Alleged $1 Billion Loan Claim: Nestoil Queries FBNQuest’s Refusal to Provide Bank Statements Moves to appoint 10 local and international forensic auditors for all its Nigerian banks accounts
Nestoil Limited has challenged FBNQuest Merchant Bank’s alleged refusal to release state-
ments of accounts relating to a S P E C I A L R E P O RT disputed $1 billion loan, raising concern over transparency and compliance within Nigerian financial system.
The company has also auditors to scrutinise its bank initiated moves to appoint ten Continued on page 10 local and international forensic
At 6.5m, Nigeria’s Total Metering Rate Hits 55%, Active Customers Near 12m... Page 10 Tuesday 11 November, 2025 Vol 30. No 11174. Price: N400
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Soyinka: Nigeria’s Crisis Not Christian-Muslim War But Battle against Extremists... Page 26
EFCC Declares Ex-Minister Timipre Sylva Wanted over Alleged $14.8m Refinery Fund The Economic and Financial Crimes Commission (EFCC), has declared former Minister of State for Petroleum Re-
sources and ex-Bayelsa State In a statement yesterday, Governor, Timipre Sylva, EFCC spokesperson Dele wanted over an alleged Oyewale, said Sylva was $14.86 million fraud. wanted for alleged conspiracy
and dishonest conversion (NCDMB). Atlantic International Refinery The anti-graft agency said and Petrochemical Limited of funds belonging to the Nigerian Content Develop- the money was part of the ment and Monitoring Board funds NCDMB invested in Continued on page 10
Tinubu Moves to Fast-track Siemens Power Project, Recommits to Stable Electricity President says no economic development without reliable power supply Directs expansion of transformer substations to three phases Deal seeks to raise Nigeria’s power supply to 25GW from current 5GW
Deji Elumoye and Emmanuel Addeh in Abuja President Bola Tinubu yesterday moved to accelerate the much talked about Siemens energy deal, assuring the technical contractor handling the Presidential Power Initiative (PPI) of his administration’s full commitment to improving the country’s electricity supply and enhancing the livelihood of Nigerians. Tinubu made the commitment during a meeting with a delegation of the German energy giant at State House, Abuja, led by its Managing Director for Middle East and Africa, Dietmar Siersdorfer. He stated that the power sector was central in efforts Continued on page 10
GLO PARTNER APPRECIATION GALA WINNERS...
L-R: Director of Customer Care, Globacom, Catherine Bomett; Managing Director, Lambudaya Stores, Alhaji Yusuf Yahaya; National Retail & Consumer Sales Chief, Globacom, Mr. David Maji; CEO, Demmy Global Resources, Mr. Muwagun Adekunmi, and CEO, SkyTee Telecoms, Mrs Omotade Abiola, at the presentation of cash prizes to winners during Globacom’s Partner Appreciation Gala held at Continental Hotel, Lagos, on Saturday