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    MarketForces Africa » MarketForces News » ICPC Invites Dangote over Petition Against Ex-NMDPRA CEO

    ICPC Invites Dangote over Petition Against Ex-NMDPRA CEO

    Julius AlagbeBy Julius AlagbeDecember 21, 2025 News No Comments2 Mins Read
    ICPC Invites Dangote over Petition Against Ex-NMDPRA CEO
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    ICPC Invites Dangote over Petition Against Ex-NMDPRA CEO

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has asked Aliko Dangote to appear before its panel of crack investigators on Monday in Abuja over a petition written by him.

     Dangote had written a petition against Ahmed Farouk, former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over alleged corruption.

    A source close to the commission, which confirmed this on Sunday in Abuja, stated that ICPC had set up a panel of crack investigators to handle the probe. According to the source, the commission’s Chairman, Dr Musa Aliyu (SAN), has also asked the team to focus on Dangote’s petition.

    The oil magnate is expected to appear or send his lawyer, Ogwu Onoja (SAN)  with his evidence, when ICPC’s investigation of the petition formally commences.

    Dangote had accused Farouk of corruption and misappropriation of funds, including spending millions of dollars on his four children’s education in expensive and exclusive schools in Switzerland.

    He also alleged that Farouk undermined domestic refining by colluding with international traders and oil importers through the continued issuance of import licences.

    The ICPC has asked Dangote to submit his evidence to the anti-graft agency, and the commission is expected to be fair to all parties involved.

    Farouk has since resigned his appointment, but the commission said it is going ahead with the investigation, stating that his resignation does not affect the probe.

    The petition against Farouk alleges that he spent without evidence of lawful means of income, over seven million dollars for the education of his four children in Switzerland.

    Dangote is demanding the arrest, investigation, and prosecution of Farouk for allegedly living above his means as a public servant.

    The commission’s spokesperson, John Okor Odey, confirmed that the ICPC received a formal petition on Dec. 16, from Dangote through his lawyer, against the former CEO of the NMDPRA. Naira Falls as FX Intervention Fails to Ease Market Pressure

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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