GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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COURT ADJOURNS EX-AIR CHIEF,AMOSU,OTHERS ALLEGED 21BN FRAUD TRIAL TILL JUNE 7.(PHOTO).#PRESS RELEASE.

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Court Adjourns Ex-Air Chief, Amosu, Others’ Alleged N21bn Fraud Trial Till June 7

Justice C.J. Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, March 8, 2023, adjourned till June 7, 2023 further hearing in the alleged N21bn fraud involving a former Chief of Air Staff, Adesola Amosu, and two others.

The Economic and Financial Crimes Commission,  EFCC,  on Tuesday,  November 13, 2018, re-arraigned Amosu  alongside  Air Vice Marshal Jacob Bola  Adigun, a former Chief of Account and Budgeting, and Air Commodore Gbadebo Owodunni, a former Director of Finance and Budgeting on an amended  13-count charge bordering on money laundering to the tune of N21bn.

The defendants are being prosecuted for alleged conspiracy  and  conversion  of the funds belonging to the Nigerian Air Force, NAF, to the their personal use.


 

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