Business
Dangote, NMDPRA CEO’s Feud: Ahmed disclaims Reaction in the News
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.
Business
Naira To Dollar, Pound ,Euro …Rates For Monday, October 12
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)
Business
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.
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.
Business
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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