News
Reps summon NNPC, FIRS, NIWA officials, others for alleged oil theft
In continuation of its ongoing investigation into the massive oil theft shrinking the country’s revenue in the downstream sector, the Adhoc committee of the House of Representatives investigating crude oil theft and loss of revenue from oil and gas Companies has summoned officials of the Nigerian National Petroleum Cooperation Limited (NNPCL), the Federal Inland Revenue Service (FIRS) and other government agencies in charge of oil revenue to appear before the chamber on Tuesday for further questioning.
According to reports, the House committee chaired by Rt. Hon Kabiru Alhassan Usman Rurum has in recent times begun a broad investigation following stunning allegations of massive oil theft caused by a well-coordinated conspiracy of regulatory agencies and their collaborators in the oil and gas sector.
Given the allegation that most of the Marginal Field Operators are aiding oil theft to complement shortfalls in their production, the committee has reportedly seriously beamed its searchlight on these operators.
From the submission of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), some of the Marginal Field Operators in the Country Includes, Niger Delta Petroleum Resources Limited, Prime Exploration & Production (Operator), Suffolk Petroleum Limited, Oriental Energy Resources Limited, Universal Energy Limited, Prim, e Exploration & Production (Operator), Pillar Oil Limited, Platform Petroleum Limited, Chorus Energy Limited, Millenium Oil and Gas Limited, Brittania U-Nigeria Limited, Network E&P Limited, Waltersmith Petroman Limited (Operator), Morris Petroleum Limited, Midwestern Oil and Gas Limited, Suntrust Oil Company Limited, Frontier Oil Limited, Energia Limited (Operator), Oando Production and Development Limited, Excel Exploration & Production Limited, Green Energy International Limited.
According to reports, the committee has held extensive interrogation and interaction with security agencies and will be engaging intensely the operators of the Marginal Fields, 14 Production Sharing Contract operators, and 57 Joint Venture operators in the days ahead.
Sources said that some complicit industry operators have boasted that nothing will come out from the House investigation like the previous ones before it, however, the committee chairman, Honourable Rurum, in his address during the first day of the committee’s public hearing held recently, said his committee would shock the nation with its findings and recommendations as it is committed to carrying out a thorough job whose report if implemented will put to an end the fiasco of oil theft in Nigeria.
Meanwhile, as the Adhoc committee’s investigation uncovered a seeming massive corruption and collusion of regulatory agencies at the export loading terminals, investigations showed that many arrested ocean vessels involved in massive underhand dealings had the tacit approval of the NNPC Limited.
It is believed that NNPCL has eased out regulatory agencies whose statutory responsibilities at the terminals would have checkmated massive underreporting of the actual volume of Nigerian crude oil being exported.
Honourable Rurum noted that the “Committee is also investigating the allegation that many senior serving and retired officers of the Nigerian Upstream Petroleum Regulatory Agency (Formerly DPR) are complicit because some of them may have vested interests in the Marginal Fields and the abandoned oil wells which litter the entire Niger Delta. From the reports received so far, most of the abandoned and non-decommissioned oil wells and pipelines have escalated incidences of oil theft.”
While it has been reported that circumstances surrounding the release of arrested and complicit vessels by prosecuting agencies are also looked into by the committee, Rurum stressed that the committee will not jump to conclusions on any allegation as the legislative procedure of the hearing meetings presents an opportunity to everyone to make their submission to the committee.
The Hearing of the Committee continues on Tuesday, and NNPC Limited, Nigerian Upstream Petroleum Limited, NIMASA, NIWA, NMDRA, and federal ministries in charge of finance including the FIRS and the EFCC are expected to be in attendance.
source: Nigerian Tribune
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for yesterday 11th September, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1530 and sell at N1550 yesterday 11th September 2025, according to sources at Bureau De Change (BDC). …CLICK LINK TO CONTINUE READING
The likelihood of former President Goodluck Ebele Jonathan entering the presidential race in 2027 is becoming increasingly apparent, particularly given the recent developments surrounding his potential candidacy.
Reports suggest that Jonathan is discreetly meeting with key political figures across the country, which adds to the anticipation surrounding his possible return to politics. Click link to continue reading.
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More questions have been raised over the incompetence of the power sector in the country as Nigeria as many African countries making significant strides in enhancing their power supply stability by investing in modern electricity transmission networks, advanced grid infrastructures, renewable energy sources, and natural gas.
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The Dollar to Naira exchange rate in the black market continues to highlight Nigeria’s forex supply challenges, with many individuals and businesses relying on the parallel market for transactions.
CBN maintains tighter controls and a lower rate at official windows, limited access and allocation restrictions force most importers, businesses, and students abroad to turn to the parallel market, where prices reflect actual demand and supply pressures. Click link to continue reading.
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for yesterday 10th September, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1530 and sell at N1545 yesterday 10th September 2025, according to sources at Bureau De Change (BDC). …CLICK LINK TO CONTINUE READING
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1525
Selling Rate N1535
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate N1510
Lowest Rate N1506
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Isaac Fayose, younger brother of former Ekiti State Governor Ayo Fayose, has sparked nationwide controversy after declaring that Nigeria belongs only to the Hausa and Yoruba ethnic groups.
In a viral video making the rounds on social media, Fayose dismissed the long-standing belief that Nigeria’s unity rests on a tripod of Hausa, Igbo, and Yoruba.
He claimed that the Igbos have been marginalized and not counted among the country’s dominant groups.
He stated: “They said Nigeria belongs to Hausa, Igbo, and Yoruba, but that’s a lie… take out that Igbo, stop including them because it’s a lie.”
The remarks have triggered widespread backlash, with many Nigerians accusing him of promoting ethnic hatred and fueling disunity.
Others, however, agreed with his statement, describing it as “an honest truth” about Nigeria’s politics.
Netizens Reactions…
@olaoluwasunnyman reacted: “Honest truth.”
@chefnoka said: “History will never forget you, brother. I’m not Igbo, but I love the way you speak and stand for the truth. We need it to move this nation forward.”
@newbilliy commented: “I’m Yoruba but an Igbo President will make Nigeria great. I love Igbo people and their business mindset.”
@beautyjunctiongh wrote: “God bless you, my brother, for saying the truth.”
@benedictoguama asked: “Where is Jonathan from?”
@daveiyke_donnegro stated: “@isaacfayoseoriginal_ God bless you Sir for speaking the truth. I wish other Nigerians can shun tribalism and unite for the progress of Nigeria. Tribalism us a tool against Nigerians and the unity of Nigeria. Politicians have weaponized tribalism which enables them thrive in continued political and socioeconomic incompetence.”
@realtundr4 added: “I agree with what you said, sir, but look at it, does igbo really have d right candidate? Obi is just chameleon to me he’s not real, neither do they have the leadership experience as our current president @officialasiwajubat, the one and only politician that have ever created more millionaires and successful individual in the whole nation. Make we leave hatred, JAGABAN na baba.”
@wellingtonisgreat commented: “@wellingtonisgreat said: “Nigeria belongs to everybody not hausa, yoruba, igbo, Benin have not been president before let us go? You dey talk anyhow.”
@richeart4u said: “Those that have been president, were they given free or charge? Was there a law that stopped Igbo man from being a president? How do people become a president? Or do you mean Igbo have never been allowed to contest for presidency? Same things goes to women too, why are women not hugely represented in all positions even presidency? No one is stopping anyone from becoming anything, you just have to change your strategy and alignment. You can’t be doing same thing over the years and not get the desired result and still want to stick to that failed pattern to achieve a new result. Igbo people and their candidate must be encompassing. Hausa has been aligning more to Igbo people to get whatever position they wanted and why are they not returning the favour hugely? Align to anyone that can boost your change of winning and be well accommodating and understanding the power of choices and politicking. I might be wrong 0000. Na ma small knowledge I take respond oooo.”
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