Ahmed Farouk, Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), is under intense investigation amid allegations regarding the approval of over ₦200 billion in legacy bridging claims to oil marketers. These claims, intended to reimburse marketers for transportation costs, have raised red flags due to concerns over the absence of verifiable data to justify a significant portion of the payments.
Bridging claims are designed to ensure uniform fuel prices nationwide by compensating marketers for the cost of transporting petroleum products. However, there are claims that marketers have submitted inflated bridging claims, with discrepancies of up to 47%. This raises suspicions of irregularities and potentially fraudulent practices.
In response, the Dangote Group issued a statement urging the Auditor-General to halt processing the payments until a full forensic audit is conducted to ensure that claims align with the actual levies paid. These concerns come as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) confirmed receiving a petition from Aliko Dangote, accusing Farouk of corruption and abuse of office.
Dangote’s petition alleges that Farouk has been living far beyond his means as a public servant, citing the extravagant spending of over $7 million on the education of his four children in Switzerland, paid upfront for six years. Dangote argues that such expenditures are not supported by any legitimate source of income and are indicative of corrupt enrichment using public funds.
Farouk has strongly denied these accusations, calling them “wild and spurious.” He has chosen to wait for an official investigation to clear his name, rather than engage in a public dispute.
The ICPC has assured the public that it will thoroughly investigate the petition, which, if proven true, could have significant legal and political consequences.
