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We Have Done No Wrong, GIC Oil and Gas Services Limited Debunks Alleged Fraud

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The GIC Oil and Gas Services Limited has denied claims made by some online publications (not The Boss Newspaper) that the company and its CEO, Godwin Ebolo, defrauded a Nigerian bank.

A statement made available to journalists on by the Group General Manager, GIC Oil and Gas Services Limited, Rotimi Olarewaju, stated as follows:

“Our attention has been drawn to some online publications wherein certain facts about our organisation and Managing Director, Gowin Ebolo, were misstated. Owing to this development, it has become consequent upon us to set the record straight for the general public.

“We are calling on all responsible Nigerians to refrain from making untrue assertions about GIC Oil and Gas Services Limited and its Managing Director, Gowin Ebolo, as the facts of this issue is a matter of public record and any and everyone is welcome to it.

“We have resolved that this press release will be our last action on explaining the matter, but we shall not hesitate to prosecute further libellous statements on this issue as it damages the companys reputation and its good standing with its various partners foreign and local.

“In 2013, GIC Oil and Gas Services Limited approached Heritage Bank Plc for a loan totalling US $13.5 million divided into $3.5 million working capital and $10 million bank guarantee to facilitate a waste management contract for Allied Energy Plc.

“We also approached Enterprise Bank in the same year for a thermal desorption plant and waste management equipment in the amount of UD$8 Million for a Shell Petroleum Development Company of Nigeria Limited (SPDC) contract.

“Both facilities were approved and disbursed with GIC Oil and Gas Services Limited contributing ten per cent (10%) in equity for the equipment purchase. The items were bought and paid for pending the commencement of the SPDC job.”

According to Olanrewaju, “It is worthy of note that Enterprise Bank later merged with Heritage Bank and the loans were consolidated.

“With extended delays in the commencement of the project, the bank grew increasingly anxious and thus the issues on the loan availed began.

“As the commencement date of the SPDC project was not yet ascertained at that time due to circumstances beyond our control, the bank took possession of the equipment purchased with the loan facility.”

The statement further noted that “Once the bank realised that these equipment, being project specific, were of no use to both them and GIC Oil and Gas Services Limited without the project, they immediately recalled their loan facility and requested for immediate full payment.

“On the Allied Energy Project, a change in management led to the cancellation of the project completely. Sadly, an occupational risk in our industry.

“Since our finances are always tied to individual projects, the bank was made aware that repaying the loan facility without project commencement would be extremely difficult, but we were willing to agree to a scheduled repayment structure.

“During this period, GIC Oil and Gas Services sought to negotiate a settlement with the bank and while this was ongoing, Godwin Ebolo left the country because of a medical emergency.

“It was at this point we became aware that the loan facility had been reported to the Economic and Financial Crimes Commission (EFCC) by the bank and Ebolo was immediately declared wanted without invitation or notice.

“On finding out that Ebolo was declared wanted by the EFCC, he immediately returned to the country and presented himself to the EFCC wherein the unfortunate mug-shot was taken.”

“Olanrewaju said that Several court proceedings later, the fraud case was dismissed by the Justice A.I. Iyayi-Lamikanra of the Rivers State High Court (attached is a copy of the judgment Suit No.: PHC2631/2016).

“Ebolo was subsequently cleared by the EFCC vide their letter Ref: CR:3000/EFCC/LS/PFS/C/VOL3/033 dated October 6, 2016 and communicated to the various security agencies accordingly.

“Finally, we would like to state that a repayment structure of the outstanding facilities has been mutually agreed by GIC Oil and Gas Services Limited and Heritage Bank Plc. The repayment which has since commenced is being made from contract proceeds from the SPDC job.”

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Stay Away from CBT Centres, JAMB Warns Parents, Threatens Arrest

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As this year’s Unified Tertiary Matriculation Examination (UTME) begins on Friday, the Joint Admissions and Matriculation Board (JAMB) has vowed to arrest parents found near any Computer-Based Test (CBT) centre during the 2024 UTME exercise.

The directive was issued at the final briefing of the CBT centre owners, which was held virtually on Wednesday, 17th April, 2024.

The spokesman for JAMB, Fabian Benjamin, said this directive became necessary following the intrusive disposition of some parents during the Board’s previous exercises.

Benjamin, who quoted JAMB Registrar Prof. Is-haq Oloyede, said any parent, who disobeys the order would not only be arrested but his ward would also be disqualified from sitting for the examination.

Oloyede explained that this measure became necessary as it has been discovered over time that many of these intruding parents are facilitators of examination infractions while others have, by their actions, disrupted the Board’s examinations in the past.

He added that some miscreants also disguise as parents to infiltrate the centres to perpetrate all forms of infractions.

“The Board’s helmsman noted that going by the extant national policy on education, a candidate for the examination must have attained the age of 17 years.

“Therefore, it is evident that these parents had not allowed their wards to pass through the classes as defined in the document, hence the desperation to follow their wards to the examination venue with the aim of compromising examination officials.

“At any rate, it is clear to any discerning observer that these parents deserve to be sanctioned as they had obviously ‘smuggled’ underage children into the ranks of those scheduled to sit the examination,” the Board note through a statement.

Furthermore, the Registrar said all arrangements have been concluded for the conduct of the 2024 UTME, which will be held in over 700 CBT centres across the nation.

He disclosed that the Board expects a seamless exercise but it has nevertheless made adequate provision to tackle any technical glitch that might occur in the course of the examination.

He, however, warned that if a session experienced any technical challenge, candidates in subsequent sessions would be allowed to sit their examination as scheduled while the candidates in the challenged session would be rescheduled for the last session for the day or the following day or even further depending on the centre schedules.

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Oyo Govt Demolishes Operational Base of Yoruba Nation Agitators

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The Oyo State government, on Wednesday, demolished a building serving as the operational base of the Yoruba Nation agitators led by Modupe Onitiri-Abiola, in Ibadan.

Onitiri-Abiola, one of the widows of late Bashorun M.KO Abiola, had declared the creation of the so-called Yoruba Nation in a video posted online, which has been widely condemned.

Last Saturday, some armed men in military uniforms invaded the Oyo State Secretariat, with the motive to forcefully take over the State House of Assembly, before they were dislodged by the combined efforts of police and troops for the Nigeria Army 2 Division..

Mr. Fatai Owoseni, Special Adviser on Security Matters to Governor Seyi Makinde, confirmed the demolition of the house located at Toye Oyesola Street in Ibadan South West Local Government Area.

Already, no fewer than 29 suspects – including a lecturer – arrested in connection with the foiled armed invasion were on Wednesday arraigned by the police before a Chief Magistrates’ Court in Ibadan.

In a case with charge number Mi/520c/2024 between the Commissioner of Police and the 29 suspects, they were accused of a seven-count charge of treasonable felony, unlawful society, illegal possession of firearms, and conduct likely to cause breach of peace.

Inspector Bakare Rasaq, the Investigative Police Officer (IPO) at the State Criminal Investigation Department, Iyaganku, Ibadan, said the offence contravenes, and is punishable under Section 516 of the Criminal Code, Cap 38, Vol. II, Laws of Oyo State of Nigeria, 2000.

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PDP BoT Queries Damagum, Anyanwu’s Continued Stay in Office

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The Board of Trustees of the Peoples Democratic Party has queried the continued stay in office of the party’s acting National Chairman, Umar Damagum, and National Secretary, Samuel Anyanwu.

Recently, many party members have raised concerns about the ongoing tenure of Damagum and Anywanwu in their respective positions.

Previously serving as the PDP National Deputy Chairman (North), Damagum assumed the role of acting National Chairman following the court’s suspension of the party’s National Chairman, Iyorchia Ayu, in March of the preceding year.

With the National Secretary being selected as the PDP candidate for the Imo State 2023 governorship election, the South zone has been grappling with nominating a replacement. Despite this, he, along with other party leaders, contested and retained the position of party secretary after losing to Governor Hope Uzodinnma.

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