Headline

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

FULL LIST: 13 More Cars Now Eligible For Up To £3,750 UK’s Electric Vehicle Grant

Published

8 hours ago

August 10, 2025

Editor

The United Kingdom (UK) government has announced 13 additional cars that qualify for its new electric vehicle grant. None of them currently qualify for the full discount available.

According to a statement on the government’s website, Transport Secretary Heidi Alexander confirmed that from August 5, buyers can get £1,500 off four Citroën models – the Citroën ë-C3, ë–C4, ë-C5 and the ë-Berlingo. The discount will be applied automatically at purchase, with no extra paperwork required.

These are the first models approved under the £650 million Electric Car Grant (ECG) scheme. More vehicles are expected to be added in the coming weeks. The ECG allows carmakers to apply a discount at the point of sale for eligible electric vehicles that meet high sustainability standards.

The scheme is funded until the 2028–2029 financial year and aims to boost EV sales, support jobs, and attract investment.

Since July 2024, over 17,300 public chargepoints have been installed in the UK — a 27% increase from last year — bringing the total to more than 82,000. The government plans to expand this to over 100,000 in the coming years, with a new chargepoint added roughly every 30 minutes.

Models from Renault, Nissan and Vauxhall are also now eligible for the £1,500 grant, although none meet the criteria for the full £3,750 discount yet as they are classified among the Band 2 cars. Nissan believes its new Leaf, to be built in Sunderland, may qualify for the higher grant, but this is not confirmed.

Eligibility Criteria

To qualify for the grant, a vehicle must:
Be an M1 passenger vehicle
Produce 0g CO₂/km at the tailpipe

Have a minimum range of 100 miles (160 km)
Include a 3-year or 60,000-mile warranty (whichever comes first)

Be powered by a battery with an 8-year or 100,000-mile warranty (whichever comes first)

Meet minimum sustainability standards

Cars Eligible for EV grants
Nissan

Micra – Based on the Renault 5 with some design changes, sharing the same motors and batteries. Starting price after the grant is under £22,000.

Ariya – Electric SUV with a spacious interior. Nissan plans to reduce the price to qualify for the grant.

Leaf – The new model offers up to 375 miles of range. Nissan expects it may qualify for the full grant.

Renault & Alpine

Renault 5 – Compact hatchback priced under £23,000 before the grant.
Renault 4 – Larger and roomier than the Renault 5, starting at £27,000.
Renault Megane – Modern design with Google-based infotainment. Prices start at £32,500.
Renault Scenic – Family-sized EV with up to 381 miles of range. Starts at £35,495 after the grant.
Alpine A290 – Performance-focused version of the Renault 5.

Vauxhall

Corsa Electric – Small hatchback with potential savings beyond the grant.
Combo Life Electric – Practical MPV with a spacious interior.
Astra Electric – Family car available in hatchback or estate form.
Mokka Electric – Compact SUV with distinctive styling.
Frontera Electric – Affordable SUV with a large boot.
Grandland Electric – Larger family SUV with a lower price than some competitors.

Citroën

ë-C3 – Compact EV priced from £20,600 after the grant.

ë-C3 Aircross – Larger version of the ë-C3 with more boot space.
ë-C4 – Alternative to the VW ID.3 with a simpler interior layout.
ë-C4 X – Saloon-style version of the ë-C4.
ë-C5 Aircross – Flagship SUV arriving in the UK in October 2025.
ë-Berlingo – Large electric MPV with a focus on practicality.

The government has confirmed more models from other manufacturers will be added to the scheme as they are approved.

Headline

Three Ghanaian Nationals Extradited To US In $100m Online Fraud Case

Published

21 hours ago

August 9, 2025

Editor

Three Ghanaian nationals accused of orchestrating a $100 million online fraud scheme targeting U.S. businesses and vulnerable Americans have been extradited to New York, federal prosecutors announced Friday.

Isaac Oduro Boateng, a/k/a “Kofi Boat,” Inusah Ahmed, a/k/a “Pascal,” and Derrick Van Yeboah, a/k/a “Van,” arrived in New York on August 7 after being extradited from Ghana.

They are scheduled to appear before U.S. Magistrate Judge Robert W. Lehrburger. A fourth defendant, Patrick Kwame Asare, a/k/a “Borgar,” remains at large.

According a post on the FBI website on Friday

“As alleged, Isaac Oduro Boateng, Inusah Ahmed, Derrick van Yeboah, and Patrick Kwame Asare led and participated in an international fraud ring that engaged in a massive conspiracy to defraud vulnerable people and steal from businesses,” said U.S. Attorney Jay Clayton.

“Offshore scammers should know that we, the FBI, and our law enforcement partners will work around the world to combat online fraud and bring perpetrators to justice.”

All these are detailed in a press release dated August 8, 2025, on the United States Attorney’s Office, Southern District of New York.

FBI Assistant Director in Charge Christopher G. Raia said, “Deceiving businesses using email compromise campaigns and tricking innocent elderly victims through fraudulent companionship in order to exploit their trust and finances is not merely appalling but illegal.

“The FBI will continue to ensure anyone who preys on companies and vulnerable Americans online is made to face the criminal justice system.”

Prosecutors say the defendants held senior positions in a Ghana-based network that posed as romantic partners to older victims and used fraudulent emails to trick companies into wiring funds.

After securing the money, the proceeds were allegedly laundered through West Africa, often directed by “chairmen” such as Boateng and Ahmed.

All four defendants face multiple federal charges, including wire fraud, money laundering, and receiving stolen funds, with each wire fraud count carrying a maximum penalty of 20 years in prison.

The case is being handled by the Southern District of New York’s Complex Frauds and Cybercrime Unit.

Headline

Israeli Fire Kills 34 In Gaza

Published

21 hours ago

August 9, 2025

Editor

Gaza’s civil defence agency said at least 34 people were killed by Israeli fire on Saturday, including more than a dozen civilians who were waiting to collect aid.

Civil defence spokesman Mahmud Bassal told AFP nine people were killed and 181 wounded when Israeli forces opened fire on them as they gathered near a border crossing in northern Gaza that has been used for aid deliveries.

Six more people were killed and 30 wounded after Israeli troops targeted civilians assembling near an aid point in central Gaza, he said.

Strikes in central Gaza also resulted in multiple casualties, according to Bassal, while a drone attack near the southern city of Khan Yunis killed at least three people and wounded several others.

Media restrictions in Gaza and difficulties accessing swathes of the territory mean AFP is unable to independently verify the tolls and details provided by the civil defence and the Israeli military.

Thousands of Palestinians congregate daily near food distribution points in Gaza, including four managed by the US- and Israeli-backed Gaza Humanitarian Foundation.

Since launching in late May, its operations have been marred by almost-daily reports of Israeli forces firing on those waiting to collect aid.

Israeli restrictions on the entry of supplies into Gaza since the start of the war nearly two years ago have led to shortages of food and essential supplies, including medicine and fuel, which hospitals require to power their generators.

Prime Minister Benjamin Netanyahu faces mounting pressure to agree to a ceasefire to bring the territory’s more than two million people back from the brink of famine and free the hostages held by Palestinian militants.

But early Friday, the Israeli security cabinet approved plans for a major operation to seize Gaza City, triggering a wave of outrage across the globe.

Despite the backlash and rumours of dissent from Israeli military top brass, Netanyahu has remained defiant over the decision.

In a post on social media late Friday, he said, “We are not going to occupy Gaza — we are going to free Gaza from Hamas.”

The Palestinian militant group, whose October 7, 2023, attack triggered the war, has slammed the plan to expand the fighting as a “new war crime”.

Israel’s offensive has killed more than 61,000 Palestinians, according to Hamas-run Gaza’s health ministry, figures the United Nations says are reliable.

Hamas’s 2023 attack on Israel resulted in the deaths of 1,219 people, according to an AFP tally based on official figures.

AFP