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•DHQ disagrees with Chad over bombings in Borno P4 •Nine killed in South Carolina black church shooting P60 •’Money laundering’: Fani-Kayode to get verdict July 1 P6 •Gunmen assassinate Egba Chief Oyebade in Abeokuta P8 •Nigeria’s widest circulating newspaper
VOL. 10, NO. 3250 FRIDAY, JUNE 19, 2015
EFCC quizzes Ohakim, Lamido NEWS
Page 4
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Controversy hits sale of Delta Steel Plc •Presidency gets petition seeking deal’s probe A MAJOR crisis has broken out over the purported sale of Delta Steel Plc, Aladja. Premium Steel and Mines, a company owned by frontline businessman Sunil Vaswani, says it has bought the troubled steel giant, promising to inject N70 bil-
•President Buhari
By Olukorede Yishau, Asst. Editor (News)
lion in the first phase and N300 billion in the subsequent phases. But a lawyer, Chief Ajibola Aribisala (SAN), who was
appointed the receiver/manager of the company by the Asset Management Corporation of Nigeria (AMCON), yesterday urged President Muhammadu Buhari to cancel the deal which, he said, was at a great loss to the
country. Aribisala said AMCON sold the company for N28billion as against the N33billion offered by a Chinese company, China Polaris Technologies Company Ltd, which was ready to pay the
total sum at once. Vaswani, said the lawyer, offered to pay 10 per cent of the sale before 30 days after offer’s acceptance and spread the balance over eight years, with a moratorium of one year. He added that it was his refusal to Continued on page 4
•INSIDE: FOREIGN CORE INVESTOR DIVESTS FROM JULIUS BERGER NIGERIA P11
DSS grills refineries MDs in multi-billion dollar oil deals Questions over crude allocations By Our Reporter
A
NOTHER chapter was yesterday opened in the probe of the multi-billion dollar crude swap that cost Nigeria so much cash and delivered little fuel — in some cases. The probe of the Nigeria National Petroleum Corporation (NNPC) contracts has extended to the managing directors of the four troubled refineries. They are being quizzed in Abuja by security agents, who are eager to get an insight into the allocation of crude to the refineries and how crude was swapped, it was learnt last night. Those being questioned to ascertain how they have been managing the crude allocated to the refineries and what they processed are: Warri Refinery Managing Director Paul Obelley, Port Harcourt Refinery Managing Director Fred Enjugu and Kaduna Refinery chief Saidu Mohammed. They could not be reached for comments last night. The investigation, which began last month, was sparked by the need to arrest the huge cash lost through opaque contracts in which crude oil worth billions of dollars is given to traders in exchange for refined imports, mainly gasoline. The Economic and Financial Crimes ComContinued on page 4
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WILL THE CHIBOK GIRLS EVER RETURN?
•ALL FOR SMOOTH TRAFFIC: Lagos State Governor Akinwunmi Ambode pointing at something of interest during the inspection of traffic points at Oworoshoki…yesterday. With him are Secretary to the State Government Tunji Bello (second right), State Traffic Management Authority (LASTMA) General Manager Babatunde Edu (right) and former Special Adviser on Central Business District (CBD) Folarin Coker (left).
APC accuses Fayose of drawing N720m first term salary arrears Allegation ridiculous and illogical, says governor
STORY ON PAGE 8
•BRAND P13 •AGRIC P14 •SPORTS P15 •SOCIETY P41 •MONEYLINK P54 •FOREIGN P60