₦airaland Forum

The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, has declared that political appointments following the 2027 general elections will be strictly reserved for party loyalists rather than technocrats or professionals.

Speaking Tuesday night in Abuja at an event tagged “Renewed Hope Promise Kept 2027: Meet and Greet North-West Mobilisation,” organised by the Minister of State for Works, Bello Goronyo, Nentawe emphasised that governance is inherently political and appointees must actively support the party that brought them to power.

A video of his statement went viral on Wednesday, rapidly circulating across social media platforms and generating intense debate among political commentators, party members, and civil society stakeholders nationwide. Reactions have ranged from support among party loyalists to criticism from analysts who fear it could undermine merit-based governance.

According to Nentawe, all government appointees must be visible in grassroots politics and actively participate in party activities, stressing there was “nothing like technocrats” when it comes to political appointments.

“We should always look back and remind ourselves of what brought us here. It is votes. There is no vote called technocrats. Once you are given a political appointment, you are a politician. Simple,” he said.

He insisted that he would defend the position that only individuals willing to actively work for the APC should be considered for appointments.

“As party chairman, I will stand strong to defend the position that if you are not prepared to join us, you shouldn’t be given an appointment. If you are a technocrat, go and be a consultant,” he added, urging appointees to combine governance with politics.

“Government policies are campaign promises that must be defended, explained, and promoted by those implementing them. Appointees cannot divorce themselves from party objectives,” Nentawe said, adding that detachment from political mobilisation could weaken the party’s grip on power.

He described the North-West as the “bedrock” of the APC’s success in the 2023 elections and said the region would remain decisive in 2027, accounting for roughly 20 per cent of the party’s membership nationwide, with youths forming the majority.

“Out of the registered members in the North-West, 48 per cent are between the ages of 18 and 35. This means young people own this party,” he said, noting that members aged 50 and above account for just 17 per cent of the APC’s base in the region.

Nentawe also highlighted that appointees must actively engage with the grassroots, asserting that political visibility is a requirement, not an option. He warned that the APC cannot rely solely on technocrats who do not participate in party mobilisation.

“Once you are given a political appointment, you are a politician. If all appointees decide to become technocrats, the party will never return to power,” he said.

He commended Goronyo for organising the event and pledged to ensure the president is aware of initiatives that reflect party unity and mobilisation, noting that such efforts should serve as a reference for all ministers and appointees.

The chairman stressed the strategic importance of the North-West, describing the region as the party’s “vote bedrock.” He said youth engagement in the region remains central to the APC’s 2027 strategy, citing that nearly half of registered members are between 18 and 35 years old.

Special Adviser on Policy Coordination and Head of the Central Results Delivery Coordination Unit (CRDCU), Hadiza Bala-Usman, added that the North-West delivered the highest number of votes for the APC in 2023 and must remain united to do even better in 2027.

“We are a vote basket and we must retain that. Nobody should work hard to win elections while others stroll in to collect appointments and hide behind being technocrats,” she said.

She warned that political appointees who fail to campaign or mobilise for the party would not be tolerated, stressing that appointments come with political obligations.

“Once you are a political appointee, you must come out, show your face, show your hand, and support the party,” Bala-Usman said.


Implications for key appointees

Analysts say if implemented, Nentawe’s policy could affect senior government officials widely regarded as technocrats with limited partisan affiliation. These include Bosun Tijjani, Minister of Communications; Wada Maida, Executive Vice Chairman of the Nigerian Communications Commission (NCC); and other notable figures whose appointments were based on professional expertise rather than deep APC membership.

Observers also draw parallels with politicians such as Nyesom Wike, the FCT Minister, who is not an APC member, highlighting potential tensions if the party insists on exclusivity for loyalists.

The move has raised concerns that capable professionals may be sidelined in favour of partisan appointees, potentially disrupting continuity in critical ministries and agencies. Some insiders note that these appointees, while not formally party members, have played key roles in implementing government programmes and advancing national development objectives.


Historical context: Technocrats in Nigerian governance

The policy of appointing non-partisan individuals into government offices has been part of Nigeria’s democratic tradition since 1999. Former Presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari, as well as current President Bola Tinubu, have all relied on technocrats for critical roles.

Notable examples include Ngozi Okonjo-Iweala, former Minister of Finance and current Director-General of the World Trade Organization; Akinwunmi Adesina, former AfDB President and Minister of Agriculture; Obi Ezekwesili, former World Bank executive and minister, and even former Kaduna State Governor, Nasir el-Rufai as Director-General of the Bureau of Public Enterprises (BPE) and later Minister of FCT before he metamorphosed into a partisan politician. These appointments were often intended to ensure expertise-driven policy formulation, and to create balance between political objectives and professional competence.

Analysts warn that removing this tradition risks sidelining institutional knowledge, weakening governance structures, and prioritising political loyalty over national interest.


PDP: We will work with everyone

The Peoples Democratic Party (PDP), however, said it would adopt a different approach if voted into power in 2027, insisting it would work with both technocrats and politicians.

The party’s National Publicity Secretary, Comrade Ini Ememobong, told Daily Trust that competence, not partisan loyalty alone, would determine appointments under a PDP government.

“When our party wins, we will run a system with a fair mix of politicians and technocrats. The key determinant will be what the appointee has to offer, whether he or she is a politician or a technocrat,” he said.

Ememobong cautioned against interpreting the APC chairman’s remarks in isolation but argued that excluding technocrats entirely would amount to hyper-politicisation of governance.

“Governance is too important to be left to politicians alone. Everyone has a role to play,” he added.


Analysts warn of governance risks

Political analysts have raised serious concerns about the APC chairman’s statements. They argue that prioritising loyalty over competence could undermine governance, weaken public institutions, and reinforce patronage politics.

Abubakar Ibrahim, a political scientist at the Federal University of Lafia, said loyalty-based appointments risk sidelining merit and reducing public confidence in government.

"While loyalty-based appointments may help consolidate party unity and discourage defections, they risk deepening factionalism as excluded groups feel marginalised,” he said.

Ibrahim warned that ministries and agencies could be led by individuals lacking technical capacity, resulting in reactive, politically driven governance rather than evidence-based policymaking. He added that this could erode institutional integrity and frustrate long-term development efforts.

Usman Aliyu Hayatu, a political analyst based in Zaria, described the policy as “dangerously alarming,” highlighting the potential for political loyalty to supersede national interest.

“Exclusively party-loyal appointees are more likely to serve political masters at the expense of accountability, due process, and system integrity,” Hayatu said, warning that sidelining technocrats could alienate patriotic citizens and young professionals who value competence.

Dr Aminu Hayatu, senior lecturer at Bayero University, Kano, said the statement reflects internal power dynamics and a calculated strategy ahead of 2027.

“By dismissing technocrats, the chairman is asserting that all appointees must first be party soldiers, aligning every action with APC interests,” he said.

He warned that turning government offices into permanent campaign structures could blur the line between governance and partisan politics, weakening service delivery, institutional capacity, and public trust.

“When loyalty becomes the main criterion, competence declines, patronage thrives, and citizens become cynical about government. Public institutions risk becoming extensions of the ruling party rather than neutral mechanisms for national development,” he added.

By Peter Moses


The Ogun State Governor, Dapo Abiodun, has labelled critics of his performance, especially on road infrastructure, as “barking dogs.”

In recent months, Abiodun has come under severe attacks on social media over the deplorable conditions of some roads in different parts of the state.

Under his watch, many social media commentators have tagged Ogun as the “headquarters of bad roads” in Nigeria.

Some of the communities bordering Lagos State are the worst hit by the deplorable roads.

On Tuesday, the Department of State Services, DSS, freed a pastor, Kayode Olawoye, alongside two of his associates who were detained following public outcry.

Olawoye became an internet sensation following his exposé on the poor state of some roads in Ogun State, which he had repeatedly drawn to the attention of the state government.

Amnesty International Nigeria, in a statement on Tuesday, condemned Olawoye’s detention, describing it as unlawful and an abuse of human rights.

The statement read, “The Nigerian authorities must end the incessant intimidation and harassment of Pastor Kayode Olawoye — a cleric widely known for advocating for better road infrastructure in Ogun State.

“Subjecting such a peaceful advocate for good governance to bizarre intimidation by the Department of State Services is unlawful. The advocacy of Pastor Kayode is justified given the shocking and deplorable state of roads in Ogun — his state. Criticizing Gov. Dapo Abiodun is not a crime.

“The authorities have an obligation to uphold and protect fundamental human rights. Instead of investing in desperate attempts to punish activists, the government should be listening to them and doing more to address people’s concerns.”


Abiodun Labels Critics ‘Barking Dogs’

Speaking on Tuesday at the commissioning of a 3.5-kilometre Laderin–Prof. Wole Soyinka Train Station Road in Abeokuta, Abiodun described his critics as “barking dogs,” whom he said deserve no response.

“We are a very deliberate administration. We will not pay attention to any barking dog. Like they say, nobody throws stones at unripe fruits.

“So, anybody that decides to attack us on social media, we appreciate the fact that it is because of how intimidating this administration is.

“So, we have no response for them. I will respond to them by commissioning roads every week for the next two months,” he said.

The governor said contrary to criticism, his government constructed about 1,600 kilometres of roads in the last six years.

He said, “In the last six years, my administration has constructed, at the minimum, 1,600 kilometres of roads, and that is not a joke. Then, I make bold to say that, at the risk of sounding immodest, that’s more roads than the two administrations before me constructed. They can come and contradict me because facts and figures don’t lie.

“As we speak, we have at least 20 roads ready for commissioning across the three senatorial districts.”

Speaking on the newly commissioned 3.5-kilometre road, the governor said the length of the road does not matter, but its “complementary and impactful service” does.

According to him, the policy would reposition polytechnics as centres of excellence, stressing that they should no longer be regarded as inferior to universities but as equal partners in national development.

President Bola Tinubu’s administration has initiated a major policy shift aimed at scrapping the Higher National Diploma (HND) and ending decades of discrimination against polytechnic graduates by empowering polytechnics to award degrees.

The Minister of Education, Dr. Tunji Alausa, disclosed this on Wednesday in Abuja during a high-level retreat for council chairmen, rectors and other education stakeholders, according to Vanguard.

Alausa said the decision was targeted at abolishing the long-standing dichotomy between HND holders and university degree graduates, a practice that has continued to limit the career progression and professional recognition of technical graduates in Nigeria.

According to him, the policy would reposition polytechnics as centres of excellence, stressing that they should no longer be regarded as inferior to universities but as equal partners in national development.

He noted that Nigeria’s future depends on a workforce capable of creating, building and solving real-world problems.

The minister added that this is a core strength of the polytechnic system which will now be strengthened with degree-awarding status.

He also assured that strict regulatory frameworks and quality assurance mechanisms would be enforced to ensure that degrees awarded by polytechnics meet global standards.

Beyond academic reforms, the minister also warned polytechnic administrators against corruption, insisting that transparency, accountability and zero tolerance for financial misconduct must guide the management of the institutions.

He further announced a special intervention from the Tertiary Education Trust Fund (TETFund) to upgrade engineering schools in polytechnics with modern, state-of-the-art equipment.

While acknowledging challenges such as outdated infrastructure and persistent societal bias against technical education, Alausa urged polytechnic leaders to act as agents of change by embracing innovation in areas such as renewable energy, digital manufacturing and applied technology.

“The future of our youth, our economy and our nation depends on the transformation we ignite here today,” he said.

The move comes amid long-standing agitation by stakeholders and the National Board for Technical Education (NBTE) for the passage of the Higher National Diploma Discrimination (Prohibition) Bill.

By Hamisu Kabir Mataz

A suicide bomber rammed into a military convoy in Timbuktu triangle in Borno State, killing five soldiers and injuring an unspecified number of troops.

Security sources confirmed to Daily Trust that two senior military officers – a major and a lieutenant – were affected in the attack.

“The attack caused significant damage to military equipment used for offensive and defensive operations in the weeks-long clearance operations,” said one of the soldiers.

He said the terrorists used a car loaded with explosives to ram into the military convoy.

The troops were returning from a clearance operation that successfully dislodged several insurgents camps and killed many of them when the attack reportedly occurred.

“Yes! You know, every operation came with setbacks, but we overcame it. Unfortunately we lost five soldiers in the incident. Manga (the Commander) is hale and hearty and the operation continues, thank you,” an officer who did not want to be named said.

He said that armoured and logistics vehicles were destroyed when the van laden with explosives rammed into the convoy, on Tuesday.

Our correspondent also gathered that the corpses have been flown to Maiduguri, while officers who sustained injuries in the attack, have also been taken for medical attention.

Timbuktu triangle is the area where the terrorists ambushed the convoy of Brigadier General Musa Uba, captured and executed him.

Recall that on Monday, the Troops of the Joint Task Force North East, Operation HADIN KAI (OPHK) said they had cleared multiple terrorist camps and thwarted drone attacks in the area.

In a statement by spokesman of the operation, Lt- Col Sani Uba, in the ongoing Operation DESERT SANITY, arms and equipment were also recovered from the terrorists.

“On Sunday, 18 January 2026, troops advanced from their harbour area and conducted deliberate, intelligence-led operations across several identified terrorist enclaves, including Chilaria, Garin Faruk and Abirma.

“The operation was supported by the Air Component of OPHK, which provided persistent Intelligence, Surveillance and Reconnaissance (ISR) coverage over the axis. The air-to-ground synergy enabled real-time tracking of terrorist movement, deterred adversary reinforcement, and enhanced the precision and confidence of ground operations.

“During the operation, troops recovered several items of military significance, including Baofeng radios, phones, 5 x AK-47 magazines, several rounds of 7.62 × 39mm special ammunition and 7.62mm NATO belted ammunition, several Boko Haram/ISWAP flags, links of 12.7 × 108 mm ammunition, diesel powered grinding machines, large quantity of medical supplies, several bags of grains, pick up truck, underground logistics storage and Petroleum and Oil Lubricant (POL) dump which all further degraded the operational and logistical capability of the terrorists.

“At about midday, the advancing troops came under armed drone attacks by the terrorists. Despite this, the troops maintained momentum and continued the offensives. A second attempt in the evening was also decisively repelled, forcing the terrorists to withdraw, reaffirming troops’ dominance of the area.

“Despite sustained engagements, troop morale remains high, and fighting efficiency continues to be maintained. The general security situation in the area is assessed as calm but unpredictable, with troops remaining vigilant and at a high state of readiness.

“The Military High Command affirmed that the operations will continue as troops remain resolute in their mission to eliminate terrorist threats, protect civilians, and restore lasting peace and stability to the North East,” Uba said

A First Bank PLC customer, Ojo Eghosa Kingsley, has opted to go to prison than to refund the sum of N1.5b mistakenly credited into his account.

P.M.EXPRESS reports that the suspect, Kingsley, was arrested by the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, over his conduct.

Thus, the EFCC charged him before the High Court on Monday 19th January, 2026 and secured his conviction before Justice W. I. Aziegbemhin of Edo State High Court, sitting in Benin City.

The convict, Kingsley, was prosecuted on one-count charge bordering on stealing while being a customer of First Bank and fraudulently took possession of over N1.5 billion erroneously credited to his account by the bank.

The charge against him read: ‘That you OJO EGHOSA KINGSLEY (M) sometime between June, 2025 to November, 2025 within the jurisdiction of this Honourable Court, did steal the aggregate sum of N1,507,502,182.24 (One Billion, Five Hundred and Seven Million, Five Hundred and Two Thousand, One Hundred and Eighty Two Naira, Twenty Four Kobo), property of First Bank Plc by fraudulently converting the said sum to your own use, and thereby committed an offence contrary to Section 387(1) of Criminal Law of Edo State 2022 and punishable under Section 394 of the same Law”.

He pleaded guilty to the charge when it was read to him, prompting the prosecution counsel, M. S. Dahiru, to pray the Court to convict and sentence him accordingly.

However, counsel to the defendant pleaded with the Court to temper justice with mercy, stating that the defendant had become remorseful for his action.

The presiding judge, Justice Aziegbemhin, convicted and sentenced Ojo Eghosa Kingsley to one year imprisonment or a fine of N5 million.

The Court also ordered the convict to restitute First Bank Plc with the sum N272, 252,193,59 (Two Hundred and Seventy Two Million, Two Hundred and Fifty Two Thousand, One Hundred and Ninety Three Naira, Fifty Nine Kobo) within a stipulated period of time being the balance of the N1.5 billion.

The EFCC had during investigation recovered the sum of N802,420,000 from various bank accounts traced to the defendant, his mother and sister, which was handed over to the bank by the Ag. Zonal Director of the Benin Zonal Directorate,

Deputy Commander of the EFCC, DCE Sa’ad Hanafi Sa’ad, on Monday 12th January, 2026, while over three hundred million was recovered from the defendant’s account by the bank through transfer reversal.

Aside the restitution, conviction and sentence, the convict, Kingsley made an undertaking in writing to be of good behaviour in future if he fulfills the conditions and is released from prison custody

A police inspector attached to a multinational logistics firm in Onne, Rivers State, has been detained after allegedly mishandling his firearm and shooting two fellow officers on Sunday, January 18, 2026.

The incident occurred at about 1:00 p.m. while the officers were travelling from Life Camp to their quarters. The shooter, identified as Inspector Victor Okus, is attached to Hintex Logistics under the supervision of the 19 Police Mobile Force (PMF).

According to information relayed by Inspector Mathew Bawa through the Port Harcourt Mine Unit Commander, DSP Chika Njoku, Okus was reportedly negligent in handling his weapon while inside the same vehicle with two officers from 14 PMF Yola.

The accidental discharge struck both officers, who were immediately rushed to Nobsams Hospital in Trans-Amadi for medical attention.

“Today being Sunday, 18/01/2026, at about 13:00hrs, information received from Insp. Mathew Bawa, 19 PMF personnel attached to Hintex Logistics, Onne, a multinational company, through U/C Port Harcourt Mine, DSP Chika Njoku, revealed that AP/No. 310535 Insp. Victor Okus, personnel mine attached to the said company, an approved beat mine under 19 PMF supervision, while on transit from Life Camp to their quarters, negligently mishandled his firearm,” the report said.

“As a result, two personnel of No. 14 PMF Yola who were in the same vehicle with him were hit by the bullet. They were rushed to Nobsams Hospital, Trans-Amadi for treatment.”

Medical personnel later confirmed the death of Inspector Ibrahim Sani, while Inspector Daniel Dauda is currently receiving treatment.

Following the incident, Inspector Okus was disarmed, declared a defaulter, and detained at the Trans-Amadi Divisional Headquarters pending further investigation.

Police authorities said further updates will be communicated as investigations continue.

Nine state governments have domesticated the new tax laws aimed at ending the era of multiple taxation and uncoordinated levies.

They are Bayelsa, Anambra, Ekiti, Gombe, Kogi, Nasarawa, Plateau, Kwara and Zamfara.

The remaining 27 are likely to follow suit soon, The Nation gathered.

Sources said the domestication of the new tax laws by the state governments will complement the efforts of the Presidential Fiscal Policy and Tax Reforms Committee and the Joint Revenue Board (JRB) in creating a more efficient revenue system for the country.

The committee had developed a model Tax Harmonisation Law for adoption by states and local governments to address the challenges posed by uncoordinated collections, including those by non-state actors

Chairman of the Presidential Committee, Mr. Taiwo Oyedele, said it was imperative for the states to enact their own tax harmonisation law to address multiple taxations at state and local government levels.

The Joint Revenue Board described the steps taken by the nine states as a key component of reforms designed to eliminate illegal tax collection and provide a clearer fiscal environment for businesses and citizens alike.

Kogi State Governor Ahmed Ododo signed the state’s domesticated tax bills into law on January 1.

They are the Kogi State Internal Revenue Service (Establishment) Law, 2025 and Kogi State Taxes and Levies (Approved List for Collection) Law, 2025

According to him, the move is expected to boost the state’s revenue, enhance transparency and promote economic growth.

He said the laws exempt low-income earners – individuals earning below N800,000 annually – from tax payment and will also encourage increased investment, simplify tax processes and reduce compliance costs to attract businesses.

Other benefits are “technology-driven efficiency: Digitalised tax administration will reduce human interference and promote accountability.”

“The New Tax Laws aim to support structural reset, drive harmonisation and protect dignity rather than raise tax obligations,” Governor Ododo explained.

The Bayelsa State Joint Revenue Board said on its X handle that the domestication of the tax laws represents “a significant milestone in the modernisation of revenue administration in the state”.

It said the landmark law, which is the first to be signed by a state in the South-South Geopolitical Zone, has the objectives of eliminating multiple taxation by streamlining the pre-existing collectibles of nearly sixty to just nine collectible heads

It said the law also outlaws roadblocks for the collection of taxes, levies and charges, de-emphasises cash collection and utilises technology to ensure transparency in tax administration, while plugging revenue leakages.

The harmonised framework is also expected to improve taxpayer compliance, boost investor confidence, and support the state’s economic development.

It acknowledged the collaborative efforts of the state government, the legislature, and the state Internal Revenue Service in driving the reform forward, which aligns with the national tax reform initiative of the Tinubu administration, underscoring the state’s commitment to transparency and good governance.

Chairman of the Anambra Internally Generated Revenue Services (AIRS), Dr Greg Ezeilo, told The Nation that the domestication of the tax laws in the state has ended the era of paying cash into government treasury

Ezeilo said the AIRS under his leadership will be intentional, firm and transparent in its enforcement approach, emphasising that there will be “no mercy for tax evaders” in the state.

Ezeilo also said the agency would, in the coming weeks, organise town hall meetings to deepen engagement with tax stakeholders across the state.

The Executive Chairman of the Delta State Internal Revenue Service (DSIRS), Mr. Solomon Igharakpata, said the state government was in the process of domesticating the new tax laws.

According to Igharakpata, the new tax legislation will be transmitted to the State House of Assembly before the end of this month.

“We are already in the process. I am confident that before the end of this month, it will reach the House of Assembly,” he declared.

The other states are working on passing and gazetting their own versions of the law. Officials believe this momentum signals a shift toward a more transparent and investor-friendly framework across Nigeria.

At a recent tax reform summit held in Lagos, Mr. Oyedele said sub-national tax transformation is central to Nigeria’s economic survival.

He said the goal of the new tax law was not to introduce new or higher tax rates but to focus on “harmonisation, efficiency and taxpayer value leveraging data and collaborating within the state and nationally.”

He said harmonisation does not mean centralisation.

“It means clarity and efficiency. The people pay less and the government collects more,” he said.

Tax committee, Ombud to protect taxpayers’ rights

The PFPTRC and the Office of the Tax Ombud have resolved to work together to enhance taxpayers’ trust and compliance through transparent mediation and accountability, following a meeting in Abuja between the Tax Ombud/CEO, Dr. John Nwabueze, and PFPTRC chairman Taiwo Oyedele.

The Chief Press Secretary to the Tax Ombud/CEO, Chukwudi Achife, said in a statement that the Office of the Tax Ombud will serve as a mediation safety net for small and medium enterprises as well as multinational companies to resolve issues related to taxes, levies, charges, customs duties and allied matters.

Achife quoted Dr. Nwabueze as saying “Nigerian taxpayers can now save the cost of arbitration while still obtaining justice by resolving their tax complaints through the office.”

Oyedele said of the meeting that it was part of ongoing efforts to support the effective implementation of tax reforms.

“The Office of the Tax Ombud is an independent and impartial body established under the new tax laws to protect taxpayer rights, resolve complaints quickly and fairly, and build trust in the tax system through mediation and advocacy,” he said.

He added: “Our engagement focused on collaboration with the Tax Ombud, given his critical role in ensuring that the reforms deliver not just better tax systems but a fairer and more responsive tax administration for taxpayers.”
Dr. Nwabueze was appointed last year under the Joint Revenue Board (Establishment) Act 2025 to provide a fair, independent channel for taxpayers to resolve disputes with revenue authorities, offering mediation for issues like unfair treatment, delays and abuse, aiming to boost transparency and trust in Nigeria’s tax system.

The four (4) Tax Reform laws comprehensively overhaul the Nigerian tax landscape to drive economic growth, increase revenue generation, improve the business environment and enhance effective tax administration across the different levels of government.

by Nafisat Abdulrahman


Senior Special Assistant to President Bola Tinubu on Media and Publicity, Temitope Ajayi, has weighed in on the ongoing controversy surrounding the leadership of the Oyo State Council of Obas and Chiefs, saying traditional rulers must adapt to the realities of modern governance and work together for unity and development rather than seeking supremacy.

Ajayi, in a post shared on his verified Facebook page on Saturday night, emphasised that the era of empires and territorial dominance among Yoruba monarchies had long passed even as he cited the non-existent dominance of colonialists over their former colonies.

“We are no longer in the era of Oyo Empire. Rome and the United Kingdom that once ruled more than half of the world as empires can no longer claim sovereignty over their former colonies. Times have changed. We are now in a new world,” he wrote.

He further noted that the historical Oyo Empire belongs to the past and that the totality of Yorubaland was never entirely under the rule of the Alaafin of Oyo.

“Oyo Empire now belongs to history, and the whole of what we now know as Yorubaland was never under the rule of the Alaafin. The society will function well if the current natural rulers in Yorubaland understand their roles in modern society,” Ajayi counselled.

The presidential aide urged Yoruba traditional rulers to focus on collaboration rather than rivalry, stressing that their collective effort was key to preserving peace and promoting development.

“Our kings should now work collaboratively to preserve peace, unity, and development in their communities whilst preserving our cultural values,” he advised.

LEADERSHIP reports that Governor Seyi Makinde had on Thursday inaugurated the new Oyo State Council of Obas and Chiefs, appointing the Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja, as the pioneer chairman for a two-year term under a rotational system among Alaafin, Olubadan and Soun of Ogbomosoland.

The governor stated that he reached the decision after consulting the Alaafin of Oyo, Olubadan of Ibadanland, and Soun of Ogbomoso, adding that all three monarchs endorsed the arrangement to rotate the council’s leadership among them.

However, the Alaafin of Oyo, who was absent during the inauguration, later issued a statement denying that he was consulted or that he consented to the rotation of the council’s chairmanship, sparking tension on the implication of the confrontational approach of Alaafin to the Oyo State Government.

By Adegbite Taoheed


United States President Donald Trump has said there could be more military strikes by the US in Nigeria if Christians continue to be killed in the country, even as Nigeria’s federal government has denied that Christians are facing systematic persecution.

Trump made the remarks in an interview with The New York Times, published on the newspaper’s website on Thursday.

He was responding to questions about Washington’s Christmas Day military strike in Nigeria.

Tribune Online reports that the US Africa Command (AFRICOM) said the operation targeted Islamic State militants in northwest Nigeria and was carried out in collaboration with the Nigerian government.

At the time, Nigeria described the strike as a “joint operation” against “terrorists” and said it had “nothing to do with a particular religion.”

According to Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, the recent United States airstrikes on terrorist targets in north-western Nigeria were carried out with Nigeria’s full cooperation, approval and intelligence support, stressing that the operation neither violated the country’s sovereignty nor targeted any religious group.

Responding to questions in the interview with The New York Times, Trump was quoted as saying, “I’d love to make it a one-time strike … But if they continue to kill Christians, it will be a many-time strike.”

When asked about comments by his own Africa adviser that Islamic State and Boko Haram militants were killing more Muslims than Christians, Trump replied: “I think that Muslims are being killed also in Nigeria. But it’s mostly Christians.”

Meanwhile, a United States lawmaker, Riley Moore, who disclosed that the US military fired 12 Tomahawk missiles against ISIS fighters in Nigeria, said the airstrikes are only the beginning of a broader military effort, adding that more action would follow in collaboration with Nigerian authorities.

In late October, Trump began warning that Christianity faces an “existential threat” in Nigeria and threatened military intervention over what he described as the country’s failure to stop violence against Christian communities.

However, the Nigerian government denied the allegations, clarifying that the insecurity challenges in the country target no specific religion as both Christians and Muslims are affected.

Following strategic engagements between the US and Nigeria, through a Nigerian delegation led National Security Adviser (NSA), Mallam Nuhu Ribadu, Tribune Online reports that the US War Secretary, Pete Hegseth, announced that the U.S. military “is working aggressively with Nigeria to end the persecution of Christians by jihadist terrorists.”

by Jeremy


Fresh facts have emerged as to why Business mogul Aliko Dangote withdrew the petition he sent to the Independent and Corrupt Practices Commission (ICPC) against Engineer Farouk Ahmed, the immediate past ACE/CEO of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA).

Credible industry sources confirmed to LEADERSHIP that Dangote withdrew the petition due to concerns that the presence of Ahmed’s spouse as a key staff member of the ICPC could impact the investigation.

“What we understand,” a source said, “is that after the petition was filed, it came to light that Ahmed’s spouse holds a key position in ICPC. Although no one is sure how that might play out, there are concerns of interference.”

Although neither Dangote nor his lawyer could be reached to provide reasons for the withdrawal, our sources suggested that fear of possible interference may have been the reason for the withdrawal.

The Principal Partner of an Abuja-based law firm, O’J Law Consult, Dr Lilian Ojimma, said a petitioner is free to withdraw his petition from a prosecuting agency and go to another agency, if he so wishes.

“The only thing,” she said, “is that the petitioner cannot file the same petition in two agencies at the same time and pursue them simultaneously.”

However, the ICPC has assured that no one can interfere in the ongoing investigation into Dangote’s petition.

ICPC spokesperson, John Odey, told LEADERSHIP that: “I am not aware of any person working in the ICPC who is married to Farouk. Even if it is true, I can assure you that nobody will interfere in the ongoing investigation. Dangote’s withdrawal of the petition does not mean that the ICPC has stopped the investigation. Investigation continues.”

Our correspondent gathered that the ICPC had contacted the Swiss school that Dangote claimed that Farouk’s children attended and paid $7 million as school fees.

The ICPC spokesperson had, in a statement earlier, noted that the investigation will continue as the ICPC works for the interest of the public.

According to him, “The ICPC is in receipt of a letter dated January 5, 2025, titled ‘Notice of Withdrawal of Petition against Engineer Farouk Ahmed,’ submitted to the Commission by Dr O.J. Onoja, SAN and Associates, legal counsel to Alhaji Aliko Dangote.

“The letter from O.J. Onoja SAN, states that the petitioner has withdrawn the petition dated 16th December, 2025, submitted against Engineer Farouk Ahmed, the immediate past ACE/CEO of the NMDPRA, in its entirety and that another law enforcement agency has taken over.

“The ICPC wishes to state categorically that in line with the provisions of sections 3(14) and 27(3) of its enabling Act, the investigations in the interest of the Nigerian people and the Nigerian state have already commenced and are presently ongoing.

“The ICPC will therefore continue to investigate this matter in line with its statutory mandate and in the interest of transparency, accountability and the fight against corruption for the benefit of Nigeria.”

Meanwhile, Dangote has also petitioned the Economic and Financial Crimes Commission (EFCC) to seek an investigation into Farouk.

LEADERSHIP is in possession of an acknowledgement copy of the letter dated December 17, 2025, addressed to the EFCC chairman. The letter was duly received by the EFCC.

In the letter, Dangote asked the EFCC to investigate Farouk for alleged gross abuse of office, violation of the Code of Conduct for Public Officers, and corrupt and financial impropriety.

When EFCC spokesperson Dele Oyewale was contacted, he requested time to gather more information. He has yet to respond at the time of this press release.

by Onuado Cynthia


Political tension escalated in Rivers State on Thursday as the State House of Assembly formally commenced impeachment proceedings against Governor Siminalayi Fubara, listing multiple allegations of gross misconduct against him and his deputy, Prof. Ngozi Odu.

At plenary, the Majority Leader of the House, Major Jack, acting on the directive of the Speaker, Rt. Hon. Martins Amaewhule, read out a notice of misconduct, which contained 10 allegations against the governor.

According to the notice, the alleged offences of gross misconduct include the appointment of persons into offices and positions in the Rivers State Government without compliance with constitutional requirements for screening and confirmation by the House of Assembly.

Other allegations include the seizure of salaries, allowances and funds due to the “legitimate Rivers State House of Assembly,” allegedly in violation of Section 121(3) of the 1999 Constitution (as amended), as well as the seizure of the salary of the Clerk of the House, Mr. Emeka Amadi.

The lawmakers further accused the governor of refusing to implement constitutional provisions on the financial autonomy of the Rivers State House of Assembly and the judiciary, withholding funds meant for the Rivers State House of Assembly Service Commission, and frustrating the operation of a commission established under Part 2AA of the 1999 Constitution (as amended).

Additional allegations listed include “attack and contempt for the rule of law by the Governor of Rivers State or any person,” and “destroying the Government because of fear of being impeached.”

Addressing lawmakers after the notice was read, Speaker Martins Amaewhule said: “The Majority Leader has just laid before the House the Notice of Allegations of Gross Misconduct brought pursuant to Section 188 of the Constitution for the Federal Republic of Nigeria as amended in 1999. This particular letter was signed by 26 members of the River State House of Assembly, which the Majority Leader has read their names.

“Distinguished colleagues, I am now in receipt of this letter and pursuant to sections of the 1999 Constitution as amended, I will ensure that this letter is forwarded to His Excellency Siminalayi Fubara, GSSRS, Governor of River State within seven days. Distinguished colleagues, I will do that. Rest assured, I will not renege. I will do my job in line with the Constitution.”

LEADERSHIP recalls that the Rivers State House of Assembly had earlier in 2025 raised allegations against Governor Fubara, including extra-budgetary spending, demolition of the State Assembly complex, withholding funds due to the Assembly Service Commission, and alleged non-compliance with a Supreme Court directive on legislative autonomy.

The fresh impeachment move, which also affects the deputy governor, has further heightened political tension in the state, raising concerns over governance and stability in Rivers State.

By Christian Appolos



Former President Olusegun Obasanjo has disclosed that Nigeria’s organised labour movement was, at a critical stage in its history, funded by foreign intelligence agencies, a development he said exposed the country’s labour system to external control and raised grave concerns about national sovereignty.

Obasanjo made the revelation at the 85th birthday celebration and public presentation of the memoir of a former President of the Nigeria Labour Congress (NLC), Hassan Sunmonu, titled “Memoirs of an African Trade Union Icon: Organise, Don’t Agonise”.

The gathering of labour leaders, policymakers and civil society actors evolved into a broader reflection on the past, present and future of trade unionism in Nigeria.

According to the former president, Nigeria’s labour space during the Cold War era was dominated by two powerful labour organisations which, though Nigerian in name, were allegedly financed and influenced by opposing global power blocs.

He said one faction received support from the Soviet Union’s KGB, while the other was funded by the United States’ Central Intelligence Agency, a situation he described as unhealthy and dangerous for an independent nation.

“As far as you remember, when Gooduck was leading one of the two major labour then Adebola, these two labour organizations are Nigerian labour organizations but they were not organized or funded by Nigeria,” Obasanjo said. “I don’t know if you know that, but that was the reality.

“One was being financed by KGB, that is the truth, and the other one was being financed by CIA, that was the truth, and then I came on the scene.”

He explained that this reality shaped his resolve, as military Head of State, to reform the labour movement and insulate it from foreign interference by building a structure that was organised, controlled and financed by Nigerians.

“I needed a Nigerian labour union organised by Nigeria, controlled by Nigeria, financed by Nigeria. So I decided there was going to be a labour union reform,” Obasanjo said, recalling that the reform process was spearheaded by Justice Adebiyi.

He noted that Sunmonu was among those who initially questioned his involvement in labour matters.

Obasanjo said, “Hassan was one of those who was forefront to ask, what do I know about labour that I’m asking for reform? What is my business?”

Obasanjo said the reform process eventually led to the restructuring of trade unions and the enactment of laws that gave birth to the Nigeria Labour Congress as a unified national platform.

He stressed that the emergence of the NLC leadership was achieved without direct government interference, restoring credibility to organised labour and fostering relative industrial stability.

“Of course, I don’t know anything about labour but I know that I wanted a Nigerian labour organization organized by Nigeria, headed by Nigeria, and funded by Nigeria,” he said.

“When Justice Adebiyi finished his job and we reformed the labour and party law establishing NLC, what happened? Without government’s hand, they elected their leader and Hassan became the first leader they elected. I don’t know how I felt at that time, but I felt comfortable.”

Sunmonu, who led the NLC from 1978 to 1984, is widely regarded as one of the architects of modern trade unionism in Nigeria.

Reflecting on his relationship with Sunmonu, Obasanjo said government and labour were bound to interact and even depend on each other, but must do so without compromising their independence.

He recalled advising Sunmonu to openly criticise government policies after private engagements in order to preserve labour’s credibility and the trust of workers.

He added that the introduction of a compulsory check-off system ensured sustainable union funding and permanently eliminated foreign financial influence from Nigeria’s labour movement.

Obasanjo further praised Sunmonu for elevating Nigerian labour on the continental and global stage, describing him as the most influential figure in the country’s labour movement after the late Pa Michael Imoudu.

The occasion also provided a platform for the current President of the Nigeria Labour Congress, Comrade Joe Ajaero, to deliver a blistering critique of contemporary economic policies, new tax laws and Nigeria’s rising public debt. Ajaero warned that the systematic exclusion of labour from critical policy processes was deepening poverty and undermining democratic governance.

He argued that the philosophy captured in Sunmonu’s memoir, Organise, Don’t Agonise, stood in sharp contrast to what Nigerians were currently experiencing, accusing the government of preferring “enrage over engage.”

“Tax laws that tax the national minimum wage, impose heavier burdens on workers and the poor, and worsen excruciating poverty are not progressive but regressive,” Ajaero said.

He insisted that labour was deliberately excluded from the Presidential Committee on Tax because workers were “meant to be on the menu.”

Raising broader concerns about governance and accountability, the NLC president echoed Sunmonu’s recent public interrogation of Nigeria’s growing debt profile.

“Where are all the monies being borrowed by the federal government?” he asked. “It is from this standpoint that we must speak directly to the Nigerian Government.”

Ajaero warned that bypassing key stakeholders, distorting Acts of Parliament and ruling “by strong arm” eroded public trust and threatened national stability.

He said the central message of Organise, Don’t Agonise also imposed a responsibility on the state to engage citizens sincerely rather than provoke frustration and social unrest.

“The philosophy of ‘Organise, Don’t Agonise’ also implies that the state has a duty to engage, not enrage.

There is an urgent need for deeper, more sincere, and structured engagement with the trade union movement at all levels,” he said.

“Policies, from fuel pricing to taxation, from wage to social services, must be crafted with the active, respected input of those who represent the workers and the broader masses.”

“To sideline the organised voice of labour is to design policies on shaky, exclusionary foundations, destined to generate crisis and agony as is being witnessed currently,” he added.

The NLC president also demanded the immediate constitution of the PENCOM board and called for clarity and restraint in the implementation of the new tax laws, warning that persisting on the current path was dangerous for tax administration and democracy.

While celebrating Sunmonu as a symbol of courage, integrity and principled engagement, Ajaero said the event had transcended personal honour and become a moment of national reckoning on the condition of Nigerian workers.

He urged the Federal Government to urgently address workers’ wages ahead of the next statutory minimum wage negotiation and called for a decisive shift toward inclusive governance.

“Comrade Sunmonu, as we launch your book today, we pledge to keep its central message alive,” he said.

“We will continue to organise. We will continue to challenge power. We will continue to fight for a Nigeria where no worker has to agonise over poverty, insecurity, heavy taxation or a stolen future riddled with national debt.”

Efforts to obtain official government reactions to the concerns raised were unsuccessful as of press time.

Africa’s foremost businessman, Alhaji Aliko Dangote, has withdrawn his petition to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) against the former Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed.

However, the ICPC said there was no going back on its investigation of Ahmed, stressing that the matter is in the public interest.

The anti-graft agency has activated a formal procedure to reach out to schools in Switzerland to verify whether Farouk’s children were, or are, enrolled in the institutions listed in the petition.

Dangote had alleged that Ahmed expended, without evidence of lawful income, a humongous sum of over $7 million in public funds on the education of his four children in different schools in Switzerland, allegedly paying fees upfront for a period of six years.

Investigation by our correspondent revealed that Dangote decided to withdraw his petition from the ICPC because a similar complaint is already being investigated by the Economic and Financial Crimes Commission (EFCC).

He reportedly asked the ICPC to allow the EFCC to proceed with the investigation, even though he had initially chosen to petition the two agencies.

A source at the commission said: “We asked him to come in person to adopt his petition because our law does not allow representation in criminal matters.

“We pleaded with Dangote to come to the ICPC headquarters in Abuja on December 29 to do the needful.

“We have now received a letter of withdrawal from him. But he cannot stop our investigation because the petition falls within our mandate.

“We deal with the public sector and public service. It is in the public interest, and we must see it to its logical conclusion.

“There is also an inter-agency understanding that once ICPC or EFCC is handling a petition, one of us must stay action.

“Despite the withdrawal of the petition, we are going ahead with our probe of the allegations against Farouk.

“The ICPC has initiated a formal procedure to reach out to all the schools in Switzerland mentioned in Dangote’s petition.

“As a matter of fact, we are awaiting their feedback.”

A statement by the Spokesperson and Head, Media and Public Communications of ICPC, Mr. John Okor Odey, last night confirmed the commission’s position.

The statement said: “The ICPC is in receipt of a letter dated January 5, 2025, titled ‘Notice of Withdrawal of Petition against Engineer Farouk Ahmed’, submitted to the Commission by Dr. O.J. Onoja, SAN and Associates, legal counsel to Alhaji Aliko Dangote.

“The letter states that the petitioner has withdrawn the petition dated December 16, 2025, submitted against Engineer Farouk Ahmed, the immediate past ACE/CEO of the NMDPRA, in its entirety, and that another law enforcement agency has taken over.

“The ICPC wishes to state categorically that, in line with the provisions of Sections 3(14) and 27(3) of its enabling Act, investigations in the interest of the Nigerian people and the Nigerian state have already commenced and are presently ongoing.

“The ICPC will therefore continue to investigate this matter in line with its statutory mandate and in the interest of transparency, accountability and the fight against corruption for the benefit of Nigeria.”

Special Adviser to President Bola Tinubu on Policy Communication, Daniel Bwala, has likened former presidential candidate of the Labour Party, Peter Obi, as Premier League football players that change club every season.

Speaking during an interview on The Clarity Zone Podcast, Bwala described Obi as political opportunist and actor.

He said that Obi has an army of soldiers on social media, who attack people everyday for changing party but do not see anything wrong when their master or hero defected from one party to another.

“Of all the political gladiators in Nigeria, the one who is an actor is Peter Obi. Let me give you a good example. After the 2023 election, he lost everybody he was leading.

“He had House of Representatives and Senators. How many of them are in the National Assembly at the moment? The only governor he had, is the governor with him or with us?

“Taking it down to state, in fact, I have not seen anyone that identifies with him at the moment . All the candidates he had gone across Nigeria supporting, failed.

“He claims to be building a movement. A movement means you are departing from the norm. That means these people can do anything for you but will just realize after a while that oh this is not actually someone with the intention to govern Nigeria.

“Obi is just like Premier League football players that change club every season. He moved from APGA to PDP, then to Labour Party, and now, he is in ADC,” Bwala said.

U.S. President Donald J. Trump, on Saturday, January 3, announced the capture of Venezuelan President Nicolás Maduro following an overnight joint military operation in Caracas.

Speaking at a news conference from his Mar-a-Lago residence in Palm Beach, Florida, Trump described the raid as a high-risk extraction carried out against what he called a heavily fortified target in the heart of Venezuela’s capital.

According to the U.S. President, the operation resulted in the arrest of Maduro and his wife, Cilia Flores de Maduro. Trump said the pair will face criminal proceedings in the United States stemming from a 2020 Department of Justice indictment that includes charges of narco-terrorism and drug trafficking.

While the detention of a sitting foreign president is rare and controversial, Maduro’s case is not without historical precedent. On a handful of consequential occasions, the United States has directly detained or removed sitting presidents or de facto heads of state abroad, actions that have often sparked lasting legal, diplomatic and sovereignty debates.

Here are notable foreign leaders who have been detained by the United States.


1. 1901 — Emilio Aguinaldo (Philippines)

During the Philippine–American War, U.S. forces conducted a covert operation to capture Emilio Aguinaldo — leader of the Filipino independence movement and head of a rival government. Although not a president in today’s sense, Aguinaldo’s detention effectively broke organized resistance and highlighted America’s expanding imperial reach at the start of the 20th century.

His capture remains a defining moment in early U.S. colonial history

2. 1990 — Manuel Noriega (Panama)

Once a CIA asset turned adversary, Panama’s military ruler Manuel Noriega was seized during Operation Just Cause, the U.S. invasion of Panama in 1989–1990. After his surrender, Noriega was flown to the United States, tried in a federal court on drug trafficking charges and sentenced to prison.

His case stands as perhaps the clearest example of the U.S. treating a foreign head of state as a criminal defendant within its own legal system.


3. 2003 — Saddam Hussein (Iraq)

After the U.S.-led invasion of Iraq, Saddam Hussein was found hiding near Tikrit in December 2003. His capture marked a symbolic end to the Ba’athist regime.

Following his arrest, Saddam was transferred to Iraqi authorities, tried before an Iraqi court for crimes against humanity and executed in 2006.

This remains one of the most legally formalised cases of a foreign leader detained after U.S. military engagement.


4. 2004 — Jean-Bertrand Aristide (Haiti)

The removal of Haitian President Jean-Bertrand Aristide remains one of the most disputed U.S. interventions of the modern era.

In the midst of an armed uprising, U.S. forces escorted Aristide onto a plane and flew him out of Haiti.

Washington described the move as a protective evacuation amid chaos, while Aristide later denounced it as a forcible removal, calling it a “kidnapping.”

Debate endures over whether he was “captured,” but the U.S. undeniably controlled his departure.


5. 2026 — Nicolás Maduro (Venezuela)

In a stunning and highly controversial military operation on January 3, 2026, U.S. forces captured Venezuelan President Nicolás Maduro in Caracas and transported him to New York to face criminal charges, including narco-terrorism and drug trafficking.

Maduro and his wife, Cilia Flores, appeared in federal court on January 5 and entered not guilty pleas amid debate over the legality of the operation and claims of presidential immunity.

The Trump administration argued the action was justified by longstanding indictments and a global narcotics threat, but critics say it violates international law and sovereign norms.

by Bukola Aro-Lambo


With less than 90 days to the recapitalisation deadline for banks in the country, 19 banks have now met the new capital requirements ahead of the March 31, 2026 deadline given by the Central Bank of Nigeria (CBN), as First Bank Nigeria, Fidelity Bank and FSDH Merchant Bank join the league of recapitalised banks.

This is as analysts say they expect more banks to conclude their recapitalisation plans between next week and the end of this month.

LEADERSHIP had earlier reported that 16 banks met the new capital requirements for their respective licence categories last year.

These included Access Holdings, Zenith Bank, GTBank, Ecobank, Stanbic IBTC, Wema Bank, Jaiz Bank, Lotus Bank, Providus Bank, Greenwich Merchant Bank and PremiumTrust Bank, alongside Globus Bank, Citibank Nigeria, United Bank for Africa, Nova Bank and Sterling Bank.

More recently, First Bank, Fidelity Bank and FSDH Merchant Bank also joined the list.

Fidelity Bank Plc has raised approximately N250 billion through a private placement. This offer opened and closed on December 31, 2025, driven by substantial investor demand fuelled by the bank’s impressive financial performance and solid track record.

A source close to the lender stated that this swift completion is a notable achievement for Nigeria’s stock market.

NGX regulations typically allow up to 10 days for such private placements.

Fidelity Bank aims to meet the Central Bank of Nigeria’s N500 billion minimum capital requirement for banks with international authorisation by the March 31, 2026 deadline.

Reportedly, participation was limited to a small circle of pre-qualified institutional investors, many with global investment footprints.

Market intelligence estimates the proceeds at roughly N250 billion, comfortably exceeding the bank’s estimated capital gap of N194.5 billion. This fully subscribed offer places Fidelity Bank among the more strongly capitalised Nigerian banks with international operations.

While the CBN is yet to ratify the new capital base of some of these banks, they seem to have scaled the hurdle, with some others set to scale it soon.

A player in the industry who craved anonymity noted that many of the banks yet to clear the hurdle are expected to do so before the end of the month, with announcements expected from next week.

CBN Governor Olayemi Cardoso had late last year confirmed the progress of banks in their race to meet the deadline.

Cardoso had stated that “several banks have already met the new capital thresholds, while others are advancing steadily and are well positioned to comfortably meet the March 31, 2026 deadline.”

He disclosed that 27 banks had accessed the capital market through public offers and rights issues, with 16 already meeting or exceeding the new benchmarks, adding that beyond headline figures, stress tests conducted in 2025 showed that the banking system remained fundamentally robust, with key financial soundness indicators meeting prudential standards across the board.

Despite the progress, several lenders are still fine-tuning their capital plans.

The First City Monument Bank (FCMB) Group is among those in advanced stages of capital raising and regulatory verification.

Shareholders of FCMB Group Plc at an Extraordinary General Meeting (EGM) recently approved an increase in capital raise of up to N400 billion to enable it to retain its international banking licence ahead of the March 2026 deadline.

Group chief executive officer of the bank, Ladi Balogun, noted that “the additional capital will be deployed to strengthen our capital adequacy ratio and accelerate growth.”

Analysts say mergers and acquisitions remain limited for now, but ownership changes are becoming increasingly likely as banks court new investors.

Head of Financial Institutions Ratings at Agusto and Co, Ayokunle Olubunmi, said only a few institutions remain under real pressure.

“Nothing dramatic has happened yet on the mergers front, but by January or February, we could see clearer outcomes. Capital raising through private placements and rights issues will inevitably lead to dilution for shareholders who do not participate,” he said.

The race for capital has also triggered a wave of strategic realignments.

Nova Bank opted to downgrade its licence to a regional banking status, significantly lowering its requirement to N50 billion to beat the deadline.

Meanwhile, consolidation is picking up steam; Union Bank has merged with Titan Trust Bank, and Providus Bank is set to merge with Unity Bank, a move that would create Nigeria’s ninth-largest lender by assets.

Left in the race with the option of either meeting up, merging or closing shop are Keystone Bank, Parallex Bank, Polaris Bank, Signature Bank, TAJBank, Citibank Nigeria and Standard Chartered Bank Nigeria.

Others are FBN Quest Merchant Bank, Coronation Merchant Bank and Rand Merchant Bank.

by Ayomikunle Daramola


Omoyele Sowore, presidential candidate of the African Action Congress (AAC) in 2023, says he would prioritise drone technology over traditional military fighter jets if he becomes Nigeria’s president.

Speaking on Monday during his appearance on Morning Brief, a Channels Television programme, Sowore said drones would be effective in Nigeria’s fight against terrorism and banditry.

“If I’m president of Nigeria, I’m not buying any jet anymore. I’m buying unmanned aerial vehicles. I want to invest in drones. They are pretty expensive, but they are more effective,” he said.

Sowore said drones provide better surveillance with fewer personnel, adding that drones can be deployed to track kidnappers and other criminals in difficult terrains.

“You can just have five persons operate ten drones. Even the drones that they buy for two thousand dollars, I have two of them, and they get seized all the time. They can cover a four-kilometre radius within twenty minutes,” Sowore said.

“If I have ten unmanned drones and operators, and I hear there is a kidnapper walking in the bush, I can use that drone to at least track them for a while, until the police can then conduct their cordon,” he said.

“If I’m president of Nigeria, I won’t have a minister of defence. My minister of defence would be a drone.”

He added that buying multiple drones for a state would significantly improve security, while investing in costly fighter jets that require lengthy training and complex maintenance is inefficient.

On his broader priorities, Sowore said his first focus would be to restore electricity supply across Nigeria.

“It would be a general awareness of dignity. For the first time, you would feel like you’re Nigerian. You’d feel like you’ve come to a country that has respect for you and people ready to work from day one,” he said.

“My priorities are many but one of the first ones is to turn on electricity in Nigeria. It would be my first priority because it would have impact on security.”

By Vanessa Onah


The National Secretary of the All Progressives Congress, APC, Senator Ajibola Basiru, has slammed Minister of the Federal Capital Territory, FCT, Nyesom Wike, urging him to resign from his ministerial position and face his “obsession with Rivers politics and the APC”.

In a statement on Monday, Basiru declared that Wike has no standing to involve himself in any APC political matters until he formally joins the party.

He also rejected Wike’s claim that he is motivated by the N600 billion in the coffers of Rivers State government, emphasizing that he is not an opportunist and has consistently taken principled positions.

“From my record, he (Wike) isn’t a member of APC. I don’t see which authority or temerity he has to be dabbling in APC affairs.

“I am the National Secretary of APC and I don’t see any basis for him to be making comments about my activities either in Rivers State or in any part of Nigeria.

“As the National Secretary of the party, my activities aren’t confined to Osun State contrary to his wrong impression. I am the head of the National Secretariat of the APC.

“So, he has no locus whatsoever to engage me in any political activity that concerns the APC until he joins the party.

“Secondly, I take strong exception to his allusion that I am interested in the N600 billion allocations of Rivers State. My records of service are those of integrity and commitment to service.

“I am not an opportunist, and I have never shied away from taking principled positions on any matter, no matter whose ox is gored.

“As to his veiled threat against me, I am a believer in God, that only God can do something for anybody, no matter how highly placed.

“I am one of the young Nigerians that confronted military dictatorship. I can’t be bullied by anybody, no matter how highly placed. My records as national secretary are above board, and I can’t be queried by somebody who isn’t a member of APC.

“Finally, my advice to him is that he should resign as Minister and face his obsession with Rivers politics,” Basiru said in the statement.

by Chika Izuora


A nationwide petrol price adjustment is expected soon as marketers prepare to take free delivery of products from Dangote refinery.

A source close to the refinery confirmed to LEADERSHIP that modalities are being finalised to ensure all areas of the country are covered.

Our source said the exercise would commence soon and adequate bridging would cover key marketing associations that have signified interest to partner with the refinery.

Already market operators anticipate downward price tweak in response to the refinery’s planned free delivery of its refined petrol to registered members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), and petrol stations nationwide, aiming for January 2026.

The ultimate target is to improve supply, stabilise prices, and support local marketers, though this is a logistical service (free transport) rather than giving away fuel for free to the public, with the goal of lowering pump prices by cutting distribution costs and bypassing middlemen.

Though, the exercise is yet to commence, the national president of the IPMAN, Abubakar Shettima, in a chat with the LEADERSHIP said the country would witness a downward spiral price effect at the take off of the exercise.

Shettima, told our correspondent on the phone that his members anticipated a further crash from current price levels.

According to him, once the exercise begins, IPMAN members will review downward pump price levels to reflect the free distribution gains.

He said that one of the key factors that put pressure on pump price is cost of transportation of products to designated outlets.

The IPMAN president, assured that with the agreement reached with Dangote refinery, price of the products would drop significantly in the north as Dangote trucks would help offset logistics costs.

He also stated that his members would not have to further source products from importers since the agreement would help reduce further associated costs.

Shettima, urged government to jettison the policy of products importation which he said iwas mpacting negatively on the economy.

Our correspondent reports that Dangote refinery is building on existing facility expansion to provide adequate support services to petroleum marketers as it said free product delivery will commence in January 2026.

This services may be available to expanded marketing groups as the IPMAN has called on all its members nationwide to patronise the refinery in their purchase of petrol.

The IPMAN noted that the refinery already offers the best affordable price for all marketers.

The association also expressed delight over a recent agreement by the Dangote Petroleum Refinery to begin the supply of petrol directly to registered IPMAN members.

The IPMAN applauded the support of the Chairman of Dangote Petroleum Refinery, Aliko Dangote towards the Federal Government, which it noted had become evident in the regular reduction of the petroleum pump price.

According to Shettima, “the association has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80% of the PMS retail market. We therefore declare that there will be no gap or scarcity in PMS supply to Nigerians.

“We are also excited at the recent agreement by the Dangote Refinery to begin the supply of PMS products directly to registered IPMAN members, and its free delivery to our filling stations anywhere and everywhere in Nigeria which will commence in January 2026.

“This will again, certainly lead to further decrease in the pump price of the products at our filing stations. Therefore, I am calling on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in their purchase of PMS products, as they already offer the best affordable prize for all marketers today”, the statement added.

The IPMAN boss noted that “At IPMAN we have no doubt as to the viability of the oil and gas policies being initiated by the Federal Government, and we have ceaselessly called and sought for enhanced cooperation across all levels of governance in the oil and gas sector. Hence our repeated persuasion to always partner the Dangote refinery, to ensure the steady availability of PMS products.

“The focus of the Dangote & IPMAN partnership, has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Ahmed Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC.

Our position has always been to deepen domestic refining in order to eradicate imports of petroleum products. Continuous import is NOT an acceptable parallel business model, because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away,” Shettima added.

by Agency Report


The University of Gambia has renamed its School of Agriculture and Environmental Sciences after the former President of the African Development Bank Group, Akinwumi Adesina.

Mr Adesina was honoured in recognition of his contributions to agriculture and food security in Africa.

This was disclosed in a statement signed by Victor Oladokun and made available to journalists on Thursday in Lagos.

President Adama Barrow unveiled a plaque on Wednesday formally designating the faculty as the Dr Akinwumi Adesina School of Agriculture and Environmental Sciences.

The News Agency of Nigeria (NAN) reports that the honour celebrates Mr Adesina’s leadership during his tenure as AfDB President from 2015 to 2025, when the bank implemented wide-ranging reforms that advanced economic development across the continent.

Speaking at the unveiling, Mr Barrow said the renaming reflected The Gambia’s appreciation of Mr Adesina’s “visionary leadership and lasting contributions to Africa’s agricultural transformation.”

Under Mr Adesina’s leadership, the AfDB rolled out the High 5s development agenda, which includes Light Up and Power Africa, Feed Africa, Integrate Africa, Industrialise Africa and Improve the Quality of Life of Africans.

This, according to bank data, impacted more than 535 million people.

During the same period, the Bank’s capital base grew from $93 billion to $318 billion, the highest in its history, while the institution retained its AAA credit rating and won several global awards.

NAN reports that Mr Adesina also spearheaded the Feed Africa Strategy, which provided food security for more than 104 million people and strengthened agricultural productivity across the continent.

In The Gambia, the AfDB under Mr Adesina financed the Senegambia Bridge, a landmark project that has significantly reduced travel time between The Gambia and Senegal and boosted trade and regional integration.

The decision to rename the faculty was conveyed in a letter dated 27 November 2025, by the Minister of Higher Education, Research, Science and Technology, Prof. Pierre Gomez.

“Your tenure as President of the African Development Bank has been transformative, driving economic growth, poverty reduction and sustainable development across Africa,” Mr Gomez said.

He added that Mr Adesina’s leadership in launching the Feed Africa Strategy and the Technologies for African Agricultural Transformation (TAAT) initiative had “revolutionised agricultural productivity and food security.”

The university stated that the gesture was intended to inspire students to emulate Mr Adesina’s vision, determination, and commitment to Africa’s development.

In a letter of appreciation to President Barrow, Mr Adesina described the honour as exceptional.

“It is with great humility and deep gratitude that I express my appreciation for the renaming of the School of Agriculture and Environmental Sciences in my honour,” he said.

NAN recalls that President Barrow, in 2023, conferred on Adesina The Gambia’s highest national honour, the Grand Commander of the Order of the Republic, in recognition of his contributions to the country and Africa.

(NAN)

By Babajide Komolafe


Musa’s phone buzzed just as he was settling down after dinner. “N250,000 CREDIT ALERT.” He smiled. It was money his elder sister in Ibadan had sent to support their mother’s hospital bills.

But almost immediately, another thought crept in. “Wait o… with all this new tax law wahala, will this money be taxed?” If Musa feels confused, he’s not alone.

Many Nigerians are now worried that any money entering their bank account automatically means tax. But that’s not how tax works — and the new tax laws make this clearer than ever. Let me tell you what Musa learned.

Not All Money Is Income The first thing Musa discovered is a simple rule: Tax is not about money entering your account. It’s about what that money actually is. In other words, not every credit alert is income, and only income is taxed.

This is where many people get into trouble — not because they are doing anything wrong, but because they describe money wrongly.

The Description Matters More Than the Alert A few days later, Musa checked his bank statement and noticed something interesting. Each credit had a description. That’s when it clicked.

If money looks like income, the system may treat it like income — even when it isn’t. But when money is correctly described, you only pay tax where tax is truly required. Let’s walk through the kinds of money Musa receives — just like most Nigerians.

Family Support Is Not Income That N250,000 from Musa’s sister? It was family support. As long as it is truly a gift or family assistance, it is not taxable. Money sent to help parents, siblings, or relatives does not suddenly become income just because it entered a bank account.

Correct description: “Gift” or “Family support” Tax: None Refunds and Reimbursements Are Not Income Another day, Musa’s office refunded him money he had spent on transport during a work trip. That money wasn’t profit.

It wasn’t a salary. It was his own money coming back to him. Correct description: “Refund” or “Reimbursement” Tax: None

Moving Your Own Money Is Still Your Money Musa sometimes transfers money from his savings account to his current account. Sometimes he sends money to himself using different banks. That doesn’t create income.

Correct description: “Personal transfer” or “Savings” Tax: None Loans Are Not Income When Musa borrowed money from a cooperative to fix his car, that money also came as a credit alert. But borrowing does not make you richer — you must pay it back. Correct description: “Loan received” Tax: None

Business Capital Is Not Business Income Musa’s cousin runs a small printing business. When she added her own money to the business to buy new equipment, that money entered the business account. But that wasn’t a profit. It was the capital. Correct description: “Capital contribution” Tax: None

Why This Matters Under the New Tax Laws What the new tax laws emphasize is accuracy and transparency. They are not saying: “Every credit alert must be taxed.” They are saying: “Money should be described honestly and correctly.”

If you wrongly label money in a way that makes it look like income, you may end up paying more tax than you should.

One Important Warning

All these descriptions are tax-free only when they are true.

Calling income a “gift” when it is actually payment for work is illegal and can lead to penalties. The law protects honest taxpayers — not false descriptions.


The Lesson Musa Learned

That night, Musa relaxed. He hadn’t done anything wrong. His money was clean, legal, and properly described.

The new tax laws didn’t come to punish him. They came to make one thing clear:

Always describe your money accurately and legally. That way, you pay only the tax you truly owe — and nothing more. And really, that’s something every Nigerian can agree with.

by Emmanuel Femi


The Nigerian Air Force (NAF) operating under the Air Component of Operation FANSAN YAMMA, Sector 2, on December 28, 2025, neutralised scores of terrorists and destroyed their Improvised Explosive Device (IED) manufacturing hub and camps in Zamfara State .

A statement by the NAF spokesman, Air Cdre Ehimen Ejodame, said the two high-impact precision Air Interdiction (AI) missions at Turba Hill and Kachalla Dogo Sule’s Camp, both in Tsafe Local Government Area of Zamfara State also killed several terrorists fighters.

Air Cdre Ejodame said the Air Component, acting on credible and multi-source intelligence, deployed NAF air assets against terrorists’ enclaves at the identified locations.

According him, the first strike targeted Turba Hill, a confirmed bandits’ hideout.

He added that persistent intelligence, surveillance and reconnaissance revealed significant human activity and an operational zinc-roofed structure assessed to be central to the enclave’s activities.

Ejodame said the target was engaged with precision following positive identification, resulting in a direct hit.

“Post-strike battle damage assessment confirmed the complete destruction of the structure and the neutralisation of several bandits,” he said.

According to the NAF Spokesman, the second Air Interdiction mission was conducted at the camp of a Kachalla Dogo Sule, a notorious bandit stronghold identified as a key IED manufacturing and operational hub.

He said intelligence had linked the camp to the planning and execution of recent IED attacks along the Dan Sadau–Magami axis.

“The precision strike successfully engaged multiple active structures within the enclave, triggering intense fires that destroyed the facilities and neutralised several bandits, effectively crippling the group’s IED production and deployment capability,” he said.

He assured that these decisive air strikes represent a significant degradation of bandits’ networks operating in Zamfara State, particularly their capacity to manufacture and employ improvised explosive devices.

He further reaffirmed Nigerian Air Force’s unwavering commitment, working in close coordination with other components of Operation FANSAN YAMMA, to deny criminal elements safe havens, degrade their combat effectiveness, and support ongoing joint efforts to restore lasting peace and security across the North-West and the nation at large.

Controversial Islamic cleric Sheikh Ahmed Gumi has called Nigerians who praise the recent United States airstrikes against extremist groups “stupid,” describing their support as misguided.

The airstrikes, reportedly conducted with Nigeria’s approval, targeted Islamic State‑linked militant camps in Sokoto State.

Officials said the operations were precision attacks based on intelligence shared by Abuja, aimed at weakening insurgent networks.

Gumi criticised the Nigerian government for allowing foreign military involvement and called for it to demand the withdrawal of U.S. forces.

He said: “The Nigeria government should call the attention of the ambassadors concerned to immediately withdraw the US military intervention on Nigeria insurgency fight.”

He then addressed citizens who had welcomed the strikes, describing such reactions as a misunderstanding of the implications for national security.

“This is nothing but a betrayal of our Nigerians. Some people will be saying that since we cannot end the insecurity and we have United States government intervention, why don't we gladly accept the help?” he said in a video.

“There are stupid people whose thinking faculty is very small; they are the ones who will think so.”

“This person (US President Donald Trump) must be stopped and chased out. This is a person that has his hands stained with the blood of children and adults,” he said.

“How can you call for assistance from a thief when they enter your house?”

In a statement titled ‘The Symbolism of the US Strike,’ posted on his Facebook page last week, Gumi said Nigeria had made a strategic error by allowing cooperation with the United States, insisting that “terrorists don’t fight terrorists in truth; they may only kill innocent people and have ulterior motives behind the drama of fighting ‘terror.’”

He further stated that no country should allow its territory to become a battleground or permit its neighbours to become enemies, warning that foreign military presence often comes with hidden agendas.

“If Nigeria wants military assistance, China, Turkey, and Pakistan can do the job effectively,” he said, adding that U.S. involvement would “attract the real anti-US forces, making our land the theatre of war.”

Gumi also cautioned that American intervention under the guise of protecting Christians could deepen religious divisions and undermine national sovereignty.

Investigators have linked a bulk of the wealth of Abubakar Malami, the former attorney-general of the federation, to a number of sources, TheCable can report.

At the top of the list are Paris Club refunds made to states, unpaid loans taken from the Central Bank of Nigeria (CBN) under the anchor borrowers programme, and the restitution of Abacha loot to Nigeria.

Malami has been detained by the Economic and Financial Crimes Commission (EFCC) ahead of his arraignment before a federal high court in Abuja.

Properties estimated at over N200 billion have been traced to Malami. The assets are believed to have been acquired when he was attorney-general under former President Muhammadu Buhari from 2015 to 2023.

He has denied all allegations in statements by his media team, alleging political persecution and promising to defend himself in court.


PARIS CLUB REFUNDS

On the legal advice of Malami, the federal government had decided to deduct $418 million from state allocations as payment to consultants over the Paris Club refund.

Nigeria had exited the Paris Club of creditors in 2005 after paying $12 billion in exchange for a write-off of $18 billion of its $30 billion debts accumulated from the early 1980s.

However, the federal government, under former President Obasanjo, paid the $12 billion from the federation purse regardless of how much was owed by the federal, state and local governments to the creditors.

After the states protested, it was decided that they should be refunded since most of the debts were taken by the federal government — with most states not owing foreign creditors.

Consultants were engaged by the federal government to calculate how much was to be refunded to the states, and they charged a commission in excess of $400 million.

The Nigeria Governors’ Forum (NGF) opposed the arrangement, but Malami insisted that the consultants must be paid from state allocations, to be deducted at source.

In a media spat between 2021 and 2022, the NGF accused Malami of pursuing “selfish interest” and alleged that he was working for the consultants rather than in the national interest.

“We’re constrained by the manner in which the honorable attorney-general has been going around various media houses and purporting to create the impression that this is a liability to which governors had committed themselves to and agreed to, even though he is very much aware that that’s not the case,” the NGF said.

“And we reject all of the claims that he has made on this issue. And we also insist that states will not give up on insisting that these purported claims are fraudulent and will not stand as far as governors are concerned and we would take every constitutional and legal means to ensure that these purported consultancy are fully litigated upon by the highest court in the land.”

After initially stopping payment, Buhari later gave his approval, much to the disappointment of the governors.

EFCC investigators have traced the bulk of Malami’s alleged sudden wealth to kickbacks from the deal, sources in the know told TheCable.


ANCHOR BORROWERS’ PROGRAMME

In 2015, the CBN launched the anchor borrowers programme (ABP) — a development finance initiative to boost local food production, create jobs, and reduce food imports.

The ABP was to provide farmers with farm inputs such as seeds, fertiliser and cash for labour, to enable them to increase yields and supply processors.

This was to create a value chain linkage from farm to market and supporting food.

Investigators discovered that Malami used the name of one of his wives, Hajiya Bashir Asabe, to get a N4 billion loan, which was never repaid.

The wife has now been charged to court along with him.

The CBN dispensed over N1 trillion on the ABP and is yet to recover over N600 billion, fuelling speculation that a significant portion of the disbursements might have been slush fund for politicians.


ABACHA LOOT COMMISSION

In 2016, Malami hired the services of two Nigerian lawyers — Oladipo Okpeseyi and Temitope Isaac Adebayo — for the repatriation of $321 million stolen by Sani Abacha, the former military head of state.

The repatriation of the stolen funds started before the administration of former President Muhammadu Buhari in 2015.

The monies had been recovered and frozen in 2013 under former President Goodluck Jonathan, but the repatriation process was stalled in 2015 following a lawsuit filed by the Abachas.

From 2013 to 2014, the federal government had engaged the services of Swiss lawyers, Enrico Monfrini and Christian Luscher, to recover the stolen funds from Liechtenstein and Luxembourg — and domiciled the monies with the attorney-general of Switzerland.

Nigeria had paid four percent of the recovered Luxembourg assets as professional fees and expenses to the foreign lawyers, in addition to roughly $6.8 million in fees paid to Monfrini for the Liechtenstein recoveries.

Since all the fees had been paid by Nigeria, it was only required that Malami, who was the then AGF, would sign a memorandum of understanding (MoU) with the Swiss authorities and commit to an undertaking that the funds would be properly utilised.

However, in December 2017, Malami, in a suspicious move, engaged the services of the two Nigerian lawyers, which cost the country $16.9 million as commission and professional fees from the recovered funds.

Malami engaged the two lawyers to duplicate the job of the Swiss lawyers and get their own cut from the already done deal.

TheCable understands that Okpeseyi and Adebayo have been detained and interrogated by the EFCC.

“They made useful statements to the EFCC,” a source in the know told TheCable.

After the disbursement of the duplicated commission, payments were said to have been traced to Malami by investigators at the anti-graft agency.

by Aderonke Oni


Tears, anguish, and a cry for help filtered through Nigeria’s social media space on Christmas Eve. For many importers and Instagram vendors, the festive season ushered in losses reportedly north of “billions”, following an inferno that consumed the 22-storey Great Nigeria Insurance House on Martins Street, Lagos Island.

The fire had lit up the skies on the night of December 24, spreading to adjacent structures, including a mosque, before emergency responders brought it under control.

In an update on December 25, Damilola Oke-Osanyintolu, director-general of the Lagos State Emergency Management Agency (LASEMA), said preliminary investigations showed that the fire originated from an apartment on the fourth floor before rapidly escalating to the sixth floor and beyond.

Seven adult males reportedly sustained various degrees of burns and received immediate medical attention from paramedics before being transferred to nearby hospitals.

The building, which served as a warehouse and outlet for clothing materials, alongside corporate offices, housed goods “worth millions”, and in some cases, “billions of naira”, according to affected traders.

Several vendors took to social media to narrate their losses and the emotional toll of the incident.

An importer, with the name ‘Monchericloset_empire’ on Instagram, described the building as “majorly a warehouse”, lamenting that importers had lost goods worth billions of naira.

“To be an importer is not easy. I am not even crying for myself only. I am crying for everybody that has goods in that Great Nigeria House. Imagine billions of naira,” she said.

Another vendor, known as the ‘_houseofemmy’, said illness delayed her from clearing newly arrived goods from the warehouse.

“What type of consolation do I want to give myself? I keep blaming myself. I cannot cheat nature. I have been sick since last week. Terribly sick, and whenever I have migraine, I will be unable to function,” the vendor said.

“Last week, I was called that my market has arrived. I was saying, what is my January market doing now in December? That it was too early. I was like, ‘let me see the way my body will feel when I come back next week, (this week that we want to enter), we will offload everything. I am very sure we would have sold a little bit from the goods in the store and there will be space.

“I was still saying that I would go and pay, not until I saw the fire incident. I just questioned myself.

“Everything people worked for in one year. No single holiday, no single break for me since 2024. I worked all year.”

Also, Bussie_closeet said she delayed clearing her goods until December 29, only for the warehouse to be “burnt to ashes”.


‘I SAW PARTICLES OF MY GOODS… IN THE FLAME’

“Imagine losing all my new year goods to Wait and Carry,” she added.

Another vendor, Tifefashionstores confirmed that both personal and pre-order goods were destroyed in the fire, urging customers to be patient as shipping companies were yet to provide full details.

“A lot of people are asking if their exact goods are there or not. We are not certain of all items yet, as the shipping company hasn’t provided all information. With time, we will be back with solid information,” she said.

“Please be gentle on me at this time, that’s all I ask. Millions of naira have gone in the flames, I could see particles of my goods.”

In an emotional post, a TikTok user identified as Bimzee Collections said she lost two shops to the fire.

“God, do you want to take everything from me? People will mock me,” she said.

“I have no one to depend on. I have been struggling since d (sic) age of 12 years old. So all what I have been struggling for since this year has vanished just in a day.”

An Instagram vendor, Chic.hub, said she confirmed the loss of her goods after initially trying to shield herself from the emotional impact.

“I can’t stop thinking about how much stress I went through in China trying to source all these items and how much money went down just to invest in my business. 2025 will forever be a year I will never forget!” she said.

TheCable understands that about 36 containers were in the affected building.

In an official notice circulated among victims, Wait and Carry Cargo said it would not issue payments or refunds to affected customers, citing the losses it also incurred.

The company said the fire destroyed its office, warehouses, and stored goods, adding that it was still conducting a full assessment as not all affected containers had been identified.

“However, we are actively working to put all necessary information together and will continue to keep our customers updated,” the notice reads.

“For now, below is the list of recently offloaded containers that were within the affected building: 638, 640, 648, 653, 656, 657, 660, 661, 668, 669, 674, 675, 676, 677, 678, 679, 681, 684, 687, 691, 695, 701, 703, 704, 705, 707, 708, 709, 715, 716, 717, 719, 720, 723, 724.

“Kindly note that this incident falls under Force Majeure/Act of God, being an unforeseen and unavoidable event beyond the control of the company.

“As a result, no payments or refunds can be made to affected customers, as the company has also suffered a total and severe loss.

“We sincerely appreciate your patience and understanding during this extremely difficult period.”

A similar notice from Express Cargo, another shipping company, also circulated online.


‘NO WRITTEN REPORT CAN REFLECT PAIN’

Reacting to the incident, Babajide Sanwo-Olu, governor of Lagos state, expressed sympathy with the victims and commended emergency responders.

Sanwo-Olu, who visited the scene for an on-the-spot assessment, noted that the scale of the loss could not be fully captured in reports.

“No written report can truly reflect the pain or the full extent of this loss,” the governor said.

“I want to thank our firefighters, emergency responders, and all the agencies that worked tirelessly through the night to bring the fire under control. Their courage and dedication saved lives and prevented the damage from spreading further.”

He said the state government will continue to assess the situation and “provide support to those who have been impacted”.

Many traders reported that the state fire service failed to put out the blaze, despite arriving early at the scene.

Explaining the delay in containing the fire, Margaret Adeseye, controller-general of the Lagos State Fire and Rescue Service, said the affected buildings are predominantly warehouses with poor storage practices, involving highly combustible materials that fuelled the fire’s rapid spread and complicated suppression efforts.

Adeseye added that crowd control and limited access to the scene posed significant challenges for emergency responders, while the conjoined nature of the building structures further aided fire propagation.

by Bunmi Aduloju


Conflicting figures have been noticed in the proposed federal government budget for 2026.

On December 19, President Bola Tinubu presented the 2026 budget of N58.18 trillion to the national assembly.

He highlighted the key aggregates to include: expected total revenue of N34.33 trillion, projected total expenditure of N58.18 trillion, recurrent (non-debt) expenditure of N15.25 trillion, and capital expenditure of N26.08 trillion.

According to the president, the budget is expected to be funded with a revenue of N34.33 trillion, leaving a budget deficit of N23.85 trillion (4.28 percent of gross domestic product).

Following Tinubu’s national assembly engagement, a major stakeholder in the civic tech space reported a different amount.

BudgIT, a civic tech non-profit organisation, cited N58.47 trillion as the proposed 2026 budget.

According to the organisation, the appropriation bill includes capital expenditure of N25.68 trillion, debt servicing of N15.52 trillion, personnel costs of N10.75 trillion, statutory transfers of N4.1 trillion, and overhead costs of N2.22 trillion.

Checks by TheCable Index showed that this amounted to N58.27 trillion, as against the total of N58.47 trillion presented by BudgIT.

Earlier on December 19, the federal executive council (FEC) approved the 2026 appropriation budget, with aggregate expenditure projected at N58.47 trillion.

The discrepancies may create uncertainty about Nigeria’s exact spending plan for 2026 and raise questions about the country’s budgeting processes.

by Aderonke Oni


The Dangote Petroleum Refinery says it has commenced nationwide sale of premium motor spirit (PMS), also known as petrol, at N739 per litre across all MRS Oil Nigeria Plc filling stations.

Dangote refinery said the move represents a significant milestone in its mission to deliver affordable petrol and stabilise Nigeria’s downstream petroleum market.

The firm said with over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of the reduction reach consumers nationwide.

“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump,” the refinery said in a statement on Sunday.

“We call on others to join this effort as a show of support for Nigeria’s economic recovery.

“Historically, the festive season has been associated with fuel scarcity and sharp price hikes.

“However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship.

“Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.”

By refining locally at scale, the refinery said it is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange (FX), stabilising the naira, and strengthening energy security.

The refinery said its sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.

But the organisation warned against attempts by “unscrupulous” operators to create artificial scarcity in response to the price reduction, calling on government agencies to take decisive action.

“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable,” the statement further reads.

“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period.”


‘REPORT MRS STATION SELLING ABOVE N739’

The refinery urged consumers to refrain from buying petrol at inflated prices, noting that high-quality alternatives are available.

“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide,” the firm said.

“Report any MRS station selling above N739 per litre by calling 0800 123 5264.

“We also call on other petrol station operators to patronise our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market.”

Dangote refinery reaffirmed its commitment to steady supply, price moderation, and energy security, noting that its operations are anchored on long-term national interest rather than short-term market pressures.

By Dare Olawin


As more MRS filling stations in Lagos and Ogun states join in dispensing the Premium Motor Spirit (petrol) produced by the Dangote Petroleum Refinery at N739 per litre, motorists have started boycotting retail outlets that sell the product at higher prices.

This has compelled other stations to lower their petrol prices by about N100 per litre, an amount that is far below their cost of purchase, indicating the severity of the price war in the downstream oil sector.

Last week, the Dangote refinery shocked depot owners and marketers when it slashed the gantry price of petrol by N129, from N828 to N699 per litre. During a recent press briefing, the President of the Dangote Group, Aliko Dangote, said he had information that some marketers planned to keep pump prices high despite the reduction in the gantry price.

Consequently, Dangote vowed to enforce the new price regime, with MRS selling petrol at N739 from last Tuesday. “I was told that the marketers have met with (some officials) and were told to make sure that the price is maintained high. But this price we are going to introduce, we are going to start with MRS stations, most likely on Tuesday (last week) in Lagos; that N970 per litre, you won’t see it again. We have also asked members of IPMAN to come now. We have asked anybody who can buy 10 trucks to come and buy 10 trucks at N699.

“We are going to use whatever resources we have to make sure that we crash the price down. For this December and January, we don’t want people to sell petrol for more than N740 nationwide. Those who want to keep the price high to sabotage the government, we will fight as much as we can to make sure that these prices are down. If you have money to come and buy, you can pick up petrol at N699,” he said.

Our correspondent reports that when some MRS filling stations in Lagos dropped the price of petrol on Tuesday, it triggered long queues of vehicles seeking to buy the commodity at the outlets. It was observed that the MRS filling station in Alapere, Lagos, recorded a large turnout of buyers, many of whom boycotted other outlets selling petrol above N800 per litre.

As a result, checks by our correspondent on Sunday showed that other filling stations had started reducing prices in order to remain competitive in the market. From over N900 last week, many retail outlets now sell petrol below N800 per litre as motorists patronise those with lower prices.

While buyers thronged MRS and other stations with cheaper fuel, outlets selling at higher prices struggled to attract customers.

“The good thing is that there is always an MRS in almost every neighbourhood you turn to, and this has given buyers the opportunity to shun other stations to buy the cheaper Dangote petrol from MRS. This is a major concern for all traders nationwide,” a major oil marketer familiar with the development, who spoke to our correspondent in confidence in order not to be victimised, stated on Sunday.

The PUNCH reports that as of Sunday, many filling stations had effected changes in their pump prices.

For instance, SGR filling station in Ogun sold petrol at N750 per litre, while Petrocam in Mowe sold the fuel at N785 per litre. The stations struggled to compete with the N739 price offered by MRS opposite the RCCG Camp Ground. Before now, their prices were close to N900.

Heyden, known to be a partner of Dangote, had yet to lower its price, selling petrol at N875 per liter, while AP sold the product at N800 per litre. It was observed that Mobil filling stations along the Lagos-Ibadan Expressway sold petrol at N780; Akiavic, N799; Habeeb, N850; Eternal, N880; and Asharami, N890 per litre.

The fuel prices represent a significant reduction of about N100 or more compared to their previous price levels before Dangote dropped the price. However, The PUNCH reports that the reduction comes at heavy losses to both Dangote and the marketers competing with him.


Dealers suffer losses

Amid the intense competition, the Nigerian National Petroleum Company Limited also reduced petrol prices from N875 to between N825 and N840, depending on the location. The state-owned company is one of the biggest importers of petrol in November, according to a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

In the NMDPRA fact sheet, the NNPC, said to be the supplier of last resort, imported petrol in November to build inventory and further guarantee supply during the peak demand period.

However, at a landing cost of about N828 per litre, according to the Major Energies Marketers Association of Nigeria, importers like the NNPC would find it difficult to compete with Dangote’s N699 per litre ex-depot price and N739 per litre pump price, thereby selling the product below the landing cost.

Recall that the NNPC used to be the sole importer of petrol due to subsidies. As the Dangote refinery began petrol production a year ago, the sector was fully deregulated, and the queues that used to build up at NNPC stations because of price differentials vanished.

It was gathered that many NNPC stations in Lagos now struggle for customers who opt for lower petrol prices.

Meanwhile, as marketers said they were losing billions of naira, Dangote replied that he was also losing money. Findings by The PUNCH show that petrol importers are on the verge of losing as much as N102.48bn monthly following the Dangote refinery’s reduction in gantry price.

At the same time, the refinery is projected to lose about N91bn in a month as a direct consequence of the price cut, underscoring the intensity of the competition currently reshaping Nigeria’s downstream oil market.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, earlier said, “Marketers will lose over N80bn on this reduction. We will lose more than N80bn. And now that this reduction is there, you will see that the pump price will start dropping gradually from N900 towards N750 per litre,” he said, adding that consumers would naturally flock to stations selling cheaper fuel.

Ukadike urged the Dangote refinery to consider compensating marketers who bought petrol at the old rate, suggesting discounts on future purchases as a way of cushioning the losses.

Dangote, however, insisted that the refinery was also losing heavily each time it reduced prices. During the last media briefing, he disclosed that the refinery lost about N60bn in November alone after reducing gantry prices by N49.

“For the marketers, I pray, and I wish they would even lose more because I’m not printing money. I’m also losing money; it’s not that I’m making money,” Dangote said recently.

He added, “They want imports to continue. I don’t think it is right. They want to continue to dump imported petrol, so I must have a strategy of how to survive because $20bn of investment is too big to fail. We are in a situation where we will continue to play cat and mouse, and at the end of the day, somebody will give up. It is either we give up, or they will give up, and I don’t think I will give up.”


Price determines patronage

Speaking with our correspondent on Sunday, IPMAN spokesperson Ukadike stated that any marketers who refuse to reduce prices would lose their customers, saying price determines patronage.

“We are in a situation where competition can be determined by price. Patronage will be determined by pricing. Nobody is againstyou; nobody is regulating you. You will regulate yourself. The market will regulate itself. The time has gone when people were queuing at NNPC filling stations. Wherever the fuel is cheap, that is where the marketers go. So, we are in a price war. Demand and supply determine the price.

“Once Dangote has reduced the gantry price to N699, marketers will dive towards competitive pricing whereby they can retain their numerous customers; if not, interest from banks would be ‘eating’ your capital,” Ukadike said.

He announced that the association has entered into a partnership with the Dangote refinery.

“We have formed a partnership already because Dangote has invited IPMAN for the first time. The major marketers have failed Dangote. He has now realised that only the independent marketers are the strategic partners that can evacuate his petroleum products as quickly as possible. He said IPMAN should come and pick up the products. He said it clearly. And since that time, we have provided tremendous patronage,” he said.

Ukadike expressed optimism that Dangote would compensate IPMAN members for the losses incurred as a result of the sudden price drop.

“Definitely, he will do that, seeing our continuous patronage. You know, Dangote’s marketing strategy is a reward for patronage. He makes it easier for independent marketers by cutting the minimum quantity we can purchase to 250,000 litres, and you know the independent marketers constitute over 85 per cent of petrol filling stations in this country. Our members are going straight to the refinery to load petrol individually,” he disclosed.


1,000 petrol trucks

The Dangote refinery confirmed over the weekend that over 1,000 fuel trucks now flock to the facility daily to load petrol. A statement by the company said the refinery has emerged as the hub of fuel distribution in Nigeria, following “bold strategic adjustments aimed at making energy more affordable and accessible.”

This, it said, followed the significant reduction in gantry price alongside a cut in the minimum purchase requirement from two million litres to 250,000 litres. “These measures underscore Dangote refinery’s commitment to stabilising supply, fostering inclusivity, and supporting national economic growth,” the statement said.

To further reassure marketers, the refinery said it had introduced a 10-day bank guarantee system, ensuring uninterrupted supply and strengthening confidence in its operations.

“Since the announcement, the response from fuel marketers has been overwhelming. The refinery now records over 1,000 trucks loading PMS daily from its gantry, a clear testament to market trust in the Dangote refinery’s efficiency and leadership in the downstream sector.”

Aliko Dangote was quoted as saying, “Our goal has always been to make energy affordable and accessible for every Nigerian. By reducing prices and lowering the minimum purchase volume, we are empowering both large and small marketers to participate in the market, ensuring fuel reaches every corner of the country.”

It was added that the approach opens the market to smaller operators, strengthening distribution networks and improving fuel availability across the country.

“By lowering barriers to entry, Dangote refinery is driving competition and ensuring Nigerians benefit from a more stable and affordable fuel supply chain,” it was stated.

Meanwhile, in a short video on its social media handles, the Dangote Group warned Nigerians against being overcharged by other filling stations, saying petrol is now N739 per litre.

“Petrol is now selling at N739.00 per litre at MRS filling stations nationwide. Avoid being overcharged by other stations! Say no to rip-offs. Get quality petrol at MRS stations nationwide. Many other stations are joining soon,” the Dangote Group said.

By Damilola Aina


The Federal Government has announced plans to tap into Nigeria’s largely informal vehicle recycling market, projecting annual revenues of over N150bn from 2026, as part of sweeping reforms to modernise the country’s automotive industry.

The National Automotive Design and Development Council disclosed this in a statement issued on Sunday, with the Director-General, Joseph Osanipin, saying the initiative would be driven by a comprehensive End-of-Life Vehicle programme already approved for implementation.

Osanipin explained that the policy would formalise the recycling of vehicles that have reached the end of their useful lives, turning what is currently an environmental and safety burden into a major economic opportunity.

“In developed countries, when you buy a new vehicle, during registration, you make a payment towards the disposal of that vehicle when it reaches the end of its life. When it gets to the end of its life, somebody has to be responsible for the disposal,” he said.

According to him, Nigeria’s programme will follow a similar model, requiring a modest fee at the point of vehicle registration to fund environmentally sound disposal and recycling, a move he acknowledged may initially face public resistance.

Osanipin noted that Nigeria already has a thriving informal second-hand auto parts market, commonly referred to as the Belgian parts market, driven largely by durability and quality concerns around new parts.

He said studies by the council showed that over 85 per cent of components from end-of-life vehicles remain reusable or recyclable, creating a strong foundation for a formal circular economy.

“If someone has an alternative, instead of abandoning vehicles by the roadside, you can turn them in and still make something out of them. The circular economy associated with this will be worth billions of naira every year, if well managed,” he said.

He added that beyond revenue generation, the recycling ecosystem would create thousands of jobs across dismantling, refurbishing, logistics and component resale segments.

The announcement comes against the backdrop of a rebound in Nigeria’s vehicle import market this year. The PUNCH recently reported that the value of passenger motor car imports rose to about N1.01tn in the first nine months of 2025, up from roughly N894bn in the same period last year, signalling a resurgence in demand as foreign exchange market stability improves and importer confidence returns.

Data from the National Bureau of Statistics showed that the recovery only gained traction in the second half of the year, with the third quarter posting a sharp uptick in import value that more than offset slower activity earlier in the year.

The rebound underscores the resilience of Nigeria’s auto market, especially the fairly used (“Tokunbo”) segment, but also highlights persistent challenges, including high landing costs, currency exposure, and structural dependence on imports.

As part of the reforms, the NADDC will introduce mandatory pre-export certification for all used vehicles imported into Nigeria from 2026, a measure aimed at curbing the dumping of rusted and end-of-life vehicles into the country.

Osanipin said Nigeria was currently one of the few African countries without such a requirement, making it a destination of choice for exporters seeking to offload unroadworthy vehicles.

He recounted a meeting with a foreign exporter who admitted shipping eight containers of end-of-life vehicles to Nigeria because it offered the “highest profit.”

“We will ensure that importers are held responsible so that whatever you are buying, you know what you are buying,” he said, adding that the cost of certification would be borne by exporters, not Nigerian consumers.

In a parallel push to future-proof the sector, Osanipin unveiled plans to convert petrol and diesel-powered vehicles to electric vehicles and compressed natural gas, in line with the National Automotive Industry Development Plan.

He said the council had commenced extensive training programmes on EV technology, vehicle conversion and alternative fuel systems for both regulators and industry players.

“Capacity building is one of the major pillars of the NAIDP. “We have carried out training on vehicle conversion from PMS and diesel to CNG, as well as on electric vehicles,” he said.

He disclosed that the council had developed National Occupational Standards for EV maintenance and CNG retrofitting, with structured certification programmes expected to begin by 2026.

Osanipin said Nigerian engineers and students were making notable progress in local vehicle design, citing projects involving tricycles, buses and electric campus shuttle buses developed in collaboration with 12 universities and private sector partners.

“We want what is taught in our institutions to reflect industry realities. Producing even a few world-class auto engineers locally will have a significant impact on the economy,” he said.

He stressed that component manufacturing remains the real value driver in the automotive sector, noting that Nigeria spends more annually on tyres, brake pads, filters and batteries than on importing complete vehicles.

The council, he said, was engaging stakeholders to address infrastructure, financing and policy bottlenecks facing component manufacturers, especially as Nigeria positions itself to benefit from the African Continental Free Trade Area.

Osanipin also revealed plans to transform the NAIDP from a policy document into an Act of Parliament, announcing that a draft Auto Industry Bill would soon be presented to the National Assembly.

“Investment in the auto sector is huge. They will need an Act,” he said.

Acknowledging that some of the reforms would face resistance, Osanipin appealed to the media for support in explaining the policies to the public.

“When the pushback comes, we need you to explain to Nigerians what we are trying to do and why,” he said, describing 2026 as a pivotal year for Nigeria’s automotive industry transformation.

Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has reacted to the Senate President Godswill Akpabio’s recent plea to President Bola Tinubu to review the withdrawal of police escorts attached to lawmakers, saying her faith and the support of her constituents were her true protection.

Akpoti-Uduaghan made the statement in a Facebook post on Sunday, in what appeared to be a veiled response to Akpabio’s comments during the joint session of the National Assembly on Friday, where President Tinubu presented the 2026 Appropriation Bill.

Quoting Akpabio’s appeal to the President, she wrote, “Some senators won’t be able to go home this holiday, please review your security policy.”

Responding pointedly, the vocal female lawmaker stated, “When you withdrew my security amidst the illegal suspension nko? Allah Almighty, through my beloved people of Kogi Central, are my security. Beat that love.”

Recall that Senator Natasha was suspended from the Senate for six months with privileges withdrawn over alleged misconduct in the Senate chamber.

LEADERSHIP reports that the Senate President had during the Friday session, expressed concern that some legislators might face security threats following the implementation of the President’s directive ordering the withdrawal of police escorts from Very Important Persons (VIPs).

Recall that Tinubu, in November, directed that police officers assigned to politicians, businesspeople, and other VIPs be redeployed to perform core policing duties in communities nationwide to tackle insecurity. The order was part of efforts to strengthen public safety and address the shortage of personnel in critical security areas.

Akpabio, however, warned that the decision might left some lawmakers vulnerable, particularly during the holiday season. He said, “As you direct the security agencies to withdraw policemen from critical areas, some of the National Assembly members said I should let you know that they might not be able to go home today because they might be picked up. So, on that note, we plead with the President for a review of the decision.”

The appeal came amid similar concerns raised by Senator Abdul Ningi, who earlier complained that his police orderly had been withdrawn while some VIPs elsewhere continued to enjoy security protection. Ningi urged the Federal Government to apply the policy “across the board” in the spirit of fairness and equity.

by Yusuf Alli


Pushes ahead despite ex-CEO’s resignation
Raises panel, opens investigation on Monday
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has invited businessman, Aliko Dangote for more information in respect of his petition against the immediate past managing director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed.

Dangote is expected to appear or send his lawyer, Ogwu Onoja (SAN) tomorrow when ICPC’s investigation of the petition formally commences.

The commission raised a panel of crack investigators on Friday to handle the probe,The Nation learnt yesterday.

The ICPC ,according to sources ,has asked Dangote to submit his evidence to the anti-graft agency.

Dangote had accused Farouk of corruption and misappropriation of funds, including spending millions of dollars on his four children’s education in expensive and exclusive schools in Switzerland.

The businessman accused Farouk of economic sabotage by undermining domestic refining by colluding with international traders and oil importers through the continued issuance of import licences.

Farouk has since resigned his appointment.

But the commission said it is going ahead with the investigation, Farouk’s resignation notwithstanding.

“All is set for the investigation, ” a well- placed source in ICPC told The Nation yesterday.

“ICPC has set up a panel of crack investigators on Dangote’s petition. The Chairman of the commission, Dr. Musa Adamu Aliyu (SAN) asked the trusted team to stay action on a case and focus on Dangote’s petition. This underscores the importance attached to this case,” the source said.

“We have also invited Dangote or his lawyer to come on Monday to adopt the petition. “Either of them is to present relevant documents or evidence to support the petition.

“He who alleges must prove or provide lead on the allegations which our investigators must act on.

“We have acknowledged the receipt of the petition in line with our guidelines or mandate to do so within 48 hours.”

Continuing, the source said :”after formal adoption of the petition, we will isolate issues and ask Ahmed to respond to the allegations.

“We have been inundated with enquiries but I can assure you that ICPC will be fair to all the parties.”

Responding to a question, the source added: “The resignation of Ahmed does not affect this probe which is in the public interest.”

“Section 19 of the Corrupt Practices and Other Related Offences Act (ICPC Act 2000) makes it an offence for any public officer to use his/her position to confer an unfair or corrupt advantage on himself, his relatives, associates, or other public officers.Anyone found guilty of any such offence is liable to five years imprisonment without the option of a fine.

“The enabling law also stipulates harsh punishment for individuals deemed to have wasted ICPC’s time and resources by making malicious or frivolous petitions against others.”

In the petition submitted on Tuesday through his lawyer, Ogwu Onoja SAN), Dangote demanded the arrest, investigation and prosecution of Farouk for allegedly living above his means as a public servant.

He accused Farouk of “spending without evidence of lawful means of income amounting to over $7 million for the education of his four children” in Switzerland.

The document named the children and their schools and provided specific amounts paid for verification.

“Engr Farouk Ahmed spent without evidence of lawful means of income humongous amount of money of over $7million of public funds, for the education of his four children in different schools in Switzerland for a period of six years upfront,” Dangote alleged.

“It is without doubt that the above facts in relation to abuse of office, breach of the Code of Conduct for public officers, corrupt enrichment and embezzlement constitute gross acts of corrupt practices, for which ICPC is statutorily empowered under section 19 of the ICPC Act to investigate and prosecute,” Dangote added.

The cold war between Dangote and petroleum regulators had earlier sparked a N100billion suit.

The Dangote Petroleum Refinery and Petrochemicals FZE filed a N100 billion lawsuit at the Federal High Court in Abuja challenging import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and others, including the Nigerian National Petroleum Company Limited (NNPCL).

The refinery accused the regulator of granting licences to import refined petroleum products despite domestic production capacity.

It alleged that the action of the regulator has violated some sections of the Petroleum Industry Act.

The suit, FHC/ABJ/CS/1324/2024, was discontinued in July 2025 by Dangote’s lawyers.

ICPC petition guidelines say: “Any person anywhere in the world may make a complaint against any other person (corporate or non- corporate) in Nigeria, where reasonable grounds exist for suspecting that such a person has conspired to commit or attempted to commit or has committed an offence under the Corrupt Practices and Other Related Offences Act 2000.

●Complaint/petition is made through oral/written report submitted through post, physically to any ICPC office in Nigeria.

●A complaint made orally or by an illiterate shall be reduced into writing and read over to the complainant by an officer of the Commission.

● The report shall set out details of the complaint , date, time and place where the offence was allegedly committed.

●The complainant shall provide the names and addresses, phone number, email and other relevant information that may assist the Commission in locating the person or persons against whom the complaint is made.

●The complainant shall state his/her full address, email or phone number or any other information that will assist the commission in contacting him/her, whenever necessary.

●Reports can also be made online through any of the commission’s reporting platforms.

●The commission shall acknowledge receipt of any petition within 48 hours.

Spokesperson of ICPC , John Okor Odey confirmed that the commission “received a formal petition on Tuesday, 16th December, 2025 from Alhaji Aliko Dangote through his lawyer. The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated.”