Crude Oil Slips to Below $40 as Iran Dashes Hopes of Output Freeze Fuel shortages persist as NNPC becomes sole supplier Ejiofor Alike in Lagos with agency report Despite the pledge by Saudi Arabia to cooperate with other members of the Organisation of Petroleum Exporting Countries (OPEC) to stabilise
the oil market, the price of crude oil fell by almost three per cent yesterday after Iran dashed hopes of a coordinated production freeze in the
nearest future. Saudi Arabia and several fellow OPEC members had agreed with non-OPEC Russia to freeze output at January levels
in an attempt to prop up prices. President Muhammadu Buhari, who was in Doha, Qatar early this month, also told OPEC and non-OPEC
producers that low oil prices were no longer acceptable. During a bilateral meeting with the Emir of Qatar, Sheikh Tamim Bin Hammad Al-Thani,
Agatu Killings: FG Vows to Deal With Perpetrators… Page
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Buhari spoke on the need for the members of OPEC and Gas Exporting Countries Forum (GECF) to cooperate to stabilise the oil market for the benefit of their people. Continued on page 10
Tuesday 15 March, 2016 Vol 21. No 7628. Price: N150
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Judge Orders Release of Dasuki's Military Aide, Accuses EFCC, Army of Acting Like Dictators… Page 41
Buhari Lobbies N’Assembly on Passage of 2016 Budget Meets Senate, House Appropriation Committee chairmen Audit report: NNPC, other MDAs failed to remit N3.3tn in 2014, over N2.8bn spent on hand sanitisers to combat Ebola Bolaji Adebiyi and Omololu Ogunmade in Abuja President Muhammadu Buhari has intensified efforts to get the 2016 budget passed into law without further hitches and delay by the National Assembly. THISDAY checks yesterday revealed that Buhari, in a bid to ensure that all impediments surrounding the passage of the
budget were laid to rest, met last Wednesday with the Chairman of the Senate Committee on Appropriation, Senator Danjuma Goje, and his House of Representatives counterpart, Hon. Jibrin Abdulmumin, seeking their cooperation on the smooth passage of the Appropriation Bill. Continued on page 11
How CBN Fraudsters Were Caught Obinna Chima More facts have emerged on how the fraudsters involved in the $414,200 scam at the Central Bank of Nigeria (CBN) were arrested by security operatives. The CBN Governor, Mr. Godwin Ifeanyi Emefiele, recently suspended the Deputy Governor, Financial System Stability, Dr. Okwu J. Nnanna, and four deputy directors over the incident.
But THISDAY gathered from a reliable source in the central bank yesterday that although the fraudsters succeeded in getting $191,000 through a Dubai-based bank, while the balance of $241,200 was stopped when the CBN became aware of the fraud, the criminals went ahead to push another scam e-mail to commercial banks requesting a total of N500 million. Continued on page 10
TALKSHOP ON KEEPING THE OIL VALVES OPEN
L-R: Executive Director and Co-founder, Sahara Group, Mr. Tonye Cole; Vice-President Yemi Osinbajo; and Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, at the sixth African Petroleum Congress and Exhibition in Abuja… yesterday