Business
Gani Adams Collected N10.6b From Jonathan, $22m from Gadaffi to enrich himself” – OPC Leaders
Some state chairmen of the Odua’ Peoples Congress have called on the President Muhammadu Buhari led government and the Economic and Financial Crimes Commission to investigate Mr. Gani Adams, who they referred to as a former OPC National Coordinator.
While accusing Adams of financial impropriety, they also called on the EFCC to investigate some aides of Adams such as Ogunshola Olugbade and Femi Felix, who they referred to as his fronts.
They spoke on Sunday during a media briefing in Ilorin, the Kwara State capital.
The OPC Kwara State Coordinator, Mr. Maruff Olanrewaju, who addressed the media conference on behalf of other six states’ coordinators was flanked by the Oyo State Coordinator, OPC, Chief Adeagbo Musediq; his Ondo State counterpart, Mr. Rotimi Akinsonwon, a member of the National Coordinating Council, Mr. Lateef Oshodi; a former National Publicity and Director of Programmes, OPC, Mr. Sunday Bankole as well as some other national and Kwara State executives of the organisation.
Olanrewaju said, the Delta State coordinator, Mr. Hakeem Agbo-ola; his Sokoto State and Kaduna State counterparts, Alhaji Yekini Salaudeen and Alhaji Rasaq Ogunsanwo respectively and that of Bayelsa State though absent were in agreement with their position.
He said, “We also call on President Muhammadu Buhari and the EFCC to investigate all Gani Adams banks accounts; Ogunshola Olugbade’s account as well as Femi Felix account from February to November 2015.
“More so, President Muhammadu Buhari-led administration should give very closed monitoring to the bank and industry sectors because how can someone within a month save more than a billion in an account without any alarm from the bankers?”
He accused Adams of planning to unleash violence in Kwara State and urged the state government, security agencies to closely monitor the activities of Adams in the state.
According to him, Adams is planning to storm Ira, Oyun Local Government on March 12 allegedly with his hoodlums.
He said Adams was removed as national coordinator of OPC because he allegedly failed the entire members of the organization and allegedly betrayed the entire Yoruba race.
He accused Adams of disrespecting Yoruba leaders including the Ooni of Ife, Oba Adeyeye Ogunwusi.
Olanrewaju said, “Just of recent, you are all living witnesses when a former President of Nigeria, Chief Olusegun Obasanjo went to Oni of Ife, he prostrated flatly before Oni. But when Gani Adams went, he just bowed his head with hand shake to Oni. That is disrespectful.
Adams is a disgrace to Yoruba culture. When you are promoting culture and you cannot bow in front of one of the most highly respect Oba in Yoruba land that is unacceptable.”
The Kwara State OPC boss further said Adams was not financially transparent to members of the organization.
According to him, Adams had collected N1.6bn from a former President, Dr. Goodluck Jonathan for empowerment of the members, which he did not make the members to benefit from.
He also alleged that Adams collected N9bn from Jonathan’s government allegedly to destabilize the Yoruba race as well as allegedly received take off grant from Jonathan for pipe-line surveillance contract which OPC members executed only to allegedly deceive the OPC members who he said actually executed the contract that the contract money had not been paid.
Olanrewaju said, “Adams promised our members that if Jonathan released money, each member will get between N200,000 and N250,000 as empowerment. When Jonathan released N1.6bn through Musiliu Obanikoro, for that empower, there was nothing to show for it.
“He should explain how Jonathan’s money was spent. Before the election, there was a publication by a former National Publicity Secretary of the All Progressives Congress now Minister of Information and Culture, Alhaji Lai Mohammed that Adams had collected N9bn from Jonathan to disorganize the Yoruba race. We denied that but later we came to the realization that truly he collected the money.
“At the first meeting after the election, he told us that he spent N800m on OPU outside the country. Where did he get the money? He also bought some properties. After the election, he went to London to establish Odua Voice Radio, which cost him thousands of dollars. Where did he get the money from if he did not collect N9bn from Jonathan?”
According to the Kwara OPC boss, Adams collected $22m from a former leader of Libya, late Muammar Gaddafi. He further alleged that Libyans had been demanding for the refund of the money.
“Adams should explain how Jonathan’s money was spent. We demand immediate reaction to the allegation of $22m Gadaffi money. He should show to the world the registration certificate of Olokun Festival Foundation, Oodua Economic Empowerment Initiative and that of Oodua Voice Radio,” Olanrewaju said.
He also alleged that Adams became partisan and supported many governorship candidates that later failed.
He added that Adams had boasted that he would mobilize 6m votes for Jonathan from South West. He stated that even with alleged rented crowd, Adams disappointed Jonathan.
According to him, Adams supported Gadaffi against Libyans while Gadaffi later died.
Olawale who said other state coordinators of OPC were solidly behind them in their revolt to Adams challenged him to sue them if he believed that their allegations against him are untrue.
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
For millions of Nigerians, homeownership has long felt like an ambition deferred. Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream.
But that narrative is quietly changing. Thanks to FirstBank.
The N1 Trillion Intervention Reshaping Access
In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria.
Backed by the Federal Government’s N1trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.
9.75% Interest Rate in a 30% Lending Environment
MREIF is priced at 9.75% per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.
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Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
Dangote Refinery Prioritises Domestic Supply Amid Global Energy Turbulence
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“Nigeria insulated from international fuel shocks as Dangote Petroleum commits to uninterrupted local delivery.”
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to prioritising the domestic market, pledging to shield Nigerians from the ripple effects of ongoing global energy disruptions. The assurance, delivered in Lagos on 5 March 2026, comes as international refinery operations experience shutdowns or reduced output due to escalating Middle East geopolitical tensions, which have sent crude oil and petroleum product prices soaring worldwide.
“Our mandate remains clear: Nigeria’s local market takes precedence. In times of global supply shocks, we will continue to ensure that domestic availability of petrol, diesel, and kerosene is uninterrupted,” said Mr. Folorunsho Alakija, spokesperson for Dangote Petroleum Refinery.
The refinery’s declaration arrives amid mounting concerns over fuel scarcity, triggered by export restrictions imposed by major international producers, including China, and shipping delays that have further tightened global petroleum supply chains. Industry analysts have hailed the domestic focus as a critical buffer against volatility that could otherwise push Nigeria into deeper energy insecurity.
Domestic Shield Against Global Disruption
Dangote Refinery, Africa’s largest oil processing facility, has leveraged its multi-million-barrel refining capacity to mitigate Nigeria’s historical dependence on imported petroleum products. The company emphasised that prioritising local supply provides a strategic advantage in insulating the nation from international market shocks.
“Our refinery’s scale allows Nigeria to withstand short-term external disruptions. We have the infrastructure and capacity to meet local demand even when global supply chains falter,” explained Mr. Chijioke Okonkwo, Operations Director at Dangote Refinery.
The proactive approach is particularly significant as several international refineries have either reduced throughput or temporarily halted operations, causing a global scarcity of refined products. Experts warn that without domestic cushioning, fuel prices in Nigeria could have surged sharply, exacerbating inflationary pressures in a fragile economy.
Managing Costs While Prioritising Supply
In response to rising procurement costs for crude oil amid the international crisis, Dangote Refinery introduced a modest ₦100 per litre increase in the ex-depot price of Premium Motor Spirit (PMS), absorbing roughly 20 percent of the cost escalation to lessen the impact on consumers.
“We are balancing operational sustainability with affordability. While global prices have risen sharply, we have chosen to absorb a significant portion to protect Nigerian households and businesses,” noted Mr. Emmanuel Adeyemi, Chief Finance Officer.
This pricing strategy underscores the refinery’s dual focus: ensuring uninterrupted supply while cushioning the public from abrupt spikes that could destabilize economic activity. Industry observers have lauded the approach as pragmatic, considering the volatility in international oil markets.
Strategic Distribution Initiatives
Beyond refining, Dangote Petroleum has initiated Compressed Natural Gas (CNG) powered trucks to enhance nationwide distribution efficiency. The initiative seeks to reduce logistics costs and carbon emissions while ensuring a more reliable delivery network to petrol stations across urban and rural areas.
“Logistics is a critical part of the energy supply chain. By deploying CNG-powered trucks, we reduce dependency on expensive diesel, lower delivery costs, and improve supply reliability across the country,” explained Ms. Funke Adedoyin, Head of Logistics Operations.
This strategic move reflects a broader commitment to modernising Nigeria’s petroleum distribution infrastructure, reducing bottlenecks that have historically contributed to scarcity at retail outlets.
Implications for National Energy Security
Nigeria has historically struggled with fuel imports to meet domestic demand, making the country vulnerable to international market fluctuations. Dangote Refinery’s prioritisation of local supply mitigates this vulnerability by leveraging home-grown refining capacity, which allows for timely access to petroleum products and less reliance on foreign shipments.
“With Dangote Refinery leading local prioritisation, Nigeria is less exposed to global fuel shocks. The country is moving towards self-reliance in petroleum product supply,” commented Dr. Halima Suleiman, energy sector analyst.
Experts note that sustained operations at the refinery not only enhance energy security but also preserve foreign exchange, reduce import bills, and stabilise domestic market prices.
Corporate Social Responsibility and Market Stability
The refinery’s commitment is part of a broader corporate responsibility framework. Dangote Petroleum continues to engage with government agencies and regulatory bodies, ensuring that domestic supply is coordinated with Nigeria’s Petroleum Product Pricing and Regulatory Agency (PPPRA) to prevent panic buying and market distortions.
“We are in constant consultation with the government to ensure that our supply strategies align with national economic priorities,” said Mr. Alakija.
Such collaboration helps avert artificial shortages, stabilises pump prices, and maintains confidence in the domestic fuel market. Analysts argue that this approach exemplifies how private sector capabilities can complement governmental policies to enhance national resilience.
Navigating Global Uncertainties
The refinery operates in a complex global environment, where geopolitical crises, shipping constraints, and crude oil volatility can trigger disruptions. Dangote Petroleum’s domestic-first approach positions Nigeria to weather such crises more effectively.
“Global uncertainties are unavoidable, but our infrastructure and strategy ensure that Nigerians remain insulated from immediate shocks,” said Mr. Okonkwo.
This emphasis on resilience aligns with global best practices, where national refining capacity is leveraged to protect local markets from international supply disruptions.
Stakeholder Reactions
The government, civil society, and industry stakeholders have welcomed Dangote Petroleum’s strategy. Officials from the Federal Ministry of Petroleum Resources noted that prioritising local supply aligns with Nigeria’s energy security policies and reduces the burden of foreign exchange expenditures on crude imports.
“Dangote Refinery is demonstrating leadership. Its domestic prioritisation ensures that the Nigerian economy remains insulated during turbulent global markets,” said Dr. Tunji Olumide, Special Adviser on Energy.
Consumers have also expressed cautious optimism. Retail operators and commuters reported steadier fuel availability in Lagos and other cities, though concerns remain about sustained pricing and distribution efficiency.
The Road Ahead
While Dangote Refinery’s strategy provides immediate relief, experts argue that long-term stability requires further investments in alternative energy, diversified refining infrastructure, and strategic reserves. This ensures that Nigeria can withstand global shocks without relying excessively on imports or temporary supply adjustments.
“Short-term measures like prioritising local supply are critical, but long-term energy security demands diversification, renewables adoption, and consistent policy implementation,” said Dr. Suleiman.
The refinery is exploring additional initiatives, including expanding storage capacity, upgrading pipeline networks, and adopting technology-driven monitoring systems to ensure supply continuity across the country.
Final Take
By prioritising domestic fuel supply amid global market turbulence, Dangote Petroleum Refinery and Petrochemicals has demonstrated its role as a stabilising force in Nigeria’s energy sector. Through strategic logistics, modest pricing adjustments, and engagement with government regulators, the refinery is insulating the nation from international shocks while maintaining operational sustainability.
“Our responsibility extends beyond profitability; it’s about ensuring Nigerians have reliable access to essential fuel. We take that mandate seriously,” concluded Mr. Adeyemi.
The refinery’s actions offer a blueprint for how large-scale domestic capacity can protect national economies in times of global energy instability, underscoring the critical intersection of private sector resilience, public policy, and national energy security.
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