NNPC Limited Ends Operations as Government’s Corporation, Takes over Old NNPC’s $60bn Assets Emmanuel Addeh in Abuja The Nigerian National Petroleum Company Limited (NNPCL) yesterday officially marked
the end of its operations as a corporation after the transfer of assets worth $60 billion, as well as the takeover of liabilities from the old NNPC, as prescribed by
the Petroleum Industry Act (PIA). The company announced that having successfully crossed that legal requirement, within the stipulated 18 months in line
with section 54 (3), the ‘cutover' now means all its operations will be done in the name of NNPC Limited. Speaking at the event in Abuja,
which drew key industry players, the Group Chief Executive Officer of the company, Mallam Mele Kyari, noted that the move would ensure seamless availability of
financing for major projects as lenders are now more willing to do business with the NNPC. Continued on page 5
Irregular Migration: Saudi Arabia Arrests 800 Nigerians... Page 6 Saturday 18 February, 2023 Vol 28. No 10134
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Presidency: Buhari Not Planning to Install Interim Govt Says President looking forward to handing over to an elected successor Deji Elumoye in Abuja The Presidency has formally reacted to speculations that an
interim national government is being planned for the country ahead of the May 29, 2023 handover date, saying there is
no iota of truth in the speculation. Rather, it stated that the elections scheduled for February 25 and March 11 would go on
and winners declared in line with stipulated guidelines. The presidency’s response comes hours after Governor
Nasir el-rufai of Kaduna State said the cash scarcity following the Naira redesign policy, as well as the current petrol scarcity,
were part of a plot to ensure that the 2023 elections do not Continued on page 5
Datti Baba-Ahmed: El-Rufai’s Comments on Naira Redesign Treasonable, Not Covered By Immunity Fresh violent protests erupt in Lagos, Ogun, Oyo, Rivers Adamu holds emergency meeting with APC govs tomorrow Lawmakers insist Naira redesign policy unpopular, may frustrate elections THE Continue spending old notes, Gov Abiodun tells residents See story on page 5
CH ICE FOR F OR NIGERIA NIGERIA
GOODNIGHT CHIEF SUNDAY STEPHEN RONE... L-R: Former President, Nigeria Football Federation, Amaju Pinnick; Son of the deceased, CEO, UTM Offshore Limited, Julius Rone OFR; Speaker, Delta State House of Assembly/PDP Governorship Candidate, Sheriff Oborevwori and former President, Nigerian Bar Association, Olumide KUNLE OGUNFUYI Akpata, during the service of songs for late Chief Sunday Stephen Rone in Warri, Delta State ... yesterday.
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