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Probe Missing, Unaccounted $3.4bn IMF Loan, SERAP Tells Tinubu
Published
1 year agoon
By
Editor
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.
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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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.”
“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.”
“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.”
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“According to the Auditor-General, no information or document was provided to justify the movement and spending of Fund.”
“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.”
“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.”
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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.”
“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.”
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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.”
“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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The Nigerian Medical Association has issued a 21-day ultimatum to the Federal Government to meet its demands to avert industrial action in the health sector.
The association, in a press conference in Abuja on Wednesday, expressed disappointment and condemned the circular on the consequential adjustment of allowances under the Consolidated Medical Salary Structure for medical and dental practitioners in Nigeria.
A copy of the speech of the NMA President, Prof Bala Audu, made available to our correspondent, noted that the association rejected the National Salaries, Incomes and Wages Commission’s circular (SWC/5/04/5.218/III/646), dated June 27, 2025, on the review of allowances for medical and dental officers in the Federal Public Service.
Prof Audu said the circular from the NSIWC violated previous Collective Bargaining Agreements with the government, adding that the recent development had worsened already existing tension among doctors who had remained committed to serving in Nigeria despite ongoing challenges.
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“The Nigerian Medical Association expresses grave disappointment and unequivocally condemns the circular purportedly issued to address the consequential adjustment of allowances under the Consolidated Medical Salary Structure for medical and dental practitioners in Nigeria.
“The circular is grossly inadequate, misleading and constitutes a flagrant violation of the spirit and letter of the agreements painstakingly reached during the collective bargaining process between the NMA and the Federal Government of Nigeria.
“We want to bring this to the attention of Mr President, His Excellency President Bola Ahmed Tinubu (GCFR), the National Assembly and the general public whom we are under oath to always protect and promote their well-being.
“We reject this new circular in its entirety and demand a new circular that reflects previous agreements reached,” Audu said.
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He stressed that the principles of fairness and justice must guide the adjustment of allowances as previously agreed.
He further noted that while the association had submitted the correct salary structure table as requested by the relevant government bodies, it was disappointed to find it was disregarded.
“Our demands include but are not limited to the immediate withdrawal of the circular on review of allowances for medical/dental officers in the federal public service dated 27th June 2025; immediate correction of consequential adjustments in line with the agreements of 2001, 2009, and 2014 CBAs; immediate correction of the relativity agreed between CONMESS and Consolidated Health Salary Structure and compliance with relativity in all professional allowances in accordance with the 2001 CBA, particularly regarding call duty allowances, and the payment of all accrued backlogs.
“The immediate settlement of all outstanding arrears of 25/35 per cent CONMESS, clinical duty and accoutrement allowances owed to medical and dental practitioners; the immediate payment of Medical Residency Training Fund for 2025, and review of the MRTF to reflect prevailing economic realities; the immediate convocation of the long-overdue Collective Bargaining Agreement negotiations on CONMESS; the immediate release of the circular on clinical duty and other allowances for honorary consultants as agreed in January 2024.”
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The association also demanded the implementation of scarce skills allowances for medical consultants; approval of specialist allowances for all doctors; approval of excess workload allowances for all doctors; and adoption of relativity in all professional allowances in accordance with the 2001 CBA, particularly regarding call duty allowances; compliance with CBA of 2021 on hazard allowances; implementation of subsisting CONMESS circular of 2024 for house officers; and universal application of the CONMESS across all federal and state Ministries, Departments, and Agencies to combat internal brain drain.
The doctors also demanded the immediate reversal of the appointment of other healthcare professionals as consultants in hospitals, citing patient safety and the need to maintain medical care standards.
The NMA President stressed that the association had consistently engaged in dialogue with relevant government agencies and the Federal Ministry of Health in good faith, and remained committed to continued dialogue as long as their rightful entitlements were appropriately addressed.
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“As a responsible and responsive association that understands and respects values, we have painstakingly and repeatedly engaged in dialogue with the relevant agencies of government and the Federal Ministry of Health.
“We have exhibited so much goodwill and intend to continue the same as long as we get our appropriate and timely dues.
“We hereby expect that attention will be given to our demands within the next 21 days to avert disruption in the health services rendered to the Nigerian people,” he concluded.
News
Lagos Suspends BRT Lane Enforcement On Eko Bridge, Odo Iya-Alaro
Published
15 hours agoon
July 2, 2025By
Editor
The Lagos State Government has temporarily suspended enforcement of the Bus Rapid Transit lane along the Eko Bridge and Odo Iya-Alaro corridor to ease growing traffic congestion.
This gridlock is a result of the ongoing structural rehabilitation on the Ogudu-Ifako Bridge expansion joint.
Special Adviser to the Lagos Governor on Transportation, Sola Giwa announced the suspension on Wednesday, describing it as a strategic move to tackle gridlock in affected parts of the city.
“This remedial measure, conceived as a palliative response to mitigate commuter hardship, aligns with the Lagos State Government’s forward-thinking and adaptive transportation strategy under the THEMES Plus Agenda of Governor Babajide Sanwo-Olu, particularly within the framework of sustainable traffic management and infrastructure modernisation,” Giwa said.
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He explained that the temporary suspension is a transitional and conditional measure aimed at absorbing the anticipated vehicular overflow caused by the partial closure of the Ifako-bound carriageway of the Third Mainland corridor.
“We are fully cognizant of the immense strain currently imposed on key ingress routes into the Lagos Mainland. Consequently, this tactical suspension of BRT lane enforcement is a calculated response designed to deliver immediate relief, reduce commuting time, and preserve the fluidity of vehicular movement throughout the duration of the bridge repairs,” he added.
According to him, the directive takes immediate effect and allows general vehicular access to previously restricted BRT corridors on Eko Bridge and Odo Iya-Alaro, particularly during peak travel periods.
He said this move is expected to expand available road capacity and ease traffic along critical routes.
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Giwa, however, stressed that commercial buses and articulated vehicles must remain in compliance with existing safety rules and loading guidelines to avoid worsening traffic conditions or compromising public safety.
He also disclosed that the Lagos State Traffic Management Authority has been mobilised to strengthen its presence along the affected corridors.
“Enhanced personnel deployment and traffic equipment are now in place to ensure orderly conduct, prevent exploitation of the temporary suspension, and respond promptly to any emergent traffic disturbances,” Giwa stated.
News
Lagos Opens Teacher Recruitment Portal For Two Weeks
Published
16 hours agoon
July 2, 2025By
Editor
The Lagos State Government has announced the reactivation of its teaching job recruitment portal to allow qualified individuals to apply for entry-level teaching positions.
In a notice issued by the Lagos State Teaching Service Commission on Tuesday, the portal will be open for applications from Tuesday, July 1 to Monday, July 14, 2025.
“The Lagos State Teaching Service Commission is set to reactivate its Recruitment Portal as a bold step towards improving access to employment opportunities, equity, and fairness.
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“The job portal, which will be accessible for two weeks (Tuesday, July 1st 2025, to Monday, July 14th, 2025), is intended to provide a centralised platform where individuals can apply for State Teaching jobs at the entry level (GL 08) in their relevant fields,” the notice read.
The move, according to the Commission, is aimed at improving access to employment opportunities in the education sector while ensuring equity and fairness.
TESCOM urged interested applicants with a degree in Education or other relevant qualifications to visit the official portal https://tescomjobs.lagosstate.gov.ng and apply for teaching roles at Grade Level 08.
The notice was signed by the Chairman of the Lagos State Teaching Service Commission.
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