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A Tale of Two Oil Chiefs, Ronke Sokefun and Austin Avuru

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Both have, no doubt, paid their dues in the oil and gas industry. When the story of Nigeria’s cash cow industry eventually gets written, both names will definitely be mentioned. Unfortunately this is where the similarity ends. One would have expected that having given their time, resources and expertise in building the two organisations where they both plied their trade, recognition and reward for their efforts would be inevitable. While that has been the case with one, it hasn’t quite been the case with the other. In an apparent end of the year gesture, Ronke Sokefun returned to OANDO Plc, many years after she left, as a non executive director. But Austin Avuru on the other hand earned himself a sack, as a non executive director of the board of SEPLAT, a company he co-founded and served as the pioneer CEO.

For a man, who is regarded as a thorough professional in the industry, this isn’t quite the kind of ending the highly cerebral Avuru envisaged for himself, certainly not from a company he gave his blood, sweat and took public in a historic dual listing on the London and Nigerian Stock Exchanges. Seplat is the only African exploration and production company to be listed on the main board of the London Stock Exchange.

The reason for Avuru’s sack, which he has described as mischievous with a calculated attempt to malign his reputation, is what they purportedly claim to be a breach of the company’s corporate governance policies and his fiduciary duties. Although Avuru through his lawyers have advised the public to disregard the sack, one cannot deny the the alleged obvious link between his sack and the scandals that have been rocking SEPLAT these past few months.

The company’s reputation has taken quite some damage as a result of the board chairman, Dr ABC Orjiakor’s indiscretions. Orjiakor is indebted to the tune of $78 million dollars via his Sheba Petroleum Development Company Limited. This prompted some Nigerian banks to drag him to court and some of his business partners warned to give SEPLAT a wide berth. A French independent non-executive director of SEPLAT resigned his position as a result of this. Although he claimed to have resigned for personal reasons.

With Orjiakor forced to resign his position as chairman, following the embarrassment, coupled with Avuru’s sack, there is no denying that this may just be an alleged purge to rid SEPLAT of the last vestiges of the duo that have come to symbolise SEPLAT.

What a way to get rid of a thoroughbred professional and vocal advocate of indigenous participation in the exploration and production sectors of the Nigerian oil industry. In fact, Avuru has in the past, come close to being appointed as the Group Managing Director of the NNPC, specifically during the tenure of the late President Umaru Yar’adua. With a career spanning over 30 decades, Avuru’s career traverses NNPC as a youth corps member, Allied Energy (Nig.) Limited as the Exploration Coordinator, SEPLAT petroleum which he co founded with Orjiakor, among several others. In 2020, he stepped down as both co-founder and pioneer Managing Director of SEPLAT. Today, Delta State-born Avuru spends his time running Platform Petroleum Ltd, a company he founded in 2003 and later teamed up with Orjiakor to create SEPLAT.

Ronke, on the other hand, is a trained lawyer who joined OANDO in 2002 after a legal career that spanned 12 years with both Ighodalo and Associates, a company secretarial firm and the prestigious firm of Aluko and Oyebode where she left as a partner. While in Oando, Ronke rose through the ranks to become the Chief Legal Officer. In 2011, she left for public service in Ogun State and proceeded to serve as a commissioner under Senator Ibikunie Amosun’s two-term administration as governor. In January 2019, she was appointed Chairman of the Board of Directors of the Nigeria Deposit Insurance Corporation where she still serves till date. A mother of one, Ronke used to be married to Gbenga Sokefun, the older brother to celebrity photographer, TY Bello. The marriage allegedly ended after Gbenga fell on bad times. Gbenga has however, now regained his groove.

The Will.

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Billionaire Femi Otedola’s mother, Christine, receives prestigious Papal honour…

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In a remarkable recognition of her selfless service to the Catholic Church and society, Mrs Christine Doja Otedola, mother of renowned businessman Femi Otedola, has been conferred with a Papal Honour by Pope Francis.

 

 

A Papal Honour, also known as a Pontifical Honour, is a prestigious award conferred by the Pope, the head of the Catholic Church, on individuals who have demonstrated exceptional service, dedication, and commitment to the Church and society.

 

The honour, one of the highest in the Catholic Church, was presented to Mrs Otedola by His Grace, Archbishop Alfred Adewale Martins of the Metropolitan See of Lagos, on behalf of the Pope, on September 14.

 

Mrs Otedola was specifically recognised in the Pro Ecclesia et Pontifice category, a testament to her unwavering commitment to the Church and humanity.

 

Femi Otedola took to his X page to celebrate his mother’s achievement.

 

 

Sharing photos from the ceremony and expressing his pride, he wrote: “Congratulations, Mummy – Dame Christine Doja, on your award of the Papal Honour of Pro Ecclesia et Pontifice by His Holiness Pope Francis. This is an honour well deserved.”

 

 

 

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Real Reasons ICPC Arrests El-Rufai’s Finance Commissioner, Shizzer Joy Nasara Bada At Lagos Airport

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Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos. 

 

 

 

Operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have arrested a former Commissioner of Finance and Accountant General in Kaduna State, under Nasir el-Rufai’s administration, Shizzer Joy Nasara Bada at the Lagos Airport.

 

 

Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos.

 

The ICPC officials said there was rising suspicion of a potential escape in the wake of mounting corruption allegations against the ex-governor el-Rufai, and herself.

Sources close to the government indicated to The Guardian that the ICPC had been tracking Bada’s movements after receiving an intelligence report suggesting that she might leave the country to evade investigation.

 

 

 

The arrest came as part of a broader crackdown on officials who served under el-Rufai’s administration, with multiple figures now under scrutiny for their roles in the alleged financial mismanagement of the state.

 

 

Already, el-Rufai has been indicted by the Kaduna State House of Assembly in its committee report of allegedly syphoning N423 billion from the state treasury. While the specific allegations against Bada remain under wraps, insiders believe they are connected to large-scale financial irregularities, including the mismanagement of public funds and alleged embezzlement.

Bada’s arrest has sparked widespread interest, with political observers questioning whether this could be the beginning of a wider probe into the former governor’s administration.

 

 

 

The Commission is expected to provide more details as the investigation unfolds, potentially exposing a web of corruption that could implicate several top figures.

Recall that Nasir El-Rufai, had also initiated a legal action against the Kaduna State House of Assembly following its claim that his administration misappropriated N432 billion during his eight-year tenure, resulting in significant state debt.

 

 

 

A fundamental rights suit was filed at the Federal High Court in Kaduna in June by the former governor’s attorney, Abdulhakeem Mustapha, a Senior Advocate of Nigeria.

 

 

 

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Pre-paid meter bills: Nigerians dump electrical appliances to cut cost  …..

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Usage of electrical appliances is one lifestyle Nigerians have come to embrace to achieve ease and save time in the various activities they perform in their homes.

 

 

During the era of pre-paid metres, gadgets such as electric stove, cooker, blenders, washing machines, boiling rings, pressing iron, deep freezers, among others, were highly purchased by households to either upgrade their kitchens or ease time in activities surrounding their lives.

 

 

Many especially women join thrift’s contribution (ajo or esusu as popularly known in Nigeria) to be able to raise money to purchase some of these items thereby putting smiles on the faces of producers and distributors of such gadgets.

 

However, the economy and lifestyle has discovered that many households have now abandoned the use of most of these gadgets since the introduction of prepaid meters.

 

Some ended up selling them to people selling fairly used products or other people still on post paid meters.

 

 

Mrs. Bridget Johnson, a banker said: “ Since I started using prepaid meter, I have stopped using most of my gadgets, especially the electric cooker, washing machine, pressing iron, among other things.

 

“We watch television set once a day. I had to buy an ipad where I downloaded various types of cartoons and educational materials for my kids to keep them busy.

 

“We switch off the lights and put on my fridge for three hours and switch it off once it is iced for a day.

 

“The rate at which the prepaid meter runs is alarming of recently.

 

 

Before I pay N32 per unit and when I load N10,000 with strict adherence to the rules my husband and I placed in the house it lasts us up to two weeks for the bills to get exhausted.

 

 

But recently, I discovered that when I loaded the N10,000 it wasn’t up to the two weeks before it finished.

 

“I had to call the electricity distribution office where they told me I had been transferred to band A.

 

“I was so pissed off with such a transition but had no choice than to accept it .

 

“In Nigeria of today you have to cut costs whether you like it or not.”

 

 

Mr. Shodimu Olorunfemi, a businessman, said: “Using a prepaid meter has its own advantages. “One of them is regulating what you consume.

 

“By doing so you have to forfeit carrying out certain lifestyles, especially using electronic gadgets that consume lots of electricity.

 

“Such gadgets like electric cooker, hot plate, pressing iron, refrigerator, Air conditioner, among others consume higher units of electricity.

 

 

In my house, I prohibited the switching on of lights during the day and also watching television all the time.

 

“Except I have a very important event I want to attend, I don’t iron my clothes. I pick the clothes for each day and hang them to straighten up.

 

 

My wife and I had to give out most of our gadgets to family members and friends who use post paid meters.

 

“With this development and the state of the economy, those selling electronic gadgets are on the losing side because people like us will not even have a spoilt gadget talk of buying a new one.”

 

For Mrs. Bakare Judith, a secretary and newly wed, she sold all her home appliances that consume high electricity units.

 

“I had to sell most of the electric gadgets I brought to my husband’s house when I discovered that he was using a prepaid meter.

 

 

I use the blender once in two months and ironing is done once in a blue moon.

 

 

 

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