News

Dangote and Otedola: Industrial Giants Against Corruption

Published

6 months ago

December 16, 2025

Ochuwa Ibrahim

Dangote and Otedola: Industrial Giants Against Corruption

By Magnus Onyibe

Nigeria’s fight against corruption has received an unexpected boost from two of its most powerful industrialists—Aliko Dangote and Femi Otedola.

Otedola set a notable precedent when he exposed bribery involving former lawmaker Farouk Ahmed Lawal a member of the House of Representatives as he stuffed dollars under his cap while he was secretly being recorded by Otedola receiving the illicit funds.

More recently, Dangote has drawn attention to alleged corruption within Nigeria’s oil regulatory space by revealing that the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reportedly paid about $5 million in school fees for his children in Switzerland—an expense Dangote himself said would be difficult to afford, even as Africa’s richest man.

These revelations underscore a shared commitment by Dangote and Otedola to confronting corruption and profligacy, not only in the private sector but also within public institutions.

Beyond whistleblowing, both men have consistently criticised elite excesses. Otedola has condemned bank executives who fly private jets at shareholders’ expense, while Dangote has urged Nigeria’s wealthy to invest in productive industries rather than squander resources on luxury cars. Their stance is reinforced by extensive philanthropy, including the Dangote Foundation’s ₦100 billion education initiative, the Tony Elumelu Foundation’s $10 million annual support for African entrepreneurs, and Samad Rabiu’s financial support to his workers up to the tune of N30 billion. Mike Adenuga’s contributions to sports and the arts through his telecoms firm, Globacom are equally quite significant and noteworthy.

All over the world there are challenges of corruption in the public sector. Ranging from the United States of America, USA to the United Kingdom, UK, China, India as well and Saudi Arabia.
But corruption is not as entrenched in those climes as it is in Africa.

That is because in those advanced Western, Asian, and Middle Eastern countries, they have put in place effective checks and balances to prevent corruption and sanctions whenever it is exposed. That is not the case in Africa and indeed Nigeria where corruption has become cultural and President Bola Tinubu whom the opposition is accusing of not fighting corruption enough perhaps because he did not publicly announce that he has zero tolerance for corruption as his predecessor Muhammadu Buhari did and in reality that govt turned out to be one of the most corrupt in the annals of Nigeria.

The reality is that President Tinubu is quietly proving that his government is intolerant of corruption and is currently prosecuting both public officials from his predecessors’ administration and those found to be challenged corruption wise in his own cabinet.

Meanwhile, some media commentators have been alleging that the Economic and Financial Crimes Commission, EFCC is being biased by not arresting and detaining the NMPDRA, Chief Executive Officer immediately after the allegations were made.

While I have absolute confidence that Dangote would have solid evidence before alleging, the rule would be that the matter has to be investigated and Dangote has to tender his evidence before an arrest can be made. And that would be in the event the accused does not respond to an invitation to clear himself of the allegation. So, all those accusing the EFCC of being slack are jumping the gun as the investigative work needs to be carried out before arrest, otherwise the agency may be accused of jungle justice by the same people prodding or even stampeding into arresting the accused immediately.

The ex-Attorney General and Minister of Justice Abubakar Malami and Dr. Chris Ngige, a former Labor Minister who served in the immediate past regime are being cited as currently being under arrest for corruption, while the man accused by Dangote has not been arrested. Critics have to take note that the duo of Malami and Ngige have been out of office since 2023 which is over two and a half years ago and they were not brought to trial until a couple of weeks ago.

To be fair the EFCC and the Independent Corrupt Practices Commission, ICPC are doing their best in seeking to turn the tide of corruption in Nigeria but they are often handicapped by the bureaucracy.

However, should the private sector anti-corruption champions such as Dangote and Otedola be joined by Chief Mike Adenuga of Glo, Alh. Samad Rabiu of Bua, Tony Elumelu of Heirs Holdings, etc who deal with government officials regularly in the course of seeking licenses, access to proprietary information, assets, and other government services to fight corruption in the public sector, our country would likely record more success in its anti-graft agenda.

There are multiple cases of corruption in govt such as that of the ex-accountant general of the federation Musa Ahmed who was indicted for stealing N109 billion and the Pension Task Force czar, Abdulraman Abdrasheed who was also indicted for the embezzlement of the funds that he was supposed to have recovered on behalf of the government. But not one of them has been convicted how much more serving a long jail term as a House of Representatives member who Otedola captured red-handed receiving the bribe dollar. So, since his case was more or less a slam dunk one, there was no wiggle room.
We are all well aware of the consequences of corruption on society which can be calamitous. A bad road arising from acts of corruption between a public official who awarded the contract but was compromised by the contractor to lower quality and standards can result in the death of the innocent and unsuspecting road users. So, fighting corruption as Dangote and Otedola are doing is a good thing, they deserve accolades as the battle against graft should be emulated as it is everybody’s business.

In fact, Dangote’s clash with the NMDPRA also reflects the realities of corporate rivalry. In order to justify the continuous importation of finished petroleum products, the regulatory agency had previously questioned the capacity and quality of output from the Dangote Refinery. Those are claims that were later countered by independent assessments showing the refinery’s products meeting international standards and being exported to markets such as the United States and Saudi Arabia.

In political terms, Dangote’s disclosures resemble opposition research. But as a businessman rather than a politician, his actions can be seen as a forceful response to institutional hostility.

Ultimately, the broader lesson from the spat between Dangote and the NMDPRA boss in the context of corruption extends beyond Nigeria. The Western countries that host illicit funds from Africa often claim to support anti-corruption efforts, yet turn a blind eye government’s scandals erupt. Despite strict “Know Your Customer” rules, foreign banks, schools, and real estate markets continue to absorb questionable wealth without alerting source countries.

If foreign governments were truly committed to fighting corruption, they would proactively expose suspicious assets linked to public officials. Until then, their posture will remain one of moral posturing rather than genuine partnership.

Strikingly, Nigeria’s experience suggests that when influential industrialists join the anti-corruption battle, progress becomes more achievable. The challenge is whether global actors are willing to match that resolve.
We have certainly not heard the last of the Dangote and NMDPRA Chief Executive Officer’s face-off and my wish is that more industrialists would join in exposing corruption in the public sector and society in general and in the process free up funds hitherto being stolen by public officials.
Should the funds currently being squandered be used to provide the highly needed infrastructure that would create jobs, boost productivity, enable progress, and prosperity of the nation and society as a whole, Nigerians will be better off.

Magnus Onyibe, an entrepreneur, public policy analyst, author, democracy advocate, development strategist, and alumnus of the Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA, is a Commonwealth Institute scholar and a former commissioner in the Delta State government. He sent this piece from Lagos.

Dangote and Otedola: Industrial Giants Against Corruption

News

AMF Celebrate the African Child: Building Foundations for Dreams, Learning, and Leadership

Published

2 hours ago

June 16, 2026

Ochuwa Ibrahim

AMF Celebrate the African Child: Building Foundations for Dreams, Learning, and Leadership

By Comrade Philip Ikodor

The Ashlee Momoh Foundation today joined the global community to commemorate the International Day of the African Child, reaffirming its commitment to the safety, education, and empowerment of children across the continent.

In a statement issued to the media, the Founder and Lead, Princess Ashlee Omonegbo Momoh, said the Foundation stands firmly behind efforts to help every African child reach their full potential.

“While we celebrate the vibrancy, brilliance, and resilience of African children, we must also confront the systemic barriers that still limit their growth,” Princess Momoh stated.

Key Challenges Facing the African Child Today:

Education Gaps: Millions lack access to quality education, digital literacy, and inclusive learning environments.
Socio-Economic Barriers: Pervasive poverty drives child labor and denies many children basic healthcare, nutrition, and stable housing.
Security and Instability: Armed conflict and community violence continue to threaten the safety, mental health, and future of children in vulnerable and military-affected communities.

AMF’s Call to Action:
To truly empower the African child, stakeholders must shift from short-term relief to sustainable, localized investment. The Foundation calls on governments, civil society, and private sector partners to collaborate in:

Building safer, child-friendly communities
Subsidizing healthcare and expanding access to quality education, including digital skills
Creating inclusive learning spaces that protect children from conflict and displacement

“Every child deserves a secure foundation to dream, learn, and lead. At the Ashlee Momoh Foundation, we remain committed to building that foundation — together,” Princess Momoh added.

The Ashlee Momoh Foundation is a Nigeria-based nonprofit dedicated to advancing child welfare, education, and empowerment across Africa through sustainable programs, advocacy, and strategic partnerships.

AMF Celebrate the African Child: Building Foundations for Dreams, Learning, and Leadership

News

A New Dawn for Nigeria’s Power Sector: Minister Tegbe’s Brilliant Start

Published

8 hours ago

June 16, 2026

Ochuwa Ibrahim

A New Dawn for Nigeria’s Power Sector: Minister Tegbe’s Brilliant Start

By: Lateef O. AREMU

Just few days into his tenure, Nigeria’s new Minister of Power, Engineer Joseph Olasunkanmi Tegbe, has already begun to illuminate the path towards a more stable and efficient electricity supply for the nation. Sworn into office on June 9, 2026, Minister Tegbe’s initial pronouncements and decisive actions reflect a profound understanding of the sector’s complexities, a testament to his distinguished professional background, intellectual brilliance and clear demonstration of the understanding of the task ahead. The minister unlike many before him did not over simplify the task at hand. He acknowledged the challenges and meticulous outlined the approaches towards finding solutions to the problem. He is not promising immediate miracle, but steady growth and measurable efforts towards achieving the set goals.

Minister Tegbe arrives at the helm of the Power Ministry with an impressive pedigree. A former Senior Partner and Head of Technology Advisory Services and Markets at KPMG Professional Services in Nigeria and across Africa, he has a proven track record of leading major reform initiatives, developing robust governance structures, and navigating intricate regulatory frameworks. His extensive experience in advisory services, coupled with his qualifications as a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and a Fellow of the Chartered Institute of Taxation of Nigeria (FCIT), positions him uniquely to tackle the multifaceted challenges plaguing Nigeria’s power sector.

In his inaugural engagements, Minister Tegbe wasted no time in outlining a clear vision. He pledged to strengthen collaboration, improve governance, and enhance accountabilityacross the entire electricity value chain. This emphasis on systemic improvements, rather than solely technical fixes, directly mirrors his background in advisory and governance. His insight that
many of the sector’s challenges are rooted in governance and coordination rather than purely technical issues is a direct reflection of his strategic thinking honed at KPMG, where he led advisory services focused on governance and regulatory frameworks.

One of his immediate and commendable actions was to rally Chief Executive Officers and Heads of Agencies and Parastatals under the Federal Ministry of Power. During this crucial meeting, Minister Tegbe underscored the necessity of a unified and coordinated approach among all stakeholders to achieve the administration’s goals for the Power Sector. This call for synergy, urging stakeholders to operate as “one team with one mandate” is a pragmatic approach to a sector historically plagued by siloed operations and a lack of cohesive strategy. His ability to quickly identify and address this fundamental organizational challenge speaks volumes about his leadership and analytical prowess.

Furthermore, Minister Tegbe has already demonstrated a commitment to tangible results. He commended the Transmission Company of Nigeria (TCN) for its prompt response to a recent feeder outage, which was resolved within the timeframe he directed. This swift restoration of supply, which he noted was reported directly to President Bola Ahmed Tinubu, highlights his dedication to urgency and service delivery, a quality that will undoubtedly instill confidence in both the public and sector operators.

Looking ahead, the Minister disclosed plans to introduce a performance-based incentive framework across the power sector to reward productivity, innovation, and excellence. This initiative is a clear demonstration of his understanding of motivational strategies and his commitment to fostering a culture of accountability and efficiency. This is the kind of principles often championed in top-tier consulting firms like KPMG. Such a framework is designed to drive continuous improvement and ensure that all stakeholders are aligned with the overarching objective of enhancing electricity supply.

In just a few short days, Engineer Joseph Olasunkanmi Tegbe has not only articulated a clear vision for Nigeria’s power sector but has also initiated concrete steps towards its realization. His blend of deep technical understanding, strategic leadership, and a commitment to good governance, all honed through years of high-level advisory work, positions him as a transformative figure.

As Joseph Olasunkanmi Tegbe assumes the role of Nigeria’s minister of power, Nigerians can look forward to a future where the brilliance of their Minister of Power translates into a consistently brighter and more reliable electricity supply.
With Joseph Olasunkanmi Tegbe at the helms of affairs in the power sector in Nigeria, Nigeria can rest asuured that “there is light at the end of the tunnel”

Lateef O. AREMU (Akano Gudugba)
S3 /706D
Odo-Ada Compound,
Oke-Eleta, Ibadan
08162994660
akanoola@gmail.com

A New Dawn for Nigeria’s Power Sector: Minister Tegbe’s Brilliant Start

News

NDLEA Sells Drug Barons’ Assets for N6.1bn, Sends Warning to Criminal Networks

Published

8 hours ago

June 16, 2026

Ochuwa Ibrahim

NDLEA Sells Drug Barons’ Assets for N6.1bn, Sends Warning to Criminal Networks

By: Michael Mike

The National Drug Law Enforcement Agency (NDLEA) has dealt a major financial blow to drug trafficking syndicates, raising over N6.1 billion from the auction of properties confiscated from convicted drug kingpins across the country.

The assets, which include a six-storey luxury hotel in Victoria Island, Lagos, and three other high-value properties, were forfeited to the federal government following court orders obtained under Nigeria’s asset recovery laws.

The Victoria Island hotel accounted for the bulk of the proceeds, attracting a winning bid of N5.9 billion during a public auction conducted in Abuja on Monday. Altogether, four properties were successfully sold, while bids submitted for four others fell below the approved reserve prices and were consequently rejected.

The exercise marked one of the most significant asset recovery auctions conducted by the anti-narcotics agency in recent years and underscores a growing determination by authorities to target not only drug traffickers but also the wealth accumulated from illicit activities.

Announcing the results, the Head of Asset Recovery and Management Unit at the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, disclosed that Tope Ojo and Tunde Olonishakin Estate Firm emerged the successful bidder for the Victoria Island hotel.

Other successful bidders included FSS Limited, which secured a property in Lekki Phase 1, Lagos, with an offer of N219.5 million; A-BNB Global Innovations Limited, which won a block of flats in Ejigbo, Lagos, for N104 million; and Fazeen Global Link Limited, which acquired a property in Akure, Ondo State, for N29.36 million.

Speaking at the ceremony, Chairman and Chief Executive Officer of NDLEA, Brigadier General Buba Marwa (rtd), declared that the auction represented more than a revenue-generating exercise, describing it as a strategic weapon in the fight against organised crime.

Represented by the agency’s Secretary, Shadrach Haruna, Marwa said the disposal of recovered assets sends a strong signal that individuals involved in the illicit drug trade would not be allowed to retain or benefit from the proceeds of their crimes.

He noted that public auctions of forfeited assets help reinforce public trust in the justice system by demonstrating transparency and accountability in the management of recovered properties.

According to him, the agency remains committed to tracking, recovering and disposing of criminal assets in a manner that serves the public interest while strengthening Nigeria’s asset recovery framework.

“We shall continue to pursue drug traffickers, dismantle criminal networks, recover the proceeds of crime and uphold the rule of law without fear or favour,” he stated.

Marwa also stressed that extensive safeguards were put in place to guarantee the integrity of the process. He said all assets were professionally valued by the Federal Ministry of Housing and Urban Development, while auctioneers engaged for the exercise were screened and pre-qualified through procedures approved by the Bureau of Public Procurement.

The NDLEA boss added that representatives of anti-corruption agencies, civil society organisations, the media and members of the public were invited to witness the bid-opening exercise in order to ensure transparency and public confidence.

He maintained that the auction was conducted in strict compliance with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and other relevant regulations.

Analysts say the successful sale of the forfeited properties highlights a growing shift in Nigeria’s anti-drug strategy from merely arresting traffickers to systematically dismantling the financial foundations of criminal enterprises.

For law enforcement authorities, the message is unmistakable: drug trafficking may generate vast fortunes, but those fortunes can ultimately be traced, seized and converted into public assets.

NDLEA Sells Drug Barons’ Assets for N6.1bn, Sends Warning to Criminal Networks