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SENATE TAKES ACTION AGAINST CRUDE OIL THEFT, APPOINTS NWOKO AS COMMITTEE CHAIR

In a bid to tackle the menace of crude oil theft in Nigeria, the Senate has established an ad hoc committee to investigate the issue. Senator Ned Munir Nwoko, representing Delta North Senatorial District, has been appointed as the chairman of the committee. The committee’s formation is a direct response to a motion sponsored by Senator Nwoko in July 2023, which highlighted the need to investigate the incessant and nefarious acts of crude oil theft in the Niger Delta. The motion also sought to identify the actors involved in the theft. As part of its mandate, the committee will investigate the involvement of security forces, militia groups, local communities, and oil company employees in crude oil theft. The committee will also recommend measures to enhance surveillance and safeguard oil installations. In a related development, the Senate has begun considering a bill that seeks to restrict the movement of articulated lorries, tankers, and trailers during daytime hours nationwide. The proposed legislation aims to reduce the risk of accidents and improve road safety. If passed into law, the bill will prohibit the movement of these vehicles between 6:00 am and 12:00 midnight, except in emergency situations. The restriction is expected to reduce congestion on the roads and minimize the risk of accidents.

COURT ORDERS ARREST OF ACCESS BANK’S ACTING MD, BOLAJI AGBEDE, OVER ALLEGED THEFT

A Lagos State High Court has issued an arrest warrant for Bolaji Agbede, the acting Managing Director of Access Bank, alongside three other defendants, including Balmoral International Limited, DDSS International Company Limited, and Adejare Adegbenro. The defendants are accused of conspiring to steal a property valued at ₦1.356 billion, belonging to Gbolahan Obanikoro, son of former Minister of State for Defence, Senator Musiliu Obanikoro. Obanikoro According to the charge sheet, the defendants allegedly used MOB Integrated Services’ property as collateral for a ₦1 billion loan without consent. The property, located at Plot 40b, Bourdillon Road, Ikoyi, Lagos, was used as security for the loan, and the defendants subsequently entered into a consent judgment. The four defendants face a four-count allegation, including conspiracy to commit a felony, stealing, and attempted stealing. Justice Ibironke Harrison of the Lagos State High Court ordered the arrest of the defendants after they failed to appear for their arraignment. The court has fixed February 24, 2025, as the next date for the hearing of the case. Bolaji Agbede was appointed acting Managing Director of Access Bank following the death of the former CEO, Mr. Herbert Wigwe, in a helicopter crash in the US in August 2024.