Farouk Ahmed, the chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has resigned following a meeting with President Bola Tinubu
Tinubu, on Wednesday, summoned Ahmed to the Presidential Villa in Abuja, following allegations of economic sabotage and corruption.
Earlier, Chairman of the Dangote Group, Aliko Dangote, accused Ahmed of being involved in multimillion-dollar corruption.
Speaking at a press conference at the Dangote Petroleum Refinery on Sunday, he accused the leadership of the NMDPRA of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products.
Dangote claimed that Ahmed was living beyond his legitimate means, adding that four of his children attend secondary schools in Switzerland at costs running into several million of dollars.
He said such expenditure raised serious questions about potential conflict of interest and the integrity of regulatory oversight in the downstream petroleum sector.
On Monday, he expanded his allegations, accusing Mr Ahmed of corruption and misappropriation of public funds, and providing estimated figures for his children’s education abroad.
According to him, Ahmed spent about $5 million on secondary education and upkeep over six years, and an additional $2 million on tertiary education, including $210,000 for Faisal Farouk’s 2025 Harvard MBA.
On Tuesday, Dangote submitted a petition to the anti-graft agency, ICPC, through his lawyer, Ogwu Onoja, a Senior Advocate of Nigeria (SAN), calling for Mr Farouk’s arrest, investigation, and prosecution for allegedly living above his means as a public officer.
The petition, addressed to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) Chairman Musa Aliyu, alleged that Mr Ahmed “spent without evidence of lawful means of income amounting to over $7 million for the education of his four children” in Switzerland. It provided the children’s names, schools, and specific amounts for verification.
Dangote further accused Ahmed of using his position to embezzle public funds, prompting protests from civil society groups.
He cited section 19 of the ICPC Act, which empowers the commission to investigate and prosecute corrupt practices, noting that a successful prosecution could result in a five-year jail term without an option of fine.
He urged the ICPC to act decisively, stressing that he remained available to provide evidence supporting his claims.