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Rice prices fall amid influx from Benin Republic – Report
Rice prices fall amid influx from Benin Republic – Report
Nigerians are seeing some relief at the market as the price of a 50kg bag of rice has dropped to as low as N58,000 in certain parts of the country, especially in remote areas.
This development comes amid increased rice imports from the Republic of Benin, according to a new report by S&P Global.
The report highlights that the West African parboiled rice market has slumped to its lowest point in nearly two years. This follows India’s decision to remove export duties on parboiled rice, leading to a surge of supply into regional markets.
As a result, the price of a 50kg bag of rice, which previously hovered around N80,000, has now fallen significantly. Much of the imported rice enters Nigeria through neighbouring Benin Republic, offering a temporary ease for consumers grappling with high food prices.
Experts, however, caution that while the price drop brings short-term relief, Nigeria’s reliance on imported staples could pose challenges for local rice farmers and long-term food security
Platts, part of S&P Global Commodity, reports that the influx of lower-priced rice from India has filled warehouses to capacity in Benin, according to market participants..
Between September and December, India was said to have exported approximately 2.11 million metric tonnes of parboiled rice to West Africa, up sharply from 720,000 metric tonnes in the same period of 2023.
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According to the Agricultural and Processed Food Products Export Development Authority, in 2024 as a whole, India exported 5.35 million metric tonnes of parboiled rice to West Africa, up from 3.9 million metric tonnes in 2023.
Commenting, a trader based in Togo said the current situation in almost every region of West Africa is the same, quiet and bearish.
As Nigeria, the largest rice market for Benin, continues to illegally import rice from Benin, both local and imported rice prices in Nigeria have plummeted over the past two weeks.
It was said that the price for a 50kg local rice had dropped from N80,000 or N90,000 to N60,000, while Indian imported rice prices have dropped to N80,000.
“Despite the price decline, demand has not risen correspondingly. With prices continuing to slide daily, buyers are adopting a cautious approach, waiting for stabilisation before making purchases,” the report said.
A trader based in Benin said demand was only likely to increase once the Christmas season comes into focus around September.
Our correspondent reports that Nigeria is the major consumer of rice imported into the Benin Republic.
In border communities in Ogun, the staple sells at prices below N50,000 due to the proximity of their communities to the Benin Republic.
Despite the ban on the importation of rice, the commodity remains the most smuggled product, even as the Nigerian Customs Service has sleepless nights battling rice smugglers.
Rice prices fall amid influx from Benin Republic – Report
(Punch)
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UPDATED: Gbajabiamila gives Adeniyi 72 hours to retract allegations or face ₦10bn defamation suit
UPDATED: Gbajabiamila gives Adeniyi 72 hours to retract allegations or face ₦10bn defamation suit
The Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila, has issued a 72-hour ultimatum to Prince Adeniyi Adeyemi Matthew, demanding the immediate retraction of what he described as false and defamatory allegations made against him during a press conference held on June 25, 2026, or face both civil and criminal legal proceedings.
The ultimatum was conveyed through Gbajabiamila’s legal counsel, Pinheiro LP, in a cease-and-desist letter dated July 6, 2026, and signed by Senior Advocate of Nigeria (SAN) Kemi Pinheiro.
According to the letter, the allegations made by Prince Adeniyi were “false, malicious, reckless and entirely without factual foundation,” and have caused serious damage to the reputation of the President’s Chief of Staff.
The legal notice followed a widely circulated press conference in which Prince Adeniyi levelled several allegations against Gbajabiamila, including claims that the Chief of Staff demanded 48 per cent of the take-off grant for the alleged Presidential Foreign Intervention Promotion Council (PFIPC), received ₦400 million through proxies in connection with appointments, abused his office to intimidate individuals and media organisations, manipulated security agencies, engaged in budget fraud, corruption and abuse of office, and participated in a criminal cover-up, including allegations of murder.
Gbajabiamila’s lawyers rejected the allegations in their entirety, insisting that the Chief of Staff has never met, spoken with or had any personal or official relationship with Prince Adeniyi.
According to the law firm, the allegations amount to grave accusations of criminal conduct made without any credible evidence or lawful justification.
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The solicitors argued that the publication had exposed Gbajabiamila to public ridicule, damaged his reputation both within and outside Nigeria, and undermined public confidence in his office.
“Our client has never at any time met, interacted with, communicated with, or had any form of personal or official dealing whatsoever with you,” the letter stated.
“It is therefore reckless, malicious and entirely baseless to fabricate allegations against someone with whom you have had absolutely no relationship.”
The law firm further argued that the allegations extended beyond legitimate political criticism or fair comment, describing them as deliberate attempts to portray the Chief of Staff as corrupt, dishonest, criminally culpable and unfit for public office.
According to the solicitors, the allegations have generated widespread public attention following their circulation across print, electronic and social media platforms.
The lawyers also drew attention to the ongoing criminal case involving Prince Adeniyi before the Federal High Court, Abuja, identified as Charge No. FHC/ABJ/CR/652/2026, FRN v. Prince Adeniyi Adeyemi Matthew & Ors, in which he is facing charges relating to the alleged forgery of presidential appointment letters and other official documents.
They noted that several issues raised during the June 25 press conference are already the subject of judicial proceedings and criticised Prince Adeniyi for allegedly attempting to litigate the matter through the media instead of allowing the court process to take its course.
“Trial by media remains unknown to Nigerian law and cannot substitute for due process,” the solicitors stated.
As part of the legal demand, Gbajabiamila is requesting that Prince Adeniyi immediately cease making or publishing any further defamatory statements concerning him.
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He is also demanding the removal of all videos, transcripts, publications and other materials relating to the press conference from every platform under Prince Adeniyi’s control.
In addition, the Chief of Staff is insisting on the publication of a full, unequivocal and unreserved apology and retraction in at least five national newspapers, as well as on all digital platforms where the allegations were published.
The lawyers further demanded a written undertaking that Prince Adeniyi would refrain from making any further defamatory statements against their client.
The legal team warned that failure to comply with the demands within 72 hours would result in both civil and criminal proceedings.
According to the letter, the proposed civil action will seek ₦10 billion in aggravated and exemplary damages, with any compensation awarded to be donated to charities chosen by Gbajabiamila.
The suit will also seek a perpetual injunction restraining further publication of the allegations and a mandatory court order compelling Prince Adeniyi to publish a retraction and apology.
In addition, the lawyers disclosed that a criminal complaint alleging criminal defamation under the applicable laws of the Federal Capital Territory (FCT) would be filed.
The legal notice comes amid growing controversy surrounding the purported Presidential Foreign Intervention Promotion Council (PFIPC).
During his June 25 press conference, Prince Adeniyi called on President Bola Ahmed Tinubu to establish an independent investigative panel to examine issues surrounding the alleged agency following a disclaimer issued by the Office of the Chief of Staff.
He maintained that the controversy raises broader concerns about governance, transparency and accountability.
Among other claims, Prince Adeniyi questioned references to the alleged agency in the 2026 Appropriation Act, queried whether it operated bank accounts with the Central Bank of Nigeria (CBN), and asked whether it was allocated office space within the Federal Secretariat.
He argued that these issues deserved an independent investigation and urged any investigative panel to include civil society organisations and international observers to ensure credibility.
Prince Adeniyi also alleged that disagreements between him and Gbajabiamila arose from an alleged demand for a percentage of the agency’s take-off grant and claimed that proxy payments amounting to ₦400 million had been made in connection with the matter.
However, no documentary evidence supporting those allegations was presented during the press conference.
He further called for investigations into the death of an intermediary he identified as Babatunde Tanimola, alleged assassination attempts against him, and a forensic examination of documents he claimed were signed by the Chief of Staff.
The dispute has taken on added significance following the Presidency’s recent directive to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the activities of the purported PFIPC, including allegations of forged government documents, impersonation, abuse of official identity and other related offences.
As of the time of filing this report, Prince Adeniyi had not publicly responded to the cease-and-desist letter issued by Gbajabiamila’s legal team.
UPDATED: Gbajabiamila gives Adeniyi 72 hours to retract allegations or face ₦10bn defamation suit
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BREAKING: Tinubu orders ICPC to probe alleged PFIPC fraud, submit report in 30 days
BREAKING: Tinubu orders ICPC to probe alleged PFIPC fraud, submit report in 30 days
President Bola Ahmed Tinubu has directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to launch a comprehensive investigation into the activities of the purported Presidential Foreign Intervention Promotion Council (PFIPC), ordering the anti-graft agency to conclude its probe and submit a report within 30 days.
The directive, announced on Tuesday in a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, followed what the Presidency described as the discovery that the PFIPC was never legally established by the Federal Government of Nigeria.
According to the Presidency, investigations revealed that the organisation has “no basis in any law, presidential instrument, executive approval or any other lawful act of government,” raising serious concerns over alleged impersonation, forgery and abuse of official government identity.
The statement alleged that one Adeniyi Adeyemi Matthew falsely presented himself as the Director-General of the organisation and claimed to be a presidential appointee despite lacking any legal authority to hold such a position.
As part of the investigation, President Tinubu directed the ICPC to examine allegations bordering on the forgery of appointment letters and other official government documents allegedly used to portray the organisation as a legitimate federal institution.
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The Commission is also expected to investigate claims that the alleged false presidential appointment was used to obtain official recognition, diplomatic support and visa facilitation from government institutions and foreign missions.
In addition, the anti-corruption agency will probe the opening and operation of multiple bank accounts in the names of purported government agencies using allegedly forged documents.
According to the Presidency, the investigation will go beyond document forgery to uncover the full scope of the alleged operation.
The ICPC has been mandated to determine the origin and use of the alleged forged official documents, establish how official recognition or diplomatic support may have been obtained, trace the opening and operation of bank accounts linked to the organisation, and investigate the source and movement of any funds connected to the alleged scheme.
The Commission is also expected to identify the roles played by any public officials, private individuals, financial institutions, intermediaries or other entities that may have facilitated, enabled or participated in the alleged activities.
President Tinubu further directed investigators to examine the circumstances that allowed the purported organisation and the alleged false claim of presidential appointment to appear credible to members of the public and government institutions.
The Presidency said the investigation should identify institutional loopholes or procedural weaknesses that may have been exploited and recommend reforms to prevent similar incidents in the future.
To ensure a thorough investigation, all ministries, departments and agencies (MDAs) of the Federal Government have been instructed to cooperate fully with the ICPC by providing all relevant records, documents and other information whenever lawfully requested.
President Tinubu stressed that protecting the credibility and integrity of the Presidency and other government institutions remains a top priority.
“The integrity of the Presidency and the institutions of the Federal Government must be protected against impersonation, forgery, abuse of official identity and the exploitation of weaknesses in the public service,” the President said.
He also directed that all persons found culpable after the investigation should be dealt with strictly in accordance with the law.
The directive comes amid heightened scrutiny over the alleged activities of the purported organisation and signals the administration’s determination to safeguard government institutions from fraudulent representations and abuse of public trust.
The ICPC is expected to submit its findings to the Presidency within the stipulated 30-day period, after which appropriate administrative, civil or criminal actions may be taken against anyone found to have violated the law.
BREAKING: Tinubu orders ICPC to probe alleged PFIPC fraud, submit report in 30 days
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ICPC arrests El-Rufai’s doctor over alleged false statements, court order breach
ICPC arrests El-Rufai’s doctor over alleged false statements, court order breach
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arrested Professor Bello Abubakar, the personal physician to former Kaduna State Governor Nasir El-Rufai, over allegations of making false statements and facilitating what the anti-graft agency described as a violation of a court-approved medical visit.
The Commission disclosed that Professor Abubakar was taken into custody on Tuesday following a visit to the National Hospital, Abuja, which it said was approved solely for El-Rufai to receive medical attention while in ICPC custody.
According to a statement issued by the Commission’s spokesperson, John Odey, the ICPC granted El-Rufai’s request for medical consultation in compliance with an order of the Kaduna State High Court and in line with its statutory obligation to protect the rights, dignity and welfare of persons in its custody.
The anti-graft agency explained that the Kaduna State High Court had fixed July 6, 7 and 8, 2026, for the accelerated hearing of criminal charges pending against the former governor.
However, on the first day of hearing, El-Rufai did not appear in court. According to the prosecution, when ICPC officers arrived to escort him to the courtroom, he declined to leave, insisting that he wanted to consult his personal physician.
The Commission further claimed that no prior request had been made for the medical consultation. It also alleged that when questioned by the Commission’s medical doctor, El-Rufai reportedly said he had no immediate medical complaints but stated that his wife, Asia El-Rufai, who is also one of his legal counsel, requested that he see Professor Abubakar.
Following arguments by both parties, the court adjourned further proceedings until July 15, 2026, to hear El-Rufai’s application seeking the trial judge’s recusal and to await the decision of the Kaduna State Chief Judge on a pending petition requesting that the case be transferred to another judge.
Despite the adjournment, the ICPC said it facilitated the former governor’s visit to the private wing of the National Hospital under strict security arrangements.
According to the Commission, its medical and security personnel remained outside the consultation room at the request of El-Rufai’s family while he was purportedly being examined by his attending physician.
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However, the anti-graft agency said the visit took an unexpected turn after photographs allegedly showing El-Rufai meeting with political associates surfaced on social media.
The ICPC said one of El-Rufai’s political associates, Isa Ashiru Kudan, posted photographs on Facebook at about 2:00 p.m., claiming they had just concluded a meeting with the former governor.
According to the Commission, the photographs showed El-Rufai alongside Professor Abubakar, Isa Ashiru Kudan and three other individuals inside the hospital at a time when the visit was expected to be strictly for medical consultation.
The Commission alleged that the meeting exceeded the scope of the court-approved hospital visit and constituted a violation of the court’s order.
“The images and post indicated that the arranged medical visit was utilised for activities outside the scope contemplated by the court and the ICPC. This is a clear violation of the court order,” the statement said.
The ICPC further stated that it had exercised patience, professionalism and courtesy in handling El-Rufai and other suspects in its custody but alleged that such courtesies had been abused.
It added that it would formally draw what it described as El-Rufai’s “flagrant disobedience of court orders” to the attention of the court.
The Commission also announced the arrest of Professor Abubakar, alleging that he made false statements during the course of the hospital visit. It said the physician remains in custody while investigations continue.
“The professional and humane nature of the ICPC should not be taken for granted,” the Commission said, adding that it would not tolerate the abuse of its goodwill by any individual or group.
The latest development marks another twist in the ongoing legal proceedings involving the former Kaduna governor. As of the time of filing this report, Nasir El-Rufai, Professor Bello Abubakar, and their legal representatives had not publicly responded to the allegations made by the ICPC.
It remains unclear whether the Commission will file additional charges arising from the alleged breach of the court-approved medical visit. The case is expected to return to the Kaduna State High Court on July 15, when the court will consider the pending applications and determine the next stage of the trial.
ICPC arrests El-Rufai’s doctor over alleged false statements, court order breach
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