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Raids on Dangote Group,Other Local Conglomerates Inimical To Economic Growth-ACF

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On 4th January 2024, operatives of the EFCC stormed the Head Office of the Dangote Group at Ikoyi, Lagos.

The search was linked with the probe of 51 companies by the anti- graft agency over forex transaction in the last 10 years.

Prior to the visit/ raid, Dangote Group had sought clarification on why certain documents were demanded, but this proved abortive.

They also requested additional time to “compile and properly present the required extensive documentation”.

Neither the clarification , nor the extension were granted. On January 4 EFCC personnel descended on Dangote Head Office demanding same documents the company’s officials had already brought to the premises of the anti- graft police.

The raid of the premises Dangote Headquarters and those of other 51 big business establishments by the EFCC is capable of discouraging foreign investors who are already showing signs of reluctance to bring in their money into the country.

The Arewa Consultative Forum, Kano State chapter, and the good people of Kano are apprehensive about the raid on Dangote because we see it as an unhealthy development that could further worsen our economic situation, scare investors, and hinder Nigeria’s growth prospects.

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The move would further exacerbate our current difficult situation and deter potential investment. We can not but agree with the position advanced by no less one of the most respected members of the National Assembly who reacted thus: ”

Given our current fragile economic situation, this move by the EFCC will worsen things.

Now is not the time for this; it is the time for the nation to focus on the integration of African economies and the expansion of trade and investments across the continent to stimulate growth and create employment opportunities, not conducting raid on its largest conglomerate”.

Dangote’s impact for decades has been felt through various facets of our economy.

The company played a crucial role in transforming our economy from heavy import dependence to a net exporter in critical industries.

ACF reaffirms that no one individual, group or institutions are above the Laws of the Land. Our position is that if any of the companies under the Dangote seal, or among the remaining 51 affected companies under probe, violated any of our laws, appropriate sanctions should be applied. In the more advanced economies, that is what obtains.

For instance, at various times Microsoft, Beta, BP and several business concerns had been fined by the US government for infractions committed.

Recently, P&G and few other conglomerates left Nigeria. Aliko Dangote is one of the most patriotic businessmen who had chosen to invest in Nigeria.

There are several equally very rich people who kept their resources in portfolio investments, real estate and other endeavours in foreign lands at the expense of Nigeria.

We should celebrate Dangote and all our local big companies for their doggedness, persistence and unwavering commitment to bolster the Nigerian economy.

In a statement y its publicity secretary  Bello Sani Galadanci ACF calls on the Federal Government of Nigeria to devise amicable ways of making our top business establishments to make greater contributions to our economic growth; and halt the raids , as the nation struggles hard to attract foreign investment and other key ingredients to redeem the economy.

 

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Ex-Sokoto Governor Tambuwal Officially Joins ADC

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By Yusuf Danjuma Yunusa

Senator Aminu Tambuwal, a former Governor of Sokoto State, has officially resigned his membership from the Peoples Democratic Party (PDP), attributing his departure to the party’s deepening internal crises. He has subsequently joined the African Democratic Congress (ADC).

Tambuwal, who currently represents Sokoto South in the Senate, formalized his resignation in a letter dated March 11, 2026, addressed to the PDP ward chairman in his Tambuwal/Shinfiri Ward, Tambuwal Local Government Area. The contents of the letter were made public on Thursday.

In the correspondence, the former Speaker of the House of Representatives explained that the decision was the result of extensive deliberations with his political network. “After deep reflection and extensive consultations with my political associates and supporters, I have decided to resign my membership of the Peoples Democratic Party with immediate effect,” the letter stated.

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He pointed to the party’s ongoing instability as the primary reason for his exit. “The persistent internal crises, leadership disagreements and growing divisions within the party have made it increasingly difficult for me to continue my membership,” Tambuwal wrote.

While severing ties with the PDP, Tambuwal acknowledged the platform the party provided for his political career. “I remain grateful to the party for the platform it provided me to serve Nigeria as Speaker of the House of Representatives and later as Governor of Sokoto State,” he noted.

Confirming his immediate switch to the ADC, Tambuwal said he is joined by his associates and supporters. He framed the move as a pursuit of a more principled and credible political vehicle. “My decision is guided by the conviction that Nigeria requires a stronger political platform built on integrity, accountability, inclusiveness and a clear commitment to national development,” he added.

Tambuwal’s political career has been marked by significant shifts. He served as Speaker of the House of Representatives from 2011 to 2015 under the PDP before crossing over to the All Progressives Congress (APC) to successfully run for Governor of Sokoto State in 2015. In a dramatic move later that same year, he defected back to the PDP, under whose banner he won a second gubernatorial term in 2019.

Following the conclusion of his second term as governor in 2023, he was elected to the Senate. His latest defection to the ADC is poised to reshape the political landscape in Sokoto State, where he remains a highly influential figure.

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ADC Criticises Tinubu’s CNG Plan, Demands Price Cap

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By Yusuf Danjuma Yunusa

The African Democratic Congress (ADC) has urgently called on the Federal Government to implement a temporary cap on petrol prices, warning that the recent surge in fuel costs is exacerbating the hardship faced by millions of Nigerian households.

In a press statement issued on Wednesday, the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, acknowledged that volatility in global oil markets—spurred by the ongoing crisis in the Middle East—is contributing to the price hikes. However, the ADC argued that external factors do not justify allowing fuel prices to rise unchecked in an economy still reeling from the removal of the fuel subsidy.

“For everyday Nigerians, petrol determines the price of food, transportation, and survival. When petrol rises, everything else rises with it,” Abdullahi stated. “This is why the African Democratic Congress urges the Federal Government to take urgent action to stabilize petrol prices.”

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The party criticized the administration of President Bola Tinubu, stating that the current APC-led government must take responsibility for shielding citizens from the harshest effects of the increases. The ADC further called for the introduction of targeted palliatives specifically designed to support low-income Nigerians who are most vulnerable to the rising cost of transportation and goods.

Beyond the immediate call for a price cap, the ADC questioned the feasibility of the government’s long-term energy strategy, specifically targeting the recently announced plan to distribute 100,000 Compressed Natural Gas (CNG) conversion kits.

The party noted that with over 11 million vehicles registered in Nigeria, the proposed 100,000 kits would cover less than one percent of the nation’s vehicle fleet. Furthermore, the ADC raised concerns about the limited availability of CNG refuelling stations across the country, questioning whether the policy would have any tangible impact on the average Nigerian.

“A policy that touches only a fraction of vehicles cannot meaningfully address a national fuel crisis,” Abdullahi said. “If Nigerians cannot easily find where to refuel, then the policy risks becoming an announcement without real impact.”

The ADC urged the Federal Government to pursue a more comprehensive and credible energy strategy that reflects Nigeria’s status as an oil-producing nation.

“Nigeria is an oil-producing country, and it should not be a place where the cost of petrol repeatedly pushes millions of citizens deeper into hardship,” the statement concluded. “At a time of rising global uncertainty, protecting the welfare of citizens must remain the first duty of any government that knows what they are doing.”

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Defence Minister Tasks Service Chiefs to Visit Terror-Hit North-West and North-East

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By Yusuf Danjuma Yunusa

The Minister of Defence, Christopher Musa, has directed the nation’s service chiefs to conduct on-the-ground visits to the North-West and North-East regions to reassess and revitalize ongoing military operations against terrorists.

The directive was issued on Wednesday during a high-level security meeting convened by the minister at the headquarters of the Ministry of Defence in Abuja. The meeting was called to address the pressing security challenges plaguing the two zones.

Confirming the development to TheCable, Timothy Antigha, the Special Adviser on Media to the Minister, stated that the service chiefs are expected to embark on the visits imminently. Upon their return, they are to submit comprehensive reports detailing their findings and proposing strategic adjustments to enhance the effectiveness of military operations in the troubled regions.

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The minister’s directive follows a concerning surge in attacks by terrorist groups, who have recently intensified assaults on military installations, leading to the deaths of several personnel.

In a significant escalation on Monday, fighters from the Islamic State West Africa Province (ISWAP) overran a military facility in the Kukawa Local Government Area of Borno State, during which a commanding officer was killed.

The following day, troops in the same locality successfully repelled another early-morning assault, also attributed to ISWAP fighters, highlighting the sustained pressure on forces in the region.

This recent spate of violence includes an attempted incursion by suspected Boko Haram and ISWAP fighters on military positions in Ngoshe, Gwoza LGA, about a week prior. The Nigerian Air Force responded with air strikes in that engagement, reporting that over 50 of the suspected terrorists were neutralized.

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