The President of Dangote Group, Dr. Aliko Dangote, has given Kaduna-based businessman Kailani Mohammed a seven-day ultimatum to retract a libelous publication against him and his company, warning that failure to do so will result in a N100 billion lawsuit.

Dangote, in a letter to the businessman demanded immediate public explanation, retraction and unreserved apology from the Kaduna businessman for accusing him of engaging in an unclean business especially in 1980s in Port Harcourt, Rivers State.

Dangote’s letter was served on the Kaduna businessman by his lawyer Dr Ogwu James Onoja, a Senior Advocate of Nigeria of Onoja law firm in Abuja.

In the letter dated December 20, 2025, Dangote complained that the Kaduna businessman defamed him, lowered his reputation and tarnished his business engagements with the accusation that he engaged in unclean business in Port Harcourt and also queried his source of wealth as the richest man in Africa.

The offending remarks were said to have been made by Engr. Kailani Mohamed during an interview aired on Wednesday December 17th, 2025 on TrustTV news in reaction to his petition against Dr Farouk Ahmed submitted to independent Corrupt Practices and other Related Offences Commission ICPC.

The letter is titled “Demand for public explanation, retraction and unreserved public apology on your libelous publication against Alhaji Aliko Dangote, GCON” and signed by Dr. Ogwu James Onoja SAN.

It read “We are solicitors to Alhaji Aliko Dangote and we write pursuant to his express instructions regarding grievously libelous statements broadcast by TrustTV news and uttered by you during an interview aired on Wednesday, 17th December, 2025 in reaction to the petition submitted by our client to Independent Corrupt Practices and other Related Offences Commission (ICPC).”

“Our client is a widely reputable international businessman. He is the richest black man on earth and he has the largest business conglomerate in Africa.

“Our client, through dint of hard work, integrity, diligent and perseverance over the years earned for himself the reputation and honour he is reckoned with all over the world.

“Our client’s attention has been drawn to statements made by you during the televised broadcast on TrustTV on the aforementioned date in reaction to our client’s petition submitted to Independent Corrupt Practices and the other Related Offences Commission (ICPC) to investigate and possibly prosecute Engr. Farouk Ahmad if found wanting, wherein you made false, reckless, malicious, scandalous and libelous publications concerning our client as a man that has monopolistic tendencies, corruptly enriched himself in business and engaged in economics cerbutach.

“Your statement also portrayed our client as a very cruel businessman whose stock in trade is vendetta and campaign of calumny to bring down others and exert monopolistic powers.

Among others you started as follows: “Can Dangote tell us the source of his money in the 80s when he was in Port Harcourt. Who is clean? Every time you want to monopolize, you bring allegations against people. Let him come and prove it. In the 80s we are aware of what happened in Port Harcourt and how he got his money. Nobody came out and said all these things”.

“These statements are false, scandalous and gravely deliberately impute unlawful or morally questionable conduct to our client and are calculated to expose him to public hatred, ridicule, suspicion and odium.

“By your reckless and unguarded defamatory statement and assertions, our client’s reputation has been greatly lowered in the sight of reasonable members of the International Community, including his business partners, associates and various governments of nations of the world where our client carries on business.

“Take Note that our client categorically states that at no time in his life has he carried out any business, commercial activity or wealth generating enterprise in Port Harcourt, whether in the 1980s or at any other period whatsoever as you alleged.

“Your assertion are therefore entirely fictitious, unfounded, malicious and without doubt, render you susceptible to both civil and criminal defematory action.

“In view of the gravity and depth of the allegations made by you against our client, you are hereby demanded to do the following within 7 days upon receipt of this letter:

“That you publicly explain on the same TrustTV platform and to the same audience, when, where and in what capacity our client was allegedly involved in any unclean activity or any activity whatsoever in Port Harcourt as claimed by you.

“That in the absence of verifiable facts capable of substantiating your assertions, you immediately and unequivocally retract the said statement in their entirety.

“That you issue a full, clear and unreserved public apology to our client which must be broadcast with equal prominence as your original publication.

“To pay our client the N100Bn only in damages for loss of reputation, character defamation and public redicule our client has been subjected to since the said statements were published.

“That you give a written undertaking to desist from making or publishing any further false or defamatory statements concerning our client.

“Be advised that allegations of this nature made without proof on a national media platform are indefensible in law and amount to a gross abuse of the right to freedom of expression which will culminate in both civil and criminal liability.

“Take further notice that should you fail to comply with the conditions stated above and within the time frame, our client shall, without further recourse to you, institute a legal action at a competent court of law against you and claim aggravated damages.

“This is without prejudice to our client’s right to make a formal report against you to the law enforcement agencies for your investigation and and prosecution for criminal defamation,” the letter said.

The Central Bank of Nigeria, CBN, has introduced fresh measures aimed at improving the reliability and security of foreign-issued payment card usage across the country, directing banks and other financial institutions to adopt multi-factor authentication for such transactions.

The new directive was conveyed in a circular dated December 18, 2025, issued by the CBN’s Financial Policy and Regulation Department and signed by its Director, Dr Rita I. Sike.

Addressed to all deposit money banks and non-bank financial institutions, the circular, titled “Facilitation of Seamless Use of Foreign Cards,” stipulates that multi-factor authentication must be applied to all withdrawals and online transactions above daily, weekly, and monthly thresholds of $200, $500, and $1,000 respectively, or their naira equivalents.

According to the apex bank, the policy is designed to strengthen transaction security while enhancing the payment experience for tourists and Nigerians returning from the diaspora.

The CBN noted that the initiative seeks to boost convenience, safety, and overall user confidence in the use of foreign-issued cards nationwide.
Under the new framework, banks and non-bank acquirers are required to ensure seamless access to local currency withdrawals, payments, and transfers for holders of foreign cards across Nigeria.

Institutions must also maintain high system uptime to prevent service disruptions during transaction processing.
The CBN further directed that all automated teller machines, point-of-sale terminals, and online payment platforms be properly configured to accept international cards routed through Nigerian acquirers.

These platforms must fully comply with global card association standards and possess the appropriate certifications or recertifications to guarantee smooth transaction processing.

In addition, all settlements arising from foreign card transactions are to be conducted strictly in naira, with financial institutions expected to maintain adequate liquidity to meet settlement obligations promptly.

To curb fraud, the regulator mandated the deployment of advanced transaction-monitoring systems capable of identifying unusual or suspicious usage patterns involving foreign cards. Merchants accepting foreign card payments are also to be subjected to enhanced know-your-customer and anti-money laundering requirements.

Where necessary, merchants must request valid identification and ensure that card-present transaction receipts are duly signed.

Any transaction deemed suspicious must be reported without delay to the Nigerian Financial Intelligence Unit, in line with existing regulatory requirements.

The CBN also emphasised the need for transparency in pricing. Banks and acquirers are required to clearly disclose applicable exchange rates and charges to customers before transactions are completed.

Exchange rates must be market-based, aligned with the prevailing official rate, and fully disclosed upfront. Transactions are to proceed only after customers have expressly accepted the terms, with proof of such consent properly documented.

As part of merchant capacity building, acquirers are mandated to conduct quarterly training sessions for merchants and agent networks on dispute resolution and chargeback management.

The apex bank warned that consumer complaints related to foreign card transactions must be resolved within stipulated timelines, stressing that unresolved cases escalated to the CBN would attract appropriate sanctions.

Tourists and returning Nigerians who encounter difficulties using foreign-issued cards were advised to lodge complaints with the CBN’s Consumer Protection and Financial Inclusion Department.

To further improve user experience, especially for visitors, financial institutions were instructed to recalibrate their fraud-monitoring systems to reduce unnecessary declines of legitimate foreign card transactions. For low-value payments, card acceptance devices must also support contactless payment options.

The circular equally introduced stricter requirements for chargeback and dispute management.

Acquirers are to establish auditable chargeback processes consistent with card scheme rules and CBN guidelines, covering timely case handling, evidence gathering, refunds, and post-incident reviews.

Transaction records, including terminal approval slips, signed receipts, and descriptions of goods or services, must be retained for a minimum of 12 months and made available within 24 hours upon request.

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