News
CBN Sued Over Failure To ‘Account For Missing N100bn Dirty Notes, Other Public Funds’

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure 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 the suit number FHC/L/MSC/441/2024 filed last week at the Federal High Court, Lagos, SERAP is asking the court to “direct and compel the CBN to explain the whereabouts of the over N100 billion dirty and bad notes kept in various branches of the Central Bank of Nigeria (CBN) since 2017.”
SERAP is also asking the court to “direct and compel the CBN to explain the whereabouts of the N7.2bn meant for the construction of the CBN Dutse branch building in 2010 and the N4.8bn meant for the renovation of the CBN Abeokuta branch in 2009 and to publish the names of contractors who collected the money.”
SERAP is asking the court to “direct and compel the CBN to explain the whereabouts of the allegedly missing outstanding loan of N1.2bn granted to the Enugu State government in 2015 and the outstanding loan of N1.9bn granted to the Anambra state government between 2015 and 2016.”
In the suit, SERAP is arguing that, “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.”
READ ALSO: Account For Missing N100bn Dirty Notes, Others, SERAP Drags CBN Gov
SERAP is also arguing that, “These grim allegations by the Auditor-General of the Federation suggest grave violations of the public trust, the provisions of the Nigerian Constitution, the CBN Act, and national and international anticorruption obligations.”
According to SERAP, “These grave 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 anti-corruption standards.”
SERAP is arguing that, “These allegations have seriously undermined the ability of the CBN to effectively discharge its statutory functions and the public trust and confidence in the bank. The CBN ought to be committed to transparency and accountability in its operations.”
The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Mrs Adelanke Aremo, read in part: “Nigerians have the right to know the whereabouts of the public funds. Granting the reliefs sought would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.”
“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.’”
READ ALSO: SERAP Sues Tinubu, Demands Details Of Obasanjo, Buhari, Others’ Loans
“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 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 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 handled 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.”
READ ALSO: [JUST IN] Budget Padding Controversy: SERAP Drags Akpabio To Court
“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.”
“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 [N100,672,999,000.00] ‘dirty and bad notes’, and other large sum 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 ‘be 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 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 incompetent contractor,’ and wants the ‘job completed without further delay.’”
READ ALSO: SERAP Sues 36 Governors, FCT Minister Over FAAC Allocations
“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 incompetent contractor,’ and wants the ‘job completed without further delay.’”
“The CBN also reportedly failed to account for the missing outstanding loan of N1.2 billion [N1,294,453,887.83] granted to the Enugu state government in 2015 and the outstanding loan of N1.9 billion [N1,994,383,561.64] 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.” No date has been fixed for the hearing of the suit.
News
Remain Apolitical – NAF Warns Personnel

The Nigerian Air Force (NAF) has called on all personnel not to involve themselves in any political activities in the discharge of their professional responsibilities.
Air Vice Marshal (AVM) Usman Abdullahi, the Air Officer Commanding, Special Operations Command, Bauchi, made the call during the 2025 annual 10-kilometer walk and jog exercise organised by the Nigerian Air Force.
He also called on the personnel not to involve themselves in activity that is inimical to the calling of the military profession.
“You must remain apolitical. Don’t involve yourselves in any political activities and do not involve yourselves in activity that is inimical to the calling of our military profession.
READ ALSO:NAF Announces Two-hour Road Closure In Abuja For 10km Walk
“I urge you to remain loyal to the Federal Republic of Nigeria and the President and the Commander in-Chief of the Federal Republic of Nigeria,” he said.
Abdullahi, who emphasised that the NAF pays serious attention to physical fitness for all its personnel, said that the exercise was to increase their cohesion, keep their mental fitness as well as for them to be on the alert at all times.
He commended the Bauchi state government for their cooperation and synergy as well as the creation of an enabling environment.
Also speaking shortly after the 10-kilometer walk and jog, governor Mohammed said the participants’ outstanding performances were the result of discipline, consistency and determination to succeed.
READ ALSO:NAF To Close Lagos Airport Road For Fitness Walk
These qualities, he said, were central not only to physical fitness but also to succeed in every area of life, adding that they had demonstrated team work, endurance and commitment to the values that made the Nigerian Air Force a model institution.
Represented by his Deputy, Alh. Auwal Jatau, the governor, said the exercise was more than just a fitness exercise but a celebration of unity and shared purpose.
“Seeing officers comprising airmen, airwomen, sister security services, paramilitary agencies, and NYSC members come together in such a lively atmosphere reminds us that sports and fitness can be powerful tools for strengthening peace and solidarity.
READ ALSO:NAF Begins Recruitment Of Airmen, Airwomen
“Here in Bauchi State, we take pride in the harmonious relationship between the government, the Nigerian Air Force and all security agencies operating within the State.
“The Special Operations Command and other military and paramilitary formations have played a vital role in maintaining the relative peace and security that our people enjoy today,” he said.
Nothing less than 32 people received different prizes for their outstanding performances during the exercise which included Airmen, Airwomen, Nigeria Immigration Service, Customs Service and civilians among others.
News
Edo: Real Estate Firm Unveils Renowned Media Personality, Okosun, As Brand Ambassador

It was an atmosphere of excitement blended with professional elegance at the University of Benin on Friday as renowned media personality, philanthropist, and influential leader, Dr. Sunny Duke Okosun, was made brand ambassador of UNILODGE Group of Companies.
Speaking at the event, Founder and Managing Director of the UNILODGE Group of Companies, Mr. Goodnews Obayuwana, said the act was not just a partnership, but to forge an alliance.
“An alliance between solid foundations and far-reaching influence; between brick-and-mortar and the power of human connection,” he added.
He described the brand ambassador —Okosun —as not just a familiar face in the media space, but a kindred spirit man whose “work ethic, integrity, and profound impact on this state mirror the very values upon which UNILODGE was built.”
READ ALSO:Police Recover 75 Stolen Phones, Five Laptops In Lagos
“His accomplishments are not merely personal triumphs; they are testaments to his ability to mobilize, inspire, and get things done,” the CEO added.
In his acceptance speech, the brand ambassador —Okosun — expressed delight, said: “Thank you, Mr. Obayuwana, for those incredibly generous words, and for the immense trust you and the entire UNILODGE family have placed in me today,” Dr. Okosun commenced.
“When we first discussed this vision, I was struck not only by the robustness of the UNILODGE portfolio but by the authenticity of its mission. This is not just about selling properties; it is about curating homes, enabling legacies, and building communities,” he said.
News
Man Shares Journey Of Living As Female For 25 Years Before Transition

Tosin Odunlami, a Nigerian-born intersex advocate, has opened up about his journey of self-discovery, transition, and his ongoing fight to promote intersex visibility and inclusion in Nigeria.
In an interview released on Friday by The Podcast Network, Odunlami reflected on his childhood, his experience living 25 years as a female, and the challenges of navigating identity in a society that often misunderstands intersex persons.
Intersex is a term used to describe people who are born with physical or biological traits, such as chromosomes, hormones, or reproductive organs, that don’t fit the typical definitions of male or female bodies.
According to a landmark study by biologist Dr Anne Fausto-Sterling (2000) of Brown University, up to 1.7% of the global population is born with intersex traits.
However, later research by Dr Leonard Sax (2002) published in the Journal of Sex Research estimated a narrower range of about 0.018%, depending on which medical conditions are classified as intersex.
Despite these variations, both studies affirm that intersex variations are a natural part of human diversity, not disorders or abnormalities, a position also supported by the United Nations Free & Equal campaign (2019) and the World Health Organisation (WHO, 2022).
READ ALSO:Ebonyi Auto Crash Kills Six, Injures 14
Tosin began by clarifying common misconceptions about gender identity. “Intersex persons are not transgender. Neither are they gay or lesbian,” he said. “Intersex means being born with biological variations, it could be internal, chromosomal, or genital.”
“It’s a privilege for me to speak about my experience. I discovered that I’m an intersex person at age 25. Basically, I lived all my life for 25 years as a female, and it wasn’t eas,” he said.
When asked whether he is medically capable of reproduction, Tosin confirmed that he can reproduce as a man, “Yes, because I’ve done some examinations.”
Born and raised in Nigeria, Odunlami recounted growing up under societal pressure to conform to the gender assigned at birth.
“You have to behave in the female way, And if you’re not doing all of that, the society and the community start looking at you in a certain way.”
READ ALSO:ALGON Orders Edo Council Officials To Wear Tinubu’s signature Caps
He revealed that during puberty, he noticed bodily changes that made him question his identity, but fear and stigma kept him silent.
“I started seeing some changes in my body, and I was scared. I couldn’t talk to anyone because when you tell them this is what you’re seeing in your body, they decide to discriminate or tell you you’re taboo,” he said.
Odunlami shared how his mother discovered his condition and sought medical help. However, the doctors themselves were confused.
“The doctor did not even know who I am. They tried to confirm me to their ascribed gender and said they had to do surgery to cut off what they were seeing,” he recounted.
He described how his mother rejected the risky surgical option and instead turned to religious interventions.
“My mom took me to several churches; they gave me soaps and prayers, just to make me grow breasts,” he said, recalling years of internal struggle and isolation.
At university, he continued to live as a woman but in secrecy. “I lived with two females in the same room, and when we were dressing up, I shifted myself to the corner. I wore padded bras because I wanted to fit in,” he said.
READ ALSO:Brigadier-General, Other Officers Detained Over Alleged Coup Plot To Overthrow President Tinubu
Odunlami’s transition came after a medical consultation confirmed that his hormones were predominantly male.
“The doctor said my hormones are more male hormones. That was when I told the doctor, ‘Okay, I think I’m going to come to the male gender,’” he explained.
Speaking on how people reacted to his transition, he said, “Some were surprised, some were supportive, and some are still anxious about it. But I’m always open to share with them.”
On his sexual orientation, Odunlami said he is attracted to females. “I’m attracted to women, emotionally, mentally, and physically,” he said, clarifying that being intersex does not define his sexuality.
Speaking about his church community, he revealed how he came out to his pastor and congregation: “On a Sunday, he said I should come out and you know, it’s also a form of advocacy — educating people, mothers, adults, youths on all of this.”
READ ALSO:Clemency: CSOs Carpet Presidency Over Comment On Ken Saro-Wiwa
He continued, “Although it was a shock to them, they were like, ‘No, Sister Esther?’ Because then I was ascribed a female gender, so my first name is Esther. They were saying, ‘What? Sister Esther? Are you a trans? Are you gay?’ They didn’t really understand the whole situation, even after I shared with them that this is me, I’m an intersex person.”
He added that although some members initially distanced themselves, others eventually accepted him.
“Some were like, ‘Don’t near my female daughter,’ and I was a children’s teacher, so I had to step back to see how they received the information. But later they were all open arms, they received me back, and I started teaching again.”
When asked whether being intersex makes one a member of the LGBTQIA+ community, Tosin clarified that intersex persons form part of the wider group while maintaining their distinct identity.
“The ‘I’ in the LGBTQIA, that’s intersex,” Tosin explained. “We can stand alone, and as well we cannot stand alone. We are part of the community because we work together in different ways, for programming, advocacy, and education. Sometimes, Intersex Nura even educates the LGBT community. So we are a community of one.”
Tosin, however, noted that being intersex does not automatically determine sexual orientation, “An intersex person does not necessarily identify as lesbian, gay, or bisexual,” they said. “All of that does not necessarily apply.”
READ ALSO:FULL LIST: Highest Goal Scorers In Europe’s Top Five Leagues
Speaking further, Tosin said there is a growing intersex community in Nigeria that meets regularly for support and advocacy.
“We have intersex persons in different states across Nigeria. We hold monthly check-ins and community meetings. On October 26, we’ll celebrate Intersex Awareness Day, a day to celebrate our growth, resilience, and visibility,” Tosin added.
They also highlighted ongoing collaborations between Nigerian intersex advocates and global organisations, “There is international support,” Tosin noted.
“The Executive Director of Intersex Nigeria, Obioma, is part of the Intersex Alliance Movement globally, working to advance advocacy and programming. We also receive funding and support from international organisations for our work here in Nigeria.”
Reflecting on faith and acceptance, he described how his church community ultimately responded positively. “I had this peace, that I am living my full self,” he said.
Now an active intersex advocate, Odunlami continues to champion inclusion and awareness through public speaking and advocacy efforts. “It’s not a disability,” he affirmed again. “I’m a normal person like every other person.”
(PUNCH)
- News4 days ago
Edo Assembly Commission Questions Clerk Over Alleged Age Falsification
- News2 days ago
Tragedy In The Sky As Pilot Dies Mid-air
- News4 days ago
JUST IN: Okpebholo Assigns Portfolios To Commissioners, Makes Major Reshuffle
- News4 days ago
Better Days Ahead, New Bendel Insurance Coach Assures
- News4 days ago
Abductors Demand ₦5m As Teenager Is Kidnapped In Edo
- News4 days ago
Admissions: Mathematics No Longer Compulsory For Arts Students, Says FG
- Metro5 days ago
Retired Principal kidnapped In Edo, Abductors Demand N70m
- News3 days ago
BREAKING: Bayelsa Governor, Douye Diri Dumps PDP For APC
- Politics1 day ago
Why Wike Is Always Attacking Peter Obi — Obidient Movement
- News3 days ago
Coup Prophecy: It’s False Spirit -Mahdi Shehu Tells Primate Ayodele