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Dangote Warns Oil Price Shock May Force Nigeria to Adopt Remote Work Policies

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Dangote: My Goal Is to Industrialise Africa, Not Accumulate Wealth
Chairman and Chief Executive Officer of the Dangote Group, Aliko Dangote

Dangote Warns Oil Price Shock May Force Nigeria to Adopt Remote Work Policies

Chairman and Chief Executive Officer of the Dangote Group, Aliko Dangote, has warned that escalating tensions in the Middle East could push Nigeria and other African nations toward adopting remote work policies as a response to rising fuel costs and broader economic instability.

Dangote made the remarks on Monday after a meeting with President Bola Ahmed Tinubu at his Ikoyi residence in Lagos, where discussions reportedly touched on the implications of global energy market volatility for African economies already facing fiscal constraints.

He expressed concern that many African countries lack sufficient financial buffers to withstand external shocks such as sustained increases in global oil prices. According to him, limited savings and heavy reliance on daily income make both governments and households particularly vulnerable to economic disruptions.

Dangote noted that if the situation in the Middle East continues to worsen, governments may be compelled to rethink traditional work arrangements in order to reduce commuting costs and ease pressure on transportation systems. He suggested that remote work and hybrid work models, which gained global prominence during the COVID-19 pandemic, could again become necessary.

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“In some countries today, what they’ve done is ask everybody to work from home because they cannot afford it… If this doesn’t de-escalate, people will really feel the pinch,” he said.

He also pointed to examples from other countries where reduced workweeks and flexible schedules have been introduced as part of broader efforts to manage energy consumption and maintain economic productivity under pressure.

The warning comes amid concerns that prolonged instability in the Middle East could disrupt global oil supply routes, including strategic passages such as the Strait of Hormuz, through which a significant portion of global crude oil and petroleum products pass. Any disruption to this corridor could trigger further spikes in fuel prices worldwide.

Economic analysts say such increases would likely have a direct impact on transportation costs, inflation, and the cost of goods and services across Africa. In Nigeria, where many businesses rely heavily on generators due to inconsistent power supply, higher fuel prices could significantly increase operating expenses.

Dangote emphasized that the effects would be most severe for small-scale enterprises and informal sector workers who depend on daily earnings. Businesses such as barbershops, bakeries, and small manufacturing outfits, he noted, are particularly exposed due to their reliance on fuel-powered generators and limited access to alternative energy sources.

He further observed that governments in the region may find it difficult to significantly increase salaries or provide widespread financial support in response to rising costs, given existing budgetary limitations.

Dangote’s comments reflect growing concerns among policymakers and economists about the potential ripple effects of global energy shocks on developing economies. While remote work may not be applicable across all industries—especially sectors requiring physical presence—it could offer relief in administrative, tech, and service-based roles by reducing commuting expenses and improving flexibility.

As global energy markets remain volatile, Dangote’s warning highlights the need for adaptive economic strategies that can help countries manage external shocks while maintaining productivity and stability.

Dangote Warns Oil Price Shock May Force Nigeria to Adopt Remote Work Policies

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VIDEO: ‘We Have No Light, We Drink Well Water’ — Mr Ibu’s Widow Cries Out for Help

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‘We Have No Light, We Drink Well Water’ — Mr Ibu’s Widow Cries Out for Help

VIDEO: ‘We Have No Light, We Drink Well Water’ — Mr Ibu’s Widow Cries Out for Help

The widow of late Nollywood icon John Okafor, popularly known as Mr Ibu, has made an emotional appeal to Nigerians for financial assistance, revealing that she and her children are struggling to survive more than a year after the actor’s death.

Speaking during a video interview with content creator King Mitchy, Stella Maris Okafor disclosed that the family is battling severe financial difficulties, including unpaid rent, outstanding school fees, and months without electricity.

According to her, the family’s power supply was disconnected about two months ago due to unpaid bills, forcing them to seek alternative means of charging their phones and carry out daily activities without electricity.

“We fetch water from the well because I have not paid the house rent. They have even cut my lights for two months now. Every night we go to look for a place to charge our phones. It’s not easy,” she said.

The widow explained that the situation has become increasingly difficult as she struggles to provide for her children following the death of the veteran actor, who was one of Nigeria’s most beloved comedians.

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She further revealed that her children’s education is now at risk because of unpaid tuition fees. According to her, the school recently sent a reminder demanding payment of outstanding fees, raising fears that the children may be unable to continue attending classes.

“Right now, they can’t go to school again. I can even show you the message the school sent me today,” she lamented.

One of Mr Ibu’s daughters expressed gratitude to her mother for her efforts in keeping the family together despite the mounting challenges.

“I want to thank God for my mom. She tries everything she can to feed us, pay our school fees and make us happy,” she said.

The appeal has drawn attention from fans and supporters who remember the nationwide campaign that raised funds for the actor’s medical treatment before his death.

The late Mr Ibu underwent several medical procedures during a prolonged illness that captured national attention. His condition prompted support from celebrities, colleagues in the entertainment industry, corporate organisations, and thousands of Nigerians who donated towards his treatment.

Despite those efforts, the veteran comic actor passed away on March 2, 2024, at the age of 62, leaving behind a legacy that spans more than two decades in the Nigerian film industry.

Widely regarded as one of the most influential comic actors in Nollywood, Mr Ibu became a household name through his distinctive acting style and memorable performances in numerous blockbuster movies.

His widow’s latest appeal has reignited discussions about the welfare of entertainers and the challenges families often face after the death of prominent public figures. It has also highlighted the growing economic pressures confronting many Nigerian households amid rising living costs and educational expenses.

As calls for support continue to grow, well-wishers have expressed hope that the family will receive the assistance needed to keep the children in school and improve their living conditions.

VIDEO: ‘We Have No Light, We Drink Well Water’ — Mr Ibu’s Widow Cries Out for Help

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Army Arrests Suspected Terrorist Supplier, Seizes 150 Combat Boots in Zamfara

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Army Arrests Suspected Terrorist Supplier, Seizes 150 Combat Boots in Zamfara

Army Arrests Suspected Terrorist Supplier, Seizes 150 Combat Boots in Zamfara

Troops of Sector II of Operation FANSAN YAMMA have arrested a suspected logistics supplier linked to terrorist groups and recovered 150 pairs of combat boots alongside other tactical items during a security operation in Zamfara State.

According to an operational report made available to the News Agency of Nigeria (NAN) on Thursday, the suspect was apprehended along the Sokoto-Gusau Road during a routine stop-and-search operation conducted by troops on Wednesday.

Military authorities disclosed that the suspect was travelling in a Honda Civic vehicle when troops uncovered a cache of military-related items concealed inside the vehicle.

Items recovered from the suspect included 150 pairs of combat boots, three jackknives, three electric shockers, a tear gas canister, a military beret, and a military belt. Troops also recovered two Android mobile phones, an iPad and a digital wristwatch believed to contain information of intelligence value.

The military described the arrest as a significant breakthrough in ongoing efforts to dismantle logistics and supply chains sustaining terrorist and bandit operations across the North-West region.

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Security analysts have repeatedly identified logistics suppliers as critical enablers of terrorist activities, providing equipment, communication devices, transportation and other resources that help criminal groups sustain operations in remote locations.

The latest arrest comes amid intensified operations by Operation FANSAN YAMMA across Zamfara and neighbouring states. In recent weeks, troops of Sector II have recorded several successes, including the interception of a suspected arms courier in Kaura Namoda and the recovery of more than 1,000 rounds of ammunition allegedly destined for terrorist groups operating in the region. Military authorities said the operation disrupted an arms supply route believed to be supporting criminal networks across the North-West.

The military has also sustained offensive operations against terrorist enclaves in Zamfara. Earlier this month, troops neutralised terrorists during fighting patrols in Zurmi and Shinkafi Local Government Areas, rescued kidnapped victims and destroyed terrorist camps used as operational bases by armed groups. Weapons, communication equipment and logistics items were recovered during the operations.

Military authorities said disrupting the movement of equipment and supplies remains a key component of the ongoing counter-terrorism campaign, as it weakens the operational capacity of terrorist and bandit groups and limits their ability to launch attacks against communities.

The suspect is currently in military custody and undergoing further investigation, while the recovered items have been secured as exhibits.

The Armed Forces of Nigeria said the arrest underscores the effectiveness of intensified stop-and-search operations and intelligence-driven missions being conducted under Operation FANSAN YAMMA.

The military reaffirmed its commitment to sustaining pressure on terrorist groups, their collaborators and logistics networks in order to restore lasting peace and security across Zamfara State and the wider North-West region.

Army Arrests Suspected Terrorist Supplier, Seizes 150 Combat Boots in Zamfara

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EFCC to Arraign US-Blacklisted Lagos BDC Operator Over Alleged ISIS Financing

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EFCC to Arraign US-Blacklisted Lagos BDC Operator Over Alleged ISIS Financing

EFCC to Arraign US-Blacklisted Lagos BDC Operator Over Alleged ISIS Financing

The Economic and Financial Crimes Commission is set to arraign a Lagos-based Bureau De Change operator, Mukhtar Adamu Muhammad, over alleged terrorism financing linked to the Islamic State, sources within the anti-graft agency have disclosed. According to senior EFCC officials familiar with the investigation, the commission had already concluded significant aspects of its probe and was preparing criminal charges against the suspect when the United States government announced sanctions against him over alleged links to ISIS. “We investigated these individuals and the BDC companies for terrorism financing and were preparing charges against them when the U.S. indicted them,” a source familiar with the investigation told The PUNCH.

The development follows the designation of Muhammad and three Nigerian companies by the United States as alleged financial facilitators for ISIS operations. The sanctions formed part of a broader action targeting three individuals and six entities accused of facilitating the movement of funds for ISIS activities across several countries, including France, Syria, Türkiye and Nigeria. In a statement issued on Monday, U.S. Department of State spokesperson Thomas Pigott said the Nigerian national named in the sanctions is Mukhtar Adamu Muhammad, also known as Mukhtar Muhammad, a Bureau De Change operator based in Lagos State. According to U.S. authorities, Muhammad and the affected companies acted as financial conduits for the Islamic State West Africa Province (ISWAP) by facilitating the movement of funds on behalf of the terrorist organisation. The US Treasury Department’s Office of Foreign Assets Control alleged that the firms were owned, controlled or directed by Muhammad and used to move funds for ISWAP. The sanctions freeze any assets or interests in property belonging to the designated individuals and entities within U.S. jurisdiction and generally prohibit U.S. persons from engaging in transactions with them.

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The Nigerian firms linked to Muhammad and named in the sanctions include Generation Currency Bureau De Change Limited, which is Lagos-based; Nine to Nine Exchange Bureau De Change Limited, also Lagos-based; and Manhattan Bureau De Change Limited, which is Kano-based. Authorities in the United States accused the Lagos-based BDC operator of helping move funds linked to the Islamic State’s West African network through financial channels operating in Nigeria. According to OFAC, Mr Muhammad operated from Lagos and played a significant role in ISWAP’s financial network by transferring money through the three BDC firms, enabling the movement of funds that supported the group’s operations.

Meanwhile, the Nigeria Sanctions Committee has welcomed the decision by the United States Office of Foreign Assets Control to blacklist Muhammad, Nine to Nine Bureau De Change, and Generation BDC Limited over alleged links to terrorism financing. In a statement issued on Wednesday, the committee disclosed that the U.S. action followed Nigeria’s earlier designation of the individuals and entities under the Nigeria Sanctions List on June 18, 2026. According to the committee, the sanctions were based on extensive intelligence gathering, financial investigations and inter-agency assessments which established reasonable grounds to believe the affected individuals and entities facilitated, financed or otherwise supported the activities of ISWAP and affiliated terrorist networks. “These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on June 18, 2026,” the committee stated.

The committee listed the sanctioned individuals as Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi.20), Adamu Chiroma (NLISWi.21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi.23), and Babangida Muhammed Adamu Hammajam (NLISWi.24). The affected companies are Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), and Nine to Nine BDC Limited (NLISWe.27).

The Federal Government reiterated its directive to financial institutions and designated non-financial businesses and professions to comply fully with sanctions obligations, including asset-freezing requirements, the filing of Suspicious Transaction Reports and the reporting of all relevant matches to the appropriate authorities. The sanctions committee also commended the efforts of major government institutions involved in the investigation, including the Federal Ministry of Justice, Office of the National Security Adviser, Central Bank of Nigeria, Department of State Services, EFCC and the Nigerian Financial Intelligence Unit. Reaffirming Nigeria’s commitment to combating terrorism financing, the committee said the government would continue working with domestic institutions and international partners to deny terrorist groups access to financial resources. “Nigeria remains resolute in ensuring terrorists and their financiers find no safe haven within the country’s financial system,” the committee said.

Although the EFCC has yet to issue an official statement on the matter, sources said the commission’s investigation focused on alleged terrorism financing activities and financial transactions suspected to be linked to terrorist operations. The sources, however, declined to disclose when formal charges would be filed.

EFCC to Arraign US-Blacklisted Lagos BDC Operator Over Alleged ISIS Financing

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