The Economic and Financial Crimes Commission has commenced an investigation into allegations that a former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, spent about $7m on the education of his children in Switzerland, funds believed to be beyond his legitimate earnings.
PLATFORM TIMES gathered on Saturday that the probe followed a fresh petition submitted to the anti-graft agency by the Chairman of Dangote Industries Limited, Aliko Dangote, accusing Ahmed of abuse of office and unlawful expenditure of public funds.
A senior EFCC official familiar with the matter confirmed the development but said the commission was still at the preliminary stage of its investigation.
“We have prepared the ground and started working on it, but the accused has not been invited,” the official said on condition of anonymity due to the sensitivity of the case.
“Standard procedure is to write to all parties mentioned in the petition first. Whoever is accused is usually the last to be invited, after we have gathered facts and documents to confront them with.”
The official disclosed that the EFCC had begun reaching out to government agencies, private firms and international institutions referenced in the petition to verify the claims, adding that some aspects of the investigation would require foreign correspondence.
“We may have to write to the school in Switzerland mentioned in the petition to confirm the claims,” the source added.
The allegations against Ahmed first surfaced in December 2025 when Dangote petitioned the Independent Corrupt Practices and Other Related Offences Commission, accusing the former regulator of violating the Code of Conduct for Public Officers and financing his children’s education abroad with funds that could not be justified by his known income.
However, Dangote later withdrew the petition in a letter dated January 5, 2026. Despite the withdrawal, the ICPC announced it would continue to examine the matter, citing provisions of its enabling Act that allow investigations once allegations of corruption are brought to its attention.
The issue resurfaced publicly on July 6 when Dangote’s legal representatives submitted a fresh petition to the EFCC, requesting a comprehensive probe into the allegations.
Ahmed has yet to respond publicly to the claims as of the time of filing this report.
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