Author: Gbenga Olaleye

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has denied allegations of corruption and financial impropriety, describing them as misleading and driven by vested commercial interests threatened by ongoing reforms in the downstream petroleum sector. In a statement issued on Monday, Ahmed said he welcomed scrutiny of his finances and formally invited anti-graft agencies to investigate claims surrounding the funding of his children’s education abroad. The allegations, which have gained renewed public attention in recent days, accuse the NMDPRA boss of spending between $5 million and $7 million on his children’s…

Africa’s richest man and President of Dangote Group, Aliko Dangote, has formally petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over alleged corruption, financial impropriety and abuse of office by the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed. The petition, dated December 16, was submitted through Dangote’s legal counsel, Ogwu James Onoja (SAN), and received by the ICPC Chairman, Dr Musa Adamu Aliyu (SAN). In the document, Dangote called for the immediate arrest, investigation and prosecution of the NMDPRA boss, accusing him of living far beyond his legitimate earnings as…

President Bola Ahmed Tinubu on Tuesday night held a closed-door meeting with leaders of the Nigeria Labour Congress (NLC) at the State House in Abuja, in an apparent move to address labour concerns ahead of the union’s planned nationwide protest over rising insecurity. The high-level engagement, which took place late in the evening, was attended by several senior government officials, including the Chairman of the Progressive Governors’ Forum and Governor of Imo State, Hope Uzodimma; the Governor of Edo State, Monday Okpebholo; the Governor of Kebbi State, Nasir Idris; and the Minister of State for Labour and Employment, Honourable Nkeiruka…

Petroleum importers and marketers in Nigeria are facing heavy financial losses following an aggressive price reduction by the Dangote Petroleum Refinery, which has triggered an intense price war in the downstream oil sector. Industry sources estimate that oil marketers are collectively losing as much as ₦102.48 billion monthly as they struggle to compete with Dangote Refinery’s sharply reduced petrol prices. The refinery recently slashed its gantry price from ₦828 per litre to ₦699 per litre, a move that has significantly disrupted the market and forced other players to cut prices to remain competitive. Based on Nigeria’s estimated daily petrol consumption…

The Nigerian Senate has directed the National Security Adviser (NSA) to investigate the circulation of false reports alleging that Senate President Godswill Akpabio suffered a health emergency and was rushed to a hospital in London. The resolution was adopted during plenary on Tuesday following a point of order raised by Senator Titus Zam, who condemned the spread of what he described as deliberate misinformation across social and digital media platforms. Zam said the reports were not only false but also dangerous, warning that unchecked fake news could undermine public confidence in democratic institutions. According to the lawmaker, the fabrication and…

The Central Bank of Nigeria (CBN) has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing persistent regulatory violations, weak financial positions and prolonged non-compliance with supervisory requirements. The decision was announced in a press release issued on Monday by the apex bank, stating that the action was taken in line with Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020 and Section 7.3 of the Revised Guidelines for Mortgage Banks in Nigeria. According to the CBN, the move forms part of broader efforts to sanitise, reposition and…

An Ogun State chieftain of the Peoples Democratic Party (PDP), Segun Showunmi, has criticised politicians who describe investigations or prosecutions by anti-graft agencies as persecution simply because they belong to opposition parties, warning that such narratives undermine accountability and the rule of law. In a statement issued on Monday, Showunmi said Nigeria’s democracy is not under threat because public officials are being investigated, but rather because some political actors are attempting to weaponise opposition status as immunity from the law. According to him, opposition politics does not confer a licence to steal or serve as a shield against accountability. He…

The Federal Government has commenced construction of the N47 billion Jakara–Wuju–Wuju road and sewage project in Kano metropolis, a major infrastructure initiative aimed at controlling erosion and stimulating economic activities across key parts of the city. The project, which cuts across Gwale, Kano Municipal, Dala and Fagge Local Government Areas, is expected to significantly improve urban mobility, sanitation and environmental management upon completion. Speaking on Tuesday, the Minister of State for Housing and Urban Development, Yusuf Ata, said the Federal Government took over the project at the request of the Kano State Government in order to ensure its timely completion.…

The Chief Digital Officer of Lotus Bank, Akinlabi Adegoke, has cautioned that Nigeria’s newly signed tax cooperation agreement with France must be implemented carefully to safeguard the country’s data sovereignty and strengthen its domestic tax systems. Adegoke made the remarks amid growing public debate over the Memorandum of Understanding (MoU) recently signed between the Federal Inland Revenue Service (FIRS) and France’s Directorate General of Public Finances. The agreement is aimed at enhancing Nigeria’s tax administration through digital innovation, capacity building and improved cross-border cooperation. Speaking on Monday, Adegoke said international partnerships in tax administration have become increasingly common as governments…

Former Vice-President Yemi Osinbajo on Monday inaugurated a 250-bed Modupe and Folorunso Alakija Medical Research and Training Hospital in Osogbo, Osun State, describing the facility as a landmark investment in Nigeria’s healthcare and medical education sectors. The state-of-the-art hospital, donated by philanthropist and Chancellor of Osun State University (UNIOSUN), Dr Folorunso Alakija, was formally handed over to the university to enhance medical training, research and quality healthcare delivery. Speaking at the inauguration, Osinbajo said the hospital occupies a “rare and vital space” in Nigeria’s health ecosystem, serving simultaneously as a centre for learning, research, innovation and patient care. He noted…