Atiku Abubakar gives President Tinubu seven-day ultimatum for independent probe into PFIPC scandal
via Punch Nigeria11 min read
Former Vice President and presidential candidate of the African Democratic Congress, Atiku Abubakar, has issued a seven-day ultimatum to President Bola Tinubu, demanding a transparent, comprehensive, and independent investigation into the Presidential Foreign Intervention Promotion Council PFIPC controversy. Atiku warned that failure to do so would increase public suspicion that influential government figures benefited from alleged fraud. The ultimatum follows the presidency's dismissal of the PFIPC as a legitimate federal institution, labeling its alleged Director-General, Adeniyi Adeyemi, as an impostor facing criminal prosecution. Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, stated that the controversy raises serious questions about the credibility of government institutions and oversight mechanisms, arguing that the presidency's explanation has not addressed critical issues. He questioned how a purported agency could secure office space, process official transactions, and interact with government institutions if it had no legal existence. Atiku also cited reports that the PFIPC was included in the 2026 Appropriation Act with a multi-billion naira allocation and that the Office of the Head of the Civil Service of the Federation allegedly approved the recruitment of over 300 personnel. He emphasized that these developments cannot be dismissed as administrative errors and that an independent inquiry is necessary to examine all documents
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Rand Merchant Bank RMB, a division of the First Rand Group, acted as Coordinator and Lead Arranger for a $340 million refinancing package for Indorama Fertilizer and Chemicals FZE Limited in Nigeria. This medium-term debt financing, fully underwritten by Development Financial Institutions and international commercial banks, aims to provide a more competitive funding solution for Indorama's brownfield development. Indorama FZE achieved 2.7 million Metric Tonnes in urea production in 2025, with 103% capacity utilization. Chidi Iwuchukwu, Executive Director and Head Investment Banking RMB Nigeria, stated that this financing demonstrates RMB's commitment to supporting private sector investment in Nigeria's heavy industry manufacturing segment and non-oil export growth. Indorama FZE is Nigeria's largest non-oil exporter, holding over 18% of non-oil exports in 2024, and contributes significantly to domestic food production with a 75% market share in Nigeria. Following its Line 3 commissioning in June 2026, Indorama is expected to become the world's largest single-site urea producer. Enyinna Anumudu, Senior Dealmaker and Head Infrastructure Finance Nigeria, noted that this financing supports the long-term competitiveness of the Nigerian private sector in meeting fertilizer demand and promoting food sufficiency.
Jurgen Klopp has indicated to the German FA DFB his fundamental willingness to become the next Germany coach, following Julian Nagelsmann's resignation. Nagelsmann stepped down on Friday, four days after Germany's exit from the last-32 stage of the World Cup to Paraguay. The DFB confirmed discussions would commence with Klopp, former manager of Liverpool and Borussia Dortmund, while acknowledging Nagelsmann's nearly three-year tenure. Klopp, who led Liverpool to Champions League and Premier League titles, is currently Red Bull's head of global football, but reports suggest a verbal agreement allows him to depart for the Germany job. Nagelsmann's resignation occurred a day after a three-hour meeting at DFB headquarters. German tabloid Bild reported he was offered a severance package of seven million euros, approximately one year's salary, to terminate his contract, which was set to expire in 2028. Nagelsmann expressed his regret for the team's performance, stating his top priority was always the team's success and that after the disappointment, it deserves a new beginning. DFB sporting director Rudi Voeller praised Nagelsmann as an excellent coach. Germany's loss to Paraguay is the latest in a series of setbacks, including group stage World Cup exits in 2018 and 2022, and eliminations at the Euros in 2021 and 2024. The DFB aimed to avoid a repeat of holding onto an unsuccessful coach for too long, as was perceived with Joachim Loew and Hansi Flick. Nagelsmann, who previously m
The Federal High Court in Abuja has awarded N200 million in damages to Balkisu Babai, the widow of truck driver Kabiru Babai, who was unlawfully killed by a police sergeant in Osun State in 2021. Justice Peter Lifu ruled that the fatal shooting of Babai by Sergeant Moses Samuel violated his fundamental right to life. The court directed the Inspector-General of Police and the Commissioner of Police, Osun State Command, to immediately begin the prosecution of Sergeant Samuel. Balkisu Babai had filed a fundamental rights enforcement suit seeking a declaration that her husband's killing was unlawful, an order for the officer's prosecution, and N2 billion in compensation. Court documents indicate that Babai was repairing a truck when police officers arrived. After an officer shot the co-driver, Babai emerged from under the truck and was allegedly beaten, struck, and shot in the chest by Sergeant Samuel, dying at the scene. The court declared the killing unconstitutional and awarded N200 million against the Inspector-General of Police, the Commissioner of Police, Osun State Command, and Sergeant Samuel. However, the court declined to compel the Attorney-General of the Federation to institute criminal proceedings against the sergeant.