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Account For Missing N100bn Dirty Notes, Others, SERAP Drags CBN Gov

Published

1 year ago

June 30, 2024

The Socio-Economic Rights and Accountability Project has urged the Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, “to account for and explain the whereabouts of the over N100 billion ‘dirty and bad notes’ and ‘other large sum of cash awaiting examination’ which are kept in various branches of the CBN.”

In a letter dated June 29, 2024, and signed by its Deputy Director, Kolawole Oluwadare, SERAP said the allegations are documented in the latest annual report recently published by the Auditor-General of the Federation.

The organisation said these allegations by the Auditor-General suggest grave violations of public trust, the provisions of the Nigerian Constitution, the CBN Act, and national and international anti-corruption obligations.

SERAP also asked Cardoso to “explain the whereabouts of the N7.2 billion budgeted for the construction of the CBN Dutse branch in 2010 and the N4.8 billion budgeted for the renovation of the CBN Abeokuta branch in 2009, and to publish the names of the contractors who collected the money but failed to complete the projects.”

SERAP urged the CBN boss “to explain the whereabouts of the allegedly missing outstanding loan of N1.2 billion granted to the Enugu State Government in 2015 and the outstanding loan of N1.9 billion granted to the Anambra State Government between 2015 and 2016 and to fully recover and remit the public funds to the treasury.”

It also asked him “to refer these grave violations of the Nigerian Constitution 1999 (as amended), the CBN Act and the country’s national and international anti-corruption obligations to appropriate anti-corruption agencies for investigation and prosecution, as appropriate, and the recovery of the public funds.”

The letter read in part, “We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest.

“Explaining the whereabouts of the missing public funds, publishing the names of those suspected to be responsible and ensuring that they are brought to justice and the full recovery of any missing public funds would serve the public interest and end the impunity of perpetrators.

“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Central Bank of Nigeria (CBN) has since 2017 been keeping over N100 billion ‘dirty and bad notes’, and other large sums of cash awaiting examination in various branches of the CBN.

“The Auditor-General fears that the ‘dirty and bad notes’ initially planned to be destroyed may have been ‘diverted and re-injected into the economy.’

“The CBN in August 2010 also reportedly budgeted N7.2 billion [N7,286,500,476.76] for the construction of the Dutse branch building. The Dutse branch was due to be completed in November 2012 but the contractors have failed to complete the project.

“The Auditor-General is concerned that the project may have been ‘awarded to an incompetent contractor,’ and wants the ‘job completed without further delay.’

“The CBN in 2009 reportedly budgeted N4.8 billion [N4,812,608,028.10] for the renovation of the CBN Abeokuta branch. The Abeokuta branch was due to be completed in 2012 but the contractors have failed to complete the project.

“There is no significant renovation work on the site, several years after the proposed completion date. The Auditor-General is concerned that the project may have been ‘awarded to an incompetent contractor,’ and wants the ‘job completed without further delay.’”

SERAP said these violations also reflect a “failure of CBN accountability more generally and are directly linked to the institution’s persistent failure to comply with its Act and to uphold the principles of transparency and accountability.”

It added, “The CBN also reportedly failed to account for the missing outstanding loan of N1.2 billion granted to the Enugu State Government in 2015 and the outstanding loan of N1.9 billion granted to the Anambra State Government between 2015 and 2016. The Auditor-General fears the public funds may have been diverted. He wants the money fully recovered and remitted to the treasury.

“Paragraph 708 of the Financial Regulations 2009 provides that, ‘on no account should payment be made for services not yet performed or for goods not yet supplied.’

“Section 35(2) of the Public Procurement Act 2007 provides that, ‘once a mobilization fee has been paid to any supplier or contractor, no further payment shall be made to the supplier or contractor without an interim performance certificate.

“Section 16(6) of the Public Procurement Act states that ‘all bidders shall possess the necessary professional and technical qualifications to carry out particular procurements; the financial capacity and adequate personnel to perform the obligations of the procurement contracts.’”

SERAP asserted that these alleged violations have seriously undermined the ability of the CBN to effectively discharge its statutory functions and the public trust and confidence in the bank.

According to the organisation, the apex bank ought to be committed to transparency and accountability in its operations.

It added, “SERAP notes that Section 15(5) of the Nigerian Constitution requires public institutions to abolish all corrupt practices and abuse of power.” Section 13 of the Constitution imposes a clear responsibility on the CBN to conform to, observe and apply the provisions of Chapter 2 of the Constitution.

“Paragraph 3112(ii) of the Financial Regulations 2009 provides that, “Where a public officer fails to account for government revenue, such officer shall be surcharged for the full amount involved and such officer shall be handed over to either the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

“Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the CBN to ensure proper management of public affairs and public funds.

“Nigerians have the right to know the whereabouts of the public funds. Taking the recommended measures would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.

“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their public institutions’ activities.”

Headline

Trump Blasts Ukraine For ‘Zero Gratitude’ Amid Talks To Halt War

Published

12 hours ago

November 23, 2025

Editor

US President Donald Trump on Sunday accused Ukraine again of lacking “gratitude” for Washington’s support against Russia’s invasion, as top US and Ukrainian representatives met in Geneva for talks on a proposal to halt the war.

“UKRAINE ‘LEADERSHIP’ HAS EXPRESSED ZERO GRATITUDE FOR OUR EFFORTS,” Trump wrote on his Truth Social platform, also blasting European countries for not doing enough to stop the war, but offering no direct condemnation of Moscow.

His comments came as US Secretary of State Marco Rubio was meeting with top Ukrainian officials in a wintery Geneva Sunday to discuss the US president’s controversial 28-point plan for ending the nearly four-year conflict.

The Ukrainian delegation, headed by Andriy Yermak, also met with high-level officials from Britain, France and Germany in the Swiss city, as European countries scramble to have a seat at the table in the discussions.

Trump had given Ukraine until November 27 to approve the plan, but Kyiv wants changes to a draft that accepts a range of Russia’s hardline demands, including requiring the invaded country to cede territory, cut its army and pledge never to join NATO.
German Chancellor Friedrich Merz on Sunday said he was “sceptical” a deal could be reached by that deadline.

The US president told reporters Saturday the proposal was not his final offer and he hoped to stop the fighting “one way or the other”, raising hopes that it would be possible to strengthen Kyiv’s position.

– ‘Ukrainian perspectives’ included –

A US official, who asked not to be named, told AFP that a number of meetings were held throughout the day Sunday, with the US and Ukrainian delegation holding “detailed discussions about the peace agreement”.

“It was productive and even conclusive in some areas,” the official said, adding that a second round of talks underway at the US mission in Geneva aimed at “ironing out the details of the agreement”.

By late Sunday afternoon, Ukrainian negotiator Rustem Umerov said the latest version of the US draft plan, which AFP has not seen, “already reflects most of Ukraine’s key priorities”.

Ukrainian President Volodymyr Zelensky also said on social media that the “American proposals may include a number of elements based on Ukrainian perspectives and critical for Ukrainian national interests”, hailing that “diplomacy has been reinvigorated”.

– Recognise European ‘centrality’ –

The US plan was drafted without input from Ukraine’s European allies, who were striving Sunday to make their voices heard and boost Kyiv’s position.

“Ukraine must have the freedom and sovereign right to choose its own destiny. They have chosen a European destiny,” EU chief Ursula von der Leyen said in a statement, stressing that the “centrality” of the European Union’s role must be “fully reflected” in any peace plan.
Ukraine’s European allies gathered at the G20 summit in South Africa stressed that the US plan requires “additional work”.

Finnish President Alexander Stubb told AFP that he and Italian leader Giorgia Meloni had called Trump early Sunday to discuss his Ukraine proposal.

“Of course, we discussed the situation, the 28-point plan, and some of the developments here in Johannesburg related to the peace plan,” he said, declining to reveal the content of the discussions.

French President Emmanuel Macron told a news conference at the G20 that the plan contained points that had to be more broadly discussed as they concerned European allies, such as Ukraine’s NATO ties and Russian frozen assets held in the EU.

He said the 30 countries in the “coalition of the willing” supporting Kyiv will hold a video call on Tuesday following the Geneva talks.
European Union countries were also planning to meet to discuss the Ukraine situation on the sidelines of a meeting with African leaders in Angola on Monday.

– ‘Wish list’ –

Questions were meanwhile being raised over how much input Moscow may have had in drafting the original proposal, which was welcomed by the Kremlin.
Russian President Vladimir Putin has said the blueprint could “lay the foundation” for a final peace settlement, but threatened more land seizures if Ukraine walked away from negotiations.
Ahead of Sunday’s talks, Washington insisted the Trump proposal was official US policy, denying claims by a group of US senators that Rubio told them the document was a Russian “wish list”.

Rubio himself insisted on social media late Saturday that “the peace proposal was authored by the US”.

“It is offered as a strong framework for ongoing negotiations. It is based on input from the Russian side. But it is also based on previous and ongoing input from Ukraine.”
That did not calm all concerns.

“Together with the leaders of Europe, Canada and Japan, we have declared our readiness to work on the 28-point plan despite some reservations,” Polish Prime Minister Donald Tusk said on X Sunday.

“However, before we start our work, it would be good to know for sure who is the author of the plan and where was it created.”

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Pope Leo XIV Demands Immediate Release Of 315 Abducted Niger Students, Teachers

Published

13 hours ago

November 23, 2025

Editor

Pope Leo XIV has appealed for the immediate release of 315 people abducted from St. Mary’s Catholic Primary and Secondary Schools in Papiri, Agwarra Local Government Area of Niger State.

Speaking on Sunday, the Pontiff expressed deep distress over the mass kidnapping, which included students, teachers, priests, and other members of the Catholic community.

“I received with profound sorrow the news of the abduction of priests, faithful, and schoolchildren. I make a heartfelt plea for the swift and unconditional release of all those being held,” Pope Leo XIV said.

The attack occurred in the early hours of Friday when armed men reportedly invaded the private Catholic school in a well-coordinated operation.

According to local sources, the assailants arrived in large numbers, riding on more than 60 motorcycles and supported by a van, before forcing their way into the premises.

During the assault, the school’s gatekeeper was shot and left critically injured.

A resident of Agwarra confirmed the incident, noting that the exact number of abducted students has yet to be verified.

IPOB kicks against Nnamdi Kanu’s transfer to Sokoto prison
“It happened between 3 a.m. and 4 a.m.. The number of students taken is still unclear,” the source said.

Another community source added that several teachers were also seized during the raid, raising further concerns about the scale of the attack and the safety of the victims.

Headline

TikTok Bans 49,512 Live Sessions In Nigeria As Creators Stream Sex Romps

Published

1 day ago

November 22, 2025

Editor

For the first time, TikTok has shared data on its enforcement of Live Monetization guidelines, following a surge in users going live during sexual activity. The platform released the figures during its West Africa Safety Summit in Dakar, Senegal, held in partnership with AfricTivistes.

In the second quarter of 2025, TikTok took action, including warnings and demonetization, against 2,321,813 Live sessions and 1,040,356 Live creators for violating its Live Monetization guidelines.

In Nigeria alone, 49,512 Live sessions were banned during the same period.

The Summit brought together senior government officials, policy experts, NGOs, regulators, media representatives, and industry leaders from West African nations, including Nigeria, Senegal, Mali, Côte d’Ivoire, Burkina Faso, Chad, and Ethiopia.

Delegates discussed strategies to strengthen user protection and content moderation frameworks tailored to regional challenges.

The event marked a pivotal moment for TikTok’s regional safety efforts and its commitment to upholding global safety standards across Sub-Saharan Africa.

Experts shared insights, examined online safety challenges, and explored collaborative measures under TikTok’s #SaferTogether initiative.

TikTok’s Outreach and Partnerships Manager for Sub-Saharan Africa, Duduzile Mkhize, emphasized the platform’s commitment to enhancing user security through stakeholder collaboration.

She stated: “While global, we remain hyper-local in our day-to-day efforts. The dialogue at this Summit is invaluable because only through insights sharing and collaboration with policymakers and local partners across West Africa can we prevent a fragmented and insecure digital environment.

“United action can help us guarantee a safe space for our community to discover, create, and connect responsibly.”

A key partner in this effort is Nigeria’s Dr. Akinola Olojo, expert on preventing and countering violent extremism, and member of TikTok’s Sub-Saharan Africa Safety Advisory Council.

He said: “The convening of various stakeholders in Dakar, sharing insights for collaborative action, proves that the work we do alongside TikTok is not in vain.

“We must move beyond reactive measures and continue to build proactive systems that empower communities to resist radicalization and leverage online spaces for positive social impact.”

Globally, TikTok removed over 189 million videos in the same quarter, representing just 0.7% of all content uploaded. Of these, 163.9 million were flagged by AI-driven moderation systems.

Notably, 99.1% of removals were detected proactively, and 94.4% were taken down within 24 hours. The platform also removed 76,991,660 fake accounts, alongside 25,904,708 accounts suspected to belong to users under the age of 13.

In Nigeria, TikTok removed 3,780,426 videos between April and June 2025 for violating Community Guidelines. Impressively, 98.7% were removed before being viewed, and 91.9% were taken down within 24 hours.

The data, released in TikTok’s Quarter 2 2025 Community Guidelines Enforcement Report, underscores the platform’s ongoing commitment to creating a safe digital space for its users.