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Dollar Payment: EFCC to Clampdown on Schools, Others

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By Adedapo Adesanya

The Economic and Financial Crimes Commission (EFCC) has placed international schools that charge tuition in Dollars and other foreign currencies under surveillance as part of measures to alleviate pressure on the Naira.

This was disclosed by the Head of Media and Publicity of the anti-graft agency, Mr Dele Oyewale, who said the commission would clampdown on schools and other organisations charging foreign currencies following a case involving the ex-governor of Kogi State, Mr Yahaya Bello.

He reiterated that it was illegal for schools operating in the country to charge for services in foreign currencies, noting that the 7,000-man special task force on Dollar racketeers operating across the EFCC zonal commands was monitoring the schools and other organisations that might be involved in the act.

In a move to curb the free fall of the Naira against the greenback, the anti-graft agency in February summoned the proprietors of private universities and other schools charging tuition in Dollars.

Recall that the EFCC has intensified efforts this year as part of unorthodox means to staunch the worsening state of the Naira. In Abuja, Lagos, and other states, the commission has arrested currency traders suspected of speculating against the Naira.

The EFCC spokesman said the task force was set up “to ensure that those breaking the rules find their way back to the right path so that the wrath of the law will not be on them.”

Mr Oyewale said it was illegal for any business operating in the country to charge for its services in foreign denominations apart from the Naira, vowing sanctions for any breach of the law.

“The task force is not just to monitor naira abuse alone but for the whole economy. So, the EFCC is working to ensure that those breaking the rules find their way back to the right path so that the wrath of the law will not be on them.

“Yes, everyone knows that it is illegal to charge in other denominations apart from the naira. Whether in Chinese or American currency, any transaction that is not denominated in naira in Nigeria, the EFCC is against it.

“So, the task force is in place to check that and Nigerians should be happy about that. It is not just schools, hotels but other entities across the country that are doing this must come back to the naira as our legal tender,” he said.

“Naira is the symbol of our economy and everything that has to do with the economy in Nigeria must be done in Naira,’’ he added.

He added that not only schools but hotels and other businesses are under scrutiny and as a result, the EFCC would punish anyone caught violating the law.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Education

Farouk Ahmed Pays $5m for Children’s Secondary School Fees Abroad—Dangote

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By Modupe Gbadeyanka

The chief executive of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, has been accused of corruption by the president of Dangote Group, Mr Aliko Dangote.

Speaking on Sunday, the business mogul alleged that Mr Ahmed paid about $5 million for the secondary school education of his four children in Switzerland.

He wondered how the NMDPRA chief, who is a government official, could afford to pay the huge amount of money for the school fees of his kids abroad when there are several students in the home state of Mr Ahmed, Sokoto State, wandered around because of lack of funds for education.

He called on the authorities to institute a full scale investigation into the activities of the NMDPRA boss, with the outcome made public.

“I have actually had people making complaints about a regulator who has actually put his children in secondary school.

“And that secondary school education, which is six years, four of them cost Nigeria $5 million. I mean, you cannot imagine somebody paying $5 million for educating four children,” Mr Dangote disclosed during a media briefing at the Dangote Petroleum Refinery and Fertiliser Plant, Lekki, Lagos.

“From Sokoto, where he comes from, people are struggling to pay N100,000 for school fees. A lot of children are at home, not going to school, because of N100,000.

“I cannot understand why somebody who has worked all his life in government, and he has four children whose school fees he has paid $5 million for,” he added.

“This is a system where some of us are taxpayers. When people are complaining, we also complain, because when I pay tax, I want to see my money put to use, not stolen.

“I don’t know why the authority chief executive, Mallam Farouk, has four children educated in Switzerland at the cost of $5 million for their secondary school education alone, not university,” he alleged.

“My children went to secondary school in Nigeria. They did not go outside Nigeria to attend secondary school,” Mr Dangote stressed.

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Education

FG, States Hail Dangote’s N1trn Scholarship Scheme for 1.3 million Students

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N1trn Scholarship Scheme for 1.3 million Students

By Modupe Gbadeyanka

The N1 trillion scholarship programme of the Aliko Dangote Foundation (ADF) for about 1.3 million Nigerian students has been applauded by the federal government, the state governments and the others.

The scheme was designed to expand access to education and promote academic excellence across Nigeria. Starting in 2026, the initiative will support over 1.3 million students from all 774 local government areas, with N100 billion committed annually for 10 years.

It targets Nigeria’s most vulnerable learners and is structured into three categories: Aliko Dangote STEM Scholars – 30,000 undergraduates in public universities and polytechnics will receive tuition support of up to ₦600,000 per year;  Aliko Dangote Technical Scholars – 5,000 TVET trainees will get essential study materials and technical tools; MHF Dangote Secondary School Girls Scholars – 10,000 girls in public schools will receive uniforms, books, and learning supplies, prioritizing states with high out-of-school rates.

The programme would be implemented in partnership with NELFUND, JAMB, NIMC, NUC, NBTE, WAEC, and NECO. It would be based on merit, with beneficiaries chosen through a fully digital system.

Vice President Kashim Shettima praised the organisation for the intervention, saying it demonstrates the critical role of private-sector actors in national development.

He noted that Nigeria’s demographic growth makes urgent investment in education indispensable, warning that “a population becomes a liability only when it is uneducated.”

“Aliko Dangote, through his far-reaching philanthropy, has set in motion the single largest private-sector education support intervention in the history of this country. What he has done here today is a lesson to each of us. This is nation-building in its purest form,” Mr Shettima said.

The Governor of Lagos State, Mr Babajide Sanwo-Olu, speaking on behalf of the 36 state governors, also commended the initiative and pledged the governors’ full support.

The Minister of Education, Mr Tunji Alausa, described the initiative as “pure human capital development,” saying it aligns with the President Bola Tinubu administration’s education sector renewal plan of transforming Nigeria from resource-based economy to a knowledge-based economy and is significant because every local government area will benefit.

He said by the end of the first decade of the execution of the scholarship programme, it is estimated that over 170,000 girl-child would have gone to school.

On his part, Mr Dangote said the intervention is aimed at Nigeria’s most vulnerable learners, noting that financial hardship, not lack of talent, is the primary reason many drop out of school.

“This is not only charity. This is a strategic investment in Nigeria’s future. Every child we keep in school strengthens our economy. Every student we support reduces inequality. Every scholar we empower becomes a future contributor to national development.

“Our young people are not asking for handouts. They are asking for opportunities. They are asking for a chance to learn, to grow, to compete and to succeed. And we believe they deserve that chance,” he stated.

“No young person should have their future cut short because of financial hardship. We are stepping forward to ensure students stay in school and pursue their ambitions.

“This initiative is more than financial aid—it is an investment in human capital, with ripple effects on economies, societies, and future generations. When a student gets a scholarship, entire communities stand to benefit,” the business mogul added.

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Airtel Africa Foundation Opens Scholarship Portal for Nigerian Undergraduates

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By Modupe Gbadeyanka

Entries for the Undergraduate Tech Scholarship in Nigeria by Airtel Africa Foundation have opened and applicants can register via candidate.scholastica.ng/schemes/airtelfellowship2025.

This programme forms part of the foundation’s F.E.E.D. agenda, which promotes Financial Empowerment, Education, Environmental Protection, and Digital Inclusion, with a focus on creating pathways for talented young people who face financial barriers.

The scheme, according to a statement from the not-for-profit organisation, provides full tuition, accommodation support, and essential study materials for 100-level students with strong academic potential.

Applications are open to students pursuing courses such as Information Technology, Computer Science, Software Engineering, Data Science, Cyber Security, Artificial Intelligence, and other ICT-related disciplines at participating universities: University of Lagos, University of Nigeria Nsukka, Ahmadu Bello University, University of Benin, Obafemi Awolowo University, University of Ilorin, and Tai Solarin University of Education.

Applicants must be enrolled in 100-level, have scored at least 230 in JAMB, and hold a minimum of five credits in WAEC, including English and Mathematics, in a single sitting.

Required documents include Joint Admissions and Matriculation Board (JAMB) results, university admission letter, West African Examination Council (WAEC) certificate, student identity card, and academic transcript or university results.

Qualified students across the listed institutions have been encouraged to apply and position themselves for a stronger start in the technology sector.
the chairman of Airtel Africa Foundation, Mr Segun Ogunsanya, said the scholarship demonstrates the organisation’s commitment to nurturing Africa’s next generation of digital leaders.

“Young Africans are brimming with talent and ambition. What many need is a fair chance to pursue their education without financial pressure.

“This scholarship reflects our belief that investing in their growth will strengthen communities, empower families, and expand the continent’s digital future,” the former chief executive of Airtel Africa Plc, noted.

On his part, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, said, “Education is one of the most powerful tools for national development.

“As an organisation, Airtel is determined to build a platform for aspiring young Nigerians to learn, innovate and lead in the country’s expanding technology landscape.”

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