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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EFCC SECURES FINAL FORFEITURE OF TRACTORS, AUTO RICKSHAWS. (PHOTOS). #PRESS RELEASE

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 EFCC Secures Final Forfeiture of Tractors, Auto Rickshaws


Justice Haleema Saleeman of the Kwara State High Court, Ilorin has ordered the final forfeiture of two tractors and two auto rickshaws by Kayode Oyin-Zubair, a former Special Assistant on Community Intervention to ex-Kwara State governor, Abdulfatah Ahmed in favour of Self Reliance Economic Advancement Programme, SEAP in the state.


In giving the ruling on Thursday, July 24, 2025, Justice Saleeman dismissed an application filed by Oyin-Zubair, seeking to set aside an earlier interim forfeiture order on the items and upheld the arguments of EFCC’s counsel, Mustapha Kaigama in favour of the applicant, Self Reliance Economic Advancement Programme, SEAP that the assets were acquired with proceeds of unlawful activity. The forfeited items are valued at N57.4 million.


Oyin-Zubair, who served who served as an Assistant to former governor Ahmed between 2020 and 2023,  had approached SEAP to finance the procurement of 100 auto rickshaws, commonly called “tricycles” and 100 mini-buses for members of the Tricycle Owners Association of Nigeria (TOAN), National Union of Road Transport Workers (NURTW), and Road Transport Employers Association of Nigeria (RTEAN). While SEAP disbursed N192 million for the purchases, investigations revealed that N72 million in repayments made by the beneficiaries was diverted and used by Oyin-Zubair to acquire two tractors and two auto rickshaws.


The EFCC recovered the illegally acquired items in a warehouse along Fate Road, Ilorin and secured an order for their interim forfeiture.

More photos below. 





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