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Petition On How Dangote Allegedly Siphoned 3.4Billion Dollars Forex Through CBN Submitted To Tinubu



Aliko Dangote

President Bola Ahmed Tinubu has received a Petition against Billionaire Businessman, Alhaji Aliko Dangote over $3.4 Billion allegedly siphoned through the Central Bank of Nigeria.

The petition, seen by POLITICS NIGERIA, filed by Ahmed Fahan, a Social Justice Advocate, alleged that Dangote grossly violated the Forex Guidelines of the CBN for years.

The petition was attached to a letter written to the President on August 18th, 2023.


“I write to you today as an alarmed Nigerian citizen and a tenacious advocate for social justice. I bring to your attention a scandalous issue of gross financial misconduct and illegality involving the Dangote Group – a flagrant abuse of the Central Bank of Nigeria’s (CBN) forex guidelines for the past 10 years.”

“First exposed by Dr. Ope Banwo of Change Vigilantes International (CVI) in his 2016 petition to the former President Buhari(read here: this brazen illegality involves a shocking violation of CBN guidelines, causing a USD 3.4 billion diversion from Nigeria’s national treasury at rates between 150-200USD when the parallel exchange rate was more than double that. This insidious financial maneuvering still threatens the very stability of our country’s economy even today.”

“Astoundingly, this flagrant siphoning was carried out using Form A, instead of the legal route through Form M, which is tantamount to a gross violation of the law as it offers no financial returns to our country. The barefaced audacity of these financial transgressions is further displayed by several implicated banks, which have audaciously sanctioned millions of dollars at the CBN rate to the Dangote Group, in direct violation of CBN’s instructions to source funds from the parallel or interbank market.”

“These unscrupulous actions facilitated the illegal transfer of funds for supposed foreign investments, including the supposed construction of factories in countries like Congo and Liberia. These funds were moved out of Nigeria with the alleged unlawful aim of industrial developments in other nations, while our own country was left bereft of these much-needed investments.”

More worryingly, there are several instances, such as in Liberia, where promised factories were never built. The siphoned funds were, instead, reportedly transferred to Dangote’s accounts abroad, thereby exploiting Form A for illicit cash movements that cannot be reclaimed by our country.

“It must be highlighted that the approvals sought from the CBN clearly stated that money sought by Dangote must be bought from the Interbank market – which means money outside the CBN. However, the funds were bought and transferred from the national treasury with the CBN, which was illegal. On a continued basis over the years and contrary to the approvals, Emefiele’s CBN continued illegally supplying money from Nigeria’s treasury at cheaper rates to Dangote Group (see some evidence attached). This is an illegality that must be righted. For instance in 2015, Form A number AA2541751 was used to transfer over 341million through telegraphic transfer (ECOBANK) in contravention of CBN directive to use interbank funds only for the Dangote Project in Cameroon whilst on February 12, 2016, Form A number AA2649626 was used to transfer over 420million for spare parts in Congo, also in contravention of the CBN directive.”

“To further highlight the brazenness of these actions, it recently came to light that the suspended CBN Governor, Godwin Emefiele, had borrowed USD 1 billion from Afrexim Bank in the second quarter of 2023, USD 750 million of which was illegally funneled to Dangote at a concessionary rate. These funds were subsequently transferred to Dangote’s account abroad just as previously done in the past.”

“Your Excellency, as the beacon of hope for our nation’s financial integrity, your swift action is desperately needed to rectify these glaring injustices. We implore you to order a comprehensive and immediate investigation into these flagrant violations of our financial laws.”

“We call upon you to ensure these stolen funds are returned and used for the betterment of our nation under your committed administration. This enforcement is essential not just to deter future violations but also to underscore the ethos of accountability and transparency that your administration represents. We enjoin you to direct the EFCC, ICPC, DSS and other relevant security agencies to investigate these illegal acts against our economy and ensure these funds are returned.”

“The time for a new era has come—an era where the rule of law supersedes illicit privileges, and economic justice becomes our national cornerstone. By addressing this issue decisively, you will send a powerful message that corruption, in all its forms, will no longer be tolerated in our country.”

“Thank you for your prompt attention to this urgent matter.

Yours faithfully,

Ahmed Fahad
A Concerned Nigerian and Social Justice Advocate”.

Below are Documents attached to the letter;

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Kwara Gov congratulates Segun Adebayo on NALDA appointment, thanks President Tinubu




Kwara State Governor AbdulRahman AbdulRazaq congratulates Mr. Cornelius Oluwasegun Adebayo on his appointment as Executive Secretary/Chief Executive Officer of the National Agricultural Land Development Authority (NALDA).

The Governor commends President Bola Tinubu for again considering a Kwaran for another top appointment.

Governor AbdulRazaq is upbeat that the appointee will deliver beyond expectations, justify the confidence reposed in him by Mr. President, and make the state proud as he joins the Renewed Hope Agenda’s team.

The Governor prays Almighty God to guide the new NALDA chief and give him outstanding success in the new role to the glory of God and the benefit of the whole country.

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Kwara Gov commiserates with Plateau over school building collapse, deaths




Kwara State Governor AbdulRahman AbdulRazaq sends his sincere condolences to the people and Government of Plateau State on the unfortunate collapse of a school building in the state capital Jos and the resulting deaths of many schoolchildren and teachers.

The Governor says the incident is sad and devastating, specifically commiserating with Governor Caleb Mutfwang and the families of the victims.

The Governor commends the state government and all the emergency responders for the swift response to the incident.

He asks God to repose the souls of the victims, and wishes safe and quick recovery for those who were injured in the school building collapse.

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Lagos Lawmakers Invite Attorney-General Over Supreme Court Judgement On LGs




  • commend Police for successful operation against kidnappers
  • applaud First Lady Remi Tinubu for encouraging gardens

The Lagos State House of Assembly has invited the Attorney-General of the State, Mr. Lawal Pedro, to appear before it to explain the Supreme Court judgement on local governments in the country.

The lawmakers said there was a need for better understanding of the decision of the apex court in relation to some provisions in the Constitution of the country.

A seven-man panel of the Supreme Court had declared on Thursday that the 774 local government councils in the country should receive their funds directly from the Federal Government as well as manage such funds themselves being a tier of government.

The court further declared that allocations to local government councils run by caretaker committees were illegal.

Ruling after a voice vote by lawmakers at plenary on Thursday, the Speaker of the Assembly, Rt. Hon. Mudashiru Obasa, ruled: “There is a need for us to seek clarification and understanding of this judgement. It will be good to invite the Attorney-General to brief us and give his understanding so that we do not run foul of the judgement.”

Meanwhile, the Lagos State House of Assembly has resolved to write a letter of commendation to the Inspector-General of Police, Kayode Egbetokun, over the successful operation by men of the force that led to the elimination of nine kidnappers in the state recently.

A letter of commendation is also to be sent to the Commissioner of Police in Lagos State, Adegoke Mustapha Fayoade, for the efforts of the policemen which led to the fruitful operation.

Speaker Mudashiru Obasa, who presided over the plenary, said the police and men of the force who took part in the operation needed to be commended.

Dr. Obasa agreed with members of the House that letters be sent to Egbetokun and Fayoade further charging them not to relent in keeping the State safe for residents.

He stressed the need for stakeholders to fast-track considerations for the creation of state police to support the federal police system.

The Majority Leader of the House, Hon. Noheem Adams, had earlier recalled how the police launched the operation against some kidnappers in the Ladipo area of the state and eliminated nine of them.

According to him, there has been calm in the area since the operation was carried out.

Noheem added that the Ikorodu area of the state which hitherto had issues of kidnapping now enjoys relative peace.

In another development, the House of Assembly has applauded the First Lady of Nigeria, Senator Oluremi Tinubu, for seeking to encourage subsistence agriculture.

The Speaker said it was a beautiful idea to encourage Nigerians to have gardens in their houses arguing that this would help to create food sufficiency.

He recalled that schools had farms in the past adding that current situations call for a return to that period.

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Mega Awareness 2023