• Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Intelligence
    • Policy Intelligence
    • Security Intelligence
    • Economic Intelligence
    • Fashion Intelligence
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • LBNN Blueprints
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Intelligence
    • Policy Intelligence
    • Security Intelligence
    • Economic Intelligence
    • Fashion Intelligence
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • LBNN Blueprints

Alleged corruption: Farouk moves to pay over N200bn bridging claims as ICPC confirms receipt of Dangote’s petition – EnviroNews

Simon Osuji by Simon Osuji
December 17, 2025
in Technology
0
Alleged corruption: Farouk moves to pay over N200bn bridging claims as ICPC confirms receipt of Dangote’s petition – EnviroNews
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

– Advertisement –

The Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk, is facing intensifying scrutiny following moves to pay more than N200 billion in outstanding bridging claims to oil marketers, even as the President of Dangote Group, Aliko Dangote, has formally petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over alleged corruption and abuse of office.

Industry sources say the planned payment of the claims, which reportedly cover legacy obligations for 2023, 2024 and 2025, has raised serious concerns among economists and sector analysts, particularly over the absence of verifiable data to justify a significant portion of the claims.

Aliko DangoteAliko Dangote
Aliko Dangote

Bridging claims are government payments made to oil marketers to compensate for the cost of transporting petroleum products from depots to various parts of the country, enabling uniform pump prices nationwide. Industry analysts note that this benefit was rarely enjoyed by Nigerians as petroleum products are sold at higher rate in most parts of the country.

“In several instances, marketers submit bridging claims that do not correspond with the levies paid per litre, with discrepancies of up to 47 per cent. The current move to settle approximately N250 billion in legacy bridging claims, despite the regulator’s inability to provide empirical data to substantiate as much as 47 per cent of those claims against verified levies paid by depot owners and importers, strongly suggests the presence of irregular and potentially sinister practices.

“It is therefore imperative for the Auditor-General of the Federation to immediately halt the processing of all bridging claims until a comprehensive investigation and forensic audit are conducted to ensure that claims approved by the regulator accurately align with levies paid per litre,” a senior industry source said.

The developments come amid a corruption petition filed by Dangote to the ICPC, alleging abuse of office, corrupt enrichment and unlawful diversion of public funds by the NMDPRA chief.

In the petition dated Tuesday and submitted through his lawyer, Ogwu Onoja, SAN, Dangote urged the ICPC to arrest, investigate and prosecute Farouk for allegedly living far beyond his legitimate means as a public servant.

Meanwhile, the ICPC has confirmed receipt of the petition and assured the public that it will be investigated.

The Commission’s spokesperson, John Okor Odey, acknowledged the petition in a statement.

“The Independent Corrupt Practices and Other Related Offences Commission (ICPC) writes to confirm that it received a formal petition today, Tuesday, December 16, 2025, from Alhaji Aliko Dangote through his lawyer. The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated,” he said.

Source link

Related posts

Sustainability, climate action must be embedded across all sectors, says Onuigbo – EnviroNews

Sustainability, climate action must be embedded across all sectors, says Onuigbo – EnviroNews

February 8, 2026
Stakeholders advocate innovative recycling to tackle waste in Kaduna – EnviroNews

Stakeholders advocate innovative recycling to tackle waste in Kaduna – EnviroNews

February 8, 2026
Previous Post

Marginalized Voices Could Hold Key to Defeating Boko Haram

Next Post

AWS CEO Matt Garman Doesn’t Think AI Should Replace Junior Devs

Next Post
AWS CEO Matt Garman Doesn’t Think AI Should Replace Junior Devs

AWS CEO Matt Garman Doesn’t Think AI Should Replace Junior Devs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Flexport taps Shopify for cash, behind the wheel of the Kia EV9 and where Amazon wants to invest

Flexport taps Shopify for cash, behind the wheel of the Kia EV9 and where Amazon wants to invest

2 years ago
Jackson State to bring back longtime championship golf program

Jackson State to bring back longtime championship golf program

3 years ago
Opposed to Data Centers? The Working Families Party Wants You to Run for Office

Opposed to Data Centers? The Working Families Party Wants You to Run for Office

2 months ago
Pre-Departure Orientation for 26 BSN Nurses Heading to USA

Pre-Departure Orientation for 26 BSN Nurses Heading to USA

6 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Global ranking of Top 5 smartphone brands in Q3, 2024

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0

Get strategic intelligence you won’t find anywhere else. Subscribe to the Limitless Beliefs Newsletter for monthly insights on overlooked business opportunities across Africa.

Subscription Form

© 2026 LBNN – All rights reserved.

Privacy Policy | About Us | Contact

Tiktok Youtube Telegram Instagram Linkedin X-twitter
No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • LBNN Blueprints
  • Quizzes
    • Enneagram quiz
  • Fashion Intelligence

© 2023 LBNN - All rights reserved.