News
Major reason EFCC stormed our office-Dangote

Africa’s richest man, Aliko Dangote, says January’s visit by the operatives of the Economic and Financial Crimes Commission to the Lagos Head Office of the Dangote Group was intended to embarrass his company.
Speaking in an interview with Bloomberg and monitored on Tuesday, Dangote stated, “They visited the office but didn’t talk to anybody, nor did they arrest anyone. It was just to cause embarrassment (sic).”
The visit by the anti-graft commission to the company was part of a probe into alleged preferential allocations of forex to the Dangote Group and 51 other companies under the Emefiele-led Central Bank of Nigeria.
Dangote meanwhile maintained that despite the challenges, their operations remain “100 per cent clean,” given their significant role in Nigeria’s economy.
He also emphasized his company’s reputation as the highest-paying organization in Nigeria, adding that Dangote Group pays more taxes than the banking sector.
EFCC had earlier written to the 52 companies directing them to provide documents supporting the allocation and utilisation of foreign exchange sold to them at official rates in the last 10 years.
The anti-graft commission had asked the firms to submit Form A and Form M which detailed the forex allocations to them between 2014 and June 2023.
But while some companies complied with the directive, several others were said to have asked for time to get the proper documents.
However, a Dangote official claimed the firm had honoured the EFCC’s request and wondered why the commission chose to embarrass them.
“We don’t know why they (EFCC officials) came to our office again; we had earlier been invited to the office of the EFCC. As such, the Dangote officials took along all the documents and submitted them. We don’t know why they eventually decided to visit our office again.
“The question we are asking is what did they come to take from our office when we had honoured their invitation? They left with empty hands because all the documents they wanted from us had been taken to them. The same EFCC that came to our office is the one giving information to the media that they are investigating us,’’ the official said.
Before the raid, Dangote Industries had in November 2023 refuted allegations that it was involved in forex malpractices and money laundering involving a staggering $3.4bn allegedly facilitated by Emefiele.
It denied the claims that the money was funnelled to its non-Nigerian subsidiaries, prompting illicit financial flows and round-tripping.
The company referred to past approvals granted by the CBN between 2010 to 2018, allowing it to purchase forex totalling $3.755bn for funding of its projects across Africa, of which only 47.70 per cent was utilised.
News
Your Best Days in Politics Are Still Ahead – Speaker Abbas Tells Kalu

By Gloria Ikibah
Speaker of the House of Representatives, Rep. Tajudeen Abbas, has hailed his Deputy, Rep. Benjamin Okezie Kalu, as a rising force in Nigeria’s political landscape, describing him as a man whose journey is only just beginning.
Abbas gave the remarks on Tuesday inside the chamber, shortly after plenary, as members of the House gathered to celebrate Kalu’s 54th birthday with a brief ceremony and a cake-cutting session.
Kalu, who represents Bende Federal Constituency of Abia State, turned 54 on Monday.
A lawyer by training and former spokesperson for the House, he has grown into a familiar face not just within Nigeria’s legislature but also across international parliamentary networks.
In recent times, Kalu has taken on significant continental and global responsibilities. He chairs the Finance and Administrative Committee of the ECOWAS Parliament and leads the African Union Parliament’s Committee on Monetary and Financial Affairs. He is also an active member of the Inter-Parliamentary Union and sits on the steering committee of the Parliamentary Conference on the World Trade Organization.
His colleagues describe him as strategic, forward-looking, and quietly ambitious, a lawmaker whose blend of eloquence and diplomacy has made him a respected voice both at home and abroad.
Speaking to journalists after the brief celebration, Abbas said, “Benjamin Kalu is not just a Deputy Speaker. He is a man with vision, poise, and the kind of political maturity that Nigeria will need even more in the years to come. His future is very bright.
News
Council poll: APC working on consensus candidates ahead of primaries

Lagos State chapter of the All Progressives Congress (APC) is working towards consensus candidates for the upcoming primary election scheduled for Saturday.
The move is part of the party’s efforts to maintain unity and reduce internal frictions.
Five aspirants emerged unopposed following the screening organised by the party.
The incumbent Chairman of Surulere Local Government, Sulaimon Yusuf; his counterpart in Iba Local Council Development Area (LCDA), Jubril Yisa; Motunrayo Alogba of Ijede LCDA and Kasali Bamidele in Lekki LCDA emerged unopposed. A new aspirant, Azeez Kareem, was the only person cleared to contest in Oto-Awori LCDA.
Chairman of the APC Lagos State Electoral Committee, Babatunde Ogala, SAN, in an interview with The Nation, disclosed that more aspirants had emerged unopposed following interventions from the party leaders.
He expressed optimism that many more aspirants would step down before the Saturday primary election.
“We are hoping to have at least 70 per cent consensus candidates going into the primary election. If we can achieve that, it will leave us with only 30 per cent to conduct primaries for,” he said.
According to him, the appeal committee, headed by Mr. Adeniji Kazeem, SAN, has been sitting for the past two days and has received over 100 petitions.
Ogala said the committee had treated over 70 of the petitions and would conclude their assignment today (Wednesday).
He explained that while the party had prepared for indirect primaries, involving delegates drawn from local government executives, efforts were ongoing at various levels to arrive at consensus candidacies in many wards.
He said electoral materials were being finalised for distribution by Saturday, with electoral officers already appointed to oversee the process in all 57 local councils.
Ogala said security had been fully arranged in collaboration with the police, DSS, civil defence and Lagos traffic officials to ensure order and smooth movement at the secretariats where the primaries were expected to take place.
According to him, the party is also scheduled to hold a key stakeholders’ meeting today with senior officials and aspirants to finalise agreements and chart the way forward.
News
$400m steel factory set to begin operations in Ogun

President of Inner Galaxy Group, Mr. Li Shuang, yesterday, disclosed that his company was ready to set up a $400 million hot rolled coiled steel factory with the capacity to employ about 6,500 direct and indirect workers in Ewekoro Local Government Area of Ogun State.
He made this known while leading a delegation of principal officials of the organization at the Governor’s Office located at Oke-Mosan, Abeokuta.
He added that the company is expected to commence operations in April 2026, saying the organization, a multinational company with vast investments in Asia, the Philippines, Malaysia, and some African countries like Ghana and Angola, entered the Nigerian market in 2005, producing iron rods for the building industry.
Governor Dapo Abiodun expressed delight in the huge investment, as he ascribed the success to his administration’s deliberate and intentional move to make the state the leading industrial hub in Nigeria and the West Africa sub-region.
“This is a $400 million investment; this aligns with the President’s vision to ensure that we grow this economy to a trillion dollars, and I think that you will be contributing your quota in achieving that. We are excited that you will also be employing people.
“I will be commissioning a multimillion-dollar diagnostic equipment facility during the week. This administration has managed to attract quite a lot of industries in the last six years,”
Abiodun noted that the state is blessed with abundant human and natural resources, adding that alluvial gold had been discovered in large quantities, just as the state has the highest quality of lithium.
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