News
CBN Sued Over Failure To ‘Account For Missing N100bn Dirty Notes, Other Public Funds’
Published
1 year agoon
By
Editor
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.
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News
JUST IN: DSS Writes X, Wants Sowore’s Account Deactivated Over Tweet Targeting Tinubu
Published
1 hour agoon
September 7, 2025By
Editor
The Nigeria’s Department of State Services (DSS) has petitioned the Chairman and CEO X Corp., Elon Musk’s controlling company managing the popular social media app, X (formerly Twitter), over a tweet by activist Omoyele Sowore.
The Nigeria’s intelligence security agency, in a petition addressed to the Chairman and CEO of X Corp. Bastrop County in Texas, United States of America (USA) and dated September 6,2025, accused Sowore of targeting President Bola Ahmed Tinubu with a disparaging and ridiculous tweet capable of creating political tension and threatening the country’s national security.
The DSS, in its petition, also accused Sowore of spreading misleading information and willful intention to furthering an ideology capable of serious harm, incitement to violence, cyber crime, hate speech to discredit Tinubu, therefore calling on the social media company to ban or deactivate the verified X handle of the former presidential candidate of the African Action Congress (AAC).
The agency, while referencing the tweet, said those words are personally targeted at Tinubu with the president’s X handle mentioned by Omoyele Sowore, stating that the tweet is against the transparency on X and Government has frowned at it and found it extremely dangerous, false, and privacy violation behavior.
The petition, signed by B. Bamigboye, on behalf of DSS; Director General State Services, reads:
“We detected and monitored with dismay and consternation a widely condemned publication/trending Tweet by Omoyele Sowore on his X official handle page @YeleSowore on 25th August, 2025 about 11:38 PM local time (2338 hours) WAT disparaging and ridiculing the President of the Federal Republic of Nigeria.
READ ALSO: Her Fight Is Ours, Sowore Vows Justice For Corps Member Denied Certificate
The Tweet read: “This criminal @officialABAT actually went to Brazil to state that there is NO MORE corruption under his regime in Nigeria. What audacity to lie shamelessly!”
“Those words were personally directed at Mr. President through his official communication channel @officialABAT which is the known X handle of the President of the Federal Republic of Nigeria. The said tweet is herewith attached and will be referenced on herein for emphasis and necessary action.
“The said tweet is still in circulation and has attracted widespread condemnation by majority of Nigerians, some of whom may resort to unwholesome activities to vent their grievance over it, especially supporters of the President who have started taking to the streets in protest, thereby creating political tension and threatening the country’s national security. This is in addition to the disparaging effect the tweet has on the reputation of Mr. President and the country before the comity of nations.
READ ALSO:Her Fight Is Ours, Sowore Vows Justice For Corps Member Denied Certificate
“The tweet under reference is against the transparency on X and Government has frowned at it and found it extremely dangerous, false, privacy violation behavior that manipulate and negatively impacts on the person of the President and the Country.
“It is pertinent to bring to your knowledge that under the Nigerian Law, these quoted tweets/words constitute offence punishable in Section 51 of the Criminal Code Act Cap.77 Laws of the Federation of Nigeria, which prohibits publication of false information; Sections 19,22 and 24 of the Cyber Crimes Act 2025 which prohibits and makes it an offence to spread fake news or publishing content that is deliberately misleading or deceptive, posting content that is rude, vulgar, offensive, or indecent, especially with the intent to embarrass or humiliate others, provoke ethnic, religious, or tribal hatred through online or offline statements; amounting to domestic terrorism. The Law also makes the offender and the medium through which the offence is perpetrated/propagated culpable and criminally liable too. The author and purveyor of the inflammatory online publication against Mr. President is very much aware that the publication is also prohibited by Section 2(3) of the Terrorism (Prevention and Prohibition) Act, 2022 and other relevant Laws of the Federal Republic of Nigeria.
READ ALSO: DSS Plans Schools, Religious Centres To Tame Terrorism
“It is not in doubt that the words employed by Mr. Omoyele Sowore is misleading information, online harassment and abuse, willful intention of furthering an ideology capable of serious harm, hate speech, cause disunity, discredit/disparage the President of the Federal Republic of Nigeria within the Comity of Nations to damage the image of Nigeria and cause serious threat to national security of the Federal Republic of Nigeria.
“It is against the above highlighted backdrop that we make an immediate and urgent demand on your Corporation to as a matter of its own policy, immediately TAKE DOWN the tweet and its attendant re-tweets.
This demand is unequivocal with its attendant consequence. Should you fail, neglect and refuse to comply with the command in this notice, the Federal Government will be compelled to take far-reaching, sweeping and across-the-board measures through our Organization, whose mandate covers such criminal acts.
In the light of the above having been made official to you, 24 hours is sufficient enough to take necessary action.”
News
W’Cup Qualifiers: Super Eagles Edge Rwanda 1-0 To Revive Qualification Hopes
Published
14 hours agoon
September 6, 2025By
Editor
In a high-stakes 2026 FIFA World Cup qualifier at the Godswill Akpabio International Stadium in Uyo, Nigeria secured a vital 1–0 victory over Rwanda, breathing new life into their qualification hopes.
The only goal of the match came in the 51st minute when Tolu Arokodare capitalized on a loose ball in the penalty area, slotting it past Rwanda’s goalkeeper to give Nigeria a crucial lead.
The first half ended goalless, with both teams cautious in their approach. Nigeria’s defense, marshalled by Calvin Bassey, held firm despite Rwanda’s tactical shifts in the second half.
READ ALSO:
Nigeria suffered a blow as star striker Victor Osimhen limped off in the first half, replaced by Cyril Dessers. Despite the setback, the Super Eagles maintained pressure to secure the vital win.
The victory moves Nigeria to 10 points from 7 matches in Group C, while Rwanda remains on 8 points, making the race for World Cup qualification even tighter.
Fans reacted passionately on social media platforms, with many praising the team’s resilience and expressing concern over Osimhen’s injury.
Looking ahead, Nigeria will aim to build on this momentum in their upcoming fixtures to secure a spot at the 2026 World Cup.
News
NCDC Alerts Nigeria As DR Congo Declares Ebola Outbreak
Published
14 hours agoon
September 6, 2025By
Editor
The Nigeria Centre for Disease Control and Prevention (NCDC) has issued a public health advisory following the confirmation of a new Ebola Virus Disease (EVD) outbreak in the Democratic Republic of Congo (DRC).
As of September 4, 2025, the DRC has reported 28 suspected cases and 15 deaths, including four health workers, in the Kasai Province.
The Director-General of NCDC, Dr. Jide Idris, said the agency will continue to monitor the regional and global situations as there are no cases of Ebola virus disease in Nigeria, as of now.
However, the NCDC is taking proactive measures to prevent the spread of the disease, and it is working closely with relevant Ministries, Departments, Agencies, and Partners to strengthen preparedness and response measures in Nigeria.
READ ALSO:Ebola In Uganda: NCDC Ups Preparedness, Cautions Nigerians On Travel
Idris urged Nigerians to practice good hand hygiene by washing their hands regularly with soap under running water or using hand sanitisers. He also advised Nigerians to avoid physical contact with anyone showing symptoms of infection or an unknown diagnosis.
Additionally, individuals should handle animals with gloves and protective clothing, and cook animal products thoroughly to reduce the risk of wildlife-to-human transmission.
Furthermore, people should avoid direct contact with the blood, saliva, vomit, urine, and other bodily fluids of suspected or confirmed EVD cases.
The NCDC advises Nigerian citizens and residents to avoid all but essential travel to countries with confirmed Ebola cases. Those with recent travel history to affected areas who experience symptoms should promptly call the NCDC hotline (6232) or their State Ministry of Health hotline for assessment and testing.
READ ALSO:NCDC Confirms 80 Deaths From 413 Lassa Fever Cases In 11 States
They should also shelter-in-place to avoid further spread through shared transport systems and await dedicated responders for assessment and possible transport to a treatment centre.
The NCDC is strengthening surveillance across the country, including borders and airports, and enhancing laboratory capacities for quick testing of suspected cases.
Idris assured that the agency will continue to provide periodic updates on the situation as the Ebola outbreak in the DRC is caused by the Zaire strain, with a mortality rate estimated at 57%.
The World Health Organisation (WHO) has deployed experts to support response efforts, and the DRC has activated its Public Health Emergency Operations Centre.
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