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“DON’T TOUCH THAT CASH! Inside The High-Stakes Rush To Grab A Piece Of Dangote’s Empire”
The Emir of Kano, Muhammadu Sanusi II, has cautioned Nigerians against jeopardizing their financial stability or family well-being to fund investments in the ongoing Dangote Petroleum Refinery initial public offering (IPO).....KINDLY READ THE FULL STORY HERE▶
Speaking on Thursday at the Dangote Refinery IPO roadshow in Kano State, the former Central Bank of Nigeria (CBN) governor urged prospective investors to exercise financial prudence. He specifically advised citizens against selling their primary residences or diverting children’s school fees to purchase shares.
Key Warnings from the Monarch
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Protect Family Essentials: “Do not take your children’s school fees and put them in shares. Do not sell your house that you live in and put in shares,” Sanusi stated, emphasizing that investments should only be made using disposable funds.
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Start within Your Means: He recommended manageable contributions—such as ₦10,000, ₦20,000, or ₦30,000—that individuals can comfortably set aside for the long term.
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Avoid Get-Rich-Quick Mindsets: Sanusi stressed that the IPO is not a vehicle for overnight trading or quick profits, encouraging investors to view it as a long-term asset to watch grow over a five-year horizon.
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Encouraging Local Ownership: As an indigene and leader, Sanusi expressed his desire for Kano residents and Nigerians nationwide to take ownership of the historic project rather than missing out on capital market opportunities.
Economic Impact of the Refinery
Reflecting on his tenure as CBN governor, Sanusi highlighted the structural shift represented by the Dangote Refinery. He recalled how Nigeria historically exported crude oil only to import refined petroleum products—effectively subsidizing foreign refineries in Europe and Asia while depleting foreign exchange reserves that should have gone toward infrastructure, education, and agriculture.
With the advent of large-scale domestic refining, Sanusi noted that Nigeria has transitioned from using scarce forex for fuel imports to potentially earning foreign exchange as an exporter of refined petroleum products.
IPO Details at a Glance
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Launch Date: The IPO opened on September 14, 2026, and is slated to close on October 13, 2026.
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Share Allocation: 4.1 billion new ordinary shares are being offered at ₦525 per share.
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Minimum Investment: The minimum subscription is set at 10 shares, valued at ₦5,250.
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Target Audience: The offer targets retail, institutional, and eligible African investors.
At the opening gong-sounding ceremony on the Nigerian Exchange (NGX), Dangote Group President Aliko Dangote projected that the refinery is positioned to become Africa’s most viable company by the close of December 2026.
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The Nigeria Security and Civil Defence Corps (NSCDC) has confirmed that 24 personnel connected to the deaths of 37 suspected illegal miners in Niger State will remain in protective detention for two weeks. This directive stands pending the conclusion of an independent investigation by a Federal Government committee.....KINDLY READ THE FULL STORY HERE▶
National Public Relations Officer Babawale Afolabi stated in an interview that the officers will be kept at the national headquarters in Abuja to ensure they remain accessible to the 10-member investigative panel constituted by Minister of Interior Olubunmi Tunji-Ojo. The committee has been given a two-week window to look into the circumstances surrounding the deaths and submit its official report.
Key Highlights:
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Protective Detention Status: The NSCDC clarified that the detention is a special directive rather than a standard criminal arrest, designed specifically to prevent any interference with the ongoing probe.
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Suspensions and Custody: Following the deaths of the suspects—who were arrested and detained between September 15 and 16—three additional personnel were identified and suspended, raising the total number of officers in custody to 24.
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High-Profile Personnel Involved: The affected officers under interrogation include the suspended Niger State Commandant, Ajayi Philips, along with various heads of intelligence, operations, and legal units from the state command.
The Corps has emphasized that administrative disciplinary proceedings are running concurrently with the independent presidential investigation.
latest
“‘The Battle Lines Are Drawn!’: Eric Chelle Unveils Shocking Super Eagles Starting XI For Madagascar Clash”
Super Eagles head coach Éric Chelle has officially named his starting line-up for Nigeria’s crucial Group L opening match in the 2027 Africa Cup of Nations (AFCON) qualifiers against Madagascar, scheduled for 5 p.m. today at the Godswill Akpabio International Stadium.....KINDLY READ THE FULL STORY HERE▶
The squad selection comes as Nigeria looks to bounce back from their previous 2-0 defeat against the Barea at the 2019 AFCON tournament in Egypt.
Key Highlights:
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Between the Posts & Defense: Chippa United goalkeeper Stanley Nwabali takes the starting role in goal, backed by a backline featuring full-backs Ola Aina and Bruno Onyemaechi alongside central defenders Semi Ajayi and Calvin Bassey.
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Midfield Engine: Team captain Wilfred Ndidi anchors the midfield alongside Fulham star Alex Iwobi.
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Attack & Flanks: In a bold tactical move, Chelle handed youngster George Ilenikhena his first international start, pairing him upfront with Akor Adams, while Ademola Lookman and Samuel Chukwueze provide width and threat from the flanks.
Full Starting XI:
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Goalkeeper: Stanley Nwabali
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Defenders: Ola Aina, Semi Ajayi, Calvin Bassey, Bruno Onyemaechi
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Midfielders: Wilfred Ndidi, Alex Iwobi
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Forwards: Samuel Chukwueze, Ademola Lookman, George Ilenikhena, Akor Adams
The Nigerian currency, the Naira (₦), experienced further pressure against the United States dollar during the official foreign exchange market session on Friday, September 25, 2026.....KINDLY READ THE FULL STORY HERE▶
Data released by the Central Bank of Nigeria (CBN) indicated that the local currency traded at an official rate of ₦1,329.5138 per $1 on Friday. This reflects a slight shift from the previous day’s rate of ₦1,328.6687 per $1 recorded on Thursday. Meanwhile, at the parallel market, the naira closed the week trading at ₦1,390 to the dollar.
Key Highlights:
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Official vs. Parallel Rates: While the CBN official rate hovered around ₦1,329.5138/$1, street and parallel market rates closed slightly higher at ₦1,390/$1.
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Market Variances: Actual rates offered by commercial banks and Bureau de Change (BDC) operators may fluctuate based on transaction margins, as well as prevailing supply and demand dynamics.
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Future Outlook: Market watchers and participants continue to closely track forex inflows, greenback demand, and upcoming CBN policy adjustments to gauge the naira’s trajectory.
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