Business
‘You are the son of Satan, shameless old fool, a gangster minister’- FFK Blasts Lai Mohammed
In an article shared on social media this morning, former Minister of Aviation, Femi Fani-Kayode, blasted Minister of Information and Culture, Lai Mohammed for granting an interview to Channels TV where he gave reasons why the Federal government cannot release former National Security Adviser Sambo Dasuki and leader of the Islamic Movement of Nigeria, Ibrahim El-Zakzaky. Read the article below…
I watched the Minister Information and Culture Lai (aka Lie) Mohammed’s ‘Politics Today’ interview with Seun Okinbaloye of Channels Television a few days ago and I felt sorry for Nigeria.
I couldn’t help wondering why Channels Television keeps offering its respected platform to this shameless old fool to beam, broadcast and perpetuate unadulterated falsehood to the Nigerian people and to tell specious lies. The whole thing is simply incredulous.
During the course of that interview he told one big lie after the other with such ease and without batting an eyelid. I really do wonder how this man sleeps at night. I guess such things come naturally to him.
I look at his face and all I see is an unconsciable and relentless shit projector and sewage propeller.
He reminds me of one of those filth-ridden open gutters in India’s City of Mumbai: all manner of unprintable and disgusting things flow in and through it for all to smell and see.
Everything about him, including how he looks, what he says, what he wears and how he talks stinks to high heavens.
Like Donald Trump once said about a notorious Mexican drug lord, “this dude is a bad hombre!”
He is the kind of person that would pass a lie detector test with flying colours over and over again simply because lying is his nature. He is posessed by what the bible graphically and aptly describes as a “lying spirit”.
The first salvo of lies that he told us during the course of the interview was that Sheik El Zak Zaky, the leader of the Shiite Muslim community in Nigeria, was being kept in a guest house with his family and that he was not in government custody.
He went on to contradict himself by saying that the Federal Government was keeping him in custody only because they were building him a brand new house that he would move into later and that the difficulty that they had was that no-one wanted to be his neighbour!
Finally he said that the courts had said that the Sheik must not be released until that brand new house had been built for him.
Needless to say, all three assertions are false. They are nothing but dirty and desperate lies, cooked up to justify the governments disgraceful and indefensible behaviour towards El Zak Zaky, his family and the Shiite Muslims of Nigeria.
The truth is that firstly El Zak Zaky and his family are NOT being kept in a private guest house and both he and his wife most certainly are in government custody.
They have both been badly wounded, they are in the custody of the DSS and, for just under the last two years, they have been held at the DSS Headquarters in Abuja.
Their lawyers and doctors have little access to them but once in a while they are shipped to a secret government safe house for a short impromptu meeting with a handful of family members.
Secondly the Federal Government is NOT building a house for El Zak Zaky and even if they were this should not be a reason to keep him in indefinate and illegal custody and detention.
Thirdly the courts gave El Zak Zaky and his wife an order for unconditional release from the custody of the security agencies and his release order was not conditional on the government first building him a new house as Lie has suggested.
The truth is that the man and his wife have both been kept in illegal detention for almost two years, against their will and in total violation of all court orders.
Worst still throughout that period they have not been brought physically or produced by the intelligence agencies before any court of law.
El Zak Zaky was shot and blinded in one eye by the military whilst his wife was shot four times in the stomach at the time that his home was attacked and they were both abducted.
Over one thousand of his Shiite Muslim supporters were murdered that day and their homes were shelled, bombed and burnt to the ground. Since then both the man and his wife have been locked up in dingy underground cells and have been subjected to the most inhuman and barbarous form of pyschological and mental torture.
These are facts that Lie refused to acknowledge in his interview and that the government that he serves seek to hide from both the Nigerian public and the international community.
Lie also lied about Col. Sambo Dasuki the former National Security Advisor to President Goodluck Jonathan. He said that Dasuki was being detained indefinately because he would pose a threat to the Federal Government and to national security if he was released.
He went further to say that Dasuki had stolen 1.3 billion USD and that the government would not release him until that money was returned despite court orders to the contrary.
He did not tell us where the 1.3 billion USD was stolen from, he did not tell us whether it was stolen in cash, by cheque, by bank drart or by transfer and he did not tell us how he stole it. All he did was pick a figure from the sky and drop it.
He also said that as far as the government was concerned national security considerations were more important than court orders and that even though the courts had ordered Dasuki’s relese on several occassions the government would continue to ignore such orders because they believe that he poses a threat to national security.
The fact that it is unlawful to disregard court orders in Nigeria had no bearing on Lie. The fact that there is no law and no constitutional basis or justification to keep Dasuki in detention against court orders is immaterial to him and to the government that he serves.
The fact that the allegation that he stole 1.3 billion USD is not only utterly absurd but also has no basis in truth or reality is neither here nor there to this wicked man and to those he represents.
The fact that Dasuki poses no threat whatsover to anyone, least of all the Federal Government, matters less to this strange, conflicted and inexplicable creature that calls himself the Minister of Information and Culture.
The fact that locking up a man illegally and indefinately, depriving him of his constitutional rights and freedom, denying his lawyers and doctors full access to him, traumatising his family and friends, putting his stunningly beautiful and deeply courageous wife Bintu through hell, refusing to allow him to attend his aged father’s burial and denying him the right to be in a position to prepare a proper legal defence for himself against his detractors and accusers in court means absolutely nothing to this pernicious liar.
No matter how low the government goes and no matter how barbaric, illegal and heartless their actions are in terms of the violation of civil liberties and human rights, Lie has proved over and over again that he is prepared to go on Channels television or anywhere else to defend them.
I am convinced that if Buhari ordered for the gassing to death or burning alive of every single opposition figure and their family members together with all his other perceived enemies, Lie would gladly attempt to justify and defend it and Channels television would be only too happy to accomodate him and grant him the platform to do so.
Worse still he is prepared to defend the consistently aberrant, cruel, wicked, deviant and ungodly behaviour of the government that he serves with nothing less than the most bombastic and obvious lies, wholesale mendacities, false accusations, malicious fabrications and notorious and skewered half truths.
He has no conscience, no feeling, no empathy for his victims, no compassion, no mercy and no milk of human kindness.
One wonders if a man that is prepared to treat others so unjustly and defend it publicly can ever make it to heaven? One wonders whether they believe in God and if so whether they have any fear of Him.
It is clear to me that somewhere in the equation madness has crept into Lie’s confused and irreverant physche. He deserves to be pitied and, more importantly, he needs a lot of help and prayer. The sleazy job that he has been doing for the last two years has taken its toll and has got the better of him.
27 years ago when I first met Lie he used to be an absolute gentleman. Always wearing a smart suit and a crisp bow tie and always making concise and meaningful contributions to our many intense, contentious and oftentimes acrimonious discussions and public debates at the old September Club in Lagos, he was quite a sight to see.
He was a delight in those days. He was a man of his word, he always spoke the truth and it was a pleasure to be his friend. Sadly all that has changed.
In those days he was the affable and dependable “Lai” but today he is the truculent and cantankerous “Lie”.
In those days he was a man of unimpeachable honor and character who valued his integrity and reputation above all else but today he is a mere shadow and caricature of his former self.
He cuts a tragic figure that, over the years, found himself in bad company and that has degenerated very badly in terms of his virtues, his moral authority and his ability to stand for truth.
Simply put, he has sold his soul to the devil and he can now be righly and accurately described as one of those that the Bible refers to as a “son of perdition”.
A Minister of Information and Culture that everyone hates, that no-one trusts, that no-one believes and that looks like a cross between an ageing chimpanzee and washed-up and weathered old scarecrow.
At least Shehu Garbage and Femi Adesina are a little bit more presentable and they try to be a little more refined, subtle and polished with their distortions of truth. Not so with Lie.
He is just a plain old-fashioned, crude, vulgar Goebellian propagandist and pernicious liar. Like his father Satan, there is no truth in him. He was a liar from the start and the father of lies.
The truth is that he should have been the spokesman for the Italian or Russian Mafia, the Turkish or Greek underworld, the Japanese Yakuza, the Chinese Kuomintang or one of the numerous Colombian and Mexican drug cartels and not the Minister of Information of Nigeria.
That is the sort of thing he was born do. I say this because deep down Lie is nothing but a cheap hood and a gangster.
He is a ghetto and gangster Minister who speaks for and represents a ghetto and gangster Government.
Bank
Fidelity Bank grows gross earnings by 38% to N434.95b in Q1
Fidelity Bank grows gross earnings by 38% to N434.95b in Q1
Fidelity Bank Plc recorded 37.9 per cent growth in gross earnings to N434.95 billion in first quarter 2026 as the international commercial bank continued to expand its core banking market share.
Interim report and accounts of Fidelity Bank for the three months ended March 31, 2026 released at the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion in first quarter 20025 to N434.95 billion in first quarter 2026, representing an increase of 37.9 per cent.
The top-line performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in first quarter 2026 as against N256.10 billion in first quarter 2025.
With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit stood at N74.47 billion for the three-month period. Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.
The balance sheet of the bank also emerged stronger. Total assets crossed the N11 trillion mark to N11.35 trillion by March 2026 compared with N10.46 trillion recorded in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion. Total equity rode on the back of earnings growth to a 27.5 per cent increase from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.
The first quarter 2026 results further consolidated the strong earnings outlook of the bank, which had successfully completed its recapitalisation amidst impressive earnings performance in 2025.
Fidelity Bank had recorded double-digit growths in interest and non-interest incomes as well as key balance sheet items during the year ended December 31, 2025.
The audited report showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 per cent. Interest and similar incomes had grown by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission incomes also rose by 44.7 per cent from N78.4 billion to N113.4 billion. The bank recorded net profit after tax of N242.4 billion in 2025.
The bank’s balance sheet emerged stronger with total assets rising by 18.6 per cent to N10.46 trillion in 2025 as against N8.82 trillion in 2024. Customer deposits increased by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Net loans and advances meanwhile declined by 2.4 per cent to N4.28 trillion in 2025 as against N4.39 trillion in 2024, attributable to customers paying down on their mature obligations.
The bank had in 2025 strengthened its capital position, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy had remained robust, with Capital Adequacy Ratio of 30.94 per cent by December 2025 as against 23.47 per cent by December 2024.
Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the first quarter 2026 results reinforced the bank’s strong and resilient business model.
She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank has entered a new era of growth and impressive returns.
“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” Onyeali-Ikpe said.
Business
Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU
Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU
The operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals is fundamentally reshaping Nigeria’s downstream oil sector, significantly reducing the country’s dependence on imported refined petroleum products and strengthening its external position, according to the Economist Intelligence Unit (EIU).
In its latest assessment on Nigeria’s fuel market and regulatory environment, the EIU said the refinery has already transformed a sector that was previously characterised by heavy reliance on imported fuel despite Nigeria being Africa’s largest crude oil producer. The report noted that the refinery met nearly 80 per cent of domestic petrol demand in April and produced enough volumes to satisfy local consumption requirements as operations approached full capacity.
The EIU described Nigeria’s downstream petroleum sector before the refinery as “long dysfunctional”, noting that the country had remained almost entirely dependent on costly imported fuel while producing nearly 1.5 million barrels of crude oil daily.
According to the report, the emergence of the refinery has reduced import dependence, improved domestic fuel availability and strengthened Nigeria’s balance of payments position through lower import demand and rising exports of refined petroleum products.
“The gradual ramp up of the 650,000 barrel/day Dangote refinery since May 2023 has transformed Nigeria’s long dysfunctional downstream sector,” the report stated. “The country’s main refineries, all state owned, had been inoperative for years and Nigeria was almost entirely reliant on costly imported fuel.”
The research and analysis division of The Economist Group, London added that the refinery’s attainment of full operational capacity and its planned expansion would further support Nigeria’s economic growth and foreign exchange earnings over the medium term.
“Meanwhile, the attainment of full capacity at, and an increase in exports from, the Dangote refinery will support real GDP growth and foreign exchange earnings in 2026 and 2027 and beyond, as a planned doubling of the plant’s output comes on stream around the end of the decade,” it added.
Industry analysts said the refinery is increasingly positioning Nigeria as an emerging refining and export hub, altering energy trade flows across Africa and reducing the vulnerability associated with fuel import dependence.
The EIU noted that the refinery’s expansion has coincided with major reforms in Nigeria’s downstream sector, including the removal of fuel subsidies and the introduction of market driven pricing mechanisms.
The report, however, said the transition from a state dominated fuel import structure to large scale domestic refining has triggered resistance from interests linked to the old import regime.
The latest tensions emerged following the decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to relax restrictions on petrol imports despite the refinery’s growing capacity to meet domestic demand.
Dangote Industries subsequently initiated legal action, arguing that continued import approvals undermine domestic refining investments and conflict with the objectives of the Petroleum Industry Act, which seeks to encourage local refining capacity and reduce import dependence.
Analysts noted that the availability of large-scale domestic refining capacity has improved Nigeria’s energy security and reduced exposure to external supply shocks and foreign exchange volatility.
The Centre for the Promotion of Private Enterprise also cautioned against unrestrained importation of petroleum products, warning that such a policy could weaken Nigeria’s industrialisation drive and discourage investments in domestic refining.
Chief Executive Officer of CPPE, Muda Yusuf, said continued dependence on imported fuel had historically contributed to pressure on foreign reserves, exchange rate instability and fiscal leakages.
The refinery’s growing impact is also being reflected in Nigeria’s broader macroeconomic indicators. Earlier this month, S&P Global Ratings cited increased domestic refining capacity and rising hydrocarbon exports among the major factors supporting Nigeria’s sovereign credit rating upgrade – the first in 14 years.
Beyond Nigeria, analysts said the refinery is increasingly being viewed as a strategic industrial asset for Africa, where many countries remain heavily dependent on imported fuel despite rising demand for transportation, manufacturing, and power generation.
Business
BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally
BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally
In a landmark ruling on Friday, May 22, 2026, the Federal Capital Territory High Court in Abuja threw out a $19.6 million lawsuit filed by Alternate Dimensions Ventures Ltd against the Nigerian National Petroleum Company Limited (NNPCL), affirming a key legal principle: a written contract cannot be expanded through oral agreements or conduct.
Alternate Dimensions had sought $19,600,000 in professional fees, claiming the scope of its Direct Sale, Direct Purchase (DSDP e-pro) contract with NNPCL was orally expanded. Represented by counsel Patrick Peter, the firm argued it was entitled to the revised sum for services rendered under the alleged new terms.
But NNPCL, through its lawyer Ituah Imhanze of KENNA LP, pushed back sharply, arguing that parties are bound exclusively by the clear terms of their written agreement. Imhanze contended that without any written amendment, the claim was legally unsound, and the court agreed.
Delivering judgment, Justice Hamza Mu’azu upheld NNPCL’s defense, stating that the contract was unambiguous and that no evidence was adduced during the trial, which supported the alleged scope expansion. The court further found that NNPCL fully complied with all contractual terms and committed no breach.
Dismissing the suit as meritless, Justice Mu’azu reinforced the doctrine of sanctity of contract: any amendment to a written agreement must be express, unequivocal, and documented, not implied or verbal.
The ruling spares NNPCL from the S19.6 million claim and also a floodgate of similar potential liabilities.
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