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Boss Mustapha Seeks Probe Into $6.3m CBN Withdrawal Allegations

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Former Secretary to the Government of the Federation, Boss Mustapha, has demanded an inquiry into a report accusing him of involvement in the purported unauthorized withdrawal of $6.3 million from the Central Bank of Nigeria (CBN) during Muhammadu Buhari’s administration.

The report suggests that a special investigator appointed by President Bola Tinubu discovered the alleged misappropriation, which supposedly occurred on February 8, 2023, just weeks before the presidential election.

According to the report, Mr. Mustapha, along with the former CBN governor, Godwin Emefiele, allegedly authorized the withdrawal of the funds from the bank’s vault, supposedly intended for foreign election observer missions.

The investigator’s report, citing CCTV footage, detailed the movement of the money from the apex bank.

In a statement to journalists on Saturday, Boss Mustapha strongly denied the accusations, labeling them as “outrageous and unsubstantiated.”

He condemned the article as a “malicious fabrication” aimed at tarnishing his character and reputation.

The former SGF emphasized his lack of knowledge regarding the alleged “Presidential Directive” mentioned in the report as the basis for the withdrawal.

He clarified that he had never participated in discussions or transactions concerning payments for foreign election observers.

Moreover, Mustapha raised concerns about the timing of these allegations, suggesting that their emergence during the sensitive pre-Christmas period seemed deliberately aimed at manipulating public sentiment and planting seeds of doubt.

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Dangote Preaches Ambition, Africa First to Nigerian Creatives

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President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has challenged Nigerian entrepreneurs and creative industry practitioners to think beyond conventional limits, build globally competitive enterprises and create enduring legacies, declaring that Africa must take responsibility for its own economic transformation rather than depend on foreign investors for prosperity.

Dangote gave the charge while hosting leading figures from Nigeria’s creative industry at the Dangote Petroleum Refinery and Petrochemicals complex in Lekki, Lagos, where he also disclosed that the Group was considering raising its US$100 billion Vision 2030 target in response to its expanding industrial investments and growth ambitions. The delegation, comprising Nollywood stars, content creators, comedians and other entertainment and lifestyle personalities, toured the industrial complex before engaging Dangote in a conversation on entrepreneurship, innovation, ambition, and legacy.

Addressing the creatives, Dangote urged Nigerians to match their creativity and entrepreneurial drive with discipline, perseverance and the courage to pursue ambitious projects, stressing that lasting success should be measured not merely by personal wealth but by the businesses built, opportunities created and contributions made to society.

“It is not just about money; it is about legacy. We have often been taken for granted, and in many ways, we have contributed to that by waiting for foreigners to come and make our continent prosperous. That will never happen. We must take responsibility for building Africa’s prosperity ourselves,” he declared.

READ ALSO: Renaissance, Sterling Bank Back Indigenous Oil and Gas Contractors Financially

Speaking on the Group’s long-term ambitions, Dangote revealed that its US$100 billion Vision 2030 target was being reconsidered, with a more ambitious target expected to be unveiled in January.

“We realised that our Vision 2030 target was too modest. We are working towards unveiling a new vision in January, with a revised target that reflects our ambition to achieve far more than US$100 billion,” he said.

He explained that the Group’s continued industrial expansion was driven by a determination to build enduring institutions, strengthen Africa’s productive capacity and demonstrate that the continent could develop enterprises capable of competing globally. Drawing lessons from Singapore’s economic transformation, Dangote said nations could overcome difficult beginnings through deliberate investment, enterprise and a commitment to developing their own capabilities. He challenged Nigerian entrepreneurs to reject limiting assumptions about what could be achieved, noting that transformative accomplishments often required the courage to pursue ideas others considered impossible.

Reflecting on his entrepreneurial journey and the development of the refinery, Dangote identified perseverance, disciplined execution and sound judgement as essential ingredients of business success. He cautioned, however, that ambition must be tempered by the ability to recognise when an investment was no longer commercially viable.

“Before embarking on any venture, you must carefully consider all the issues involved. We have made mistakes too, and I share these experiences so others can learn from them,” he said. “One important lesson is never to keep putting good money into a bad investment. Some situations are simply too difficult to turn around, no matter how much you invest.”

Turning to the creative industry, Dangote commended Nigerian entertainers for building a formidable international presence despite operating in a challenging business environment and receiving limited government support. He described Nollywood’s growing global influence as evidence of Nigeria’s creative potential, urging practitioners to build on their achievements through stronger business structures, innovation and collaboration. According to him, the industry’s next phase of growth should go beyond international recognition to building sustainable enterprises, creating employment and strengthening Nigeria’s position in the global creative economy.

Veteran Nollywood actor Richard Mofe-Damijo (RMD), who moderated the interactive session, praised Dangote’s accomplishments, describing his industrial investments as an enduring contribution to Nigeria’s development.

“Your legacy has already been built, and its continuation is assured. You deserve all the praise and recognition you have received for what you have accomplished,” RMD said.

Nollywood actor Abdullateef Adedimeji described the visit as an inspiration, saying the scale of the refinery had challenged him to raise his ambitions and pursue greater accomplishments in the creative industry.

“Coming here today is a source of motivation for us. As someone in the film industry, this experience inspires me to push beyond my limits, broaden my imagination and strive for greater achievements, including making a more meaningful impact in my community,” he said.

Adedimeji also called for greater collaboration among Nollywood practitioners, drawing lessons from the coordination and partnerships underpinning Dangote’s industrial operations.

“That is what we need in Nollywood. The more we collaborate, the stronger and more successful we become,” he said.

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Protest Against Oil Company’s Vessel in Rivers Takes 10 Lives

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No fewer than 10 people are feared dead after a protest against a vessel belonging to an indigenous oil company turned tragic at Kula community in Rivers State, following an alleged collision involving a community boat and a Nigerian Army gunboat.

The incident reportedly occurred on Tuesday morning when members of the community took to the water in a boat to protest against the oil company’s vessel.

A community leader, Chief Anabs Sara-Igbe, disclosed this in a telephone interview with journalists in Port Harcourt.

Sara-Igbe, a former spokesman of the Pan Niger Delta Forum (PANDEF), alleged that a gunboat belonging to the Nigerian Army hit the protesters’ boat, causing some of its occupants to drown.

READ ALSO: Renaissance, Sterling Bank Back Indigenous Oil and Gas Contractors Financially

He said efforts were ongoing to recover the remains of those who drowned during the incident.

The circumstances that led to the protest, the identities of the victims and the precise sequence of events surrounding the alleged collision were not immediately clear.

The Nigerian Army’s response to the allegation was also not immediately available as of the time of filing this report.

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FRSC Warns Drivers After Brake Failure Kills Two in Kano Crash

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The Federal Road Safety Corps (FRSC), Kano Sector Command, has confirmed the death of two persons in a road crash involving a fully loaded tipper truck and a Mercedes-Benz car along the Kano-Zaria Road at Dangi Underpass.

The fatal crash occurred on Tuesday, October 20, 2026, and involved a Howo tipper truck with registration number RMG 332 XA, loaded with bitumen, and a Mercedes-Benz C180 with registration number ABJ 783 GB.

According to a statement signed by the FRSC Kano Sector Public Education Officer, Abdullahi Labaran, four male adults were involved in the crash, with two confirmed dead.

SEE ALSO: DPRP’s Free Fuel Delivery Expands to Kano, Imo, Nearly 10 More States

Preliminary reports indicated that the crash was caused by brake failure in the loaded tipper truck, resulting in the driver losing control of the vehicle.

The truck reportedly slid backwards and collided with the Mercedes-Benz behind it, leading to the fatal incident.

FRSC rescue personnel and other emergency responders evacuated the victims to Aminu Kano Teaching Hospital for medical attention.

Reacting to the incident, the Kano Sector Commander, Corps Commander Idris Mohammed Lawal, expressed condolences to the families of the deceased and prayed for the repose of their souls.

Lawal also urged the affected families to find the strength to bear the loss.

The Sector Commander warned motorists, transport unions, construction companies and fleet operators against neglecting regular vehicle maintenance, particularly the inspection and servicing of critical components such as braking systems and tyres.

He emphasised the importance of defensive driving, urging motorists to maintain safe following distances, remain alert to changing road conditions and ensure their vehicles are roadworthy before embarking on journeys.

Lawal stressed that regular vehicle maintenance, responsible driving and strict compliance with road safety regulations remain essential to preventing avoidable road crashes and saving lives.

 

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