The Global Information Team (GIT) has urged the newly appointed management of the Nigerian National Petroleum Company Limited (NNPCL), led by Ojulari, to honour a prior commitment to absorb 12 staff members from the now-defunct Hyson Nigeria Limited, warning that failure to do so violates international labour standards.

The appeal, spearheaded by GIT’s head of investigation, Anabel Crown, follows the dissolution of all trading joint ventures by the NNPCL board in late 2023, which saw Hyson Nigeria Limited officially wound up on 31 December of that year.

The move was part of a broader consolidation effort to bring all trading operations under a wholly owned NNPCL entity.

At the time, assurances were made that the 12 Hyson employees would face no job losses and would be seamlessly transferred to NNPC Retail Limited—a promise that has yet to materialise.

Under the tenure of former Group Chief Executive Officer (GCEO) Mele Kyari, who was recently removed by President Asiwaju Ahmed Bola Tinubu, the transition stalled, leaving the workers in limbo.

The GIT now calls on Ojulari’s administration to revisit the matter urgently, either by absorbing the staff into NNPCL or offering them substantial severance packages akin to those provided by the Central Bank of Nigeria to its relieved employees.

“This prolonged uncertainty is not just a breach of trust—it’s a violation of international labour law,” Crown told Elanza News.

“Keeping workers promised employment in suspense amounts to deceit and deception, with devastating consequences for their livelihoods and families.”

The situation has been compounded by alleged mismanagement during the transition.

Sources within GIT allege that the former managing director of Hyson Nigeria Limited deliberately withheld a crucial letter that would have facilitated the staff’s absorption into NNPC Retail Limited.

“This was an act of selfishness, with no regard for the wellbeing of these workers or their families,” Crown said, pointing to the rigorous interviews the staff underwent, with results submitted to the NNPC Retail board—then chaired by Kyari—for approval that never came.

The affected workers, described as “fathers and children” by GIT, have faced severe hardship, deprivation, and even starvation as the matter remains unresolved.

“These are people who went through a thorough recruitment process and were deemed successful, yet they’ve been left to suffer,” Crown added.

In a direct appeal, GIT has called on President Tinubu, who serves as the substantive Petroleum Minister overseeing NNPCL, to intervene. “As the father of the nation and a true democrat, we urge Mr President to wade into this matter.

These workers deserve sympathy and swift action—absorbing them without delay is not just a matter of humanity, but a defence of their rights and privileges,” the GIT statement read.

The controversy comes amid broader scrutiny of NNPCL’s operations following Kyari’s exit and Ojulari’s appointment, with stakeholders watching closely to see if the new leadership will prioritise transparency and accountability.

For now, the fate of the 12 Hyson workers hangs in the balance, their plight a stark reminder of the human cost of bureaucratic delays.

The Association of Bureau De Change Operators of Nigeria (ABCON) has lauded the Central Bank of Nigeria (CBN) for selling $197.71 million to banks.

On April 5, the CBN announced the aforementioned sale as part of its commitment to ensuring adequate liquidity and supporting orderly foreign exchange market functioning.

The move followed the recent negative adjustments in global stock markets, triggered by President Donald Trump’s announcement of sweeping global tariffs on all imports into the country, with Nigeria getting 14 percent.

In an interview with NAN on Monday, Aminu Gwadabe, president of ABCON, said the tariff hike would make Nigerian products more expensive and less attractive to America.

Gwadabe warned that the tariff hike would lead to reduced exports and substantial revenue losses for the nation’s economy while also causing further depreciation of the naira in the official market.

“As we speak now, the naira is weaker in the official market than in the parallel markets,” he stated.

“It is, therefore, important for the CBN to be proactive and ensure the sustainability of stability in the market.”

Gwadabe asked the CBN to inject liquidity into the interbank market and the critical retail end to meet the demand for invisible transactions and small and medium-sized enterprises.

The ABCON boss emphasised that concerted efforts are needed to diversify the nation’s foreign exchange (FX) sources, as the challenge is fundamentally about liquidity.

“To this end, Nigeria, being a mono-cultural economy that relies heavily on petro-dollar receipts, should embrace more partners like India, African markets, and China in the export of its single and most important commodity,” the president said.

“The CBN should enforce banks to implement the sale of their interbank proceeds to the BDCs to curtail any volatility.

“There is a need to support local production of export commodities to mitigate our reliance on oil.”

Gwadabe described the Trump administration’s trade tariff as “global tension raging like wildfire across jurisdictions”.

He commended the CBN’s consistent intervention in the FX market, addressing inflation, uncertainty, and FX volatility during a challenging period of policy reforms.