News
Dangote Should Not Be Blamed For Buying Dollars At Lower Rates When He Was Building Refinery – Emir Sanusi
The 16th Emir of Kano, Muhammadu Sanusi II, has said that Alhaji Aliko Dangote should not be blamed for buying dollars at lower rates at the time he was building his refinery because that was the actual rate the apex bank was selling to everybody at that time.
Sanusi, who commented on the issue through SOP Chat Group, initially said: “I honestly do not think it is a good idea for me to make comments on these issues, but some comments surprise me, and I just have to say something.”
The emir then went on to remark: “Aliko Dangote did not fix the price at which the CBN sold dollars. Everyone who got dollars from the CBN got dollars at the same rate if they bought on the same day. So we cannot blame him for buying dollars at a rate the CBN itself decided to sell to its customers.
“So the question for me is this. Let us forget the man Dangote. If the Central Bank were to prioritize a single enterprise for forex allocation, how many enterprises can we think of that are worthier than a refinery like this one?
“Consider the drain on our forex from importing petroleum products; the tens of billions of dollars of forex spent abroad; the huge losses due to theft in the name of subsidy.
“By the way, how much forex did Dangote buy from the CBN at this subsidized rate? How much forex did NNPC take from the federation account in the same year in the name of running and turning around its dead refineries? What are we benchmarking against?
“If any Nigerian came to me as a Central Bank Governor with a project like this refinery, I would recognize immediately its potential impact on the economy and give it all the support needed.
“Let our views on forex policies not becloud our sense of priorities. Once the CBN decided to sell dollars at the below market, it would be forced to ration the limited dollars available.”
“To my mind, giving dollars for the construction of a refinery is better than rice importers and, indeed, almost every other enterprise apart from education and health, given the impact on the macro.”
On the argument by NNPC that relying on one refinery is bad for our energy security, Muhammadu Sanusi II said: “This is most laughable. On the contrary, relying on a local refinery is far more secure than these imports.
“It is a very rich argument from an entity that had taken billions of dollars in the name of turnaround maintenance and not produced a drop of product from four refineries because it is more profitable to continue extracting rent in the name of subsidy. If NNPC activated its refineries, there would be no monopoly. Then, we can see the sulphur content of its products and compare them to Dangote’s.”
He said further: “Until then, keeping quiet is the honourable option for it, NNPC and its spinoffs have lost any right to talk until they fix the mess they have thrown us into.
“In any case, if the Dangote refinery is unable to meet local demand, the gap can be filled by imports, these people in NNPC do not want to end their lucrative subsidy scam, and I don’t think they will end it.
” But as a nation, if we do not thank Dangote for what he has done as an African to deal a hammer blow to multinationals and the rentier system and for structural change in this economy through value added in various sectors, we should not condemn him.
“Also, we tend to repeat stories without evidence. We hear about Dangote getting favourable taxation but no one has said what this tax is, if he got it alone or if it was offered to a sector or to pioneers, and if such a practice is in fact normal to encourage investment.”
The emir concluded thus: “Instead of killing Dangote, we should try and make more like him. Nigeria always kills its heroes and its best because of envy and pettiness.”
News
How 2018 Federal Legal Advice Exonerated Saraki In Offa Robbery Case
In light of the Kwara State Government’s fresh prosecution of Dr. Abubakar Bukola Saraki and his successor over the Offa robbery, fresh facts have emerged on why the Director of Public Prosecutions of the Federation, Mr. E. U. (Etsu Umar) Mohammed gave the duo a clean bill of health.
The Federal Director of Public Prosecutions cleared former Senate President Bukola Saraki of involvement in the Offa bank robbery in 2018, citing no evidence of a connection.
It was gathered that the DPP reviewed a 16-page police report prepared and signed by Abba Kyari, a Deputy Commissioner of Police and then head of the Inspector-General of Police Intelligence Response Team (IGP-IRT) at Force Headquarters, Abuja. The report detailed investigations into the April 5, 2018, multiple bank robbery attack in Offa, Kwara State.
The DPP in his first report dated June 22, 2018 and signed on behalf of the Attorney General of the Federation and Minister of Justice, prepared a five page legal advice in which he noted in paragraph 5 (f) that “for the Senate President (Saraki) and the Kwara State Governor (Ahmed), his office is unable to establish from the evidence in the interim report a nexus between the alleged offence and the suspects. Hence, it is our advice that further and thorough investigation in this regard be carried out”.
Following the submission of a second report by the police investigating team to his office on July 27, 2018, the DPP prepared a second legal advice, which was dated August 23, 2018. The three-page legal advice also has only three paragraphs.
In paragraph 3 (vi), he noted that “with regards to the Senate President, Senator Bukola Saraki, since there is no departure from the earlier findings in the interim report, this office is still unable to establish any prima facie case against him for any offences of criminal conspiracy, armed robbery, and culpable homicide punishable with death”.
Both legal advices had recommended six people for prosecution. They are: Ayoade Akinnibosun, Ibikunle Ogunleye, Adeola Ibrahim, Salawudeen Azeez, Niyi Ogundiran, and Michael Adiukwu.
One of the suspects, Michael Adiukwu, later died in police custody, while the other five had since been tried at the High Court in Ilorin.
During the trial, the suspects revealed how they were coerced into incriminating Senator Bukola Saraki.
They mentioned several inducements dangled before them, including money and the promise of a visa to travel out of the country.
The suspects have since been convicted and their convictions confirmed by the Court of Appeal. The matter is now pending before the apex court, the Supreme Court of Nigeria.
News
₦400m Ransom Demanded As Gunmen Abduct Another Kwara Ruler
Terrorists have abducted a traditional ruler in Olayinka community, located in the Ifelodun Local Government Area of Kwara State, Oba Salman Olátúnjí Aweda and are demanding a ₦400 million ransom for his release.
The abduction occurred on April 18, 2026, when armed men, suspected to be militia herdsmen, invaded the community and took the monarch, his wife, and another resident into the forest.
According to JomogNews, residents who witnessed the incident said the terrorists, numbering over 10, invaded the monarch’s residence around Saturday midnight, forced the door open, and abducted him alongside another person in the house.
The assailants reportedly led both victims into the bush.
Chairman of Ifelodun Local Government Area, Mr Abdulrasheed Femi Yusuf, visited the community on Saturday on a sympathy visit and assured residents that efforts were underway to secure the monarch’s release.
“We are deeply concerned about this incident, and we are taking swift and decisive action in collaboration with security agencies,” he said.
News
Living Faith Church Founder Declares Week Of Vengeance Against Insecurity Sponsors
Bishop David Oyedepo, General Overseer of Living Faith Church Worldwide, has declared that bandits and their sponsors will face divine judgment and retribution within seven days.
Speaking on Sunday, April 19, 2026, during a service themed “Covenant Day of Vengeance” at the church’s headquarters in Ota, Ogun State, the cleric stated that those responsible for killings and kidnappings would face imminent consequences.
“I declare judgement on those who caused these tragedies and their supporters in the name of Jesus,” he said.
The cleric further asserted that divine retribution would occur within a short timeframe.
“Unless I am not sent, this will happen in the next seven days,” he added.
Oyedepo also expressed confidence that Nigerians would soon witness outcomes of what he described as divine intervention, noting that the coming days would bring “testimonies of vengeance.”
-
News2 days agoEight Rescued Benue Kidnap Victims Officially Identified As JAMB Candidates
-
News2 days agoI’ll Unseat Bola Tinubu In Free, Fair Election — Dino Melaye
-
News1 day agoHow 2018 Federal Legal Advice Exonerated Saraki In Offa Robbery Case
-
News2 days agoFormer Kano Gov, Shekarau Abandons PDP, Officially Returns To APC Fold
-
News1 day agoBody Of Nigerian Citizen Found In United Kingdom Residence
-
News1 day agoFG Clarifies Reasons Behind FAAC Revenue Deductions
-
News1 day agoEl-Rufai Issues Public Alert Over Plot For Indefinite Detention
-
News1 day ago₦400m Ransom Demanded As Gunmen Abduct Another Kwara Ruler
