Business
EFCC’s Forex Allocation Probes: Dangote Pledges Commitment To Economy
By Ohibaba
The Dangote Group has resolved to continue to play its key role in stimulating the domestic economy, “as a law-abiding and ethical corporate citizen.
This was in spite of “unwarranted embarrassment” officials of the Economic and Financial Crimes Commission (EFCC) caused them , last week.
In a statement, weekend, the company said : ” we remain committed to providing the EFCC with all necessary information and cooperation.
” We have already delivered the first batch of documents and are actively working to compile and submit the remaining documents, in good time, to aid their investigation.
“Our Group is a key contributor to the national GDP, the largest employer in the private sector, one of the largest groups listed on the Nigerian Exchange, and one of the highest taxpayers in the country.
We remain steadfast in our belief in Nigeria’s commitment to the rule of law and its dedication to fostering an environment conducive to investment and value creation for both local and foreign investors.”
In the statement, the company explained that it received a letter from the EFCC on December 6, 2023, requesting details of all the foreign exchange allocated to it by the Central Bank of Nigeria from 2014 to the present.
“We understand similar letters were sent to 51 other Groups of companies requesting for same information spanning the same period.
“We assured the EFCC of our commitment to providing the information and pledged to share documents in batches as we complete the compilation.
“On 4 January 2024, our team delivered the first batch of documents to the EFCC.
However, officials of the EFCC did not accept the documents; they insisted on visiting our offices to collect the same set of documents directly.
” Whilst our representatives were still at the EFCC’s office to deliver the documents, a team of their officials proceeded to visit our offices to demand the same documents in a manner that appeared designed to cause us unwarranted embarrassment.
” Worthy of note is the fact that the officials did not take any documents or files from our Head office during their visit as these were already in their office.
“We must emphasise that, to our knowledge, no accusations of wrongdoing have been made against any company within our Group. At present, we are only responding to a request for information to assist the EFCC with their ongoing investigation.”
Business
Following Lagos, FG moves to ban single-use plastics
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
The Federal Government has commenced the process to ban single-use plastics, inaugurating a committee to steer the policy.
Lagos government began fully enforcement ban on single-use plastics (SUPs), including styrofoam packs, plastic straws, disposable cups, plastic cutlery, and nylons less than 40 microns thick, on July 1, 2025.
The Office of the Secretary to the Government of the Federation (SGF) , yesterday , set up an Inter-Ministerial Committee on the Ban of Single-Use Plastics (SUPs).
Earlier, the Federal Executive Council (FEC) during its meeting on June 25, 2024, approved the ban , specifically targeting Polyethene Terephthalate (PET) bottles, styrofoam food packs, plastic shopping bags, sachet water packaging, and plastic straws.
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
He said: “The FEC decision was in line with the Federal Government’s efforts to tackle various health and environmental challenges, especially those caused by single-use plastic products and therefore, approved the ban in the country of polyethene terephthalate (PET) bottles, styrofoam, plastic bags, sachet water and straw, which has become an environmental sanitation challenge.”
Business
UBA commits $102m direct investments in Chad’s securities
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
•Oliver Alawuba, GMD UBA
United Bank for Africa (UBA) Plc has announced a $102 million direct investment in the State of Chad’s securities in an efforts to strengthen economic growth and financial inclusion across Africa.
The announcement was made by UBA Group Managing Director/Chief Executive Officer, Oliver Alawuba, during his keynote address at the UAE–Chad Trade and Investment Forum held on Monday, November 10, 2025, in Abu Dhabi, United Arab Emirates.
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
According to Alawuba, the $102 million investment underscored UBA’s confidence in Chad’s economic potential and demonstrates its long-term commitment to financing sustainable development on the continent.
“At UBA, our commitment is two-fold: we are both architects of national infrastructure and champions of grassroots financial inclusion,” he said. “Here in Chad, this is not a promise; it is a proven track record.”
Business
Dangote Fertiliser Limited Partners German’s Firm to License Four Urea Granulation Units
Commenting on the partnership, Nadja Haakansson, CEO of thyssenkrupp Uhde, said: “This partnership with Dangote Fertiliser Limited underscores our shared vision for sustainable industrial development and global food security.
Thyssenkrupp Uhde Fertilizer Technology (UFT), a subsidiary of thyssenkrupp Uhde, has entered into a strategic agreement with Dangote Fertiliser Limited (DFL) to license its advanced UFT Fluid Bed Granulation Technology for four new urea granulation units in Nigeria.
The agreement includes the provision of the technology license, a comprehensive Process Design Package (PDP), and the supply of proprietary equipment such as granulators and scrubbers.
Each of the four new units will have a nameplate capacity of 4,235 metric tons per day, significantly boosting DFL’s annual urea granule production from approximately 2.65 million tons to over 8 million tons.
These units will be constructed in Lekki, adjacent to DFL’s existing fertilizer complexes, which have been operating with UFT technology since 2021 and produce 3,850 metric tons per day each.
The new facilities will incorporate UFT’s energy-efficient scrubbing system, designed to minimize pressure drop while effectively controlling dust and ammonia emissions to meet stringent environmental standards.
Additionally, the plants will feature the Ammonia Convert Technology (ACT), which integrates ammonium sulfate byproducts into the urea granules, eliminating waste streams and offering logistical and commercial advantages.
Commenting on the partnership, Nadja Haakansson, CEO of thyssenkrupp Uhde, said: “This partnership with Dangote Fertiliser Limited underscores our shared vision for sustainable industrial development and global food security.
By deploying our proven UFT®️ Fluid Bed Granulation Technology, we are setting new standards in efficiency and environmental stewardship in fertilizer production. We are proud to support DFL in building resilient and future-ready value chains.”
In the same vein, President of Dangote Group, Aliko Dangote, said: “We are pleased to deepen our collaboration with thyssenkrupp Uhde Fertilizer Technology for the expansion of our fertilizer operations in Lekki.
This initiative reflects our commitment to agricultural self-sufficiency and industrial progress across Africa.
With UFT®️ technology, we are ensuring the production of high-quality urea fertilizer that meets global standards while reducing environmental impact.
This investment further positions Nigeria as a leading fertilizer producer.”
Dangote Fertiliser Limited is one of Africa’s largest fertilizer producers, committed to enhancing agricultural productivity and supporting food security across the continent while thyssenkrupp Uhde’s UFT®️ Fluid Bed Granulation Technology is recognized globally as one of the most advanced solutions for producing urea granules.
Currently, over 70% of the world’s urea granule output is produced using this technology, contributing significantly to global food supply while maintaining emissions well below regulatory limits.
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