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Customers panic as Polaris bank, staff allegedly steal customer’s N16 billion

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Polaris bank and one of its staff, Chinenye Duru are in trouble for allegedly withdrawing the sum of N16 billion from the account of a customer, Victor Onukaogu also known as Daddy Hezekiah who is the founder of Living Christian Mission, Onitsha, Anambra state.

At the Federal High Court (FHC), Abuja, on Friday, Justice Inyang Ekwo ordered the Polaris bank staff, Chinenye Duru, who is also the account officer to Mr Victor Onukogu, to be remanded in prison over alleged N16.6 billion fraud.

Justice Inyang Ekwo gave the order after Duru was arraigned by the office of the Inspector-General (I-G) of Police and pleaded not guilty to the 11-count charge preferred against him.

According to the News Agency of Nigeria (NAN), while the I-G is the complainant in the charge marked: FHC/ABJ/CR/603/2023, Polaris Bank Plc and Duru are 1st and 2nd defendants.

Upon resumed hearing, I-G’s counsel, Abdulrasheed Sidi, informed the court that the matter was fixed for arraignment.

But Duru’s lawyer Chukwuemeka Kalu, said though they were ready for the plea, the prosecution was in contempt of the FHC’s order and cannot be heard

“When I finish with the plea, you can say what you want to say,” Justice Ekwo declared.

Adedapo Adejumo, who appeared for Polaris Bank, said a plea of not guilty should be entered for his client.

After the 11 counts were read to Duru and he pleaded not guilty, Sidi applied for a date for trial.

But Kalu said on the taking of plea, a fundamental issues on the conduct of the prosecution had been raised.

The lawyer said though he was not objecting to a date for trial, he said during Duru’s detention, they approached the court for the enforcement of his right.

“The matter was before your learner brother, Hon. Justice D.U. Okorowo, who ordered for the interim release of the 2nd defendant on bail.

“The conditions for the bail were fulfilled on this same matter between the parties

“It was based on whether the prosecution will continue with investigation or prosecution of the 2nd defendant while the EFCC is doing the same,” he said.

Kalu said despite serving the court order on the I-G, they refused to comply with the directive, “upon which we commenced a contempt proceeding against him before this court.”

He said Forms 48 and 49 had been served on the I-G.

“We believe the Inspector-General of Police cannot take this court for granted on this same matter by bringing the 2nd defendant before the court,” he added.

The judge told Kalu that what was before him currently was a charge against Duru which plea had been taken.

He said if the lawyer had any objection to the trial proceedings or any other matter relating to the charge, he should look at the provisions of the Administration of Criminal Justice Act (ACJA) and comply with it and the court would look at his application and make a decision.

“I cannot preside over the proceedings even though it is the same court, it is presided over by a different judge.

“If you have any issue, you will spend time looking at how to approach it as prescribed by the law.

“Plea has been taken, I have to take two decisions, one is on the remand of the 2nd defendant and the other is the date for trial,” the judge said.

But Kalu said he had the order for his release before the court and that under Section 158 of the ACJA, the court had the power to admit the Duru to bail.

“Where is your application for bail?” Justice Ekwo asked.

The lawyer responded that they were standing on the already existing order by Justice Okorowo.

“Did you file it?,” the judge asked.

“We did not but the order is already before the court,” he responded.

Justice Ekwo then said that he would make two orders; one for the trial and the other for Duru’s remand, but if Kalu files the bail application, a date would be given to hear it.

“How many witnesses are you calling?” he asked the police lawyer and Sidi said five witnesses.

The judge, who adjourned the matter until April 23, April 24 and April 25 for trial, ordered Duru to be remanded in a correctional centre pending further orders of the court.

NAN reports that in count one, Polaris Bank and Duru were alleged to have between Nov. 17, 2017, and Aug 14, 2023, fraudulently withdrew from Onukogu Victor Hezekiah’s account numbers: 1040495455 and 1060104735, domiciled with the bank the sum of N16 billion and N500 million.

It said that knowing that the said money did not belong to them, “and knowing the same act was wrong with the intention of converting same to your personal use and thereby committed an offence contrary to Section 21 (a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition Act, 2022.

In count four, the defendants were alleged to have between Nov. 17, 2017 and Aug. 14, 2023, fraudulently withdrew the sum of N75. 534 million from Onukogu’s account number: 4010023601 contrary to Section 18 (2) of the Money Laundering (Prevention and Prohibition Act, 2022.

In count six, they were alleged to have fraudulently withdrew the sum of N13.3 million from Hezekiah University’s account number: 40910106770.

The defendants were also alleged to have fraudulently withdrew the sum of N16.3 million between the same date from Hezekiah University’s account number: 411054152 without any authorisation from the account owner with the intention of converting same to their own personal use contrary to the Money Laundering Act, among other counts.

 

 

 

 

 

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Dangote Refinery to supply 1.5bn litres of petrol monthly

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….Writes NMDPRA, Engages Marketers to Stabilise Fuel Market

Photo caption: L R: Chief Executive Officer, Dangote Fertiliser Limited, Vishwajit Sinha; Chief Executive Officer and Managing Director, Dangote Petroleum Refinery, David Bird; President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.

Dangote Petroleum Refinery has announced plans to supply one billion five hundred million litres of Premium Motor Spirit (PMS) monthly to the Nigerian market in December 2025 and January 2026, a move aimed at ensuring uninterrupted nationwide fuel availability through the festive season and into the New Year.

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, disclosed the plans at the weekend, noting that the refinery will make available 50 million litres of PMS daily beginning December 1.

“In line with our commitment to national wellbeing, and consistent with our track record of ensuring a holiday season free of fuel scarcity, the Dangote Petroleum Refinery will supply 1.5 billion litres of PMS to the Nigerian market this month. This represents 50 million litres per day. We are formally notifying the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of this commitment. We will supply another 1.5 billion litres in January and increase to 1.7 billion litres in February, which translates to about 60 million litres per day,” Dangote said.

Photo caption: L R: President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.

Speaking during a visit by the South-South Development Commission (SSDC) to the refinery and the Dangote Fertiliser complex, he stated that the facility currently has adequate stock and is producing between 40 and 45 million litres of PMS daily. He added that the daily supply of 50 million litres should dispel long-standing claims that domestic refineries lack the capacity to meet national demand.

Dangote also revealed ongoing engagement with petroleum marketers to strengthen distribution systems, including expanding the use of CNG-powered haulage.

“Our priority is to ensure Nigeria receives the products it needs. This is not driven by profit motives; it is about guaranteeing the availability of essential energy products. It is similar to the transformation we delivered in the cement sector,” he added.

He further noted that the refinery is progressing with its expansion plan to reach a capacity of 1.4 million barrels per day. More than 100,000 workers are expected to be involved in the expansion of both the refinery and the fertiliser complex. Dangote emphasised that the Group remains committed to its vision, driven by the strong public support for the company’s role in shaping Nigeria’s economic development.

During the visit, the Managing Director of SSDC, Usoro Offiong Akpabio, commended Dangote’s leadership and his continued contribution to strengthening Nigeria’s industrial capability, national energy security and long-term economic competitiveness.

She described the South-South region as Nigeria’s natural energy corridor, with vast crude oil reserves, gas infrastructure, maritime assets, agro-industrial activity and emerging industrial clusters. She noted that deeper collaboration between the region and the Dangote Group could unlock opportunities in product distribution, CNG infrastructure, petrochemicals, agriculture, and employment creation.

Akpabio added that such partnerships would advance the Federal Government’s energy stability agenda and position the South-South as a strategic growth hub for the Dangote Group.

“As the statutory development body for the South-South, SSDC is mandated to drive regional economic development, infrastructure integration, human capital advancement, and private-sector–led growth. In this regard, we stand prepared to support State-level policy and regulatory support for Ease-of-doing-business across our six states. Enabling environments for Dangote Group’s expansion into strategic sectors such as gas processing, agro-industrial value chains, renewable energy, logistics, and export-oriented manufacturing,” she said.

In a letter from the refinery’s Managing Director, David Bird, to the Authority Chief Executive of the NMDPRA, the company reaffirmed its readiness to host NMDPRA officials onsite at the refinery from December 1st to verify and publish its daily supply volumes. The refinery also sought the Authority’s support to ensure unhindered importation of crude, feedstocks and blending components, as well as smooth vessel loading for product evacuation.

“In the spirit of full transparency to the public we are willing to publish our daily production and stock volumes (online and print media),” Bird stated. “We seek the full support of NMDPRA to allow Dangote refinery to import our crude, feedstocks and blending components unhindered as well as support the lifting of our products by vessel. We continue to experience delays in vessel clearance which impacts not only the refinery operations but also our customers, adding unnecessary costs and inefficiencies”.

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By Bonaventure Phillips Melah

Photo caption: L R: Chief Executive Officer, Dangote Fertiliser Limited, Vishwajit Sinha; Chief Executive Officer and Managing Director, Dangote Petroleum Refinery, David Bird; President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.

Dangote Petroleum Refinery has announced plans to supply one billion five hundred million litres of Premium Motor Spirit (PMS) monthly to the Nigerian market in December 2025 and January 2026, a move aimed at ensuring uninterrupted nationwide fuel availability through the festive season and into the New Year.

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, disclosed the plans at the weekend, noting that the refinery will make available 50 million litres of PMS daily beginning December 1.

“In line with our commitment to national wellbeing, and consistent with our track record of ensuring a holiday season free of fuel scarcity, the Dangote Petroleum Refinery will supply 1.5 billion litres of PMS to the Nigerian market this month. This represents 50 million litres per day. We are formally notifying the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of this commitment. We will supply another 1.5 billion litres in January and increase to 1.7 billion litres in February, which translates to about 60 million litres per day,” Dangote said.

Photo caption: LR: President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.

 

Speaking during a visit by the South-South Development Commission (SSDC) to the refinery and the Dangote Fertiliser complex, he stated that the facility currently has adequate stock and is producing between 40 and 45 million litres of PMS daily. He added that the daily supply of 50 million litres should dispel long-standing claims that domestic refineries lack the capacity to meet national demand.

Dangote also revealed ongoing engagement with petroleum marketers to strengthen distribution systems, including expanding the use of CNG-powered haulage.

“Our priority is to ensure Nigeria receives the products it needs. This is not driven by profit motives; it is about guaranteeing the availability of essential energy products. It is similar to the transformation we delivered in the cement sector,” he added.

He further noted that the refinery is progressing with its expansion plan to reach a capacity of 1.4 million barrels per day. More than 100,000 workers are expected to be involved in the expansion of both the refinery and the fertiliser complex. Dangote emphasised that the Group remains committed to its vision, driven by the strong public support for the company’s role in shaping Nigeria’s economic development.

During the visit, the Managing Director of SSDC, Usoro Offiong Akpabio, commended Dangote’s leadership and his continued contribution to strengthening Nigeria’s industrial capability, national energy security and long-term economic competitiveness.

She described the South-South region as Nigeria’s natural energy corridor, with vast crude oil reserves, gas infrastructure, maritime assets, agro-industrial activity and emerging industrial clusters. She noted that deeper collaboration between the region and the Dangote Group could unlock opportunities in product distribution, CNG infrastructure, petrochemicals, agriculture, and employment creation.

Akpabio added that such partnerships would advance the Federal Government’s energy stability agenda and position the South-South as a strategic growth hub for the Dangote Group.

“As the statutory development body for the South-South, SSDC is mandated to drive regional economic development, infrastructure integration, human capital advancement, and private-sector–led growth. In this regard, we stand prepared to support State-level policy and regulatory support for Ease-of-doing-business across our six states. Enabling environments for Dangote Group’s expansion into strategic sectors such as gas processing, agro-industrial value chains, renewable energy, logistics, and export-oriented manufacturing,” she said.

In a letter from the refinery’s Managing Director, David Bird, to the Authority Chief Executive of the NMDPRA, the company reaffirmed its readiness to host NMDPRA officials onsite at the refinery from December 1st to verify and publish its daily supply volumes. The refinery also sought the Authority’s support to ensure unhindered importation of crude, feedstocks and blending components, as well as smooth vessel loading for product evacuation.

“In the spirit of full transparency to the public we are willing to publish our daily production and stock volumes (online and print media),” Bird stated. “We seek the full support of NMDPRA to allow Dangote refinery to import our crude, feedstocks and blending components unhindered as well as support the lifting of our products by vessel. We continue to experience delays in vessel clearance which impacts not only the refinery operations but also our customers, adding unnecessary costs and inefficiencies”.

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Dangote expands presence in Africa, signs $1b investment deal for cement, energy in Zimbabwe

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Africa’s richest man and the Chief Executive Officer (CEO) of Dangote Group, Alhaji Aliko Dangote, has signed a deal to invest over $1 billion in cement and energy in Zimbabwe.

Dangote spoke to journalists after meeting with Zimbabwean President Emmerson Mnangagwa in Harare on Wednesday.

The billionaire businessman said he signed an agreement on behalf of Dangote Group to build cement and power plants as well as a fuel pipeline.

“… we have just actually signed an agreement between Zimbabwe and Dangote Group to do various investments in various sectors, some of which, of course, border on cement, some of it in power generation, and some of it in pipelines to bring petroleum products,” he said.

Dangote said the investment will be worth over $1 billion “because of the pipeline”, noting that the group is planning a couple of other investments in the country.

Speaking on governance in Zimbabwe, he said Mnangagwa transformed the economy, adding that “there is a lot of transparency”.

“And also, when you look at what His Excellency has actually done in terms of turning the economy around, that really gave us the confidence that this is the right time for us to come and invest,” Dangote said.

“And, you know, it’s like somebody, when you pass the exam, people have to give you a good mark. So His Excellency has passed that exam.”

Dangote previously expressed interest in similar investments in Zimbabwe in 2015, including plans for his Dangote Cement Plc to build a $400 million plant with a processing capacity of 1.5 million tons annually.

With the latest deal signing, Dangote is adding Zimbabwe to his list of investment destinations across the continent, which includes Ethiopia and Zambia.

On October 5, the Dangote Group commenced the construction of a $2.5 billion fertiliser plant in Gode, Ethiopia.

The project, a joint venture between the conglomerate and the Ethiopian Investment Holdings (EIH), is expected to have an annual production capacity of three million metric tonnes of urea, positioning it among the largest fertiliser complexes in the world.

Dangote Cement had also built a 1.5 million tonnes per annum (mta) plant in Zambia. The plant began operations in the second quarter (Q2) of 2015, according to information on the company’s website.

 

 

 

 

 

 

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