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FG benefits more from naira-for-crude deal than Dangote – Official

Harrison EDEH
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FG benefits more from naira-for-crude deal than Dangote – Official

The Chief Executive Officer (CEO) of Dangote Petrochemical Refinery, David Bird, said on Wednesday that the Federal Government is the primary beneficiary of the Naira-for-crude swap deal, highlighting foreign exchange gains from the strengthening of the naira as the government’s main advantage.

Bird, who disclosed this on Arise Television’s “The Morning Show”, argued that the federal government had made more money from the deal, which has ensured foreign exchange stability and de-dollarisation of the economy, and strengthened the naira.

“Crude-for-Naira is not there to benefit the Dangote Refinery. The deal is to provide resilience to foreign exchange. It is for the benefit of the country to process domestic crude in a domestic currency, “Bird said.

He affirmed that the swap deal helped the Nigerian economy to rely less on dollars for its transactions and stabilise the foreign exchange market, which had previously experienced volatility.

“The deal wasn’t put in place to benefit Dangote Refinery, as we still purchase at international crude rates and at international pricing template, although without foreign exchange problems, “Bird stated.

The CEO further expressed regret over the inability of the Nigerian government to meet its domestic crude allocation contract-agreement, despite paying the international benchmark pricing cost.

“The government needs to be more transparent in its crude allocation to the company to meet domestic consumption. Currently, we get five cargoes monthly allocation as against 13-15 cargoes monthly pre-agreed contract. The 13-15 cargoes monthly is what is required to meet the domestic consumption, which we are not getting currently,” he stated further.

Bird explained that the shortfall from the government had prompted the company to buy at a higher cost at the international crude market, while urging the government to maintain the pre-contract agreed terms on crude allocation.

“Not only do we not get the full pre-contract allocation, but we also don’t get the crude grade preferences. However, given our preference for Nigerian grades, we find them at a $18 higher price premium in the international crude market despite being denied the full domestic allocation at home.

He noted that the global test for crude had given much preference for the Nigerian crude in the international market

He suggested that the Nigerian National Oil Company should have more strategic reserves in partnership with industries to think ahead to manage uncertainties like the United States-Iran War.

“Disruptions in supply chains are conversations that must be sustained in gas, coal, critical minerals and the government has to lead the role in thinking the unthinkable.

The ICIR reports that the United States-Iran conflict has put intense pressure on Nigerians buying fuel at an average of N1,400 currently in several parts of the country.

According to oilprice.com brent crude currently sells for $100 per barrels leaving more money in the hands of the Nigerian government, with most Nigerians tightening their belt to adjust to the rising transport and food costs.

This is even as Nigerians continue to seek pricing-relief from the government, with transport costs and other logistics going higher by the day.

Experts dismiss Adelabu’s pledge to fix electricity in two weeks

Harrison EDEH
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Experts dismiss Adelabu’s pledge to fix electricity in two weeks

NIGERIANS may have to wait longer for solutions to epileptic power supply in the country, despite the two-week assurance from the Minister of Power, Adebayo Adelabu.

Some power sector governance experts who spoke against the backdrop of the minister’s assurance said there were no quick remedies to Nigeria’s power sector problems.

On Tuesday, March 24, the minister of power, whose performance has been rated very low by Nigerians, apologised for the poor power supply and promised that the problems would be solved in two weeks.

“I want to apologise, coming from me as a minister of power, for this temporary issue that is leading to hardship being experienced,” he said.

Adelabu said the apology was necessary given the dry season, which has caused extreme heat and disrupted businesses, schools, and industries.

He said the Federal Government had taken decisive steps to address persistent gas supply challenges in the power sector, noting that the Middle East tension had created a market for Nigerian gas companies, as they are uninterested in vending to the Nigerian power sector due to indebtedness as a result of over N6 trillion debt.

The Minister’s assurances have raised several unanswered questions about the sector, which has been crawling and riddled with debts despite privatisation.

A power sector governance expert, Dan Kunle, believes the minister speaks theory and his knowledge about the sector is not deep enough.

“The crisis was building up since 2015 when the electricity tariffs were frozen for several years, and investors left. Even GENCOs at some point declared force majeure because of growing debts. The producers of gas are handicapped as they need a firm gas-take-and pay contract agreement that is irrevocable.”

Kunle said the gas debts were signs that gas offtake agreements were not honoured and had accumulated over time, worsening the current power problems.

He argued further that the privatisation of the power sector wasn’t properly sustained post -privatisation with the government freezing tariff severally for political reasons, which scared investors.

He stressed the importance of privatising the Nigeria Gas Company to operate on a business basis level.

“Manitoba, which has the concession to manage TCN left back to Canada and TCN has been underperforming. It’s a value chain problem in the power sector. No quick fixes, and we must do the right thing,” he stressed.

Kunle believes that the entire electricity structure has to be overhauled.

Another power sector governance expert, Kunle Kola Olubiyo, told The ICIR that the inability of the Nigerian government to honour debt obligations to the power generation companies remained a major concern for the sector.

“The gas producers are owed arrears of about N6 trillion. This is even the cost of gas already supplied and sold to gas thermal and gas fired power generation plants. The gas producers said they were not willing to sell more gas to the electricity sector because of violations of gas take-off contracts,” he stated.

Despite privatisation, the Nigerian Independent System Operator (NISO) has not released more than 5000 megawatts of power to distribution companies over time.

The ICIR reports that the 11 power Distribution Companies (DisCos) on Tuesday, March 24, received 2,793 Megawatts(MW) of electricity from the Nigerian Electricity Supply Industry (NESI).

A breakdown of the 2,793MW sent by Nigerian Electricity Supply Industry (NESI), the nation’s power system operator, showed Abuja DisCo receiving 503MW. It was followed by Ikeja DisCo, 497MW; Eko DisCo, 424MW; Ibadan DisCo 314MW; Benin DisCo, 212MW; Enugu DisCo, 203MW; Port Harcourt DisCo, 183MW; Kano DisCo, 142MW; Kaduna DisCo, 133MW; Jos DisCo, 119MW; and Yola DisCo 63MW.

Police arrest man for shouting ‘no water, no light’ during Bago’s Suleja visit

Esther Tomo
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Police arrest man for shouting ‘no water, no light’ during Bago’s Suleja visit

THE NIGER State Police Command has confirmed the arrest of a 38-year-old Suleja resident, Hamisu Abdullahi, after he protested the lack of basic amenities during a visit by the state Governor Mohammed Bago.

The incident occurred at the Emir of Suleja’s palace shortly after Eid-el-Fitr prayers, where the man was said to have shouted “no water, no light” in the presence of the governor.

According to report, police spokesperson, Wasiu Abiodun, a superintendent of police, said the suspect was taken into custody for actions considered capable of disrupting official activities during the Sallah visit.

“One Hamisu Abdullahi, 38, of Suleja, was arrested and transferred to the State Criminal Investigation Department (SCID), Minna, on March 20, 2026, for suspected thuggery and attempting to disrupt government activities during the Sallah visit,” he said.

Abiodun added that Abdullahi was later granted bail while investigations into the matter continued.

Confirming his release, the suspect’s brother said Abdullahi regained freedom Tuesday evening after spending several days in detention.

Abdullahi, an electrician and father of four living in Unguwan Bayi area of Suleja, was initially held at the Suleja police division before being moved to the State Criminal Investigation Department in Minna.

He alleged that he paid N50,000 to secure his release, according to a report by Sahara Reporters.

“I was released on bail on Tuesday evening. The police at the CID office police headquarters collected N50,000 from me for bail, and I was locked up at the Suleja police division the very day the incident happened on the orders of Bago before I was moved to CID in Minna on Saturday,” he said.

He further stated that he had been directed to report back to the police headquarters in Minna as part of his bail conditions.

Abdullahi also claimed that he was physically assaulted by one of the governor’s aides at the scene before his arrest.

“An aide to the governor slapped me in the presence of the governor the day the incident happened at the Emir’s palace before asking police to take me into their custody,” he further alleged.

The Chief Press Secretary to the governor, Bologi Ibrahim, said he was not aware of the incident when contacted.

The ICIR reports that Bago has faced significant criticism and allegations of misuse of power, particularly on issues bothering on media freedom, handling of dissents, and authoritarian behavior.

Key instances include his closure of Badeggi FM Radio in August 2025. accusing it of inciting the public against his administration. This action was condemned and viewed by civil society organisations, including Amnesty International and Nigeria’s leading opposition party – the African Democratic Congress (ADC) as an attack on press freedom.

The governor ordered security operatives to seal the station and revoke its license without going through the National Broadcasting Commission (NBC) legally designated with such power.

A video circulated in July 2024 showing the governor ordering his security detail to slap and arrest an Islamic cleric during a ceremony in Minna. This sparked outrage, with many viewing it as a clear abuse of power and a violation of human rights.

Reports have highlighted the arrest of citizens, including a student, for criticising the governor on social media. A former All Progressives Congress (APC) gubernatorial aspirant was reportedly detained for over two weeks in November 2025 following criticism of the state’s agricultural policies.

The International Press Institute (IPI) Nigeria added Bago to its “Book of Infamy” for actions deemed detrimental to journalism, specifically for crackdown on the media.

These actions have prompted calls for intervention from civic groups, including petitions to the United States government requesting a visa ban and the freezing of the governor’s assets, citing a “persistent pattern of human rights violations” and “disregard for democratic principles”.

Earlier this week, the International Press Institute Nigeria called on Bola Ahmed Tinubu to caution the governor over actions it said could negatively affect press freedom.

In a statement signed by its Deputy President, Fidelis Mbah, and Legal Adviser, Tobi Soniyi, the organisation expressed concern that recent developments in the state might limit the ability of journalists and media organisations to carry out their duties.

EFCC evicts Malami, family from Abuja residence amid court battle

Nanji Nandang VENLEY
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EFCC evicts Malami, family from Abuja residence amid court battle

Former Attorney-General of the Federation, Abubakar Malami, has accused the Economic and Financial Crimes Commission (EFCC) of violently ejecting him and his family from their Abuja home.

He described the action as a blatant disregard for due process, given the ongoing litigation between him and the Nigerian government.

Addressing journalists on Tuesday, Malami said EFCC operatives invaded his Maitama residence on Monday and returned the following day with heavily armed reinforcements to complete what he termed a “forceful and unlawful takeover.”

“Yesterday, without further recourse to the court, without seeking an order to seal my properties, without seeking an order to evict my family members and me from the property, without seeking a court order for the appointment of a receiver manager, the EFCC came to effect a forceful eviction. They were unable to conclude the process yesterday and reinforced this morning with a lot of personnel that are armed and indeed forcefully took over possession of my family residence,” he said.

Malami explained that the property, his family home at No. 2 Koronakh Close, off Amazon Street, Maitama, was linked to an interim forfeiture order granted on January 6, 2026, insisting that the order did not empower the EFCC to remove occupants or assume immediate possession.

“The most interesting part of the order was that there was no clear directive or instruction… that the premises would be taken over forthwith or perhaps is being sold, or perhaps evicting the occupants,” he said.

He said he had challenged the forfeiture at the Federal High Court, with the matter adjourned to April 20, 2026. He stressed that the commission’s actions risked undermining judicial authority.

“It is only natural, logical and judicial that no party is expected to overreach by taking unilateral steps that would place a court in a situation of purposelessness. Execution of court orders and processes is an exclusive function of court bailiffs and sheriffs… and is not in any way the prerogative of a party to the litigation,” he stated.

Malami further argued that only court-appointed bailiffs, not litigants are legally empowered to enforce such orders, describing the EFCC’s conduct as “judicially unprecedented” in Nigeria’s legal system.

He alleged that the decision could have political undertones since the incident occurred shortly after his release from detention and amid a surge of public support and visits.

“The fact that these things happen at a time when I was receiving tremendous goodwill messages… can certainly be a basis for people to insinuate perhaps political persecution,” he said.

The former minister vowed to challenge the eviction in court, insisting that legal remedies would be pursued to address what he called an abuse of power.

Meanwhile, the EFCC spokesperson, Dele Oyewale, pushed back against Malami’s claims when contacted by The ICIR.

He said the operation was lawful and grounded in a valid court order.

“He was not forcefully ejected. His family was not forcefully ejected. What the commission did and is still doing is to enforce Section 5 (B) of the Process of Crime Act, POCA, which allows for possession of property that is forfeited by a court order. So, 57 of such properties were forfeited by a court order.

“It’s an interim forfeiture order. And what the commission is doing is to give effect to that section of the POCA Act,” Oyewale added.

Responding to Malami’s claim that the matter was still before the court and should not have been enforced, the EFCC maintained that the existence of an ongoing case would not invalidate a standing court order.

“As long as that court order is subsisting and there is no contrary order of the court against it, it is still standing. There is a forfeiture order. If there is an order of the court, if that order has not been factored, if that order has not been reversed, it is subsisting. So, I don’t know what he’s talking about,” he added.

Oyewale also questioned whether Malami had secured any counter-order nullifying the forfeiture, arguing that without such legal reversal, the commission was within its rights to act.

The ICIR reported that Malami served as the AGF from 2015 to 2023 under the late President Muhammadu Buhari, where he became one of the most influential figures in the cabinet and a central actor in several major legal and political decisions.

He was also widely regarded as one of Buhari’s most loyal allies, often defending controversial government policies and legal actions. Malami was also central to the administration’s alleged selective anti-corruption drive, with critics accusing him of selective prosecution and political interference.

His tenure courted controversies, including allegations of financial irregularities, handling of recovered looted funds and legal interpretations that shaped the Buhari administration’s posture on human rights and press freedom.

In 2020, he was accused of interfering in the prosecution of some high cases such as the Malabu Oil case, former Senate President Bukola Saraki and former Gombe State Governor, Danjuma Goje.

Also in August 2020, a coalition against corruption called on Buhari to probe Malami for allegations ranging from financial sleaze involving him and his family to influence peddling.

Recall that shortly after leaving office in August 2023, the Independent Corrupt Practices and other related offences Commission (ICPC) probed him over allegations of corruption and abuse of office.

IWMF seeks entries for Elizabeth Neuffer Fellowship

Blessing OTOIBHI
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IWMF seeks entries for Elizabeth Neuffer Fellowship

THE International Women’s Media Foundation (IWMF) seek applications for the 2027 edition of the Elizabeth Neuffer Fellowship.

The Fellowship provides academic and professional opportunities to advance the reporting skills of women and nonbinary journalists who focus on human rights and social justice.

The Fellowship was created in memory of The Boston Globe correspondent and IWMF Courage in Journalism Award (1998) winner Elizabeth Neuffer, who died while reporting in Iraq on May 9, 2003.

In collaboration with Neuffer’s family and friends, the IWMF started this fellowship to honour Neuffer’s legacy while advancing her work in the fields of human rights and social justice.

The programme is designed for women and nonbinary journalists with at least three years of professional experience in journalism working in print, broadcast, or digital media, either as a staff journalist or as a freelancer.

Organiser says, “All nationalities are welcome to apply, but non-native English speakers must have excellent written and verbal English skills in order to fully participate in and benefit from the programme”.

The fellow will complete research and coursework at MIT’s Centre for International Studies and journalism internships at The Boston Globe and The New York Times. The flexible structure of the programme provides fellows with opportunities to pursue academic research and hone their reporting skills.

The application deadline is April 19, 2026. Interested applicants can apply here.

 

Bauchi Radio demands DPO suspension over attack on reporter

Esther Tomo
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Bauchi Radio demands DPO suspension over attack on reporter

THE MANAGEMENT of Albarka Radio 97.5 FM has demanded that the Bauchi State Police Command suspend Jamilu Kabir, a superintendent of police (SP) and the Divisional Police Officer of Bununu Division.

The call followed an attack on one of its reporters during the Sallah celebrations in the state at the weekend.

The station also demanded that the officer face strict penalties if found guilty of assaulting the reporter.

The reporter was reportedly “brutalised by the DPO and his team” while trying to enter the Sallah Durbar area in Bununu, Tafawa Balewa Local Government Area.

Several media organisations and civil society groups, including the Nigeria Union of Journalists, Media Rights Agenda, the West Africa Editors Society, called for a proper probe into the incident.

In a statement, the General Manager of Albarka Radio, Dauda Ciroma, said the assault was a “vicious, unprovoked and dehumanising assault,” adding that “This act of high-handedness, overzealousness and sheer irresponsibility disguised as policing is not only condemnable but has no place in any civilised society.

“To attack a journalist carrying out his lawful duty is to attack the very soul of democracy and a violation of press freedom as enshrined in the Constitution of the Federal Republic of Nigeria.”

The station warned that the attack had strained the relationship between it and the police.

“It is imperative to state that the cordial relationship between Albarka Radio and the Bauchi State Police Command is being tested by the reckless actions of the erring DPO and his men. While we acknowledge that their conduct does not represent the entire police force, we insist that the full weight of the law must be applied as a deterrent.”

The Bauchi State Police, through spokesperson Nafiu Abubakar, said the Commissioner had condemned the attack and set up an investigation.

Alleged corruption: El-Rufai detained till March 31 as court adjourns bail hearing

Mustapha USMAN
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Alleged corruption: El-Rufai detained till March 31 as court adjourns bail hearing

A FEDERAL High Court sitting in Kaduna has adjourned the hearing of the bail application filed by former Kaduna State governor, Nasir El-Rufai, to March 31, 2026.

The adjournment followed proceedings on Tuesday, March 24, during which counsel to both the defence and prosecution presented arguments for and against the application.

At the hearing, defence counsel, Ukpon Akpan, urged the court to grant bail, citing the defendant’s constitutional rights and the need to prepare adequately for trial.

However, the prosecution opposed the request as he argued that the charges were serious and that granting bail could interfere with ongoing investigations.

The ICIR reported that the former governor was being prosecuted by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) alongside one Joel Adoga over allegations bordering on corruption, abuse of office, and money laundering.

Background

According to court documents sighted by The ICIR, the charges, marked FHC/KD/73/202, stemmed from allegations that El-Rufai unlawfully received about N579 million as severance allowance in two tranches in 2020 and 2023, far exceeding the legally approved entitlement of about N20 million.

The ICPC further alleged that the former governor received $320,800 through multiple transfers into his domiciliary account between 2017 and 2023 from different individuals, funds it claims were proceeds of unlawful activities.

In additional counts, prosecutors accused him of receiving other foreign currency payments, including $305,300 and $155,800 from individuals said to be at large.

The commission also alleged that he conspired with his co-defendant in 2019 to conceal the origin of $10,000 paid into his account.

It noted that these actions contravened provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

El-Rufai’s arrest, detention, mounting allegations

El-Rufai’s arrest by the ICPC followed an earlier invitation by the Economic and Financial Crimes Commission (EFCC), where he reportedly presented himself on February 16 over alleged financial improprieties during his tenure between 2015 and 2023.

In 2024, the Kaduna State House of Assembly indicted him over the alleged diversion of N423 billion in public funds and recommended his probe by anti-graft agencies.

El-Rufai, who was initially granted bail after spending two nights in EFCC custody, was subsequently re-arrested by security operatives. A Federal High Court in Abuja later declined to entertain his bail application, ruling that it was premature until he is formally arraigned.

Some Nigerians, including his allies in the African Democratic Congress (ADC), namely former vice president Atiku Abubakar and former Anambra State governor Peter Obi had urged the EFCC to charge him in court after describing his arrest and detention as politically motivated.

WHO demands swift global action to end tuberculosis

Esther Tomo
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WHO demands swift global action to end tuberculosis

THE World Health Organization has called for urgent global action to end tuberculosis (TB), saying the disease remains one of the world’s deadliest infectious killers despite being preventable and treatable.

The call comes as the world marks World TB Day 2026 today March 24, with the campaign themed “Yes! We can end TB: Led by countries, Powered by people.”

In a statement, the WHO said ending TB was no longer just an aspiration but an achievable goal.

“The theme of World TB Day 2026 – ‘Yes! We can end TB!’ –  is a bold call to action and a message of hope, affirming that it is possible to get back on track and turn the tide on the TB epidemic, even in a challenging global environment,” the global health body said.

According to the organisation, an estimated 10.7 million people fell ill with TB in 2024, while 1.23 million deaths were recorded within the same period. Despite these figures, it noted that about 83 million lives have been saved since 2000 through global TB interventions.

The agency warned that progress has slowed in recent years, cautioning that without urgent action, global targets to eliminate the disease might not be met. It emphasised the need to “accelerate efforts” and get the global response back on track.

Reinforcing the global call for collective action, WHO Goodwill Ambassador for TB and HIV/AIDS, Peng Liyuan, said tuberculosis remained a major infectious disease that had long endangered people’s health, urging stronger international cooperation to tackle the burden.

Speaking at a WHO World TB Day event, she commended efforts made so far, noting that global actions had helped to “reverse the recent upward trend in global TB cases.” She also paid tribute to health workers, volunteers, and stakeholders worldwide, and lauding hose who have “devoted themselves to this worthy cause.”

Highlighting national efforts, she said China had made notable progress through coordinated government action, innovation, and expanded healthcare access, contributing to a steady decline in TB incidence.

She further underscored the role of community engagement, especially among young people, describing volunteers as ‘sparks’ that ignite progress in public health, with millions contributing to awareness campaigns and outreach efforts over the years.

The WHO also explained that TB was driven by broader social and economic factors, adding that the disease thrives in conditions of poverty, inequality, and limited access to healthcare.

It called for increased investment in TB programmes and described funding as both a health and economic priority. According to the organisation, “every dollar invested in TB yields significant returns,” reinforcing the case for stronger financial commitment from governments.

The agency further stressed the importance of expanding access to modern tools, urging countries to scale up the use of rapid diagnostics and ensure timely treatment for those affected.

It also advocated for people-centred care, calling for services that are accessible, affordable, and stigma-free, while actively involving communities and civil society in the response.

Reinforcing the role of national governments, the WHO said efforts to end TB must be “led by countries and powered by people,” with stronger domestic ownership of TB programmes.

Peng called for unity across nations and sectors, urging stakeholders to “act, support and participate in global efforts against TB.”

He added that collective commitment was key to building confidence and hope in the fight against the disease.

The organisation also urged individuals and communities to support awareness efforts, reduce stigma, and encourage early testing and treatment.

THE ICIR reports that Nigeria has the highest tuberculosis (TB) burden in Africa and ranks sixth globally, with approximately 590,000 annual infections and 268 daily deaths.

While over 361,000 cases were reported in 2023 (a 26 per cent increase from 2022 due to enhanced tracking), significant under-reporting remains. The disease often hits children and those with HIV.

Iran strikes Israel hours after Trump declared five-day ceasefire

Nanji Nandang VENLEY
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Iran strikes Israel hours after Trump declared five-day ceasefire

IRAN launched multiple waves of missile strikes on Israel on Tuesday, hours after United States President Donald Trump declared a five-day ceasefire.

This was revealed by the Israeli military, which said missile attacks set off air raid sirens across Israel, including in Tel Aviv, where a multi-storey apartment building was left with large, gaping holes, without explaining whether the damage resulted from a direct strike or falling debris from an intercepted missile.

Israel’s Fire and Rescue Service said crews were searching for civilians believed to have been trapped in one building in Tel Aviv, while also locating others sheltering inside a separate damaged structure.

The Israel’s military said on Tuesday that its fighter jets launched a major wave of strikes in central Tehran on Monday, hitting key command centres, including sites linked to the Islamic Revolutionary Guard Corps’ intelligence wing and Iran’s Intelligence Ministry. It added that more than 50 additional targets were struck overnight, including ballistic missile storage facilities and launch sites.

The ICIR reported that Trump on Monday said the United States and Iran held “very good and productive” discussions aimed at a “complete and total resolution of hostilities in the Middle East.”

Trump told reporters that his special envoy, Steve Witkoff, and his son-in-law, Jared Kushner who had been engaged in pre-war negotiations with Iran, held talks with a senior Iranian official into Sunday evening and were set to continue discussions on Monday.

He added that following the discussions, he would delay for five days a planned strike on Iran’s power plants, an action he had threatened if Tehran failed to reopen the Strait of Hormuz.

Iran, in response, threatened that it would target infrastructure belonging to US allies in the Middle East

However, Iran’s Parliament Speaker, Mohammad Baqer Qalibaf, whom an Israeli official and two other sources identified as the Iranian-side interlocutor in the talks, wrote on X that no negotiations had taken place.

Iran’s elite Revolutionary Guards (IRGC) said they were launching new attacks on US targets, dismissing Trump’s remarks as “psychological operations” that were “worn out” and had no effect on Tehran’s campaign.

According to Reuters, a European official noted that no direct negotiations had taken place between Washington and Tehran, with countries including Egypt, Pakistan and several Gulf states instead acting as intermediaries.

The official noted that a Pakistani official and another source said that direct talks aimed at ending the war could be held in Islamabad this week.

According to the Pakistani official, US Vice President JD Vance, along with Witkoff and Kushner, are expected to meet Iranian representatives following a call between Trump and Pakistan’s army chief, Asim Munir, noting that the White House confirmed the call.

Iranian media also reported that President Masoud Pezeshkian and Pakistani Prime Minister Shehbaz Sharif had discussed the war’s implications for regional and global security.

Iran has effectively shut the strategic waterway, through which about 20 per cent of global oil and liquefied natural gas supplies pass, since the war with the US and Israel began on February 28. The conflict has already claimed more than 2,000 lives.

Trump’s decision to step back had earlier lifted equities and pushed oil prices sharply below $100 a barrel, reversing a market slump triggered by his weekend threats and Iran’s warnings of retaliation, but those gains came under pressure on Tuesday after Iran’s parliament speaker denied that any negotiations had taken place, casting doubt on the market’s earlier optimism.

On Tuesday, US Treasury yields climbed and the dollar recovered as markets continued to absorb the shock of energy supply risks tied to Iran’s threat to shipping in the strait.

Brent crude futures rose 4.2 per cent to $104.21 a barrel, rebounding from a roughly 10 per cent drop the previous day, while US crude gained 4.3 per cent to $91.93 per barrel.

ICPC arraigns El-Rufai over alleged N579m, $320,800 money laundering, others

Mustapha USMAN
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ICPC arraigns El-Rufai over alleged N579m, $320,800 money laundering, others

THE Independent Corrupt Practices and Other Related Offences Commission (ICPC) is currently arraigning former Kaduna State governor, Nasir El-Rufai, and one Joel Adoga before the Federal High Court sitting in Kaduna over alleged money laundering and corruption-related offences.

The ICIR reports that there is heavy security within and around the court, as the former governor, who led the state between 2015 and 2023, personally faces the court in a criminal case in the state for the first time since he became a governor.

The 10-count charge, marked FHC/KD/73/2026, was filed on behalf of the Federal Republic of Nigeria at the Kaduna Judicial Division.

According to the charge sheet dated March 18, 2026, the ICPC accused El-Rufai of unlawfully taking possession of N289.8 million as severance allowance on two occasions in September 2020 and January 2023, bringing the total to about N579 million, far above the legally entitled sum of about N20 million.

The commission alleged that the former governor reasonably ought to have known that the funds formed part of the proceeds of unlawful acts, including corruption, thereby violating provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

“That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in September, 2020 or thereabout at Kaduna, within the jurisdiction of this Honourable Court, while being a public officer as the elected Executive Governor o f Kaduna State, directly took possession of the sum of N289,826,998.12 (Two Hundred and Eighty-Nine Million, Eight Hundred and Twenty-Six Thousand, Nine Hundred and Ninety-Eight Naira, Twelve Kobo) as severance allowance over and above your legitimately entitled sum of N20,013,245.00 (Twenty Million, Thirteen Thousand, Two Hundred and Forty-Five Naira) which represents 300 per cent of your annual basic salary which you reasonably ought to have known that such fund formed part of the proceeds of an unlawful act, to wit: corruption and you thereby committed an offence contrary to Section 18(2)(d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

“That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in January 2023 or thereabout at Kaduna, within the jurisdiction of this Honourable Court, while being a public officer as the elected Executive Governor of Kaduna State, directly took possession of the sum of N289,826,998.12. (Two Hundred and Eighty-Nine Million, Eight Hundred and Twenty-Six Thousand, Nine Hundred and Ninety-Eight Naira, Twelve Kobo) as severance allowance over and above your legitimately entitled sum of N20,013,245.00 (Twenty Million, Thirteen Thousand, Two Hundred and Forty-Five Naira) which represents 300 per cent of your annual basic salary…,” Count one and count two charges read in part.

Prosecutors alleged illicit foreign transfers, conspiracy to conceal funds

In separate counts, the ICPC further alleged that El-Rufai received multiple foreign currency payments into his Guaranty Trust Bank domiciliary account from different individuals.

The prosecution claimed that between September 2017 and March 2023, he took control of $320,800 allegedly paid in tranches by Adoga.

Count 3 read “That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime between September, 2017 and March, 2023 or thereabout at Kaduna and Abuja respectively, within the jurisdiction of this Honourable Court, while being a public officer as the elected Executive Governor of Kaduna State, directly took control of the total sum of $320,800 (Three Hundred and Twenty Thousand, Eight Hundred Dollars) deposited into your Guaranty Trust Bank domiciliary account number: 0023824985 in different tranches by one Joel Adoga, when you reasonably ought to have known that such funds formed part of the proceeds of an unlawful act, to wit: corruption and fraud and you thereby committed an offence contrary to Section 18(2) (d) and punishable under Section 18(3) o f the Money Laundering (Prevention and Prohibition) Act, 2022.”

The charge (count 4,5, 6,7, 8 and 9) also accused El-Rufai of receiving $155,800 from one Peter Akagu Jones, $305,300 from one Ajayi Ayodele, and smaller sums including $5,000, $4,000 and $10,000 from other individuals, all of whom are said to be at large.

“That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime i n May, 2022 or thereabout at Kaduna, within the jurisdiction of this Honourable Court, while being a public officer as the elected Executive Governor of Kaduna State, directly took possession of the sum of $305,300 (Three Hundred and Five Thousand, Three Hundred Dollars) deposited into your Guaranty Trust Bank (domiciliary) account number: 0023824985 by one Ajayi Ayodele (now at large), when you reasonably ought to have known that such fund formed part of the proceeds of an unlawful act, to wit: corruption and fraud and you thereby committed an offence contrary t o Section 18(2) (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022,” Count 5 read.

In Count 10, the commission alleged that El-Rufai and Adoga conspired in July 2019 in Abuja to disguise the origin of $10,000 deposited into the former governor’s domiciliary account, an act said to contravene provisions of the Money Laundering Act.

The offences, it noted, were punishable under Sections 18 and 21 of the Money Laundering (Prevention and Prohibition) Act, 2022.

Count 10 read “That you MALLAM NASIR AHMAD EL-RUFAI (M), JOEL ADOGA (M) sometime in July, 2019 or thereabout at Wuse, Abuja within the jurisdiction o f this Honourable Court, did conspire to disguise the origin of $10,000.00 (Ten Thousand Dollars) which sum was deposited into the Guaranty Trust Bank domicilary account number: 0023824985 belonging to Mallam Nasir Ahmad El-Rufai, when you reasonably ought to have known that such fund formed part of the proceeds of an unlawful act, to wit: corruption and fraud and you thereby committed an offence contrary to Sections 21 and 18(2)(a) and punishable under Section 18(3) o f the Money Laundering (Prevention and Prohibition) Act, 2022.

On Monday, March 23, The ICIR reported the ICPC announcing its readiness to arraign the former governor and Adoga today.

The ICPC also disclosed that a separate case had been filed against El-Rufai and one Amadu Sule before a Kaduna State High Court, with charges including abuse of office, fraud, and intent to commit fraud for personal gain.

According to the commission, both cases were filed on March 18, 2026, while the date for arraignment at the State High Court would be communicated later. It added that the former governor had been duly served.

El-Rufai’s arrest, detention, mounting allegations

El-Rufai’s arrest followed an earlier invitation by the Economic and Financial Crimes Commission (EFCC), where he reportedly presented himself on February 16 over alleged financial improprieties during his tenure between 2015 and 2023.

In 2024, the Kaduna State House of Assembly indicted him over the alleged diversion of N423 billion in public funds and recommended investigation by anti-corruption agencies.

El-Rufai, who was initially granted bail after spending two nights in EFCC custody, was subsequently re-arrested by security operatives. A Federal High Court in Abuja later declined to entertain his bail application, ruling that it was premature until he is formally arraigned.

Some Nigerians, including his allies in the African Democratic Congress (ADC), namely former vice president Atiku Abubakar and former Anambra State governor Peter Obi had urged the EFCC to charge him in court after describing his arrest and detention as politically motivated.

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