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Dangote, NMDPRA CEO’s Feud: Ahmed disclaims Reaction in the News

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Engr. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued a disclaimer distancing himself from a purported response circulating online regarding recent corruption allegations levelled against him by billionaire businessman Aliko Dangote.

In a statement titled “DISCLAIMER/CLARIFICATION” personally signed by Ahmed, he categorically denied authoring or authorising any prior public response to the claims.

He said: “My attention has been drawn to a purported response I was said to have made on the recent allegations against my person,” the statement read.

“I hereby state categorically that the so-called statement did not emanate from me.

“Ahmed acknowledged awareness of what he described as “wild and spurious allegations” targeting him and his family, which have sparked significant public attention. However, citing his role as regulator of a sensitive industry, he said he has deliberately avoided engaging in public exchanges or “brickbats.”

“Thankfully, the person behind the allegations has taken it to a formal investigative institution,” Ahmed noted. “I believe that would provide an opportunity to dispassionately distill the issues and to clear my name.

“The disclaimer comes amid escalating tensions in Nigeria’s petroleum sector. Dangote, president of Dangote Industries Limited, recently petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate Ahmed over claims of living beyond legitimate means, including alleged multi-million-dollar expenditures on his children’s education abroad.

The ICPC has confirmed receipt of the petition and stated it will be duly investigated.Ahmed’s statement signals his preference for the matter to be resolved through official channels rather than media debates.

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Naira To Dollar, Pound ,Euro …Rates For Monday, October 12

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Black Market (parallel market) Rates

₦1370DOLLAR (USD)

₦1825POUND (GBP)

₦1520 EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAEDIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

₦2300 CFA F.(XOF)

₦2200CFA F.(XAF)

₦850 AUSTRALIAN DOLLAR (AUD)

Official CBN Exchange Rates

DOLLAR (USD)₦1331.19

POUND (GBP)₦1759.16

EURO (EUR)₦1490.80

SWISS FRANC (CHF)₦1600.37CBN

JAPANESE YEN (JPN)₦8.41

CFA FRANC (XOF)₦2.27

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1800.11

CHINESE YUAN (CNY)₦198.91

SAUDI RIYAL (SAR)₦354.51

SOUTH AFRICAN RAND (ZAR)

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Kenyan Presidential hopeful threatens to stop Dangote refinery’s project if he wins 2027 election

The presidential hopeful argued that Kenya had capable businesspeople who could undertake the refinery project, adding that the country needed a facility capable of meeting its energy requirements.

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Kenyan presidential candidate, Patrick Osoi, has warned the President of Dangote Group, Aliko Dangote, against rushing the proposed construction of a 700,000-barrel-per-day refinery in Kenya, insisting that the Nigerian billionaire could be forced to leave the country if he becomes president in February 2027.

Osoi issued the warning in a video shared by AM Media, declaring that he would ensure Dangote returned to Nigeria after his inauguration.

“I want to tell Dangote, please, don’t hurry up to start the refinery, because by next year, February, the time I’m sworn in as the president of this country, you’ll be back going to Nigeria,” he said.

The presidential hopeful argued that Kenya had capable businesspeople who could undertake the refinery project, adding that the country needed a facility capable of meeting its energy requirements.

“Because we are asking a refinery which can do that job. We also have business people in this country who can do that job,” Osoi said.

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Juhel CEO-Dr Ifeanyi Okoye, Becomes MAN President

Before he was elected President, Dr. Okoye served the Association in various capacities, including as Chairman of the Enugu, Anambra and Ebonyi States Branches from 1998 to 2005, and as Vice President from 2006 to 2010.

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The Manufacturers Association of Nigeria (MAN) has elected Dr. Ifeanyi Eric Okoye, as its 12th President at its just-concluded 54th Annual General Meeting held on Wednesday, 7th October 2026 at the Lagos Oriental Hotel, Lagos.

He succeeds Otunba Francis Meshioye, OFR, who completed his four-year tenure.

Dr. Okoye is the Chief Executive Officer of Juhel Nigeria Limited, a wholly indigenous pharmaceutical manufacturing company headquartered in Enugu, Enugu State.

Ifeanyi Eric Okoye holds a Bachelor’s degree in Pharmacy from the University of Ife (now Obafemi Awolowo University) with a Bachelor’s degree in Pharmacy and an M.Sc. and PhD in Pharmaceutical Technology and Industrial Pharmacy from the University of Nigeria, Nsukka, graduating as the best student in his class.

He established JUHEL Nigeria Limited in 1987, a wholly indigenous pharmaceutical manufacturing company with headquarters in Enugu, Enugu State. In December 1989.

JUHEL moved to its permanent site in Emene, Enugu, in 2001 and expanded its facilities to include syrups and capsules. In 2010, JUHEL opened a major parenteral manufacturing facility in Awka, Anambra State.

He is a Fellow of the Pharmaceutical Society of Nigeria and an alumnus of Harvard Business School in Boston, USA.

He is also a Member of the National Institute (mni), having attended the National Institute for Policy and Strategic Studies in Kuru, Plateau State.

In 2012, he was conferred the national honour of Officer of the Order of the Federal Republic (OFR).

He has served on several committees, including the Ministerial Committee on the Establishment of World-Class Hospitals and Diagnostic Centers from 2013 to 2015; Member of the Governing Council of the Standard Organization of Nigeria (SON) – 2009 to 2022.

Before he was elected President, Dr. Okoye served the Association in various capacities, including as Chairman of the Enugu, Anambra and Ebonyi States Branches from 1998 to 2005, and as Vice President from 2006 to 2010.

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