• Oando denies ownership of Malta oil storage amidst accusation
• CBN sells $148m to 29 licensed dealers in two days
• Petrol queues resume in Abuja, Ogun State in fear of upcoming protest
• President Tinubu admits to failing Nigerians as protest looms
• LG autonomy: AGF sounds warning to LG chairmen and councillors who embezzle funds

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Oando denies ownership of Malta oil storage amidst accusation

Oando, a Nigerian oil company, has come out to debunk the allegations of owning a Malta oil storage as Nigerians question its integrity.

A report released on July 26 alleged that President Tinubu’s family might own Oando, and rather than building an oil refinery in Nigeria to curb the exportation of crude oil, one was constructed instead in Malta to satisfy the coins of all those involved.

Amidst the drama, Oando has released a statement denying ownership to the Maltese storage and blending facility named Ras Hanzir Oil Terminal Ltd.

CBN sells $148m to 29 licensed dealers in two days

The Central Bank of Nigeria (CBN) sold $148 million of foreign currencies to authorised dealers on July 22 and 23.

According to the CBN, the funds were sold to 29 dealers at the rate of ₦1,470/$ while it bought $2 million from an authorised dealer bank at the rate of ₦1,505/$.

“The Central Bank of Nigeria (CBN) sold a cumulative sum of US$148,000,000.00 (One Hundred and Forty-Eight Million United States Dollars) in the Nigerian Foreign Exchange Market (NFEM) to Authorised Dealers on July 22 and 23, 2024,” the bank revealed.

Petrol queues resume in Abuja, Ogun State in fear of upcoming protest

Fuel queues have resumed in states like Abuja and Ogun State as filling stations in Abuja, Kogi, Niger, and Nasarawa States shut down due to the upcoming nationwide protest, which is said to begin on August 1.

Oil Marketers have expressed their fear of the protest as well as retail outlets owned by NNPCL, Eternal, Salbas Oil, and Gegu Oil have paused the dispensation of their oil sales in Abuja, Kogi, Niger and Nasarawa.

The absence of active fuel stations has created fuel scarcity and caused queues at filling stations within these states as Nigerians struggle to purchase fuel at the rate of ₦800/litre.

President Tinubu admits to failing Nigerians as protest looms

While the #EndBadGovernanceInNigeria hunger protest is almost here, the President has admitted to failing Nigerians, which is something he cannot afford to do since he pleaded to become the President.

President Bola Ahmed Tinubu met with traditional rulers, including the Sultan of Sokoto and the Ooni of Ife, to whom he confessed his shortcomings.

Tinubu assured Nigerians that he would ensure that the country’s economy rises back to its glory days, stating that the economy was on a gradual yet steady path to recovery despite the many situations.

LG autonomy: AGF sounds warning to LG chairpersons and councillors who embezzle funds

The Attorney General of the Federation (AGF) has warned all Local Government Chairmen and Councillors who might be tempted to embezzle the funds (given to the LGA from the federal government) of the possibility of being imprisoned for their theft.

The AGF and Minister of Justice, Lateef Fagbemi (SAN), issued the warning at the validation meeting of the National Anti-corruption Strategy (NACS) Action Plan 2022-2026, stating that unlike LG chairpersons and councillors, Governors have immunity; therefore, if anyone were being coerced to embezzle, the governors would not be in prison.

“You don’t have to preach to anybody. Those who would become Chairmen and Counsellors, at least, should be able to read and write. They will know that stealing is a crime and that if you steal, the penalty is there,” he told the EFCC and ICPC.