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Publish Subsidy Panel Report, Unmask Real Thieves, Otedola Tasks Tinubu

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Billionaire businessman, Femi Otedola, has appealed to President Bola Tinubu to release the full report by the Aigboje Aig-Imoukhuede panel carried out under the Goodluck Jonathan administration on the controversial fuel subsidy regime.

Otedola said that Nigerians deserve to know the truth about those who looted public funds under the Petroleum Subsidy Fund (PFA) scheme, which lasted several years.

“I implore President Bola Ahmed Tinubu to release the full Aigboje Aig-Imoukhuede report on subsidy fraud as Nigerians deserve to know the truth. It is on record that the Presidency at the time called on the late Economic and Financial Crimes Commission (EFCC) Chairman, Ibrahim Lamorde, to halt the investigation. Let the report be made public so the real subsidy thieves can be unmasked,” Otedola said in a statement on Sunday.

Otedola made the appeal to Tinubu while reacting to an allegation by Umar Sani, a former Special Adviser (Media) to ex-Vice President Namadi Sambo, who said that at the peak of the subsidy regime, Otedola, through his company, Zenon Petroleum and Gas Ltd, benefitted from the scam he’s now criticising.

Sani claimed that he has empirical evidence showing that Otedola controlled as much as 90 per cent of diesel imports, and up to 40 per cent of other products at the time. “The same system he now condemns was one in which he was deeply entrenched and from which he personally benefited immensely.”

Yet, Otedola said he has instructed his lawyers to file a N1 billion lawsuit against Sani for defaming him, maintaining that he only sold diesel, which had no subsidy at the time he controlled the market in Nigeria.

“My attention has been drawn to a mischievous and malicious publication written by one Umar Sani, a former Special Adviser (Media) to former Vice President Namadi Sambo, attempting to twist facts and drag my name into disrepute and allegations of complicity in the subsidy fraud.  His insinuations are false, baseless, and a shameless attempt to pander to lies and rewrite history. Let me set the record straight for the overall benefit of the discerning public.

“Zenon Petroleum and Gas Limited was wholly an importer and trader of diesel with a market share in excess of 90 per cent, never traded in Premium Motor Spirit (PMS) and as such could not have claimed for subsidy under the Petroleum Subsidy Fund scheme.

Diesel had been long deregulated even before the adoption of the PSF and did not fall under petroleum products to be claimed under the PSF regime.

“PMS was the only product that was eligible for claim under the PSF scheme in a bid by the government to make the product available and affordable to all and sundry. It is therefore shocking that someone like Umar Sani who occupied a position of authority and responsibility could display such ignorance of basic industry facts in public.

“I view this as either mischief (and taking advantage of the uneducated public) or a blatant display of gross ineptitude. If diesel did not fall under the subsidy regime, how can Umar Sani then accuse Zenon Petroleum and Gas Limited of impropriety under the subsidy regime?” Otedola asked.

Writing on the process that led to the exposure of the subsidy fraud, Otedola stated that he was indeed a member of President Goodluck Jonathan’s Economic Team and was the one who first alerted the President of the monumental fraud being perpetrated by economic saboteurs under the PSF scheme.

“When he (Jonathan) called the then Minister of Petroleum, she denied it. With my strong determination to stop the economic malaise and bleeding, I called Senator Bukola Saraki and reported the fraud to him. He took it to the floor of the Senate, and from there the House of Representatives began its investigation.

“These statesmen are alive and my assertions above can be corroborated if necessary. If I was complicit in subsidy theft, would I be the one to raise the alarm and blow the whistle on myself? That alone should question the motive of Umar Sani for his most recent publication on this matter,” he pointed out.

When it became public industry knowledge that he (Otedola) was the whistleblower on the subsidy fraud, he said that some of the perpetrators decided to fight back by using the House Committee on the probe, headed by Farouk Lawan who tried to indict him without any basis.

“As they always say, it’s only natural for corruption to fight back. The House Committee on the subsidy probe was now being manipulated by the subsidy fraudsters and thereby turning the probe panel into an extortion racket. When the harassment and blackmail became incessant on my person, I petitioned the authorities and worked with the Department of State Security (DSS) in a sting operation.

“The money was provided by the DSS, duly marked, and handed over to me under security surveillance. I then gave it to Farouk Lawan in line with the sting operation. That is on record. To twist that carefully documented operation into an indictment against me is laughable and only exposes the ignorance of Mr. Sani. You may be aware that Hon. Lawan was subsequently convicted and sentenced to five years imprisonment for bribery. The facts are very clear and public,” he added.

On the allegations and insinuations about his Asset Management Corporation of Nigeria (AMCON) involvement, Otedola described it as a demonstration of mischief and ineptitude on the part of Sani.

He wondered why someone would twist publicly available information to ‘miseducate’ the populace, highlighting that he had never hidden the fact that he (Otedola) suffered financial losses from the global economic meltdown of 2008 resulting in a huge debt exposure to the Nigerian financial services industry.

The loans, he said, were sold to AMCON, after which he (Otedola) in turn gave up his assets worth hundreds of billions of Naira to settle his obligations under a court-ordered settlement.

“It is on record that AMCON itself publicly commended my approach and told other debtors to follow my example. Court records are there for anyone seeking the truth to investigate. AMCON officials from that time are also alive today to confirm the truth. I even addressed this matter in my book, ‘Making it Big’ which was recently published and released to the public,” Otedola said.

The businessman, therefore, vowed that he would not allow anyone to toy with his hard-earned reputation, announcing his decision to sue the former presidential aide over the alleged defamatory remarks.

“Because of these deliberate lies and unfounded allegations, I have instructed my lawyers to file a N1billion libel suit against Umar Sani. People must learn that reputations are not to be toyed with for cheap propaganda and to serve as a deterrent for other mischief makers in the future. I will go to every extent that this is achieved.

“To Mr. Sani and others who peddle these half-baked stories: go and read my book Making It Big, study the facts, and stop disgracing yourselves with ignorance. I have nothing to hide and I have always acted in the interest of truth and accountability. Those who benefitted from subsidy fraud know themselves. I will not sit back and allow falsehood to be written into history,” he maintained.

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I’m Ready for Probe, NMDPRA Boss Farouk Ahmed Responds to Dangote’s Corruption Allegation

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The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has responded to recent claims regarding the financing of his children’s education and his integrity in office, insisting that the allegations are misleading and ill-timed.

Ahmed said the allegations “necessitated this response, not because I fear scrutiny of my finances, which I welcome, but because the timing and nature of these claims demand context that only three decades of public service can provide.”

Ahmed highlighted his career in Nigeria’s petroleum sector, which began in 1991, noting that he rose through merit rather than political patronage.

He recalled his experience across technical divisions, crude oil marketing, gas supply monitoring, and downstream operations, stressing that his decisions have always been guided by Nigeria’s national interest.

“I spent my formative years in the technical divisions, where decisions are measured not by political expediency but by engineering precision and market realities,” he said.

He further outlined his rise to General Manager of the Crude Oil Marketing Division in 2012 and later Deputy Director in 2015, before being appointed NMDPRA Chief Executive in 2021.

On assuming the role, Ahmed said, he understood the challenges of implementing reforms under the Petroleum Industry Act, acknowledging that enforcing transparency in a sector long characterised by opacity would inevitably meet resistance.

Addressing the allegations about his children’s education, Ahmed said the claim that he spent $5 million on their Swiss schooling was misleading. “Three of my four children received substantial merit-based scholarships ranging from 40% to 65% of tuition costs, verifiable information are available to any authorised investigation,” he said, adding that contributions from his late father, a Northern Nigerian businessman, further supported the education costs.

He added: “When scholarships, family contributions, and my own savings accumulated over three decades are properly accounted for, my personal financial obligation was entirely consistent with someone of my professional standing and length of service.”

Ahmed confirmed that his annual compensation of approximately N48 million, including allowances, is publicly documented, and that he has submitted detailed asset declarations to the Code of Conduct Bureau throughout his career.

The CEO also linked the timing of the allegations to recent regulatory actions taken by NMDPRA.

“These allegations resurface precisely when NMDPRA has enforced quality standards revealing substandard petroleum products in the market, implemented stricter licensing requirements, and insisted on transparent pricing mechanisms that eliminate opacity benefiting certain market players. This timing is not coincidental,” Ahmed said.

He defended the authority’s import licensing decisions, emphasizing that they comply with Section 7 of the Petroleum Industry Act, which mandates supply security and prevention of scarcity.

“Granting import licenses when domestic supply proves insufficient is not sabotage, it is our legal duty,” he said.

Ahmed invited formal investigations into his finances and tenure, stating: “I formally and publicly request the Code of Conduct Bureau to conduct comprehensive review of all my asset declarations since 1991, the Economic and Financial Crimes Commission to examine all my financial transactions and sources of income, and the National Assembly to exercise its oversight function regarding any allegations of regulatory compromise during my tenure. I will cooperate fully, provide all documentation, and answer all questions under oath if required.”

Concluding, Ahmed reaffirmed his commitment to regulatory independence and transparency.

“Three decades of service to Nigeria’s petroleum sector have taught me that integrity is tested not in comfortable moments but when powerful interests demand compromise. My response is simple: investigate thoroughly, examine every claim, scrutinize every transaction. My record both financial and professional will withstand any legitimate inquiry.”

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No Court Order Against Tinted Glass Permit Enforcement, Police Insist

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The Nigeria Police Force (NPF) has argued that no court restrained it from enforcing the tinted glass permit regulation, maintaining that the directive remains valid until a competent judicial pronouncement rules otherwise.

Force Public Relations Officer (FPRO), CSP Benjamin Hundeyin, made the clarification while addressing journalists during the presentation of criminal suspects arrested by operatives of the Intelligence Response Team.

He stated that the police would continue enforcement of the tinted glass permit order, stressing that there had been no judicial directive halting the exercise.

Hundeyin explained that criminal groups had exploited previous pauses in enforcement to commit violent crimes, including kidnapping and armed attacks.

He cited a recent incident in Edo State where a Lexus SUV with tinted windows allegedly refused to stop at a checkpoint, leading to a pursuit during which its occupants opened fire on officers, killing a police inspector and injuring others.

He further clarified that the earlier suspension of enforcement announced by the Inspector-General of Police, Kayode Egbetokun, had been misinterpreted by sections of the public and professional bodies, including the Nigerian Bar Association (NBA).

“The Inspector-General of Police, out of respect and understanding, temporarily suspended enforcement to give Nigerians additional time to regularise their tinted glass permits.

That decision was not based on any court order but was a discretionary move to accommodate public concerns,” Hundeyin said.

Acknowledging that the matter is before the courts, Hundeyin noted that the legal process has been slow. He stressed that, pending any contrary ruling, the police would continue enforcement.

“The position remains that enforcement continues until a court directs otherwise. At no point did any court restrain the Nigeria Police Force or the Inspector-General of Police from implementing the tinted glass permit order,” he added.

Responding to reports that the NBA may initiate contempt proceedings against the Inspector-General over the renewed enforcement, Hundeyin said the police legal department would address any action if it arises.

He reiterated that enforcement of the tinted glass permit was necessary for public safety, particularly in curbing crimes committed with vehicles whose occupants are concealed.

The police position comes amid growing debate between the Force and the Nigerian Bar Association (NBA), which has argued that the policy is unconstitutional and currently subject to litigation.

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Book Launch: Tinubu Vows to Sustain Buhari’s Legacies

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President Bola Tinubu has promised that his administration will continue to honour former President Muhammadu Buhari by sustaining his legacies of leadership, discipline and integrity.

The President made this pledge on Monday in Abuja at the State House Conference Centre during the unveiling and public presentation of the book From Soldier to Statesman: The Legacy of Muhammadu Buhari, written by Dr. Charles Omole.

According to President Tinubu, in a statement by his media aide, Bayo Onanuga, the book gives Nigerians a chance to learn from Buhari’s life and leadership, adding that the best way to honour him is to keep his legacies alive.

“This book reinforces the public memory. It outlines achievements and flaws, as all honest histories should. It should motivate future leaders to learn lessons rather than repeat slogans,” Tinubu said.

He added that Buhari’s legacy becomes more meaningful when those who succeed him choose to build on what he started.

“That is my duty, and I pledge that today,” the President stated.

President Tinubu also reflected on his long political relationship with the late former President, describing Buhari as a brother, friend and political partner. He recalled how they worked together to build a strong political coalition that changed Nigeria’s political history.

“Together, we built a broad coalition, campaigned across the country, and proved that Nigeria could chart a new course,” Tinubu said.

He noted that the coalition achieved a historic victory in 2015 by defeating an incumbent president and went on to become “the fastest-growing political party in Africa today.”

He stressed that working across differences is a strength, not a weakness. “Nation-building demands that we compete passionately and govern responsibly. President Buhari understood that the contest ends when the oath begins,” he said, urging Nigerians to keep politics honourable and governance focused on results.

The President also praised the author, Dr. Charles Omole, for producing the 600-page biography.

Katsina State governor, Dikko Umaru Radda, commended President Tinubu for standing by the Buhari family and the state, describing Buhari as a symbol of “discipline, prudence, patriotism and purposeful leadership.”

Dr Omole said the book chronicles Buhari’s life from birth to death, explaining that he interviewed people who witnessed both moments.

Several former service chiefs and security heads who served under Buhari testified to his discipline and integrity. NDLEA Chairman, Brig. Gen. Buba Marwa (Rtd), described Buhari as “a man of honour, a man of character, a man of integrity and a man of principle.”

Former Chief of Air Staff, Air Marshal Isiaka Amao, said Buhari was “not merely a Commander-in-Chief issuing orders but a statesman who understood that military powers must always serve democratic governance.”

Former DSS Director-General, Yusuf Magaji Bichi, said, “President Buhari will never rig an election,” while former Naval Chief, Vice Admiral Awwal Gambo (Rtd), noted that national security improved under Buhari through strong leadership.

Speaking on behalf of the family, Hadiza Nana Buhari thanked President Tinubu for his support, especially for completing the National Armed Forces PTSD Centre Project in Abuja.

She urged Nigerians to learn from her father’s legacy of patience and integrity.

The event was attended by President Adama Barrow of The Gambia, First Lady Oluremi Tinubu, several State governors, top government officials, traditional rulers, and members of the Buhari family.

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