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EFCC calls for transparency in oil sector

The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has called for full disclosures of the Joint Venture deals in the Nigerian National Petroleum Company Limited and the oil sector in general.
The EFCC boss spoke at the Legislative Transparency and Accountability Summit organised by the House of Representatives Committee on Anti-Corruption in Abuja on Wednesday.
Bawa, who was represented by the Head of Operations, EFCC, Michael Wetcas, noted that the complexities in the oil and gas industry render the sector “vulnerable and highly susceptible to money laundering.”
He commended the House for the discourse on transparency and accountability “in a sector that is indisputably the lifeline of the nation’s economy because it accounts for roughly 80 per cent of national revenue.”
According to him, the industry is characterised by several players and dealers in the supply chain, thus creating an avenue for fraud and distortions.
“This is notwithstanding the array of legislations, regulations and directives governing various aspects of the industry,” he stated.
The EFCC boss commended the National Assembly for passing the Petroleum Industry Bill, which is now an Act of Parliament, urging the lawmakers to extend their oversight function and investigation to the increasing crude oil theft in the country.
In his words, “My office is currently engrossed in the investigation of allegations of crude oil theft, in addition to fighting corruption which is epidemic in many developing oil and gas-rich countries.
“Transparency supports accountability and reduces inefficiencies. It also enhances relationships amongst stakeholders, as it boosts trust amongst society, government and companies, thereby reducing misperceptions and local tensions.
“It is, therefore, important for the government to ensure that instituted measures aimed at enhancing transparency in the oil sector include full disclosures of NNPC Joint Venture arrangements and established clear institutional responsibilities for revenue assessment, collection and report.
“The relationship between the Office of the Auditor-General for the Federation and oversight committees of the National Assembly should also be enhanced to ensure that financial, fiscal and governance challenges relating to the oil and gas sector are analysed and discussed as much as possible.
“In addition, these steps could be combined with the examination of audit reports by parliamentary committees, allowing public hearings during the review process and the submission of reports to parliament on issues addressed in audit reports. Furthermore, the role of NEITI as the watchdog of the oil and gas sector in providing actionable intelligence to law enforcement authorities cannot be overemphasised.”
Bawa pointed out that the National Assembly has a duty through its relevant committees to ensure diligent oversight of the entities and players in different sectors of the petroleum industry.
“It should not be business as usual if we hope to derive the desired value from the nation’s hydrocarbon resources,” he stated.
EFCC calls for transparency in oil sector
Headlines
Tinubu arrives Katsina to receive Buhari’s body for burial

President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.
Headlines
“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.
Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.
“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.
Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.
“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.
Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.
“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.
Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.
“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.
On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.
The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.
Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.
Headlines
King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.
In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.
King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”
He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”
Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”
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