The Digest:
In a dramatic escalation of a corporate-regulator feud, specific names and institutions are now at the centre of a multi-million dollar allegation. Billionaire Aliko Dangote has detailed his claim that NMDPRA CEO Farouk Ahmed spent over $5 million on his four children's secondary education at elite Swiss schools, questioning the source of the funds.
Key Points:
- Aliko Dangote released specific allegations that NMDPRA CEO Farouk Ahmed spent over $5 million on his children's Swiss secondary education.
- The named children and schools include Faisal at Montreux School, Farouk Jr. at Aiglon College, Ashraf at Institut Le Rosey, and Farhana at La Garenne International School.
- Dangote claimed an additional $2 million was spent on their tertiary education over four years.
- He specified $210,000 was spent in 2025 for Faisal's Harvard MBA programme.
- The businessman questioned how a public servant could afford such expenditures, citing a potential conflict of interest.
- Dangote has called for a probe by the Code of Conduct Bureau and threatened legal action to obtain payment records from the schools.
- The NMDPRA has not yet responded to these detailed allegations, which revive similar claims from July 2025.
Sources: Vanguard, Guardian
