The Nation Newspaper

Category: Featured

  • BREAKING: FG declares Dec 25, 26, Jan 1 public holidays

    BREAKING: FG declares Dec 25, 26, Jan 1 public holidays

     The Federal Government on Monday, declared Dec. 25; Dec. 26 and Jan. 1, 2026, as public holidays to mark the Christmas, Boxing Day and New Year celebrations.

    The Minister of Interior, Dr Olubunmi Tunji-Ojo, gave the announcement in a statement by Permanent Secretary, Ministry of Interior, Dr Magdalene Ajani, in Abuja.

    Tunji-Ojo extended warm seasons greetings to Christians in Nigeria and across the world, as well as to Nigerians generally.

    He urged christians to reflect on the virtues of love, peace, humility and sacrifices exemplified by the birth of Jesus Christ, describing the values as essential for national unity, tolerance and harmony.

    The minister also enjoined all Nigerians to use the festive season to pray for the peace, security and continued progress of the country, while supporting government efforts at national development and cohesion.

    “The Christmas season and the New Year presents an opportunity for Nigerians to strengthen the bonds of unity, show compassion to one another, and renew our collective commitment to nation-building,” he said.

    Tunji-Ojo also enjoined citizens to remain law-abiding, security conscious and moderate in their celebrations, while cooperating with security agencies to ensure a peaceful festive period.

    He wished all Nigerians a Merry Christmas and a prosperous New Year.

    (NAN)

  • 130 Niger pupils, teachers rescued

    130 Niger pupils, teachers rescued

    • No one left in captivity, says Idris
    • Abductees to be received by Bago

    The remaining 130 kidnapped pupils and teachers of St. Mary’s Catholic Primary and Secondary Schools, Papiri, in Agwara Local Government Area of Niger State, have regained freedom.

    They were rescued unhurt after a month in captivity.

    Official figures showed that 280 pupils and teachers were abducted on November 21.

    Of the number, 50 escaped, while the Federal Government, through non-kinetic means, secured the release of 100 on December 7.

    Security sources said the latest release took place on Saturday in a forest between Kwara and Niger states.

    Armoured Personnel Carriers (APCs) and vehicles from the Office of the National Security Adviser (ONSA) were seen conveying the abductees, comprising 115 pupils and 15 teachers, to Minna, the Niger State capital.

    Residents said some of the children were evacuated from the National Park, a forest reportedly used by terrorists.

    New Bussa residents also confirmed sighting white buses moving towards the Babana area on Saturday.

    Their release came as a surprise Christmas relief to anxious parents and school staff who had begun to lose hope.

    A senior security official, who spoke in confidence, said: “The freed abductees are on their way to Minna under heavy security, where they will be handed over to Governor Mohammed Umar Bago.

    “Everyone is relieved that the nightmare is over. The government has kept its promise to ensure the safe return of these innocent victims.

    Read Also: Niger pupils’ abduction: Bandits hike ransom to N200m

    “The National Security Adviser, Mallam Nuhu Ribadu, coordinated all agencies, leading to this success.”

    It’s a fitting end  of the year, says  information minister

    Minister of Information and National Orientation, Mohammed Idris, in a statement, said the rescue of the remaining 130 children and staff marks a fitting end to the year.

    “As it is, the Federal Government can confirm that all the abducted pupils of the Catholic School, Papiri, numbering 230, have been freed. Not a single pupil is left in captivity.

    “The just-released 130 pupils are being handed over to the Niger state government, after which they will be reunited with their families.

    “This courageous effort by our security forces reaffirms our nation’s resolve to protect its people.

    “The Federal Government empathises with the parents and guardians of the pupils for the agony the abduction has caused them, wishes them a pleasant family reunion, a good healing process, compliments of the season, and a Merry Christmas,” he said.

    Presidential Spokesman Sunday Dare on his verified X account, wrote: “Another 130 abducted Niger State pupils released, none left in captivity.”

    The post was accompanied by a photograph of smiling children and a woman.

    The Bishop of Kontagora Diocese and proprietor of the school, Most Rev. Bulus Dauwa Yohanna, also confirmed the release.

    He said Governor Umaru Bago called to inform him of the development.

    The bishop said the pupils and teachers were expected in Minna today.

    Niger State Police Public Relations Officer, Wasiu Abiodun, confirmed the release of 130 pupils and teachers, adding that further details would be communicated.

    Sources said intensive negotiations preceded the release, noting that talks began on Thursday night.

    Chief Press Secretary to Governor Bago, Bologi Ibrahim, said relevant information would be made public.

    Ogun State Governor Dapo Abiodun said the development showed that evil would not prevail over Nigeria.

    He described the release as heartwarming, noting that the victims would now celebrate the Yuletide with their families after a traumatic ordeal.

    Abiodun said the rescue fulfilled President Bola Ahmed Tinubu’s pledge to ensure their safe return and urged security agencies to prosecute those responsible.

    He commended the President for security measures nationwide, saying the sustained release of abductees was restoring public confidence.

    Abiodun cited the rescue of 24 abductees in Kebbi State, 100 students from a Catholic school in Niger State, and Christian worshippers abducted in Eruku, Kwara State, as evidence of the administration’s resolve to tackle insecurity.

    A report by The New Humanitarian said: “Since January 2023, at least 816 pupils have been taken in 22 school attacks, part of a broader multi-million-dollar kidnapping industry terrorising Nigeria.”

  • Dangote Refinery, MRS launch nationwide PMS sales at N739 per litre

    Dangote Refinery, MRS launch nationwide PMS sales at N739 per litre

    • Refinery warns against artificial scarcity
    • ‘Report MRS stations selling above N739’
    • Marketers flock to refinery over lower prices
    • Reduced minimum purchase volume drives demand

    Dangote Petroleum Refinery has b begun a nationwide sales of Premium Motor Spirit (PMS) at a pump price of N739 per litre.

    The sales will be available at all MRS Oil Nigeria Plc filling stations across the country.

    The move represents a significant milestone in the refinery’s mission to deliver affordable fuel to Nigerians and stabilise the downstream petroleum market.

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

    In a statement by its management, the refinery praised marketers that have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.

    “We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.

    Due to the scarcity of products during festive periods, the Dangote Refinery has delivered a decisive market intervention by crashing pump prices at a time Nigerians typically brace for hardship.

    This initiative, backed by a guaranteed daily supply of 50 million litres, fundamentally alters the supply dynamics during the holiday period.

    Besides, industry watchers believe that by refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilising the naira and strengthening energy security. This sustained price cut and steady supply are providing relief to households, businesses and transport operators nationwide.

    The refinery has also warned against attempts by those it called unscrupulous operators to create artificial scarcity in response to the price reduction.

    It urged government agencies to act decisively.

    “Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.

    The refinery urged consumers to resist the temptation of buying fuel at inflated prices when cheaper, high-quality alternatives are readily available.

    Read Also: Dangote Refinery saves Nigeria ₦10bn annually — Esan

    “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. Report any MRS station selling above N739 per litre by calling 08001235264.

    “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,” the refinery added.

    Dangote Petroleum Refinery reaffirmed its commitment to steady supply, price moderation, and energy security.

    Its management emphasised that its operations are anchored on long-term national interest rather than short-term market pressures.

    “Our objective remains clear: to ensure a consistent supply of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on imports,” the refinery added.

    Also, Dangote Refinery has become the hub of fuel distribution in Nigeria.

    This followed bold strategic adjustments aimed at making energy more affordable and accessible to consumers.

    The refinery recently announced a significant reduction in the pump price of Premium Motor Spirit (PMS) or petrol to ₦699 per litre, alongside a drastic cut in the minimum purchase requirement from 2 million litres to 250,000 litres.

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

    These measures, industry sources said, underscore Dangote Refinery’s commitment to stabilising supply, fostering inclusivity and supporting national economic growth.

    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.

    Speaking on the development, the President of Dangote Group, Aliko Dangote, said: “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.”

    The inclusive approach opens the market to smaller operators, thereby strengthening distribution networks and improving fuel availability nationwide.

    By lowering barriers to entry, Dangote Refinery is believed to be driving competition and ensuring Nigerians benefit from a more stable and affordable fuel supply chain.

    Addressing reporters last week, Dangote reaffirmed his commitment to ensuring that Nigerians enjoy the benefits of domestic refining. The industrialist emphasised that the company was working tirelessly to ensure recent reductions at the gantry are reflected at retail outlets.

    He noted that the refinery project was driven by legacy rather than profit, revealing that he could have invested $20 billion elsewhere if financial gains were his sole objective.

    Last week, the Independent Petroleum Marketers Association of Nigeria (IPMAN) urged all its members nationwide to patronise the Dangote Refinery in their purchase of PMS products.

    The association said the refinery already offered the best affordable price for all marketers, even as free delivery is set to begin next month.

    It also expressed delight over a recent agreement by the Dangote Petroleum Refinery to begin the supply of Premium Motor Spirit (PMS) – also known as petroleum products – directly to registered IPMAN members, in a statement by the IPMAN National President, Alhaji Abubakar Maigandi.

    Maigandi said: “The association has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80 per cent of the PMS retail market. We, therefore, declare that there will be no gap or scarcity in PMS supply to Nigerians.”  

  • Foreign investors raise Nigerian stocks’ turnover to N10.54tr

    Foreign investors raise Nigerian stocks’ turnover to N10.54tr

    Turnover at the Nigerian stock market rode on the back of increased foreign inflows to a new record of N10.54 trillion as foreign portfolio investors (FPIs) showed improved tendency for long-term investments in Nigerian assets.

    Trading data at the Nigerian stock market reviewed yesterday showed that total transactions have more than doubled to N10.54 trillion over the past 11 months, driven by increased participation by foreign investors.

    The rate of participation by FPIs has increased by some 479 basis points with retained funds or surpluses from foreign transactions so far this year nearly half of their total transactions in the previous year.

    As against the previous trend where outflows were more than inflows, there has been a considerable increase in inflows compared to outflows under the new bullish sentiment.

    Nigerian equities closed weekend with average year-to-date return of 47.73 per cent after investors tickled a new rally that saw the market gaining N1.67 trillion last week.

    The capital gain of 47.73 per cent ranks among the five highest gains globally and represents net inflation-adjusted gain of 33.28 per cent. Nigeria’s inflation rate stands at 14.45 per cent. 

    With the traditional year-end rally expected to deepen this week, there are indications that total market value of Nigerian equities market would hit N100 trillion mark by the year-end. Aggregate market value of Nigerian equities rose from N95.26 trillion to N96.94 trillion last week.

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    The All Share Index (ASI)- the value-based common index that doubles as Nigeria’s sovereign equity index, closed weekend at 152,057.38 points, underlining the fact that an average investor in the Nigerian market has so far recorded capital gain of 47.73 per cent. It had opened the year at 102,926.40 points.

    A breakdown of the 11-month trading data showed that total turnover at the Nigerian Exchange (NGX) increased from N4.91 trillion by November 2024 to N10.54 trillion by November 2025.

    Total transactions by FPIs jumped by 178.8 per cent from N785.28 billion to N2.189 trillion. Foreign inflows had grown by 218.9 per cent from N370.15 billion to N1.18 trillion, while outflows were slower at 142.89 per cent from N415.13 billion to N1.001 trillion.

    The proportion of foreign to domestic participation shifted from the previous 15.98 per cent-84.02 per cent to 20.77 per cent—79.23 per cent, underscoring the stronger influence of FPIs.

    Nigerians across the broad spectrum continued to stake high on the overall economic outlook with total domestic transactions rising from N4.12 trillion to N8.35 trillion. Domestic retail investors’ turnover rose from N2.11 trillion to N3.22 trillion while domestic institutional investors traded N5.13 trillion in 2025 as against N2.02 trillion in 2024.

    Experts said foreign investors “were encouraged to stay longer” by the country’s improving macroeconomic outlook.

    Nigeria’s inflation rate has dropped consecutively for the past eight months to stand at 14.45 per cent. Gross Domestic Product (GDP) recorded its highest growth this year in the third quarter as sustained improvements in non-oil sector supported the economy to a 3.46 per cent growth. The naira closed weekend at N1,443.00 per dollar, sustaining a steadiness that has been the basis at the foreign exchange (forex) market. Gross forex reserves closed weekend at $45.21 billion.

    Citing increased inflows from FPIs, analysts at Cordros Capital said the “naira is anticipated to remain broadly stable” despite increased demand for forex.

    Group Managing Director, Nigerian Exchange Group (NGX Group) Plc, Mr. Temi Popoola said the market’s resilience could be traced to coordinated reforms by the government, which have rebuilt confidence in the country’s investment environment.

    According to him, government’s reforms have redefined Nigeria’s economic outlook and restored a degree of macroeconomic stability.

    Managing Director, GTI Capital Group, Mr Kehinde Hassan, said investors were responding to both fiscal and monetary outlooks and the corporate earnings of quoted companies.

    According to him, the bullish pricing trend is reflective of the collective assumption of investors on the prospects of the Nigerian economy.

    He said the government must sustain its reforms and provide greater clarity and momentum around fiscal policies to retain positive global sentiment. 

    Managing Director, AIICO Capital, Dr Femi Ademola, said Nigerian equities have become very attractive to both foreign and domestic investors.

    Managing Director, Arthur Steven Asset Management, Mr Olatunde Amolegbe, said the ongoing banking recapitalisation and the reforms in the oil sector have driven more investors to the market.

    Managing Director, HighCap Securities, Mr David Adonri, said the banking sector has contributed substantially to the growing turnover at the stock market.

    “The recapitalisation of banks is orchestrating demand for their shares even in the secondary market. Highly capitalised stocks in the petroleum sector have also been upbeat. Finally, investors have also reacted positively to the big interim dividends declared by banks,” Adonri said.

  • BREAKING: Police confirm release of remaining 130 Papiri students

    BREAKING: Police confirm release of remaining 130 Papiri students

    The Niger Police Command has confirmed the release of the remaining 130 abducted students and staff of St. Mary Catholic School, Papiri, in the Agwara Local Government Area of Niger.

    NAN reports that the Police Public Relations Officer in the state, SP Wasiu Abiodun, disclosed this in a statement made available to newsmen on Sunday in Minna.

    Abiodun said that the remaining batch of the victims was released on Sunday, bringing an end to the ordeal of the abducted students and staff of the school.

    He explained that a total of 130 victims, including staff members of the school, were released in the latest development.

    The police spokesman assured the public that further developments on the matter would be communicated as necessary.

    Read Also: Nwifuru approves N150,000 Christmas bonus for Ebonyi workers

    The News Agency of Nigeria (NAN) recalls that the students were abducted on Nov. 21, while the first batch of about 100 students was rescued on Dec. 8, following sustained security operations.

    NAN also recalls that Gov. Umar Bago had received the first batch of about 100 freed students through the office of the National Security Adviser, Mr Nuhu Ribadu.

    The governor commended the NSA and other security agencies for their gallant efforts, which led to the successful rescue mission. 

  • FG restores traffic flow on Abuja-Lokoja expressway after truck drivers’ standoff

    FG restores traffic flow on Abuja-Lokoja expressway after truck drivers’ standoff

    Normal traffic flow has been restored on the Abuja-Lokoja Expressway after a weekend disruption caused by a standoff between truck drivers and military personnel, the Federal Government has said.

    The Minister of Works, David Umahi, announced the restoration following hours of gridlock that left thousands of road users stranded along the corridor during the festive travel period.

    The disruption followed an incident in which a truck windscreen was reportedly smashed, prompting truck drivers to block a section of the highway in protest.

    The action led to severe traffic congestion, with vehicles unable to move freely towards Lokoja and other destinations, compounding travel hardship for commuters.

    In a statement on Sunday by the Director of Press and Public Relations of the Ministry of Works, Mohammed Ahmed, the Minister directed the immediate opening of completed sections of the expressway and approved the deployment of all necessary measures to restore traffic and ease the situation.

    The statement said the directive was implemented without delay, leading to the reopening of the affected stretch and gradual decongestion of the road.

    The Federal Controller of Works in Kogi State, Patiko Isah, confirmed that coordinated intervention by relevant agencies brought the situation under control in the early hours of Sunday.

    Read Also: FIRS fire contained as probe begins in Abuja office

    “The Field Headquarters, in collaboration with the Federal Road Safety Corps and other security agencies, restored the free flow of traffic at about 2:00 a.m. today,” he was quoted as saying.

    The Ministry said the action helped to clear the backlog of vehicles and restore normal movement along the expressway.

    Speaking on the development, Umahi appealed to motorists to exercise patience and caution, especially as traffic volumes increase during the holiday season.

    He urged road users to remain orderly and adhere to traffic regulations to prevent avoidable incidents, noting that cooperation between motorists and security agencies was critical to maintaining smooth movement on major highways.

    The Minister reassured Nigerians of the Federal Government’s commitment to providing safe, efficient, and reliable road transportation infrastructure across the country.

    He also conveyed goodwill messages to Nigerians, wishing them a peaceful, safe, and joyous festive celebration as travel activities peak nationwide.

  • JUST IN: Retired DIG Theophilus Akeredolu dies

    JUST IN: Retired DIG Theophilus Akeredolu dies

    …as NPF mourns

    The Deputy Inspector-General of Police (DIG), Theophilus Akeredolu is dead.

    Akeredolu died on December 9, 2025.

    A statement issued on Sunday by the Force Public Relations Officer, CSP, Benjamin Hundeyin said, “The Nigeria Police Force announces with deep sorrow the passing of a distinguished senior retired police officer and elder statesman, Deputy Inspector-General of Police, Chief Theophillus Adetunji Akeredolu, who passed to glory on 9th December, 2025

    “Born on 25th October, 1942, the late DIG Akeredolu devoted several decades of his life to the service of the Nigeria Police Force and the nation at large. He was enlisted into the Force on 1st September, 1969, initially serving as a civilian lecturer at the Police College, Ikeja, before converting to a General Duty Police Officer with the rank of Deputy Superintendent of Police (DSP) on 1st August, 1973.

    “An accomplished scholar and seasoned professional, DIG Akeredolu attended St. John Primary School, Afao, Ikere-Ekiti; Teacher Training Colleges in Epinmi, Akoko and Ifako, Lagos; and the University of Lagos, where he earned a Bachelor of Arts (Hons) in English and a Diploma in Education. He also obtained a Diploma in Law from the University of Ilorin and a Diploma in Journalism, among other professional qualifications.

    Read Also: How red tape hinders moves to secure Nigeria’s ageing population

    “Throughout his illustrious policing career, he held several strategic and leadership positions, including the Officer-in-Charge of Investigation at the Criminal Investigation Department (CID), Kwara State Command; Commissioner of Police, Benue State Command; Commandant, Detective College, Enugu; Assistant Inspector-General of Police in charge of Zone 6, Calabar; and Assistant Inspector-General of Police in charge of ‘B’ Department (Operations), Force Headquarters, Abuja. He was promoted to the rank of Deputy Inspector-General of Police on 1st January, 2001, serving as DIG in charge of ‘B’ Department (Operations), Force Headquarters, Abuja, until his retirement on 14th March, 2002.

    “The late DIG Akeredolu also benefitted from extensive local and international professional training, including courses at the Metropolitan Police College, Hendon, London; Middle Management Course at the Royal Institute of Public Administration, London; Intermediate Command Course at the Staff College, Jos; the Senior Command Course, Durham, Great Britain; and the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Jos.

    “In recognition of his exemplary service to the nation, he was honoured with several medals, including Commander of the Order of the Niger (CON). Beyond policing, he was a respected traditional and religious leader, serving as the Chief Aremo of Afao, Ikere-Ekiti, as well as holding notable titles within the African Church community in Abuja and Ekiti State. He is survived by his wife, Mrs. Yemi Akeredolu and children.

    “The Inspector-General of Police, IGP Kayode Adeolu Egbetokun, PhD, NPM, on behalf of officers and men of the Nigeria Police Force, extends heartfelt condolences to the family, friends, associates, and the good people of Ekiti State on the passing of the eminent officer. The Force mourns the loss of a dedicated professional whose legacy of service, leadership, and integrity will remain a source of inspiration to generations of police officers. May his soul rest in perfect peace.”

  • ICPC invites Dangote over $7m school fees claim against ex-NMDPRA boss

    ICPC invites Dangote over $7m school fees claim against ex-NMDPRA boss

    • 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.

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    “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.”

  • Twelve killed, two injured in Kogi crash as FRSC urges caution on highways

    Twelve killed, two injured in Kogi crash as FRSC urges caution on highways

    No fewer than twelve people died while two were injured in a road accident involving a passenger bus along the Ejule/ Enugu highway in Kogi State late Friday night.

    The accident involved an 18-seater Toyota Hiace Bus belonging to Romchi Mass Transit, which occurred around 11:30 p.m. at the Iboko community in Idah Local Government Area of the State.

    The Federal Road Safety Commission (FRSC), which confirmed the accident, said the bus was heading to the eastern part of the country from Abuja.

    The FRSC Sector Commander in Kogi, Tenimu Etuku, told reporters on Saturday in Lokoja that overspeeding led to the accident.

    “The bus was travelling from Abuja to the Eastern part of the country but rammed into a stationary faulty articulated vehicle due to overspeeding, he disclosed.

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    The sector commander said that the FRSC personnel, who carried out the rescue operation, rushed those injured to Mercy of Jesus Hospital, Ejule, for medical attention, while the dead were deposited in the morgue.

    Etuku, who expressed his condolences to the families of the deceased, reiterated the dangers inherent in excessive speeding and reckless overtaking by motorists.

    ” At this yuletide, motorists must be careful and adhere strictly to traffic rules and regulations to avoid such accidents and wastage of precious lives.

    “I believe this is one way to help the FRSC and the Federal Government reduce the alarming rate of road traffic crashes and fatalities in the country.

    “I hereby urge drivers to exercise patience and maintain safe driving practices, especially during long-distance journeys during this yuletide.

  • CBN asks banks to configure ATMs, POS terminals for foreign card transactions

    CBN asks banks to configure ATMs, POS terminals for foreign card transactions

    The Central Bank of Nigeria (CBN) has directed banks and non-bank acquirers to implement multi-factor authentication for foreign card transactions exceeding $200 per day, as part of new measures to strengthen security and improve user experience for international cardholders in the country.

    The directive was contained in a circular dated December 18, 2025, signed by the CBN’s Director of Financial Policy and Regulation, Rita Sike. The apex bank further instructed financial institutions to apply the same authentication requirements to transactions above $500 per week and $1,000 per month, and to ensure that point-of-sale (POS) terminals are properly configured for the use of foreign-issued cards.

     According to the CBN, the measures are aimed at ensuring uninterrupted and efficient local currency withdrawals, payments, and transfer services for users of foreign-issued payment cards across Nigeria, particularly tourists and Nigerians in the diaspora visiting the country.

    The regulator said the new framework is designed to improve access to funds, enhance transaction security, and boost overall user experience for foreign cardholders.

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    In addition, banks and non-bank acquirers were directed to configure all automated teller machines (ATMs), POS, and virtual terminals to accept international cards through Nigerian acquirers, comply fully with card association standards, and obtain the necessary certifications to enable seamless transaction processing. Institutions were also instructed to maintain high system availability to guarantee uninterrupted transaction processing.

    The circular reads: “In this regard, banks and non-bank acquirers shall: implement multi-factor authentication for all withdrawals and online transactions exceeding $200 per day, $500 per week, and $1,000 per month (or its equivalent),” the circular reads.

    “With respect to ATM cash withdrawal transactions, ensure compliance with approved cash withdrawal limits.

    “Clearly communicate the applicable exchange rate, which shall be market- driven and based on the prevailing official rate, as well as other associated charges to users. Transactions should only be completed after the user has accepted the terms (with evidence obtained).

    “Maintain sufficient liquidity position to settle transactions.

     “Settle transactions for the merchant in local currency (naira).

     “Implement transaction monitoring to detect unusual patterns in the use of foreign cards across all terminals.

    “Strengthen know-your-customer and anti-money laundering controls for merchants handling foreign card payments.

     “Require their merchants to ensure that all their copies of card-present transaction receipts are properly signed and to request valid identity documents where a transaction appears suspicious.”

     In addition, banks and non-bank acquirers were asked to report suspicious transactions to the Nigeria Financial Intelligence Unit (NFIU) and recalibrate fraud-monitoring systems to reduce false declines on legitimate transactions.

     The circular also said card acceptance devices must be equipped with contactless payment options for low-value transactions and that consumer complaints be resolved within approved timelines, warning that unresolved escalations to the apex bank would attract sanctions.

    “Furthermore, acquirers shall implement and maintain robust, auditable chargeback management processes aligned with applicable card-scheme rules and CBN guidelines (including but not limited to timely case intake, evidence collation, refund execution, and post-incident analytics),” the apex bank said.

     “Require, verify, and retain documentation (including terminal approval slip and signed merchant receipt, and item/service description) for card transactions for use in dispute resolution and chargebacks. The records shall be retained for a minimum of 12 months and be readily retrievable within 24 hours of request by the Acquirer or Scheme.

    “Provide quarterly training to their merchants and agent networks on dispute handling and chargeback processes.”

    The CBN said it will closely monitor compliance with the directive and impose appropriate sanctions on institutions found to be in breach.