both of which were described as commendable and exceptional.

According to the jury, his management of UBA’s media ecosystem during the year under review was remarkable, with several media professionals praising his public relations craftsmanship and ability to skilfully manage the image of one of Africa’s most formidable financial brands.

“Abiodun Coker’s achievements in 2024 are a beacon for greater accomplishments ahead. He is undoubtedly one of the strategic communication experts to watch in 2025,” the jury noted.

A seasoned professional, Mr Coker’s journey from an acclaimed financial journalist at BusinessDay Newspapers to a powerhouse in corporate communications has been nothing short of inspiring.

With over eight years of robust journalism experience, coupled with leadership roles at top-tier public relations firms such as BD Consult Ltd and Quadrant, he has consistently demonstrated his ability to transform and manage leading brands successfully.

Organized by The Industry Newspaper, the leading brand marketing publication in West Africa, the prestigious awards recognize outstanding professionals shaping the future of brand marketing and communications across the region.

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FG Reassures Investors More Enabling Investment Climate

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By Adedapo Adesanya

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reiterated the federal government’s commitment to fostering a more enabling investment climate, anchored on macroeconomic stability, structural reform, and a clear pathway to inclusive prosperity.

He gave this assurance at a high-level private dinner, organized by Kuramo Capital Management Lagos as part of Africa Venture Capital Week.

The Minister lauded Kuramo Capital and its partners for their steadfast belief in Africa’s promise and highlighted the alignment between private capital and Nigeria’s renewed hope reform agenda.

According to a statement, participants recognized the vital role of blended finance and innovation in driving sustainable development.

The event brought together a distinguished group of global investors, development partners, and business leaders for a candid exchange on unlocking long-term capital for Africa’s growth and transformation.

It also marks Kuramo Capital’s first formal convening in Nigeria in several years, underscoring a renewed sense of commitment to deepening its strategic footprint across the continent.

Mr Edun said with this renewed commitment, the federal government is poised to unlock new opportunities for economic growth, investment, and inclusive prosperity.

He also called for more investment into the country, assuring participants that the right mechanisms are being put in place towards driving Nigeria’s development and improving the lives of its citizens.

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FG Moves to Fast-Track Household Cash Transfer Scheme

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By Adedapo Adesanya

The federal government is fast-tracking the implementation phase of its economic and financial inclusion strategy aimed at improving access to economic opportunities for Nigerians.

This was disclosed by the Deputy Chief of Staff to the President, Mr Ibrahim Hadejia, at the inaugural meeting of the Technical Committee of the Presidential Committee on Economic and Financial Inclusion (PreCEFI).

He said that “Financial inclusion is not just about having a bank account—it means access to quality services, credit, and the visibility that digital platforms offer.”

The meeting was held at the Presidential Villa, Abuja, on Wednesday.

The federal government established an inter-agency task force to address challenges delaying President Bola Tinubu’s approved conditional cash transfers to 15 million vulnerable households.

The task force includes the National Identity Management Commission (NIMC), National Social Safety-Nets Coordinating Office, National Cash Transfer Office (NCTO), Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement System (NIBSS).

The mandate of the taskforce goal is to unlock bottlenecks and fast-track the distribution of critical financial support to Nigeria’s most vulnerable.

The meeting also endorsed steps to work with state governments in localising data from the Enhancing Financial Innovation and Access in Nigeria (EFInA) Access to Financial Services survey – a biennial study conducted by the EFInA.

Mr Hadejia explained that the meeting brought together high-level stakeholders from government agencies, financial institutions, and academia to align on the President’s vision and execution roadmap.

“We are off to a very good start. What has led to the success of what we’ve done so far is alignment and inclusive stakeholder engagement,” he said.

On hsi part, the committee’s Secretary, Mr Nurudeen Zauro, said the meeting also approved PreCEFI’s strategic roadmap and governance structure.

Mr Zauro, who is also the Technical Advisor to the President on Financial Inclusion, said ” an inter-agency committee has been established to address delays in the disbursement of conditional cash transfers to 15 million households as mandated by President Tinubu.

“We will be presenting the report to the National Economic Council and the Nigerian Governors Forum to ensure data is domesticated and acted upon at the subnational level.”

Also, Director-General of NIMC, Mrs Abisoye Coker-Odusote, explained that digital identity plays a foundational role in achieving inclusion goals.

“The beauty of the NIN is that it bridges the financial divide. It provides access to health, education, and agricultural services and strengthens national data infrastructure,” she said.

The Director of Consumer Protection and Financial Inclusion at the CBN, Mrs Aisha Isa-Olatinwo, urged the committee to focus on implementable outcomes that serve those at the base of the pyramid.

According to her, financial inclusion is one of the eight reform pillars of the President’s agenda.

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