A Private Bus Rapid Transit (BRT) operator, Primero Transport Services has debunked having issues with fuel suppliers as widely circulated in the media space.

Head, Corporate Communications, Mutiu Yekeen made this known in a statement issued exclusively to Tribune Online on Thursday.

Yekeen stated that the scarcity of fuel which impacted all BOCs, not only Primero has been resolved and Primero buses are fully operational on the route today.

Mutiu noted that there have been two changes in diesel prices from Monday 27th September 2021 to Wednesday, 29th September 2021, thereby putting all BOCs under pressure.

The Communications Head added that the sudden increase in diesel prices slowed down operations as BOCs sourced for alternative solutions to fuel buses, noting that Primero embraced alternative suppliers on Tuesday to enable the accredited supplier to restock and has since returned to full operations.

“Our attention has been drawn to a publication, published in Tribune Online, today, 30th September 2021, titled: “Passengers in Lagos Stranded As Fuel Suppliers Stop Service To BRT Buses”.

“The story is not a true representation of what transpired. Primero buses are currently operating on Oshodi to Abule-Egba route like other franchise Bus Operating Companies.

“The scarcity of fuel which impacted all BOCs, not only Primero as painted in the narrative of the story has been resolved and Primero buses are fully operational on the route today.

“There have been two changes in diesel prices from Monday 27th September 2021 to Wednesday, 29th September 2021. The development put all BOCs under pressure.

“The sudden increase in diesel prices slowed down operations as BOCs sourced for alternative solutions to fuel buses.

“Primero embraced alternative suppliers on Tuesday to enable the accredited supplier to restock and has since returned to full operations.

“Primero is a private BRT operator operating on Ikorodu to TBS and Oshodi-Abule-Egba routes. It has over 550 buses in its fleet and remains committed to offering safe, affordable, and convenient services to Lagosians.” he said.

Nigeria's largest credit bureau, CreditRegistry, has launched an API (application programming interface) service to validate the financial credibility of cheque issuers to improve confidence in lending.

The product launch is in line with the Central Bank of Nigeria’s directive that all financial institutions perform a status check on potential customers to ensure they are not serial dud cheque issuers before opening an account, approving them as guarantors to credit facilities or granting of credit to them.

The Dud Cheque API service protects lenders, SMEs, retailers and other organisations from accepting cheques from serial dishonoured (Dud) cheque issuers especially as the economic challenges occasioned by the COVID-19 pandemic becomes more pervasive. Accepting cheques as a means of payment increases sales and improves the cash flow for businesses by assuring timely collection of all credit granted on post-dated cheques.

A first of its kind for the credit reporting industry in Nigeria, CreditRegistry Dud Cheque API is a self-service solution that enables duly enrolled agents carry out necessary dud cheque verifications conveniently and in an automated fashion. Dud Cheque enquires are performed in real-time through the API in addition to the existing web application that has been available since 2016.

Speaking on the importance of the service, Dr. Andrew Nevin, Chief Economist, PwC said, “we need to commend CreditRegistry with this important step, showing how FinTech at its best will improve the financial system. This is simple but solves a major problem - verifying the accountability of cheque issuers. In 2009, PwC recommended the need for robust credit registries in the financial ecosystem in Nigeria; of course, CreditRegistry was already the pioneer, having been established in 2003, so it is no surprise to see CreditRegistry on the cutting edge of technology.”

Banks and other institutions that intend to verify the dud cheque risk of their customers in real-time can program to directly integrate their bank account opening and/or loan origination systems with the new Dud Cheque API service to improve turn-around-time and perform batch services.

Commenting on the overall impact of the service, CreditRegistry’s Chief Executive Officer - Mrs. Jameelah Sharrieff-Ayedun said “Everyone needs credit at some time. This service simply helps to improve transparency to reduce the barrier so more people can access credit using post-dated cheques as a means for payment. This service not only offers comfort to economic agents advancing credit but also lubricates the economy by ensuring that accountable individuals and businesses who need credit get it in a fast, easy and inexpensive way. Ultimately, the overall economy benefits.”

Each institution can integrate the API to return a file which will specify the number of dud cheques written by any offender. Ultimately, when a search is carried out, the API returns the information generated to the agent to enable instant and efficient decision making.

Customers who are accountable and have no dud cheque issues can be given access to services or products when they present post-dated cheques as a means of future payment.

Subscribers of CreditRegistry can access her Dud Cheque API Service now through their authorized credentials registered on the bureau.

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa has announced that further to the Company’s announcements on 21 January 2020, 25 March 2020 and 3 April 2020, it has reached an agreement with Optimum Petroleum Development Company, the Operator of the OPL 310 License, on deferring the final tranche of payment of US$7.6 million due on or before 2 May 2020.

Speaking on the agreement, Alhaji Yusuf N’jie, Managing Director, Optimum Petroleum Development Company said, “the current challenges in the oil industry - the unprecedented supply and demand shock brought on by the COVID-19 pandemic, requires true partnership and collaboration and we are pleased to work with LEKOIL in this regard.” Over the years, LEKOIL and Optimum have worked together to develop OPL310, located on the Dahomey Basin.

As previously announced on 21 January 2020, LEKOIL agreed that a final payment of US$9.6 million, in aggregate, would be made to Optimum to cover sunk costs and consent fees. This final payment was to be made in two tranches with the first payment of US$2.0 million completed as announced on 3 April 2020. For the second and final payment of US$7.6 million, Optimum and LEKOIL have agreed a deferred payment schedule as follows: the sum of US$1.0 million to be paid on or before 15 July 2020; the sum of US$2.0 million to be paid on or before 2 September 2020; and the sum of US$4.6 million to be paid on or before 2 November 2020.

“We would like to thank Optimum for their continued support and understanding during these challenging times for the oil and gas industry and the global economy. We remain aligned and committed to delivering on our joint appraisal ambitions,” Lekan Akinyanmi, LEKOIL’s CEO, commented.

The partnership between LEKOIL and Optimum is a demonstration of the rare synergy and progress that is possible if indigenous companies work together.

Ogoni Liberation Initiative, a non-governmental organisation, focusing on the development of Ogoni environment and its people, has called for the support of national and international donors as it prepares to raise one billion naira in funding for the development of Ogoniland.

Convener of the movement, Rev. Douglas Fabeke, said the fund is critical to the restoration of the region from its current state of disrepair.

He said the funding is targeted at actualising business and economic resurgence in the region. “We are poised for business and economic change, the advancement of education, global peace support and community development. We already have our plans mapped out and they are in line with the late Ken Saro Wiwa’s fellowship programme for peace ambassadors and leaders, he added.

Fabeke said to achieve restoration, there is a need for equitable partnership, corporate collaboration and critical support of investors and stakeholders in and outside Ogoniland for the movement’s course.

“Ogoni is one of the Nigerian regions that has been marginalized, neglected economically, politically and environmentally in the past. Government and oil companies operating in the area has subjected the land to penury through their neglects”, he stressed.

The convener said the fund is aimed at empowering Ogoni youth through the launch of One Billion Naira, the first phase of the development and empowerment project in the region. “To facilitate the smooth transformation of the Ogoni youth to an embodiment of socio-economic and crime-free persons, we call on concerned entities globally and nationally to support the dream of the Ogoni Liberation Initiative.

International consulting firm, PricewaterhouseCoopers, banking innovator, ProvidusBank, and pensions giant, ARM Pension Managers, lead the team of corporates that have thrown their weight behind the 10th edition of the Daniel Ogechi Akujobi Memorial Foundation Charity Golf tournament, and event organized to raise funds for intervention in two key sectors, one of which is healthcare.

Others lending support for the Foundation’s intervention programs are: Fidelity Bank, LandWey Investment Limited, Radial Circle Group, Zenith Bank Plc, First Bank Channels Television, Silverbird Television, Grand OAK, Cappa & D’Alberto, SPAR (Park N’ Shop), Fidelity Bank Plc, Amni International Petroleum Development, Kansai Plascon Nigeria, Victoria Crown Plaza, Ikoyi Club 1938, Protea Hotel, Wheatbaker Hotel, Four Points by Sheraton and many more.

Coordinator of the Organising Committee, Pat Bassey, confirmed that, “To mark the 10th Edition of the Charity Golf Tournament, the Foundation plans to put on display a compendium of its achievements in touching lives over these years. It is our hope that corporate and individual sponsors and donors, who have consistently supported the event and the Foundation, would during the event appreciate the mileage that their support has covered, in the focus areas of healthcare and education for the less privileged and underserved communities across Nigeria.

He further stated that “We will also use this opportunity to appreciate those corporate organisations, groups and individuals who continue to support this golf event, in order to enable the Foundation to continue to touch the lives of the indigent and underserved in the society - who are the ultimate beneficiaries of this event.

Coordinator of the Organising Committee, Pat Bassey, also confirmed that about 180 players are expected to tee off at the final of this year’s DOAMF Charity Golf Tournament scheduled for February 15, 2020 at the Golf Section of Ikoyi Club 1938 in Lagos.

According to him, “A number of the finalists had made the cut from the men’s and ladies’ Qualifiers for the event held on February 1, and 4, 2020, special friends and guests of the Foundation, as well as, veteran players.

Mr Ebi Pinnick, a member of the organizing committee, added that “We will also use the opportunity of the 10th Edition of the Charity Golf Tournament, particularly at the cocktail event in the evening, to appreciate those corporate organisations, groups and individuals who continue to support this golf event, in order to enable the Foundation to continue to touch the lives of the indigent and underserved in the society - who are the ultimate beneficiaries.”

The event will be rounded off with a closing ceremony and awards’ cocktail later in the evening of the tournament day, at the Golf Section of Ikoyi Club.

As part of its support for sports development in Nigeria, Accugas Limited, in partnership with the Nigeria Judo Federation, Edinburgh Judo Club and Wakuta Judo Club has organised a two-day judo masterclass in Uyo, Akwa Ibom State.

The masterclass, which was held at Nwaniba Hall, Ibom Hotel & Golf Resort on 1st and 2nd February, attracted over 200 Judokas across several categories from within and outside the state. Billy Cusack, legendary high-performance Great Britain judo coach and Sarah Clark, three times Olympian from the Edinburgh Judo club facilitated the masterclass session, the first of its kind in Nigeria.

Speaking at the event, Andrew Knott, CEO of Savannah Petroleum, the parent company of Accugas Limited, said: “Apart from promoting healthy competition, respect and mental discipline, judo is a sport that engenders physical fitness. We sponsored this masterclass to bring these benefits to participants. In the long run, we look forward to having global champions emerge from this group of judokas.”

Also speaking at the event, the secretary to the Akwa Ibom State Government, Emmanuel Ekuwem, who represented the governor of the state, Udom Emmanuel, said: “This is a laudable masterclass and the state government is pleased with the initiative taken by Accugas to put an event of this magnitude together and in Akwa Ibom State. We are truly grateful to Accugas and ask that this initiative be sustained.”

On his part, Prince Timothy Nsim (JP), President of the Nigeria Judo Federation (NJF), said, “Judo is the first combat sport in Nigeria and it is plausible that Accugas took the initiative to put this event together. Nigerian judokas are very healthy and we are encouraged by the enthusiasm, stamina and professionalism exhibited during these two days of activity.”

Participants, which were of various age brackets, were exposed to modern judo techniques combining jujitsu with mental discipline. The best approach to judo techniques including throws, falls, and grappling moves were demonstrated by the facilitators.

The event was attended by other dignitaries including Abinbola Adesinya, Secretary General, Nigeria Judo Federation, Engr. Bunmi Johnson, Chairman, Akwa Ibom State Judo Association, Lawrence Iquaibom, Director of Youths and Sports, Akwa Ibom State, Joyce Udoh, 2nd Vice Chairman, Akwa Ibom State Judo Association, Iquaibom Usen, member Akwa Ibom State Judo Federation, Rt. Hon (Barr) Ekong Sampson, Honourable Commissioner, Ministry of Environment and Petroleum Resources.

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, has announced, on behalf of the Otakikpo Joint Venture which is made up of Green Energy International Limited (“GEIL”), the Operator, and the Technical Partner, LEKOIL Oil and Gas Investments Limited (“LOGL”), a member of the LEKOIL Limited group, an operational update on Otakikpo Marginal Field in OML 11.

The Otakikpo JV, on 25 January 2020, completed the first crude oil lifting of this year by the nominated offtaker, Shell Western Supply and Trading Limited (“SWST”) (a member of the Royal Dutch Shell plc group of companies). LOGL expects to receive cash proceeds from this crude oil lifting of c. US$7.0 million. The next lifting, of a similar quantity, is expected to occur within the next four to six weeks.

For the full year 2019, production from Otakikpo averaged 5,305 bopd gross with 2,122 bopd net to LOGL (full-year 2018: 5,345 bopd gross with 2,138 bopd net to LOGL). For the first twenty (20) days of this year, production at Otakikpo has averaged 5,860 bopd gross with 2,344 bopd net to LOGL.

“Otakikpo continues to provide steady production and cashflow for LEKOIL. We are delighted with the collaborative progress being made by all parties towards the development and transformation project planned for Otakikpo, that is aimed at increasing production from the field. We remain fully focused to generate value on this asset for all shareholders,” Lekan Akinyanmi, LEKOIL’s CEO, commented.

Further to the announcement on 1 July 2019, where the Otakikpo JV executed a Memorandum of Understanding (“MOU”) with Schlumberger and a subsidiary of a major international oil company, the parties remain aligned and committed to the expansion project which has the potential, subject to satisfaction of the conditions set as previously announced, to increase production on the field up to 20,000 bopd (8,000 bopd net to LOGL).

The phased development plan for the project consists of drilling between five (5) and seven (7) new wells as well as the expansion of processing infrastructure which will be financed by a project finance debt facility. A further update on the progress of this project will be provided shortly.

As at 31 December 2019, LOGL has an outstanding balance (including accrued interest) of interest-bearing term loans of US$19.2 million.

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, is pleased to announce that, further to its announcement on 13 January 2020, it has reached an agreement with Optimum Petroleum Development Company, the Operator of the OPL 310 License, on deferring the Company’s financial and operational obligations due in February 2020 pursuant to the Cost Recovery and Sharing Agreement executed between LEKOIL and Optimum in August 2019.

As previously announced, pursuant to the Cost Recovery and Sharing Agreement, LEKOIL was required to pay a portion of Optimum’s sunk costs and consent fees (previously estimated at $10.0 million) as well as provide evidence of its ability to fund 42.86 per cent. of the costs and expenses for the drilling of the first appraisal well during February 2020 (estimated at a further $28 million).

“We remain excited about the opportunities of OPL 310 and are focused on securing the necessary funding under the revised schedule. We are grateful for the support and commitment shown by our partner Optimum, the Operator of the OPL 310 License. This alignment with our partner is crucial in unlocking significant value for all our investors and stakeholders,” Lekan Akinyanmi, LEKOIL’s CEO, commented,

Optimum and LEKOIL have agreed the final payment of $9.6 million to Optimum which covers sunk costs and consent fees as follows:
• The sum of US$2.0 million to be paid on or before 20 March 2020.
• The sum of US$7.6 million to be paid on or before 2 May 2020.

Optimum and LEKOIL have also agreed that the obligation for LEKOIL to provide evidence of its ability to fund 42.86 per cent. of the costs and expenses for the drilling of the first appraisal well on OPL 310 be deferred until July 2020.

Speaking on behalf of Optimum, the company’s Managing Director, Engr. Yusuf K. N’jie, said: “We are pleased to continue to support LEKOIL by deferring their obligations which were due this quarter. We remain confident in LEKOIL’s ability to by July this year, raise the financing that is required for the commencement of the appraisal drilling programme for OPL 310 which we truly believe is a world-class strategic asset.”

LEKOIL Limited (LEKOIL), the oil and gas exploration and production company with focus on Nigeria and West Africa, has provided further update on the facility it purportedly entered into with the Qatar Investment Authority (QIA).

Following announcement by LEKOIL on 2, January 2020, representatives of the QIA approached LEKOIL's advisers yesterday, questioning the validity of the agreement.

The company is currently seeking to establish, alongside its legal counsel and Nominated Adviser, the full facts of the matter, and pending this clarification, the Company’s ordinary shares were suspended from trading on AIM at 7.37am on 13 January 2020. However, the release of this announcement facilitates lifting of the suspension, and trading on AIM of the Company's shares is expected to recommence from 7.30 a.m, 14 January 2020.

The Facility Agreement can no longer be considered to be legally binding or enforceable and it should, therefore, be assumed that none of the funding, as set out in the announcement of 2 January 2020, will be forthcoming.

Lekoil continues to generate positive cash flows at the operational and corporate level and will seek alternative funding for the future development of OPL 310 as a priority. As previously announced on 30 August 2019, Lekoil is required to provide 42.86% of the cost of drilling and pay Optimum Petroleum Development Company Limited “(Optimum”) sunk costs and consent fees by February 2020 – a payment estimated at c. US$38 million.

Failure to make this payment on time may result in Lekoil and Optimum jointly seeking, and agreeing on, a willing buyer to whom the transfer of Lekoil’s 17.14% participating interest in OPL 310, as well as all the financial obligations related to OPL 310, can be made.

The Company further confirms that no capital commitments have been made based on anticipated drawdowns, and that the Company will cover the cost of the site survey (estimated at c. US$4 million) on OPL 310 as announced on 10 January 2020 from a mixture of existing cash resources and income from operations at Otakikpo.

The Gamesville Foundation, a non-profit organization that provides games recreation and aid to humans that are onset by hardship, loneliness or disability, has lifted three NGOs by fundraising and donating N6million to their causes.

The fundraising effort culminated at a games-themed gala which included an interactive mystery game hosted by HC Bonum and casino games administered by Oceans 7. The funds were given to three charities: Street Child Care and Welfare Initiative, Jakin N.G.O, and Echoes of Mercy and Hope Foundation, which focus on the welfare and integration of street and underprivileged kids into society.

Each NGO received N2million which will be spent on the welfare of the children, including school fees, school clothes and kits, vocational training, and nutrition. Speaking at the event which was held at Havilah Events Center in Lagos, Chidinma Obi, Co-founder and Trustee of The Gamesville Foundation said: “We put this event together to support the grassroots work that these charities are doing to improve the lives and well-being of children who are on the streets, in harm's way, or living in deep poverty. We are keen to use our platform and access to resources to support sustainable solutions to problems plaguing children, and we are deeply grateful to our corporate and individual sponsors for empowering us to do so."

Major donors of the event include Shelf Drilling, GTP Oil Field Solutions Limited, Zenith Bank, and the staff of LEKOIL employees. Hamilton Esi - GM, Corporate Communications at LEKOIL, summed up the reason for the staff pulling resources together to make a contribution by explaining that "LEKOIL shares in The Gamesville Foundation's mission of improving lives and values-building, and we're delighted to support their efforts in this mission through independent employee engagement and volunteer work".

The Presidents of the NGOs, Mrs. Fola Soyebo of Echoes of Mercy and Hope Foundation, Mrs. Olubukola Adebiyi of Jakin N.G.O., and Mrs. Comfort Alli Babalola of Street Child Care and Welfare Initiative, each thanked the coordinators of The Gamesville Foundation and assured all donors that the funds which were raised to assist the underprivileged children will be judiciously used.

The Gamesville Foundation is the NGO arm of Lagos Games Group, a private social organization that promotes recreation and values-building through board, card, role-play and other interactive games. The organization hosts games once a month.

Seven Energy International Ltd (“Seven Energy”), the leading integrated gas company in south-east Nigeria, has received notice of recruitment, compensation payment and road construction drive by WALTZ ENVIRONMENTAL COMPANY LTD & PRINCEWILL LUCE COMPANY LTD purporting to be acting on behalf of Seven Energy.

PLEASE BE ADVISED THAT ANY SUCH RECRUITMENT DRIVE, COMPENSATION PAYMENT & ROAD CONSTRUCTION BY WALTZ ENVIRONMENTAL COMPANY LTD & PRINCEWILL LUCE COMPANY LTD IS FRAUDULENT. WALTZ ENVIRONMENTAL COMPANY LTD & PRINCEWILL LUCE LTD ARE NOT ACTING AND ARE NOT AUTHORISED TO ACT ON BEHALF OF SEVEN ENERGY IN ANY CAPACITY.

Seven Energy hereby disassociates itself from these companies and their activities and further states that it has no relationship whatsoever with the two companies or any of their agents or affiliates.

Members of the public are hereby notified that:
o Seven Energy does not and will not require applicants to make payment towards processing any job application. Recruitment advertisements requesting candidates to pay money, at any point during the recruitment process, are not from Seven Energy.
o Any reference made to construction of projects or compensation payments to be made by Seven Energy are false and are not endorsed by Seven Energy
o Seven Energy does not solicit job applications or initiate recruitment processes through emails, posters, handbills, text messages, social media or phone calls.
o Seven Energy will not respond to enquiries about fraudulent advertisements, job offers, payment of compensation and road construction.