ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE   ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).   The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).   To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.   The two nominees are seasoned professionals in the oil and gas industry.   Eyesan, a graduate of Economics f...
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VIETNAMESE BILLIONAIRE SENTENCED TO DEATH IN $12.5BN FRAUD CASE. (PHOTO)

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  Vietnamese property tycoon Truong My Lan, chair of Van Thinh Phat (VTP), has been sentenced to death for a multibillion-dollar fraud case involving embezzlement, bribery, and banking violations.



Lan, 67, was accused of a $12.5bn fraud, equivalent to nearly 3% of Vietnam's 2022 GDP.



She allegedly took out $44bn in loans from Saigon Commercial Bank, with $27bn possibly unrecoverable.



The high-profile trial, ending earlier than planned, shook Vietnam, as VTP was a major developer. 



Vietnamese stocks plummeted $40bn in 2022 due to corporate arrests, impacting investor confidence amid economic growth.

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