Convicted NNPC Senior Official Forfeits $2.5 Million Los Angeles Mansion to U.S. Government.

Paulinus Iheanacho Okoronkwo, a senior official of the Nigerian National Petroleum Company (NNPC), has forfeited a $2.5 million mansion in Los Angeles, California, to the U.S. government after being convicted of money laundering.

A preliminary forfeiture order issued on October 3, 2025, by Judge John Walter of the U.S. District Court for the Central District of California, directed that Okoronkwo’s luxury property at 25340 Twin Oaks Place, Valencia be seized and transferred to the government.

According to court documents obtained by Peoples Gazette, the property—identified as Tract No. 45433, Lot 12 (Assessor’s Parcel No. 2826-143-004)—was linked to proceeds from illegal financial transactions in violation of U.S. money-laundering laws.

The ruling followed Okoronkwo’s conviction on three counts of money laundering, as detailed in a superseding indictment by U.S. prosecutors. The court found a “requisite nexus” between the offences and the mansion, making it subject to forfeiture.

Assistant U.S. Attorney Alexander Su, who handled the forfeiture motion, confirmed that the government could immediately seize and liquidate the asset under federal forfeiture laws. The U.S. Attorney General was also authorised to notify any third parties with potential claims.

The court ruled that the forfeiture would become final at sentencing, forming part of Okoronkwo’s punishment and granting the U.S. government clear title once all third-party claims are resolved.

The case—United States v. Paulinus Iheanacho Okoronkwo (Case No. 2:24-CR-20(A)-JFW)—is part of a wider U.S. federal probe into international financial crimes involving politically exposed persons from Nigeria and other countries.

Okoronkwo’s case adds to a growing list of Nigerian officials and business executives whose U.S. assets have been seized after being traced to illicit offshore transactions.

Dangote Refinery deploys CNG trucks to distribute petrol at N850 per litre.

The Dangote Petroleum Refinery has intensified efforts through the use of Compressed Natural Gas (CNG)-powered trucks to distribute Premium Motor Spirit, PMS, also known as petrol at N850 per litre to different parts of the nation.

Chief Executive officer of Petroleumprice.ng, Olatide Jeremiah, said: “Generally, the depot prices have increased. Market data showed that petrol sold between ¦ 870 and ¦ 900 per litre at key depots in Lagos and Calabar, reflecting a steady climb over the past week.

“In Lagos, where most private depots rely on imported supply, prices remained elevated even after recent reviews. Aiteo and Pinnacle both sold petrol at ¦ 890 and ¦ 870 per litre, respectively, while Integrated Oil and Gas priced PMS at ¦ 870 per litre.

“At Calabar, Matrix Energy and Northwest Petroleum traded at ¦ 890 and ¦ 880 per litre, while Sobaz Depot hit ¦ 900 per litre —the highest recorded so far this month.”

“The hike in depot prices would likely crash once the Dangote Petroleum Refinery completes its rehabilitation because the plant has the capacity to impact the domestic market.”

However, the retail prices of petrol have increased by 6.8 percent to N955 per litre, from N890 per litre sold last week.

The NNPCL, and stations owned by Independent Marketers in Lagos and Abuja showed that the petrol was dispersed between N900 and N955 per litre.

Also, petrol marketers across Abuja, the nation’s capital, on Tuesday increased their pump price by over N50 per litre following a similar increase by NNPC Limited.

Adamawa State Command of the Nigeria Security and Civil Defence Corps, NSCDC, has intercepted a trailer containing stolen pipes belonging to the Nigerian National Petroleum Company Limited, NNPCL.
@DailyPostNGR

The Group Chief Executive of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has attributed the recent scarcity in cooking gas to a temporary loading and disruption during the strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Nigerian Govt, PENGASSAN, Dangote Refinery reach truce.

The Federal Government, on Tuesday, brokered a truce between the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, and the management of Dangote Petroleum Refinery.

The Minister of Labour and Employment, Dr Muhammad Maigari-Dingyadi, made this known in a statement on Wednesday at the end of a two-day conciliation meeting in Abuja.

The meeting, which held on Monday and Tuesday, brought together the National Security Adviser, Ministers of Finance, Budget and Economic Planning, and State for Petroleum (Gas), alongside the DSS, NIA, NNPCL, NMDPRA, NUPRC and labour leaders.

Recall that the conciliation was convened after PENGASSAN directed its members to stop gas supply and withdraw services from the refinery.

PENGASSAN had alleged that the company terminated the employment of more than 800 of its members, which triggered the industrial action.

Meanwhile, Dangote Refinery explained that the disengagement of workers was due to an ongoing restructuring exercise in the company.

According to the communiqué, the meeting resolved that unionisation is a fundamental right of workers under Nigerian law and must be respected by the company.

Why Must Dangote Bully Everybody Out Of Business? They Did It In Sugar And Cement Ogbeifun Reveals.

Brown Ogbeifun, also known as Dr. Louis Brown Ogbeifun, a former President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has accused the Dangote Group of stifling competition and showing disregard for workers’ rights.

Speaking on Channels Television on Monday, September 29, 2025, Ogbeifun, who is also a retired Manager of Employee Relations at the Nigerian National Petroleum Corporation (NNPC) and ex-President of the Institute of Chartered Mediators and Conciliators (ICMC), emphasized that unionization was a right recognized by Nigerian labor laws.

“Let us get it straight. It is the right of the union to organize by labor laws. What we are seeing here today is an organization that has no respect for human dignity, for worker dignity,” he said.

Responding to questions on whether there had been any engagement with Dangote Refinery before the unions moved to strike action, Ogbeifun insisted that there had been efforts but alleged that some workers were fired simply for joining unions.

“It is not about PENGASSAN or NUPENG. The question is the kind of thing that happened in Dangote as it grew. Why must Dangote organization bully everybody out of business? They did it in sugar. They did it in cement. You saw what happened to BOA in cement. Must we build a monopoly around Dangote organization?” he asked.

Ogbeifun acknowledged Aliko Dangote’s contributions to Nigeria’s economy, especially in oil and gas, but maintained that the group’s approach to labor relations and market dominance raises concerns.

He further stressed that the situation reflects a wider systemic failure:“Both organizations can come together PENGASSAN, NUPENG, and the Dangote Group. What we are seeing today is failure of the conflict resolution system in the country.”

Dangote Refinery Suspends Petrol sales in Naira, Cites Dollar Crude Obligations.

The Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in naira, saying the move is necessary to avoid a currency mismatch with its crude oil purchase obligations, which are currently denominated in U.S. dollars.

In a circular sent to customers on Friday, the company explained that while it has continued selling products in naira, the value of such sales has already exceeded the amount of naira-denominated crude it has received. To realign its operations, it said sales will now be restricted to dollars until it gets further crude supplies priced in the local currency from the Nigerian National Petroleum Company Limited (NNPC).

The refinery, owned by billionaire industrialist Aliko Dangote, stressed that the decision is a temporary adjustment. “As soon as we receive an allocation of naira-denominated crude cargoes from NNPC, we will promptly resume petroleum product sales in naira,” the company assured.

Dangote Refinery also dismissed online reports suggesting that the halt was linked to alleged ticketing fraud. It described such claims as “malicious falsehood,” insisting its systems remain robust and free of fraud issues.

Reaffirming its commitment to the Nigerian market, the company said: “We remain dedicated to serving the market efficiently and sustainably. We appreciate your understanding and cooperation during this period.”

The Economic and Financial Crimes Commission (EFCC) has directed the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, to report at its Abuja headquarters daily as the commission prepares to arraign him in court soon.

Wike Slams N5m Fines on Ganduje, Idiagbon, Oyinlola, Others for Illegal Land Conversion.

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has imposed N5 million fines on former APC Chairman Dr. Abdullahi Ganduje and several prominent Nigerians for illegally altering the use of their properties in Abuja.

The sanctions affect both living and deceased persons, as well as public and private institutions, accused of converting their lands without approval, thereby violating the right of occupancy terms.

In a newspaper notice, Wike directed all affected allottees to pay the penalty fee within 30 days, by September 10, 2025. The order followed a review of land use in 15 streets across Maitama, Asokoro, Wuse 2, Garki 1, and Garki 2. He also approved the issuance of new title documents reflecting updated land use for a fresh 99-year term once conditions are met.

The FCT administration alleged that Ganduje converted a residence at Adetokunbo Ademola, Wuse 2, into a banking hall without approval. A property at Gana Street, Maitama, belonging to the late Gen. Tunde Idiagbon, was turned into Serendib Hotel and Suites, while former Osun State Governor Prince Olagunsoye Oyinlola allegedly converted a residence at Yakubu Gowon Crescent, Asokoro, into Zhouyi Hotel.

Two former Chief Justices of Nigeria were also listed. Justice Atanda Fatai-Williams’ Maitama residence was reportedly changed into a wood factory and shopping centre, while Justice Aloma Mariam Mukhtar’s land was converted into a supermarket.

Senator Shehu Sani was sanctioned for turning a residence at Aminu Kano Crescent into a showroom. Others include former Governors Forum DG Okauru Okauru (residence converted to showroom), Lt. Gen. Rufus Kupolati (residence to gym), former FCT Minister Abba Gana (residence at Usuma, Maitama, redesigned into a mall), the NNPC (residential property to NNPC Medical Services), and the Nigeria Police (public place converted for POWA use).

Former NNPCL GM found guilty of taking $2.1M bribe from a Swiss oil company by U.S court.

A U.S. District Court in California has scheduled December 1, 2025, for the sentencing of Paulinus Iheanacho Okoronkwo, a former General Manager of the Nigerian National Petroleum Company Limited (NNPCL), who was found guilty of taking a $2.1 million bribe from a Swiss oil firm.

Okoronkwo, 58, was indicted in January 2024 by the U.S. Attorney’s Office in the Central District of California. He faced multiple charges, including three counts of unlawful monetary transactions, one count of tax evasion, and one count of obstruction of justice.

According to prosecutors, the former NNPCL official received $2,105,263 in October 2015 from Addax Petroleum, a Swiss subsidiary of Chinese energy giant Sinopec. 

The payment was routed through his Los Angeles law firm and disguised as consultancy fees. The U.S. Department of Justice described it as a bribe aimed at securing favorable drilling rights in Nigeria.

Court documents showed that Addax executives misrepresented the transaction, misled auditors, and even dismissed staff who questioned the deal.

Nearly $1 million of the funds was used by Okoronkwo as a down payment for a home in Valencia, California, while he failed to report the income in his 2015 federal tax filings.

In 2022, during a federal investigation, he further obstructed justice by falsely claiming the money belonged to a client. Following a four-day trial, a jury convicted him on all counts.

Presiding Judge John F. Walter stated that Okoronkwo faces up to 25 years in prison — 10 years each for the unlawful monetary transactions and obstruction of justice, and five years for tax evasion.

Okoronkwo, once a practicing lawyer in Los Angeles’ Koreatown, remains free on a $50,000 bond pending sentencing. He was dismissed by NNPCL in 2024 after his indictment, according to former presidential aide Bashir Ahmad, who confirmed the company had cut ties with him.

PETROAN Set For Nationwide Shutdown Over Alleged Monopoly

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has announced a planned three-day nationwide shutdown of fuel lifting and dispensing starting Tuesday, September 9, 2025.

According to PETROAN President Billy Gillis-Harry, the action is to resist alleged monopolistic practices in the downstream petroleum sector, safeguard workers’ rights, and prevent the dominance of a single player in the industry.

The group warned that aggressive policies linked to Dangote Refinery could push depot owners, modular refineries, and transport operators out of business, leading to job losses and worsening economic hardship.

PETROAN urged President Bola Tinubu and other key stakeholders to intervene, adding that a 120-man compliance team will oversee safety during the shutdown.

Ref: Channels TV
#PETROAN #Petrol #Nigeria #NNPCL #FuelCrisis #BreakingNews

𝐂𝐍𝐆 𝐩𝐫𝐢𝐜𝐞 climbs to 𝐍𝟒𝟓𝟎/𝐒𝐂𝐌 𝐚𝐬 𝐅𝐆 𝐰𝐢𝐭𝐡𝐝𝐫𝐚𝐰𝐬 𝐬𝐮𝐛𝐬𝐢𝐝𝐢𝐞𝐬

The cost of Compressed Natural Gas (CNG) has jumped from N230 to N450 per standard cubic metre, triggering fresh anxiety among motorists battling with few refuelling stations and long queues.

While trucks now pay the full N450/SCM, cars and commercial buses are charged N380/SCM. A PCNGI official explained: “The refuelling stations now sell at different prices for cars and trucks. Subsidy is meant to ease passenger transport, but trucks carrying goods pay higher.”

Retailers confirmed that NNPC Gas Marketing Limited approved the new rates, warning it may soon rise to between N500 and N600. “The government subsidised it to attract users, but with the new review, we are seeing those subsidies being reduced,” one retailer said.

Motorists fear the development may discourage adoption. Ride-hailing driver Adeyemi Paul lamented: “Some spent up to N1.5m to convert vehicles to CNG. With this increase and 1.5km-long queues at stations, many may be forced back to petrol.”

CNG was introduced in 2023 as a cheaper alternative following petrol subsidy removal, which pushed pump prices from N175 to N870 per litre. Over 100,000 vehicles have since been converted, and government officials insist more refuelling stations and conversion centres are coming. But with rising prices and poor infrastructure, many Nigerians are questioning if the initiative can be sustained.

Nigerian Professionals, Families Left Stranded as U.S. Revokes Visas.

The United States Embassy in Nigeria has reportedly begun quietly revoking valid visas previously issued to Nigerian citizens, leaving professionals, entrepreneurs, frequent travellers, and families stranded with cancelled plans and mounting financial losses.

Former Chief Corporate Communications Officer of NNPC Ltd, Olufemi Soneye, raised the alarm in an article on Sunday titled “The Quiet Revocation: Why is the U.S. Silently Cancelling Nigerians’ Visas?” According to him, several Nigerians have recently received official letters from the embassy instructing them to submit their passports at its Lagos or Abuja offices, only for their visas to be cancelled without explanation.

The notices, citing Title 22, Code of Federal Regulations, Section 41.122, vaguely stated that “new information became available after the visa was issued,” but offered no details, evidence, or right of appeal.

Those affected reportedly include a prominent journalist, the head of a federal government agency billed to deliver an international address, and an Abuja-based entrepreneur with a clean travel record.

Others are professionals and frequent travellers who depend on U.S. visas for education, family visits, medical treatment, and business engagements. The sudden cancellations forced many to abandon trips, refund tickets, and explain missed meetings to partners.

In some cases, travellers only discovered the cancellations at airports, with a few briefly detained before being turned back. Neither the U.S. Embassy nor Nigerian authorities have issued an official statement on the matter, leaving affected citizens in uncertainty.

Many insist they have never overstayed visas, broken immigration rules, or posed security risks, sparking fears of a silent but deliberate tightening of U.S. visa policy against Nigerians.

In his column, Azu Ishiekwene warns that NNPCL boss Bayo Ojulari may be “walking into a trap” with his promise to revive Nigeria’s moribund refineries.

Although crude oil production has risen under his watch, Ishiekwene argues that Ojulari’s pledge to unions risks repeating decades of failed, costly “turnaround maintenance” projects that enriched contractors and politicians while leaving refineries idle.

He notes that past rehabilitation efforts — including billions paid under Buhari’s administration — delivered little, while refinery workers still drew huge salaries. Instead of making hasty promises, Ishiekwene urges Ojulari to publish the ongoing refinery review and avoid falling prey to vested interests.

#NNPCL #RefineryCrisis #NigeriaEconomy

BREAKING: A coalition of Niger Delta Youth leaders today staged a protest at NNPCL Towers in Abuja with a call on the Group Chief Executive Officer of the oil giant, Engr. Bashir Bayo Ojulari to quit over alleged corruption and mismanagement.

EXCLUSIVE: NNPC Boss Charters Private Jets For Brazil Trip
August 24, 2025

NNPC Limited CEO, Bashir Ojulari, has come under fresh criticism after chartering private jets for a Brazil trip, barely two months after the company’s board held a lavish retreat in Kigali, Rwanda.

At the Kigali retreat, the NNPC board, chaired by Ahmadu Musa Kida, lodged at the Marriott Hotel, reportedly booking the entire facility with insiders claiming at least five private jets were arranged for executives.

The spending spree comes as the Senate probes NNPC over financial discrepancies amounting to more than ₦210 trillion in its audited accounts between 2017 and 2023. Lawmakers described the irregularities as “mind-boggling” and warned of serious accountability concerns.

#NNPC #NigeriaEconomy #Accountability

NNPC Profit Slumps 80% from N905bn in June to N185bn in July.

The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a sharp drop in profit after tax, plunging from N905 billion in June to N185 billion in July—a 79.6% decline.

According to its monthly financial report released late Thursday, the company generated N4.41 trillion in July, compared to N4.57 trillion in the previous month. NNPC’s profit after tax had already slipped from N1.05 trillion in May to N905 billion in June, after recording N926 billion in April.

The July figure marks the steepest fall yet, despite a marginal rise in crude oil output from 1.68 million barrels per day to 1.7 mbpd. Natural gas production also increased slightly to 7.7 billion cubic feet in July, up from 7.58 bcf in June. The company disclosed that statutory payments for the first half of the year stood at N7.97 trillion.

Niger Delta Group Issues 7-Day Ultimatum Over Refinery Shutdown, Alleged NNPCL Mismanagement

Ref: August 23, 2025

The Nigerian oil and gas industry is facing renewed tension as the Niger Delta Ethnic Nationalities Youth Leaders Forum has accused the management of the Nigerian National Petroleum Company Limited (NNPCL) under Bayo Ojulari of corruption, job cuts, and the shutdown of the Port-Harcourt Refinery.

At a press briefing in Abuja on Friday, the group, led by Sir Jothan Lokpobiri Snr and Engr. Dr. Legborsi Yamaabana, issued a seven-day ultimatum demanding Ojulari’s removal and prosecution.

They alleged that Ojulari diverted $21 million in NNPCL funds to a private account linked to his associate, Abdullahi Bashir Haske, who is already under EFCC investigation; sabotaged the Port-Harcourt Refinery—which resumed operations in December 2024 after a $1.5 billion overhaul—by shutting it down in May 2025 to allegedly sell off at scrap value; and illegally sacked over 400 workers, many of them Niger Delta youths.

“These actions are unforgivable crimes against the Niger Delta and the Nigerian state. Ojulari must not only vacate the office — he must face justice,” the statement read.

The Forum also insisted that the next NNPCL boss must be appointed from the Niger Delta, saying the region that produces the nation’s oil wealth should not continue to be marginalised.

Warning of mass action if their demands are ignored, the group said: “This is not a threat, but a warning born of deep concern. The fragile peace in the Niger Delta is being endangered by Ojulari’s conduct and federal silence. We will not sit by while our people are betrayed.”

#NNPCL #NigerDelta #Refinery #Corruption

Interpol Rejects EFCC Wanted Alert Against Atiku’s Son-in-Law, Bashir Haske.

The International Criminal Police Organisation (Interpol) has rejected a wanted alert issued by Nigeria’s Economic and Financial Crimes Commission (EFCC) against Lagos businessman, Bashir Haske, describing the move as ‘politically motivated’.

In a statement on Friday morning, the France-based security body said it would not lend its network to advance cases with political undertones.

“Please note that Interpol has no plans to help member countries to advance politically-motivated cases,” the organisation said, stressing that its constitution explicitly forbids it from acting on requests that target individuals based on political, religious, racial or military grounds.”

“Please note that INTERPOL will only issue a Red Notice if it complies with the organisation’s rules and Constitution, which notably forbids INTERPOL from issuing a Notice on political, religious, racial or military grounds,” the statement added.

Interpol also noted that it was aware of Haske’s ties to Nigeria’s opposition leader, Atiku Abubakar, who served as vice president from 1999 to 2007 and was the main challenger to President Bola Tinubu in the 2023 election. Mr Abubakar has recently played a central role in forming a new coalition ahead of the 2027 polls.

The EFCC, under its embattled chairman Ola Olukoyede, declared Mr Haske wanted on Thursday night, accusing him of money laundering despite an existing federal court order prohibiting such action. This newspaper gathered that the move was part of an effort to weaponise Haske’s marriage to Atiku’s daughter in the wider political battle for control of Nigeria’s state oil company, NNPC.

Alleged Fraud: Court Freezes Ex-NNPCL GMD Mele Kyari’s N661m in Jaiz Bank Accounts.

A Federal High Court in Abuja has ordered the temporary freezing of four bank accounts linked to former Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kolo Kyari, over alleged fraud and money laundering.

Justice Emeka Nwite issued the order on Tuesday while ruling on an ex parte application filed by the Economic and Financial Crimes Commission (EFCC). The commission’s counsel, Ogechi Ujam, had sought a 60-day freeze, but the judge limited it to 30 days, subject to renewal.

The EFCC told the court that its preliminary investigation traced ₦661.4 million suspected to be proceeds of unlawful activities to the accounts domiciled in Jaiz Bank.

The accounts were allegedly used to launder funds under the guise of a book launch and the activities of a non-governmental organisation, Guwori Community Development Foundation.

According to the anti-graft agency, records show that Kyari controlled the accounts directly and through family members acting as fronts. The commission said the funds originated from suspicious inflows from NNPCL and oil companies dealing with the corporation. The court directed that the money remain frozen pending further investigation and possible prosecution.