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Probe Missing, Unaccounted $3.4bn IMF Loan, SERAP Tells Tinubu

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Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to direct the Attorney-General of the Federation and Minister of Justice Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly probe the allegations that $3.4 billion loan obtained from the International Monetary Fund (IMF) is missing, diverted or unaccounted for.”

The 2020 annual audited report published last week by the Auditor-General of the Federation documents revealed damning revelations including that there was no document to show the movement and spending of the IMF loan.

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SERAP also urged him to ensure that, “anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing IMF loan should be fully recovered and returned to the public treasury.”

In the letter dated 3 February 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “There is a legitimate public interest in ensuring justice and accountability for these serious allegations. Taking these important measures would end the impunity of perpetrators.”

SERAP said, “Servicing IMF loan that is allegedly missing, diverted or unaccounted for is double jeopardy for Nigerians—they can neither see nor benefit from the projects for which the loan was approved; yet, they are made to pay both the loan and accrued interests.”

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READ ALSO: SERAP Sues NNPC Over Failure To Account For Nigeria’s Daily Oil Production, Revenues

According to SERAP, “Any failure to investigate these grave allegations, bring suspected perpetrators to justice and recover any missing IMF loan would have serious resource allocation and exacerbate the country’s debt burden.”

The letter, read in part: “We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.”

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“The Auditor-General recommends that the money be fully recovered and remitted to the public treasury and those suspected to be involved ‘sanctioned and handed over to anticorruption agencies’.”

“The allegations of corruption in the spending of IMF loan documented by the Auditor-General undermine economic development of the country, trap the majority of Nigerians in poverty and deprive them of opportunities.”

“The allegations suggest a grave violation of the public trust, the provisions of the Nigerian Constitution 1999 (as amended), the country’s anticorruption legislation and international anticorruption obligations including under the UN Convention against Corruption.”

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“According to the 2020 annual audited report by the Auditor-General of the Federation published last week, the US$3.4 billion emergency financial assistance obtained from the International Monetary Fund (IMF) to finance the budget and manage the health crisis stemming from the outbreak of COVID-19 pandemic may have been missing, diverted or unaccounted for.”

READ ALSO: SERAP Drags Akpabio, Oshiomhole, Others To Court, Wants Their Salaries, Pensions Stopped

“According to the Auditor-General, no information or document was provided to justify the movement and spending of Fund.”

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“The Auditor-General wants the money recovered and remitted to the public treasury and for the evidence of remittance to be forwarded to the Public Accounts Committee of the National Assembly.”

“The Auditor-General also recommends that anyone suspected to be involved should be ‘sanctioned and handed over to the EFCC and ICPC for investigation and prosecution, as provided for in paragraph 3112 of the Financial Regulations’.”

“According to reports, Nigeria is expected to spread the payment of the IMF loan from 2023 to 2027. The first instalment, due in 2023, is worth $497.17 million. The second instalment, due in 2024, will be worth $1.76 billion. The third instalment, due in 2025, will be worth $865.27 million.”

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“The final two instalments, due in 2026 and 2027, will each be worth $33.99 million. These instalments will only be interest payments.”

“Investigating the allegations and naming and shaming and prosecuting those suspected to be responsible for the missing IMF would serve the public interest and end the impunity of perpetrators.”

READ ALSO: SERAP, 20 Others Sue Akpabio, Abbas, Others For Increasing Own Budget By N147bn

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“Impunity for corruption in the management of loans obtained by Nigeria will continue as long as high-ranking public officials go largely unpunished for their alleged crimes. It is by pursuing these allegations and taking the evidence before the court that the truth will be revealed and justice best served.”

“SERAP notes that the consequences of corruption are felt by citizens on a daily basis. Corruption exposes them to additional costs to pay for health, education and administrative services.”

“SERAP notes that your government has a sacred duty to ensure that the country’s loans including those obtained from the IMF are transparently and accountably used solely for the purposes for which the loans are obtained, and for the effective development of public goods and services as well as the general public interests.”

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“This implies providing strong leadership in the efforts to curb public sector corruption, and to refer to appropriate anticorruption agencies any allegations of corruption in which any officials and agencies of government may be involved or complicit.”

“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on your government to conform to, observe and apply the provisions of Chapter 2 of the constitution. Section 15(5) imposes the responsibility on your government to ‘abolish all corrupt practices and abuse of power’ in the country.”

READ ALSO: Disclose How Much Oil Nigeria Produces, Exports Daily, SERAP Tells NNPC

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“Under Section 16(1) of the Constitution, your government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity.’”

“Section 16(2) further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”

“Similarly, articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on your government to ensure proper management of public affairs and public funds including loans obtained by the country, and to promote sound and transparent administration of public affairs.”

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“The UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to which Nigeria is a state party obligate your government to effectively prevent and investigate allegations of corruption and mismanagement of public funds including loans obtained by the country.”

“Specifically, article 26 of the UN convention requires your government to ensure ‘effective, proportionate and dissuasive sanctions’ including criminal and non-criminal sanctions, in cases of grand corruption.”

“Article 26 complements the more general requirement of article 30, paragraph 1, that sanctions must take into account the gravity of the corruption allegations.”

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NAS Offers Free Medical Services To Over 800 Residents In Imo Community

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National Association of Seadogs (Pyrates Confraternity) has provided free medical services to more than 800 residents of the Orogwe community in the Owerri West Local Government Area of Imo State as part of the association’s humanitarian service.

The medical mission, held at the National Primary Healthcare Centre, was part of the association’s 49th National Konverge and Annual General Meeting in Owerri.

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The event offered diagnosis, treatment, and essential medications to hundreds of community members, many of whom had been unable to access healthcare due to financial hardship.

NAS Cap’n, Dr Joseph Oteri, said the initiative was part of the confraternity’s broader vision to support vulnerable communities and bring healthcare directly to those most in need.

“This programme targets those who ordinarily cannot afford basic healthcare, especially treatment for non-communicable diseases,” Oteri said.

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READ ALSO: Seadogs Champions Social Justice Through Inaugural Art Exhibition In Owerri

“Today, we attended to a child with a serious condition. Thankfully, we had a paediatrician on the ground who stabilised her and referred her to the Federal Medical Centre, Owerri. We’ve also identified a few cases that will require surgery, and we plan to support their hospital bills.”

He emphasised that NAS, formed in 1952 by seven young idealists including Imo-born Ralph Opara, has evolved into a formidable force for social advocacy, committed to humanitarian and civic interventions.

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Dispelling common misconceptions about the association, Oteri said: “We are not a cult group. We exist to protect the downtrodden and drive positive societal change.”

The association’s Chief Programme Officer, Chief Bart Akelemor, echoed this commitment, stressing that the NAS legacy is one of access, equity, and community service.

“Our mission is to promote a just society where citizens can access resources such as healthcare, education, and employment,” Akelemor said.

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READ ALSO: Seadogs Want FG Declares State Of Emergency On Kidnapping As Insecurity Worsens Nationwide

“With Nigeria’s growing population and the acute shortage of doctors and functioning medical facilities in rural areas, bringing this medical outreach to Orogwe is both timely and necessary.”

According to him, 41 volunteer doctors, drawn from across Nigeria and the diaspora, participated in the programme, attending to hundreds of patients with ailments ranging from malaria and hypertension to vision and dental issues.

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One of the beneficiaries, Mrs Chizoba Igwe, who received treatment for malaria, described the initiative as a “life-saving intervention.”

With the way things are in the country now, I couldn’t afford hospital bills or medication,” she said.

“This free treatment is a big relief. Many people here share the same feeling.”

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READ ALSO: Seadogs Pyrates Provide Free Medical Services To Benin Residents

Another resident, Mrs Mmesoma Njoku, received medicated glasses after undergoing an eye test.

“I’ve been struggling with my sight for a while, but couldn’t go to the hospital because of money. Today, I not only got tested, but they gave me glasses that now help me read tiny print. I am truly grateful,” she said.

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NAS Medical Pyrate, Dr Chiazor Odoemene, confirmed that over 800 residents were treated during the outreach, with critical cases referred to public hospitals for further management.

Beyond healthcare, the association also launched an arts exhibition aimed at promoting awareness around good governance, security, poverty alleviation, and Nigeria’s path to a more prosperous future.

The medical outreach has been lauded as a meaningful complement to the efforts of the Imo State Government in improving healthcare access and delivery, particularly in underserved areas.

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2027: Otuaro Urges N’Delta Youth To Resist Politicians’ Ploy To Destabilise Region

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Dr. Dennis Otuaro

The Administrator of the Presidential Amnesty Programme, Dr Dennis Otuaro, has warned ex-agitators in the Niger Delta to resist being manipulated by desperate politicians plotting to destabilise peace in the Niger Delta, ahead of the 2027 general elections.

Speaking during the closing ceremony of a three-day strategic Leadership, Alternative Dispute Resolution, and Mediation training organised by the PAP in collaboration with the Nigerian Army Resource Centre, Abuja, Otuaro expressed concern over the recent rise in politically-charged rhetoric and some politicians’ coordinated attempt to pit ex-agitators and beneficiaries of the programme against the Federal Government.

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In a statement signed by his Special Assistant on Media, Mr Igoniko Oduma, on Sunday, he added that such moves were “reckless and unnecessary,” especially in light of President Bola Tinubu’s demonstrable commitment to the region.

READ ALSO:Otuaro Lauds President Yar’Adua For Establishing Presidential Amnesty Programme

There is no basis for anyone to cause destabilisation. We can all see the commitment of His Excellency, President Bola Ahmed Tinubu, GCFR, and the National Security Adviser, Mallam Nuhu Ribadu, to the Presidential Amnesty Programme. Ex-agitators and beneficiaries in general should not be deceived and distracted by some politicians,” Otuaro told the ex-agitators and stakeholders.

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He cautioned that any calls for confrontation or disaffection at this time were “not only misplaced but also harmful to the gains we have recorded,” urging stakeholders to focus on peace, stability, and progress in the region.

According to Otuaro, the Tinubu administration has backed its support with tangible action.

Be assured that nobody will do it better than President Tinubu. As Niger Delta people, we have to thank the President for his genuine love for the Presidential Amnesty Programme and our region as a whole.

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READ ALSO:Group Urges Public To Disregard Reports Of Rift Between Otuaro And King Ateke

“The President has expanded the budget of the programme, allowing us to reach more beneficiaries and strengthen our reintegration and rehabilitation initiatives,” he stated.

He also pointed out that the inclusion of Niger Delta citizens in key federal positions was further evidence of Tinubu’s goodwill.

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Furthermore, Niger Deltans have been appointed to strategic positions in key ministries and agencies. This level of inclusion is unprecedented and deserves acknowledgement. All we need to do is to be united for the President,” Otuaro declared.

The PAP boss, who presented certificates to participants of the training and later hosted them at a reception at the PAP headquarters, reiterated his commitment to sustaining peace and building human capital in the region.

He further called on traditional rulers, community leaders, and other stakeholders to keep sensitising the youth to reject political manipulation, stating that “Lasting progress can only be achieved through cooperation, not conflict.”

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Afenifere Hails UN For Declaring July 7 World Amotekun Day

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The Pan-Yoruba socio-political organisation, Afenifere, on Sunday, commended the United Nations following its declaration of July 7 of every year as “World Amotekun Day.”

Afenifere’s position was contained in a statement released by its national publicity secretary, Jare Ajayi, in Ibadan, the Oyo State capital.

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It would be recalled that Amotekun’s formal recognition by the UN was made public last week by the President of the World Peace, Ambassador Peer Stafsen, while presenting the certificate of affiliation to the Commandant of the Ondo State Amotekun Corps, Adetunji Adeleye, in Akure, the state capital.

Represented by the Director of Information and Communications of the association, Ambassador Markwili Mgbara, Stafsen said the recognition was due to the activities of Amotekun corps in “promoting safety and protecting lives and property across Nigeria’s South-West region.”

The affiliation certificate was issued under the auspices of the United Nations Economic and Social Council and the International Association of World Peace Advocacy.

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READ ALSO:Osun Amotekun Arrest Three Over ₦4.5m Steel Theft, Others For Burglary

Afenifere’s statement said the recognition of Amotekun by the UN was unprecedented in this part of the globe.

“Amotekun’s invitation to attend meetings of the body’s affiliates on security and human rights is a big morale booster.

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“It is also a testament that those who brought it about and have been sustaining it were exemplary, as further attested to by some states in Nigeria who have shown interest in replicating the concept in their respective areas.

“The World Peace is part of the global body, the UN. Ondo State is significant on the issue of Amotekun as its former Governor, late Arakunrin Rotimi Akeredolu (SAN), was pivotal in the establishment of the corps.

READ ALSO: Amotekun Arrests Suspected Drug Kingpin In Ogun

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With this recognition, the South-West Security Network (Amotekun) will now be officially attending the United Nations’ annual general meeting starting with the one coming up in New York, United States of America, on September 22, 2025, which will mark the 80th anniversary of the global body,” the statement partly read.

Afenifere said the certification of the security outfit confirmed the affiliation of the Ondo State Amotekun Corps as a trained security unit recognised by the UN.

Ajayi also lauded the late former Governor Akeredolu, who, along with his fellow governors in the South-West, then were steadfast in ensuring that the security outfit took off and was sustained, in spite of the obstacles placed on its ways in various guises.

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Amotekun was launched on January 9, 2020, in Ibadan, Oyo State, by the governors of the South West, i.e. Ekiti, Lagos, Ogun, Ondo, Osun and Oyo States.

READ ALSO:My Wife Arrested Me With Amotekun ‘For Owing Bank N500,000’ —Husband

The establishment of the security outfit emanated from the regional security summit that took place in Ibadan in June 2019 under the auspices of the Development Agenda for Western Nigeria Commission,” Ajayi stated.

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Afenifere’s spokesperson submitted that the formal invitation to attend annual security meeting is a clear indication that the establishment of the outfit was a very good step to take.

He recalled that Amotekun, in its early formation, faced a lot of avoidable challenges, especially from the Federal Government then led by the late President Muhammadu Buhari.

READ ALSO:Protest In Osun Over Alleged Amotekun’s Arrest, Detention Of Community Chiefs

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Ajayi praised the governors in the region for not succumbing to intimidation then.

In his words, “Their not succumbing to intimidation has helped greatly in checking crimes in the region and in reducing the menace of armed bandits, including unscrupulous Fulani herders who are making going to farms perilous.”

The national publicity secretary then called on the governments of the southwestern states to leverage on the latest international recognition.

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We seize this opportunity to also call for an expeditious action on the establishment of state police and the provision of all that is needed to ensure that crime and banditry are reduced to the barest minimum,” he added.

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