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EFCC probes Onajite Okoloko’s Eroton company over alleged fraud

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EFCC probes Onajite Okoloko's Eroton company over alleged fraud

The Economic and Financial Crimes Commission is said to be investigating Eroton Exploration & Production Company Limited, an independent oil and gas producing firmed owned by billionaire Onajite Okoloko over alleged financial impropriety.

This is even as the management of the Nigerian National Petroleum Company Limited (NNPCL) has taken over the operatorship of the Oil Mining License (OML) 18 following months of inactivity caused by a multitude of issues thought to include the diversion of funds, governance infractions, and indebtedness to JV partners.

Other reasons given for the takeover were Eroton’s inability to meet contractual obligations, inability to meet work programmes, inability to deliver on its committed Field Development plan, prolonged debt to the Federal Government, and closure of office premises by the FIRS for over a year, among others.

According to a report by The PUNCH, a top industry source disclosed that NNPCL had secured the operatorship of the asset with the backing of the Nigerian Upstream Regulatory Commission while the EFCC had stepped in to investigate allegations of financial impropriety and fraud levelled against Eroton’s management.

According to the source, the EFCC is currently securing sensitive documents and combing through financial dealings of Eroton’s operatorship of OML 18 since its inception.

The source confirmed that it was discovered that the NNPC had previously commissioned a forensic audit into Eroton’s handling of OML 18 which revealed a multitude of issues including non-payment of oil royalties, mismanagement of funds, insider dealings, using JV funds for personal debt servicing, non-remittance of taxes, technical incompetence, loss of value to Joint Venture partners and zero lifting of oil since July 2021.

These findings, among others, prompted the NUPRC to refer the situation to the EFCC for further investigation.

Although there had been issues with the NCTL pipeline, Eroton is said to owe both Shell and Aiteo over $80m in outstanding levies and all the barge operators it had hired to evacuate the crude.

The source further said, “This whole situation is quite unfortunate, especially in times like this when the government should be earning large amounts from fields like this that are capable of at least 60,000bbls p/d.”

“As we speak, the Eroton office in Victoria Island, Lagos has been sealed by the Federal Inland Revenue Service over non-remittance of taxes to the government running into tens of millions of dollars. Eroton is currently bogged down by numerous court actions including winding up litigations against the company by several parties, not to mention allegations of fraud and gross financial mismanagement. It is in the best interest of the nation that the asset has been taken over by NNPCL to facilitate the seamless restoration of operations on OML 18,” the source stated.

Our source further noted that the decision had been greeted by commendation by industry watchers and host communities who regarded the new development as a “new lease of life” considering the decrepit state of the asset under operatorship by Eroton.

“This is a step in the right direction for Nigeria and the good people of the Niger Delta that ensures OML 18 is operated in compliance with global best practices with attendant optimal and beneficial outcomes for all stakeholders,” the source added.

Located in the Eastern Niger Delta and covering a total area of 1,035 Sqkm in onshore swamp terrain, Eroton became an operator in OML 18 in 2015.

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Is Brad pitt in a long distance relationship with Marzell calko

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Brad Pitt is undoubtedly one of the most famous and successful actors in Hollywood, known for his incredible talent and good looks. Over the years, he has been linked to several high-profile women, including Angelina Jolie, Jennifer Aniston, and Gwyneth Paltrow. However, there is one secret woman Brad Pitt had crash on ,who has never been revealed to the public.

The mystery woman has been from black market who hasn’t been revealed for long time , and it is said that she is absolutely beautiful and successful .,has never revealed her identity

The secret crush has simply expressed Brad Pitt interest and attraction to Marzell Calko

Who is she?

Marzell Calko, is a Half German and half Polish. Also called the polish princess. She is a Journalist, Philanthropist, model writer, editor, face for iconic designers like Prada etc.
She graduated with a criminal law degree. Also a cofounder of one the biggest charity in Nigeria NHF, Nigeria Healthcare foundation alongside Dr. Obilo. She has participated with many charities and also help save peoples live in Ukraine during the recent war. Currently living in the USA and some part of Europe due to the nature of her job.

From the black market we also know that Marzell protects from the public her long distance relationship,

Who is the lucky guy?

Is Brad Pitt or mysterious guy steal marzell Calko heart ?

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Court restrains Ayu from acting as PDP chairman

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Court restrains Ayu from acting as PDP chairman




BREAKING: Court restrains Ayu from acting as PDP chairman







































































A High Court in Benue State has granted an interim order restraining Iyorchia Ayu from parading himself as the national chairman of the Peoples Democratic Party (PDP).

W.I Kpochi, the presiding judge, gave the order on Monday, while ruling on a motion ex parte marked MHC/633/2023, and filed by Conrad Terhide Utaan.

More to follow:

 

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You will yearn for Buhari when he leaves office, Garba Shehu tells Nigerians

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You will yearn for Buhari when he leaves office, Garba Shehu tells Nigerians

Garba Shehu, presidential spokesman has said Nigerians would yearn for President Muhammadu Buhari when he leaves office in May.

Shehu who spoke in an interview with Channels Television, lamented over the level of criticisms thrown at the president, asserting that leaders are not loved while in office.

Citing the case of Goodluck Jonathan who he said was persecuted out of office, but has now become the favorite of many Nigerians, Shehu noted that this same yearning will happen after Buhari hands over to the next president.

Speaking about the cashless policy of the Buhari administration, Shehu said it is desirable and therefore irreversible.

According to him, “cashless is the way forward for Nigeria because cashless nations and in fact, all advanced nations of the world have gone cashless”.

Acknowledging the challenges that have accompanied the change, the president’s spokesman said it is sad that the only people who should have been more pained are the ones who are inflicting pains on the lower segment of the society.

 

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