CBN Appoints Nine Pre-shipment Inspection Agents, Two Evaluation Teams for Oil, Gas Exports

Peter Uzoho

In an apparent move to step up transparency and accountability in crude oil and gas sales, the Central Bank of Nigeria (CBN) has appointed 11 pre-shipment agents comprising nine inspection agents and two monitoring and evaluation agents for oil and gas exports in Nigeria.

The appointment was contained in a circular entitled, TED/FEM/PUB/FPC/OO1/014, dated May 13, 2024, signed by the CBN’s Director, Trade and Exchange Department, Dr. Hassan Mahmud.

It revealed that the appointments take effect immediately.

The appointments came coming a little over three months after President Bola Tinubu had in January, instructed the CBN to assume control of crude oil sales from the Nigerian National Petroleum Company Limited (NNPCL).

The presidential directive required the NNPCL to submit all receipts for crude oil sales to the CBN for vetting and documentation, and it was aimed to close any potential gaps in reporting and ensure accurate records of oil revenue.

The CBN circular seen by THISDAY yesterday, stated that the appointments included nine pre-shipment inspection agents and two monitoring and evaluation agents.

The circular listed the nine Pre-Shipment Inspection Agents as follows: Neroli Technologies Limited to be in charge of Qua Iboe, Forcados, and Bonny; Holborn Oil and Gas Inter Ltd to monitor Usman, Egina, and Yoho; while Swede Control Intertek Ltd will monitor Ima (Otakikpo), Erha, and Ajapa.

Others are Fel Tov Energy & Investment Ltd for Tulja, Antan and Odudu; JBIS Inter and Resources Ltd to be incharge of Agbami, Bonga, Okoro and Akpo; Patibon Services Ltd to monitor Ebok, Oyo, Peninton, E.A, and Okwori; while Offshores Bulk Inspection Co Ltd is responsible for Escravos, Brass and Anyyala-Madu.

Furthermore, Candid Oil Services Ltd is to man Okono, Ugo-Cha, Abo and Aje; while Dakee Engineering and Construction Limited will be incharge of LNG, Escravos and Bonny River Terminal (BRT).

However, under the two Monitoring and Evaluation Agents, Arlington Securities Nigeria Limited would monitor the works of JBIS, Offshore Bulk Inspection Co.Ltd, Neroli Holborn Oil Gas, Dakee Engineering & Construction Ltd (Gas), and DV Howells Nigeria Limited.

Similarly, DV Howells Nigeria Limited was put in charge of Feltov Energy, Swede Control, Patibon Services, and Candid Oil Services Ltd.

The CBN also stated that the directive had been communicated to authorised dealers listed as the Nigerian Customs Services, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian National Petroleum Company Limited (NNPCL), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), all terminal operators, and all oil and gas companies.