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IPMAN Threatens Showdown 5 Days To Ramadan

JUST IN: Fuel Scarcity Looms As IPMAN Threatens Showdown 5 Days To Ramadan

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JUST IN: Fuel Scarcity Looms As IPMAN Threatens Showdown 5 Days To Ramadan—-Thecloudngr reports that The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to shut down operations if the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) failed to pay an outstanding N100 billion bridging claims.

The Gombe Depot Chairman of IPMAN, Alhaji Abdul Ibrahim, made the position known at a press conference in Abuja, yesterday.

“One year after our last demand  requesting the payment of more than N100 billion owed to our members in bridging claims, the management of the NMDPRA has ignored our demand,” he said.

Ibrahim said that members of the Nigerian Association of Road Transport Owners (NARTO) mentioned the same IPMAN bridging claims as part of their demands before the strike action would be called off.

He said that NMDPRA promised to offset the bridging claims within 40.

“Forty days have today become months with no hope of our payment. The nine northern depots comprising Jos, Gusau,, Suleja, Kaduna, Kano, Gombe, Yola and Maiduguri depots have become completely grounded over this lingering debt.

“This debts being owed to us are monies belonging to marketers and which were deducted from us at the point of payments for products, in order to settle our bridging allowances.

“We have also continued to record deaths of our members, closure of their businesses, retrenchment of staff and the take-over of their business premises by the commercial banks.

“These are all arising from this refusal of the NMDPRA to pay us our monies,” he said.

Ibrahim said IPMAN was giving the NMDPRA seven days to make the payment.

“As law-abiding Nigerians, we sincerely believe that we have given the NMDPRA enough time to pay us our monies in bulk and clear the bridging claims.

“But in view of their constant refusal, we have therefore decided to liaise with our sister organisations, the Petroleum Tankers Driver (PTD) and NARTO in order to take collective action in due course.

“As members of IPMAN, it is important to state that we also own sizable numbers of the PTD, and we may be forced to withdraw our tankers from loading petroleum products,” he said.

He said another worrisome development was the alleged NMDPRA’s imposition of several abnormal levies on its members.

“NMDPRA has made things very difficult for us, as they have also subjected our members to paying bizarre levies whenever we deem it fit to renovate our petrol outlets.

“There are many distressing levies they have forced on us that are not only anti-developmental but also unconstitutional and we are demanding their immediate suspension,’’ he said.

The IPMAN chairman called on President Bola Tinubu to intervene in the prolonged disputes between IPMAN and NMDPRA.

In another development, IPMAN in the South West Zone has threatened to shut down operations in the zone, if the 30 arrested fuel-laden tankers in Lagos are not released.

Chairman of IPMAN’s Western Zone, Chief Joseph Akanni, during an encounter with journalists in Ibadan on Monday, said the tankers, carrying a combined total of 1,350,000 (1.35million) litres of Premium Motor Spirit (PMS), were arrested early Saturday morning by the Lagos State Traffic Management Authority (LASMA) and taken to the agency’s yard in Oshodi.

According to him, each of the tankers carried 45,000 litres of PMS and the product is highly flammable which could cause a monumental fire disaster, if care is not taken.

Akanni voiced the association’s grave concerns that an “injury to one is an injury to all.” He expressed solidarity with the Petroleum Tanker Drivers (PTD) and the National Association of Road Transport Owners (NARTO) as well as the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).

He explained that the tankers left Dangote Refinery at approximately 3am on the day they were arrested. He   also raised concerns on the alleged hazards posed by the LASMA’s actions.

“What the Ministry of Transport has done is against the law. It is dangerous to keep tankers with petrol in one location because petrol is flammable.

“The information reaching us is that they have started siphoning petrol from the tankers, which implies that we won’t have the same quantity as when it was towed.”

Akanni drew attention to the legal obligations surrounding fuel transport, asserting that all seized tankers should have been required to offload their cargo before any arrest.

“We will not stand idly by,” he stated, adding, “If nothing is done, we are ready to shut down our petrol stations across the South West in solidarity with the tanker drivers.”

He warned that if there is any fire incident resulting from this situation, the Lagos State Government would be held responsible for both financial and potential loss of lives.

“We are giving a stern warning,” Akanni concluded.

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

 

Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax of N1.9 billion in just 10 months of operations, a result that stands as a major milestone in Nigeria’s banking industry and reinforces the Bank’s emergence as one of the country’s most remarkable new-generation financial institutions.

With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.

The Bank’s strong debut performance was supported by robust growth across key financial and operating indicators. Highlights of the 10-month financial statement include customer deposit of over ₦103BN, gross earning of ₦13.1 billion, net interest margin of 67%, non-performing loan ratio of 0%.

The performance was driven largely by strong synergy in customer acquisition and branch expansion, a deliberate focus on growth in demand deposits, creation of quality risk assets and balance sheet efficiency. These achievements were further supported by robust operational processes powered by sound technology and systems, management depth and expertise, experience and strategic oversight provided by the Bank’s Board.

Speaking on the performance, the Managing Director, Ade Buraimo, described the result as a significant validation of the Bank’s vision, business model and execution capacity.

“This is more than a financial milestone; it is a strong statement of what is possible when vision, discipline, sound execution, and market opportunity come together. From inception, Alpha Morgan Bank was built to be a commercial bank that is solution-driven and committed to delivering value at scale. To record a PBT of N1.9 billion in our first 10 months of operations is both historic and deeply encouraging. It reflects the dedication of our people, the trust of our customers and the solid foundation we have laid for long-term growth.”

 

 

 

About Alpha Morgan Bank

Alpha Morgan Bank is a customer-centric, innovative, and solutions-driven commercial bank, with a clear commitment to delivering “Satisfying Banking.”

Alpha Morgan Bank commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country. This early footprint, combined with disciplined market execution, has enabled the Bank to build momentum across key business segments in record time.

Alpha Morgan Bank focuses on:

  • Human-Centred Technology: Digital tools designed for intuitive, everyday relevance and not vanity metrics.
  • Transparent Operations: From pricing to service promises, every process is clear, accountable, and customer friendly.
  • Customer-Centric Innovation: Continuously developing solutions and services driven by customer insights to deliver meaningful value and enhance satisfaction.

More than a financial institution, Alpha Morgan Bank positions itself as a partner in progress. Its vision is to drive possibilities, enable dreams, and reemphasize what it means to experience Satisfying Banking in Nigeria.

More about Alpha Morgan Bank on www.alphamorganbank.com

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BREAKING: PSG Retain Champions League Title After Penalty Shootout Victory Over Arsenal

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BREAKING: PSG Retain Champions League Title After Penalty Shootout Victory Over Arsenal—-French champions edge Gunners 4-3 on penalties in Budapest to secure back-to-back European crowns.

Paris Saint-Germain successfully defended their UEFA Champions League title after defeating Arsenal 4-3 on penalties following a 1-1 draw in the final at Budapest’s Puskás Aréna. PSG became only the second club in the modern Champions League era to retain the trophy in successive seasons.

Arsenal made the perfect start to the final when Kai Havertz fired the Premier League champions into an early lead in the sixth minute, giving Mikel Arteta’s side hope of winning the club’s first-ever Champions League title.

The holders responded in the second half, with Ballon d’Or winner Ousmane Dembélé converting a penalty in the 65th minute after a foul on Khvicha Kvaratskhelia, bringing PSG level and setting up a tense finish.

Neither side could find a winner during the remainder of normal time or extra time, forcing the final into a dramatic penalty shootout. PSG held their nerve from the spot, while Arsenal defender Gabriel missed the decisive penalty, blasting his effort over the crossbar.

The victory caps another remarkable European campaign for Luis Enrique’s side, who reached the final after eliminating FC Bayern Munich in the semi-finals and entered the showpiece as defending champions.

For Arsenal, the defeat is a heartbreaking end to an otherwise historic season. Arteta’s men arrived in Budapest having won their first Premier League title in 22 years and reached their first Champions League final since 2006, but they fell just short of completing a memorable double.

PSG’s triumph further cements their place among Europe’s elite, while Arsenal will be left to reflect on a campaign that brought domestic glory but ended in European heartbreak.

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