Business Leaks

14/11/2023

How Organised Crime took over Nigeria’s Free Trade Zones.

Business leaks focuses on investigative journalism. Business Leaks Investigation

11/11/2023

Corruption in Nigeria’s Free Trade Zones as bad as Oil theft.
In this special report, the new loops created as a cash cow for unscrupulous officials in the Free Trade Zone is discussed.

For six decades, Nigeria's oil sector has been plagued by rampant corruption, with rogue politicians, military chiefs, government officials

29/09/2023

Barely eight days after Bola Ahmed Tinubu was sworn in as the new President of Nigeria, Ballard Partners officially announced its presence in Nigeria. Pulse Nigeria Sahara Reporters Arisetvnews

Barely eight days after Bola Ahmed Tinubu was sworn in as the new President of Nigeria, Ballard Partners officially announced its presence in Nigeria

27/02/2023

https://businessleaksng.com/2022/11/09/gilbert-chagouri-the-secret-comeback-of-abachas-billionaire-bagman/

Business leaks focuses on investigative journalism. Business Leaks Investigation

14/02/2023

Hello Subscribers,

We want to inform you that FACEBOOK, a social network that is supposed to be transparent, has hindered our investigations from reaching you. Our reports have been deleted or blocked from viewers. We urge FACEBOOK to allow credible investigations regarding corruption in Nigeria to get to Nigerians and other stakeholders. Sahara Reporters BBC News Africa EFCC Library

21/12/2022

https://businessleaksng.com/2022/12/07/documents-show-verod-steel-ltd-received-n12-6-billion/

Documents obtained from the Budget Office of the Federation, Nigeria Customs Service, and elsewhere are all showing a mockery of fiscal policy recklessness; making duty waivers in Nigeria synonymous with cronyism, racketeering, political patronage and outright diversion of public funds. In 2011 the sum of N56 billion was issued by the Federal Government as waivers on import duties, levies, ECOWAS Trade Liberalisation Scheme (ETLS) charges, Comprehensive Import Scheme (CIS) and other charges.

15/11/2022

INVESTIGATION: Foreign vessels fly Nigerian flag, corner 10-billion-dollar Maritime contracts under false pretexts

-oil theft not the only way Nigeria is losing millions of dollars daily

Large foreign vessels sailing into the Niger Delta to steal crude oil are certainly not the only way Nigeria loses millions of dollars every day in the oil and gas sector.

09/11/2022

The secret comeback of Abacha’s billionaire bagman: Hosted Tinibu in Paris (July)
BBC News Africa Sahara Reporters EFCC

Business leaks focuses on investigative journalism. Business Leaks Investigation

28/09/2022

How 3 lucrative oil blocks were sold for peanuts by corrupt NNPC officials

Corruption in Nigeria’s oil and gas sector has become so mind-boggling that today there is nothing left in the coffers of the Nigerian National Petroleum Corporation (now called Nigerian National Petroleum Commission Limited, NNPC Limited).

Years back this would have sounded like fiction but today there is not a single kobo inside NNPC account. Everything has been stolen. For eight straight months NNPC has not been able to remit a kobo to the federation account. Crude oil sale is the highest revenue earner for the Nigerian government. Every month, the 36 state governors gather in Abuja to share sales proceeds but these days they go back to their states virtually empty-handed.

Massive crude oil thefts by cartels composed of powerful politicians, top government and NNPC officials and top military brass is the major reason Nigeria as a nation has very little crude left for sale every month on the international market. But there are a dozen other secret methods NNPC officials collude with foreign interests to rob Nigeria of its oil wealth.

BUSINESS LEAKS, in a painstaking investigation, uncovers how three lucrative oil blocks were sold for peanuts to a foreign interest. Read more:

Reporters Network News Government of Nigeria Buhari
https://businessleaksng.com/2022/08/31/how-oml-67-oml-68-and-oml-70-were-undervalued-by-corrupt-nnpc-officials/

13/09/2022

In December 2020 Vitol Group U.S subsidiary agreed to pay $164 million to settle charges of corruption and fraud...

31/08/2022

Nigerians may still be reeling from the aftershock of the super-tanker theft of crude oil intercepted in Equatorial Guinea, however, emerging details of the botched ExxonMobil-Seplat oil assets acquisition would make the estimated 400,000 bpd (barrels per day) crude heist pale into insignificance.

https://businessleaksng.com/2022/08/31/how-oml-67-oml-68-and-oml-70-were-undervalued-by-corrupt-nnpc-officials/

BBC News Africa NNPC

When Mele Kyari, Group CEO of Nigerian National Petroleum Commission Limited (NNPCL) - formerly Nigeria National Petroleum Corporation, NNPC

22/08/2022

BUSINESS LEAKS obtained over 400 pages of bank documents as well as a comprehensive list of depositors, not a few of whom lost personal funds ranging from millions to over one billion naira each.


https://businessleaksng.com/2022/08/21/uncovered-documents-show-how-kyc-failures-by-4-commercial-banks-aided-n30-billion-investment-scam%ef%bf%bc/

Fantastic failures of due diligence, particularly the critically-important Know-Your-Customer (KYC) in four commercial banks, have produced startling knock-on effects, culminating in a N30 billion investment scam in Nigeria’s beleaguered economy

19/07/2022

Shipping fraud: 17 companies import Rolls Royce, 553 bullet-proof vehicles into Nigeria using only one Form M

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BUSINESS LEAKS has been following the paper trail of some high-flying and politically-connected business owners widely regarded as enablers of organized crime activities in Nigeria’s maritime sector.

The “Port Cabal” are said to have “swindled Nigeria of over 30 trillion naira in recent years”.

Read More Here: https://businessleaksng.com/2022/06/15/shipping-fraud-17-companies-import-rolls-royce-553-bullet-proof-vehicles-into-nigeria-using-only-one-form-m/

Large-scale fraud in the Nigeria Customs Service appears to be taking a turn for the worse as a total of 17 companies are discovered to have imported millions of dollars worth of luxury vehicles

13/07/2022

How Nigerian fraudsters loot European banks (2)

Refugees enjoy many rights in the asylum camp. Bank accounts are opened for them through which they receive monthly stipends for their welfare from the Dutch government.

13/07/2022

Solving military airlift shortage

When it comes to building military capacity in Africa, adding aircraft tends to take a back seat because of the expense involved to acquire combat craft, trainers and cargo planes.

12/07/2022

GOVERNORSHIP: GAWUNA, GRADUALLY GAINING GROUNDS.

The race for the successor of Governor Ganduje in Kano has since commenced, and the state is set to start the political fireworks, especially amongst pundits,

11/07/2022

Triangle: Where stolen Nigerian crude oil is sold (2)

Most people in the crowd at Togo Triangle are mere foot soldiers. Oil traders based anywhere in the world can remotely arrange buys

11/07/2022

angry, summons GMD over N3 billion slop oil sale

In the wake of Kaduna, Port Harcourt and Warri Refineries unable to produce Low Pour Fuel Oil (LPFO) as a result of a major rehabilitation exercise slated to last 44 months,

10/07/2022

SHEKARAU/KWANKWASO: THE FUTILITY OF THE FRATERNITY.

Mallam Ibrahim Shekarau is set to defect from the ruling All Progressive Congress, APC, to join Dr. Rabiu Musa Kwankwaso in the New Nigeria People’s Party, NNPP.

08/07/2022

INVESTIGATION: Secret memos and documents from MTN’s $14 offshore transfers

Secret memos and bank forensics exclusively obtained by SATELLITE TIMES show that the official investigation of MTN was initiated by the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami

08/07/2022

shocks manufacturers, undermines national interest in shady sale of Slot Oil

Industry stakeholders, shocked to the marrow because slop oil has never been exported in the history of the NNPC,

07/07/2022

EP invests USD 30 billion in Nigeria oil & Gas sector in 8-years.

The company had made a lot of investments in developing the country’s oil resources since it began operation in the last 60 years

06/07/2022

THE AFTERMATH OF ARRESTING AND CALLING AN ACCOUNTANT TO ACCOUNT.

Ahmed Idris was arrested over alleged money laundering and diversion of at least N80 billion in public funds, which was allegedly laundered through some bogus contracts

06/07/2022

loses $600 million annually to illegal fishing

More than 50 years ago, researchers announced a new international fishery in the Gulf of Guinea off the coast of West Africa.