Business

“I’m resting … ” Dangote replies Otedola’s Invitation to Invest in Eko Atlantic City”

“Maybe soon, not now I’m resting right now. Having delivered the refinery, I need some rest, but I’ll come; I’ll be here very soon. “

Published

1 year ago

March 5, 2025

OCHEFA

449 Views

“I’m resting after delivering the $20 billion Dangote Petroleum Refinery.”

Alhaji Aliko Dangote stated the above words today in response to Mr Femi Otedola’s invitation to come and invest in Eko Atlantic City.

Speaking during the groundbreaking ceremony of the 43-storey building new First Bank Head Office at Eko Atlantic City in Lagos, Dangote said that he’s now resting after delivering the project.

“Maybe soon, not now I’m resting right now. Having delivered the refinery, I need some rest, but I’ll come; I’ll be here very soon. “

So I want to congratulate you (Otedola) and the entire board and management of First Bank for taking this bold move of building a massive edifice in the new City of Lagos,” he said.

He said that the Eko Atlantic has become the new City of Lagos and with FirstBank joining the list of corporate entities in the emerging industrial city, more banks would come in.

The groundbreaking is attended by Vice-President Kashim Shettima, Governors of Lagos, Ogun, and Ondo – Babajide Sanwo-Olu, Dapo Abiodun, and Lucky Aiyedatiwa, respectively.

Others are Deputy Governor of Lagos State, Dr. Femi Hamza; former Senate President, Dr. Bukola Saraki; former Governor of Delta State, James Ibori, among others.

Other billionaires and CEOs in attendance included the CEO of Pacific Holdings, Dr. Deji Adeleke; CEO of Sapetro, Senator Daisy Danjuma; Ambassador Gilbert Chagoury; Alhaji Mustapha Indimi, among others.

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Business

Naira Exchange Rates Friday, 3 July 2026

Published

15 hours ago

July 3, 2026

OCHEFA

22 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 397 Sell ₦1,405

GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865

EURO (EUR) Buy ₦1, 580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦180 Sell ₦200

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460

CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,370.15

GREAT BRITISH POUND (GBP) ₦1,832.17

EURO (EUR) ₦1,568.28

SWISS FRANC (CHF) ₦1,1705.44

JAPANESE YEN (JPN) ₦8. 51

CHINESE YUAN (CNY) ₦201. 80

WEST AFRICAN CFA (XOF) ₦2.38

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,859. 98

SAUDI RIYAL (SAR) ₦364.91

SOUTH AFRICAN RAND (ZAR) ₦84. 32

Business

Issue: Cloning Nigerian Investment Promotion Commission (NIPC)

Published

2 days ago

July 2, 2026

OCHEFA

45 Views

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.

The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.

The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.

The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.

The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.

Current status

The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.

As the case is pending before the court, the allegations remain subject to judicial determination.