Newspaper of the Year
•Zakari is Acting INEC chairman as Jega bows out •Wike raises Rivers loan profile to N30b in a month •Son seeks justice for murdered former FUTA VC •Hoodlums attack witnesses at Ekiti election tribunal •Nigeria’s widest circulating newspaper
VOL. 10, NO. 3262 WEDNESDAY, JULY 1, 2015
P6 P9 P8 P7
Osun begins payment Page 8 of salary •Appointees’ pay cut by 50%
•www.thenationonlineng.net
TR UTH IN DEFENCE OF FREEDOM TRUTH
N150.00
•INSIDE: OIL WORKERS URGE NLNG TO COMPLETE TRAIN 7 P53NSE GOES TOUGH ON BROKERS P25 Okonjo-Iweala defends $2.0b ECA spending
Oando sells 60% downstream to HVI for $276m
From Nduka Chiejina, Abuja
F
By Emeka Ugwuanyi
O
ANDO Plc has entered into an agreement with HV Investments II B.V. (HVI) to acquire its downstream businesses for about US$276 million — subject to regulatory approvals and customary purchase price adjustments, including working capital. Oando’s Head, Corporate Communications, Ainoije ‘Alex’ Irune, said HV Investments is a joint venture owned by a fund advised by Helios Investment Partners and the Vitol Group. For local content reasons, the voting rights structure is that HVI and Oando will each have 49 per cent while a Nigerian Continued on page 4
•Chairman/Managing Director, ExxonMobil Nigeria, Nolan O’Neal presenting a document to President Muhammadu Buhari when he led a delegation from the oil giant to the Presidential Villa, Abuja...yesterday. With them are: General Manager, Public & Government Affairs, Paul Arinze (left) and Vice Chairman and General Counsel, Emmanuel Kachikwu.
ORMER Finance Minister Dr. Ngozi Okonjo-Iweala has denied spending $2.1 billion Excess Crude Account cash “without authorisation” and has offered to face any enquiry over the allegation. The National Economic Council (NEC) made the allegation on Monday after its meeting in Abuja. Paul Nwabuikwu, Media Adviser to Dr. Okonjo-Iweala, said ”the allegation by some governors is false, Continued on page 4
APC: Buhari on course ‘President has tackled insecurity, corruption’
BANK VERIFICATION NUMBER CHAOS
By Emmanuel Oladesu Group Political Editor
T
HE ruling All Progressives Congress (APC) yesterday reviewed the first one month of the Buhari Administration, saying the President is on course. The party noted that President Muhammadu Buhari was tackling insecurity and corruption, adding that efforts were being made to restore Nigeria’s respect in the international community. APC National Publicity Secretary Lai Mohammed, who spoke with reporters in Lagos, urged Nigerians to support the administration in its bid to chart a new path for the country. He faulted the Peoples Democratic Party (PDP)’s assessment of the administration, pointing out that it was subjective. Mohammed said: “It’s been about one month now since President Buhari assumed office and I can tell you that there has been motion, and there has been movement, contrary to what is being peddled in some quarters.” The Publicity Secretary noted that Nigerians had high expectations about the APC government, owing to the promise made
?
WILL THE CHIBOK GIRLS EVER RETURN?
by the party to halt insecurity, stamp out corruption, revive the troubled economy, provide jobs and restore hope. He said: “Justifiably, the expectations are high and urgent, and the Buhari administration has Continued on page 4
•Customers at a bank’s branch waiting to register for the Bank Verification Number (BVN) registration in Abuja...yesterday.
CBN extends BVN deadline till Oct. 31 P.5
•LIFE P15 •SPORTS P23 •MONEY P26 •INVESTORS P28 •POLITICS P45 •FOREIGN P58