An unknown group of gunmen on Tuesday night, seized a vessel reported to be affiliated to Chevron Oil, and kidnapped its 11 passengers, nine of whom are Nigerians, a Portuguese and an Ukranian. The gunmen are demanding a ransom of N30 million for the release of the hostages.

The boat owned by Tide Waters was said to be carrying supplies for the American oil company— Chevron. The attack on Lourdes Tide took place between Onne and Escravos.

Abuja - The Senate may have to wield the big stick on Senator Iyabo Obasanjo-Bello with the consequent declaration of her seat vacant if she continues to shun the attendance of proceedings of the upper chamber.This follows her continuous absence from the Senate sessions since her case with the Economic and Financial Crimes Commission (EFCC) which has charged the Chairman of the Senate Committee on Health to court over her alleged involvement in the N300 million fraud at the Ministry of Health.The Senate spokesman and chairman of its Committee on Information and Media, Senator Ayogu Eze, disclosed this on Tuesday during the weekly press briefing by the Senate.  Senator Eze, who admitted that Obasanjo-Bello’s case was beyond the jurisdiction of the Senate, the case having already been taken to court for adjudication, said the Senate was, however, worried over the continued absence of the legislator at the proceedings of the House, a development which he said contravened the provisions of the 1999 Constitution.  Senator Eze, who also said that the Senate could not account for her now, stated that the Senate was expected to sit for a minimum of 181 days in a year, and the constitution made it mandatory for a senator to attend two-thirds of that 181 days, failure of which an interested party from her constituency could notify the National Assembly leadership. Giving details of the procedure, Eze said: “Attendance at sittings of the Senate is voluntary. Every member is subject to the rules and law of Nigeria. The Senate is expected to do a minimum of 181 days in a year and by law, it is also mandatory and a senator is expected to do two-thirds of that 181 to qualify to continue in the chamber.” According to Senator Eze, “it is not the responsibility of the leadership or members of the Senate to fish around for a senator who is not coming. What happens when a senator is absent for considerable number of times is that an interested party or member of the constituency of the senator concerned notifies the National Assembly leadership or the Senate that well, so and so, and so, so, person has been absent from the Senate for so and so period and I think that constitutionally, his or her membership of the National Assembly has lapsed.  “If the records of her attendance are checked and the person has not attained the constitutional period required for his or her membership to continue, there is no other procedure required except to write to the Independent National Electoral Commission (INEC). The Senate President is expected to write INEC to say that so, so and so person has not met the constitutional requirement, therefore conduct election to fill the vacancy. That is what the law says.” Click here to read the rest of the story from the Tribune 

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Abuja - Former President Olusegun Obasanjo and his deputy, Alhaji Atiku Abubakar, failed to appear before the House of Representatives’ Committee probing the power sector with Chief Obasanjo in his usual self, sparingly showing his disgust with the committee chairman for sending an invitation to a probe panel that was signed on the latter’s behalf.

The invitation letter had been signed by “one Sahmed” (in Obasanjo’s words), instead of the Speaker or the Clerk of the National Assembly, as protocol demands. The former president also objected to the “disregard” for his age and position, and wondered why a letter dated May 3, 2008 only got to him six days later.

USA - United States of America has launched a comprehensive probe of the Nigerian oil industry over an alleged bribery scandal involving  a former Halliburton subsidiary, Kellogg Brown and Root, (KBR) and some unnamed Nigerian officials during negotiation for its work on a key Royal Dutch Shell project in Nigeria. The probe is to cover a period of 20 years.

Halliburton’s Nigerian scandal widened from accusations of bribery to accusations of embezzlement by senior executives. The company recently dismissed two of its most senior executives, Robert Stanley and William Chaudin, on suspicion of embezzling $5 million from a Nigerian energy project. The KBR is a leading global engineering, construction and services company supporting the energy, petrochemicals, government services and civil infrastructure sectors.

Abuja - Following complaints by subscribers who participated in the public offers  embarked upon by banks in the country and their inability to access their share certificates, months after the exercise had been concluded, the Central Bank of Nigeria [CBN] and Securities and Exchange Commission (SEC) will meet next week to sort out the problem.