Buhari's meeting with Kachikwu set for Friday

Maikanti Baru And Ajimobi Commission The NNPC Ibadan Depot

The office of the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC) has not responded to allegations raised against its boss by Minister of State for Petroleum Resources Dr. Ibe Kachikwu.

Mr. Kachikwu in a letter dated August 30 which surfaced in the internet on Tuesday had criticised Mr. Baru over illegal practices and appealed to President Buhari to take urgent steps to address his concerns.

Kachikwu further accused Baru of undermining his authority and appointing senior executives of NNPC without his input and board approval.

Anyanwu who is the chairman, senate committee on public petitions, ethics and privileges alleged that Baru was involved in huge corruption, accusing him of using a panama-based company, duke oil as sole importer of oil and gas into Nigeria even when it lacks the capacity and credentials to trade internationally.

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On September 22 Jefferies made no change to the company rating of "Buy" but moved up the price target to $300.00 from $230.00. Plancorp Llc decreased its stake in Boeing Co (BA) by 40.21% based on its latest 2017Q2 regulatory filing with the SEC.

"We are also concerned that the net effect of the above arrangement is that NNPC and by extension Nigeria earns less than it would have if the process was open and transparent, where products are sold directly to indigenous oil traders".

He said further that the company enjoys massive support of NNPC in trading of crude oil in the global market in spite of grappling with the basics of what it was registered to do.

"The Senate has constituted this ad-hoc committee to investigate the policies introduced by the current GMD of NNPC to allocate all products to Duke Oil and carry out a holistic investigation into the activities of NNPC Trading Limited", it said.

"We demand as bonafide Nigerians, an express order from President Muhammadu Buhari to the NNPC GMD asking him to go on compulsory leave so that investigation into the matter at stake can be conducted without interference", he said.

Sibanye Gold Limited (NYSE:SBGL)
The company was able to keep return on investment at 19.10% in the last twelve months. 2,138,519 shares of the stock traded hands. Year to date is 31.55%, 32.79% over the last quarter, 20.74% for the past six months and 33.82% over the last 12 months.

"Nigerians can now see the hypocrisy in the so called anti-corruption fight".

"And they must be investigated and the reports brought back to us as soon as possible".

It is not known how the memo surfaced online but Kachikwu says he had tried in vain to meet with President Buhari at the State House hence the memo.

Maeba described the Minister's action as an act of extreme behaviour.

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Lombardo said the investigation is proceeding cautiously in case criminal charges are warranted against someone else. She returned late on Tuesday from a family visit to the Philippines. "Currently she is a person of interest".

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