Dangote: Refinery Is Good, But Agro-allied Is Game-changer

Dangote: Refinery Is Good, But Agro-allied Is Game-ChangerPresident of the Dangote Group, Mr Aliko Dangote, says his group of companies’ expansion into agro-allied local production of tomato, rice and sugar is the game-changer.

He also noted that the expansion is in line with the Federal Government’s focus on agriculture.

The Africa’s richest man said this on Monday while addressing journalists at the Nigerian Stock Exchange in Lagos State, south-west Nigeria.

He also closed the first trading day of the week, in company of top stock exchange executives, as well as Mr Femi Otedola and the NSE President, Mr Aigboje Aig-Imokhuede.

Mr Dangote, who celebrated his 60th birthday with the closing gong, gave an update on his ongoing 750,000 barrels per day refinery in Lagos.

Capital Oil Boss slams N10 Billion suit against Police IG

A Federal High Court sitting in Lagos today fixed the 29th of Jan to hear a fundamental right application filed by the Chairman, Capital Oil and Gas Limited, Mr Ifeanyi Ubah, against the Inspector General of Police (IGP) and others for alleged infringement of his fundamental rights.

Presiding Justice Chukwujekwu Aneke fixed the date to enable parties in the suit prepare their documents for arguments.

The respondents in Mr Ubah’s suit are the Commissioner of Police, Special Fraud Unit, Mr Ayotunde Ogunsakin, the CEO Access Bank, Mr Aigboje AIG-Imokhuede and CEO Coscharis Motors, Mr Cosmas Maduka.

The Capital Oil boss in the application is seeking an order of court to set aside an alleged interim report issued by the Commissioner of Police, Serious Fraud Unit (SFU), dated November 2, 2012.

Mr Ubah averred that the interim report in which the SFU boss had purportedly stated that he will be arraigned on a prima-facie case of money laundering and criminal conspiracy, amounts to prosecutorial misconduct.

Ubah also claimed that another report dated November 3, in which it had stated that the report will be submitted as a case of stealing and economic sabotage, against the applicant, also amounted to a breach of the applicant’s fundamental right.

The Capital Oil boss also sought a declaration nullifying the report made by the presidential committee on verification of oil subsidy payment to oil marketers, which he claimed is tainted with malice as it portrays him as being involved in stealing and money laundering.

Mr Ubah therefore asked the court for an order of perpetual injunction, restraining the IGP, and CP SFU, from further harassing, arresting or instituting any criminal process against him.

The applicant is also seeking a compensatory damage of N10 Billion, to be paid by all respondents jointly and severally, for the injury suffered as a result of his detention at the Ikoyi office of the second respondent for 10 days.

He maintained that his alleged unlawful detention amounted to a violation of his freedom of liberty as enshrined in Section 35 of the 1999 Constitution of the Federal Republic of Nigeria as amended.