Business

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

Published

8 months ago

December 17, 2025

465 Views

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.

Related Topics:Featured NMDPRA CEO Farouk Ahmed Disowns Circulating Statement on Dangote Allegations Welcomes Formal Probe

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Business

Cybercriminals cloning DStv, other brands to steal bank accounts across Africa

According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.

Published

3 days ago

August 21, 2026

OCHEFA

31 Views

Cybercriminals are impersonating popular companies and government agencies across Africa in a campaign designed to take over smartphones and bank accounts.

More than 100 fake websites linked to the malware campaign have been identified since August 2025.

Brands including DStv, Takealot and South African Airways, as well as the South African Revenue Service (SARS), are being used to make fraudulent messages and websites appear legitimate.

The attacks are particularly concerning in South Africa, where Android dominates the mobile operating system market.

NordVPN said the attacks typically begin with social engineering, where criminals send convincing messages through SMS, WhatsApp or social media.

The messages may contain urgent offers or requests involving job opportunities, tax refunds, identity renewals or pension verification.

Victims are then directed to fake websites designed to closely resemble the official websites of trusted organisations.

The sites encourage users to download an Android application. Once installed, the malicious software can operate quietly in the background, including after the smartphone is restarted.

Business

Cement price hits N16,000 per bag

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

Published

3 days ago

August 21, 2026

OCHEFA

38 Views

• Chairman of BUA cement, Abdul Samad Rabiu (ASR)

Cement dealers across Nigeria have announced fresh price increases, with a 50kg bag now selling for as much as N16,000 in some markets, up from N13,000 recorded by buyers just days earlier.

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

By the third quarter of 2025, that had risen to about N9,000 before reaching the N12,000 to N16,000 range now seen across different locations.

Other building materials have followed a similar upward path. Blocks have climbed from around N600 to N1,100 each.

Sand has gone from N165,000 to N250,000 per 30 tonnes. Granite has risen from N530,000 to N780,000 per 30 tonnes.

Reinforcing steel now costs N1.15 million per tonne, up from N850,000.