Dangote and Farouk Ahmed.webp
The Digest:

Nigeria's anti-corruption agency has formally acknowledged a high-stakes corporate-regulator clash, setting the stage for a major probe. The Independent Corrupt Practices Commission has confirmed it received a petition from Aliko Dangote against NMDPRA CEO Farouk Ahmed and stated that the allegations "will be duly investigated."

Key Points:
  • The ICPC confirmed receiving Aliko Dangote’s petition against NMDPRA CEO Farouk Ahmed and pledged to investigate.
  • Dangote submitted the petition through his lawyer, SAN Ogwu Onoja, calling for Ahmed’s arrest and prosecution.
  • The petition alleges that Ahmed spent over $7 million on his four children’s education in Switzerland without lawful means.
  • It details specific amounts, including $5 million for secondary education and $2 million for tertiary studies.
  • Dangote accuses Ahmed of using his position to embezzle public funds, calling it economic sabotage.
  • The petition cites Section 19 of the ICPC Act, which carries a five-year jail term without fine for conviction.
  • The NMDPRA stated it has “no comment” on the allegations, and efforts to reach Ahmed were unsuccessful.
This formal legal escalation marks a pivotal turn in a dispute that has rocked Nigeria's downstream petroleum sector, placing a powerful regulator under the scrutiny of the nation's anti-graft body.

Sources: Premium Times, The Nation