Billionaire industrialist Aliko Dangote on Sunday accused the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, of paying about $5 million in school fees for his children in Switzerland and called for a formal investigation into the allegation.

Speaking at a press conference at the Lekki Refinery, Dangote said the alleged payments, which he claimed covered six years of education for four children, were inconsistent with the earnings of a public servant and should be scrutinised by relevant authorities.

“Let them now see whether his income matches the $5 million he has paid school fees for six years for four of his children,” Dangote said.

He urged the Code of Conduct Bureau or the courts to examine the matter, stressing that his demand was for due process rather than dismissal.

“No, I don’t want Farouk to be sacked. But I want Farouk to be investigated and then also let the legal process take its toll,” he told reporters.

Dangote linked his call for an investigation to broader concerns about the regulator’s licensing and reporting practices, which he said favour fuel importation and undermine local refining. He described the alleged actions as “economic sabotage” and argued that they further justified a formal inquiry.

The NMDPRA has previously dismissed similar allegations as false, describing them as part of a smear campaign against its leadership.