News
SERAP Sues Tinubu ‘Over Failure To Probe Missing $3.4 Billion IMF Loan’
Published
1 year agoon
By
Editor
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu over “the failure to probe the grim allegations that $3.4 billion loan obtained by Nigeria from the International Monetary Fund (IMF) to finance the budget and respond to COVID-19 is missing, diverted or unaccounted for.”
SERAP noted that the allegations are contained in the recently published 2020 Nigeria’s annual audited report by the Auditor-General of the Federation.
In the suit number FHC/ABJ/CS/269/2024 filed last Friday at the Federal High Court, Abuja, SERAP is asking the court “to direct and compel President Tinubu to probe the allegations that $3.4 billion loan obtained by Nigeria from the IMF to finance the budget and respond to COVID-19 is missing, diverted or unaccounted for.”
SERAP is also seeking: “an order of mandamus to direct and compel President Tinubu to ensure the effective prosecution of anyone suspected to be responsible for the alleged mismanagement and diversion of the $3.4 billion IMF loan obtained by Nigeria to finance the budget and respond to the COVID- 19 pandemic.”
SERAP is also seeking: “an order of mandamus to direct and compel President Tinubu to ensure the full recovery of the missing $3.4 billion IMF loan obtained by Nigeria to finance the budget and respond to the COVID- 19 pandemic.”
In the suit, SERAP is arguing that: “Investigating these grave allegations, bringing suspected perpetrators to justice and recovering any missing IMF loan would contribute to addressing the country’s economic crisis and debt burden.”
SERAP is also arguing that, “The findings by the Auditor-General suggest a grave violation of the public trust, the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s obligations under the UN Convention against Corruption.”
READ ALSO: Probe Missing, Unaccounted $3.4bn IMF Loan, SERAP Tells Tinubu
According to SERAP, “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 back both the loan and accrued interests.”
SERAP is arguing that, “Unless the President is directed and compelled to get to the bottom of these damning revelations, suspected perpetrators would continue to enjoy impunity for their crimes and enjoy the fruits of their crimes.”
The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Andrew Nwankwo, read in part: “There is a legitimate public interest in ensuring justice and accountability for these serious allegations. Granting the reliefs sought would end the impunity of perpetrators and ensure justice for victims of corruption.”
“Granting the reliefs sought would facilitate the effective implementation of the recommendations by the Auditor-General in the 2020 annual report that the missing $3.4 billion IMF loan be fully recovered and remitted to the public treasury and those responsible be ‘sanctioned and handed over to anticorruption agencies’.”
“The allegations of corruption in the spending of IMF loan documented by Auditor-General undermine economic development of the country, trap the majority of Nigerians in poverty and deprive them of opportunities.”
“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 respond to the COVID-19 pandemic is missing, diverted or unaccounted for.”
“According to the Auditor-General, no information or document was provided to justify the movement and spending of the Fund.”
READ ALSO: SERAP Drags Wike, Others To Court Over Missing LG Funds
“The Auditor-General has recommended that the money should be fully 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 has also recommended 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 SERAP’s information, Nigeria has signed an agreement to spread the repayment of the IMF loan/interests 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.”
“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.”
“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.”
“The Nigerian 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.”
READ ALSO: SERAP Sues Akpabio, Abbas Over ‘Failure To Clarify Details Of N344.85bn NASS Budget’
“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on the Nigerian government to conform to, observe and apply the provisions of Chapter 2 of the constitution. Section 15(5) imposes the obligations on the government to ‘abolish all corrupt practices and abuse of power’ in the country.”
“Under Section 16(1) of the Constitution, the Nigerian 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 the Nigerian 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 the Nigerian 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 the Nigerian 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.”
Joined in the suit as Respondent is Mr Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice.
No date has been fixed for the hearing of the suit.
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News
SERAP, NGE Drag Niger Gov, NBC To Court Over Radio Station Closure Threat
Published
14 hours agoon
August 10, 2025By
Editor
The Socio-Economic Rights and Accountability Project and the Nigerian Guild of Editors have filed a lawsuit against Niger State Governor, Umar Bago, and the National Broadcasting Commission over what they described as “the ongoing intimidation” of Badeggi FM Radio, Minna, and the threat to shut down the station.
This was contained in a statement on Sunday by SERAP’s Deputy Director, Kolawole Oluwadare, accusing NBC of failing to stand in defence of the local station.
Recall that Bago ordered the closure and the revocation of the licence of Badeggi Radio 90.1 FM in Minna over alleged public incitement.
However, in suit number FHC/L/CS/1587/2025, filed last Friday at the Federal High Court, Lagos, SERAP and NGE are seeking to determine “whether by Section 22 of the Nigerian Constitution 1999 (as amended) and section 2(1)(t) of the NBC Act, the NBC has the legal duty to protect Badeggi FM from the ongoing intimidation from the governor.”
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They are also seeking “an order of perpetual injunction restraining the Niger state governor and NBC from further harassing, intimidating and/or threatening to shut down Badeggi FM radio, revoke its licence and profile the station’s owner.”
The groups argued, “The ongoing intimidation and threat by Mr Bago to strip Badeggi FM station of its licence, further threat to demolish the station’s premises and profile its owner is unlawful and a violation of the rights to freedom of expression, access to information, and media freedom.”
They described allegations of inciting violence against the station and its owner as “vague, unfounded and unsubstantiated and apparently made to silence the radio station.”
The suit, filed on behalf of SERAP and NGE by lawyers Kolawole Oluwadare, Oluwakemi Agunbiade, and Andrew Nwankwo, read in part, “The media plays an essential role as a vehicle or instrument for the exercise of freedom of expression and information – in its individual and collective aspects – in a democratic society.
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“Intimidating, harassing and silencing critical or dissenting voices under the guise of vague and unsubstantiated national security concerns is a fundamental breach of the Nigerian Constitution and Nigeria’s international human rights obligations.
“The ongoing intimidation and harassment of Badeggi FM and its owner is capable of discouraging participation of the press in debates over matters of legitimate public concern ahead of the 2027 general elections.”
SERAP and NGE are therefore asking the court for the following reliefs, “A declaration that by the combined provisions of Section 22 Nigerian Constitution and section 2(1)(t) of the National Broadcasting Act, the NBC is obligated by law to protect Badeggi FM station and other broadcasting outlets in Nigeria from undue interference from unauthorised persons or entity.
“A declaration that the failure and/or neglect of the NBC to protect and defend the independence of the radio station against arbitrary executive interference constitutes a breach of its statutory duty to ensure fair, independent, and lawful broadcasting practices in Nigeria.
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“A declaration that the ongoing intimidation and threat issued by Mr Bago to strip Badeggi FM station of its operational licence and further threat to demolish the station’s premises is unlawful and a violation of the rights to freedom of expression, access to information, and media freedom.
“A declaration that the threat issued by the Bago to strip Badeggi FM radio station of its operational licence encroaches upon the statutory powers of the NBC as provided for under section 2 of the National Broadcasting Commission Act.
“An order of perpetual injunction restraining the governor and NBC, its agents and privies from harassing, intimidating and/or threatening to revoke the operating licence of Badeggi FM station or any other broadcasting outlet in Niger State.”
It was said that no date has been fixed for the hearing of the suit.
News
Radio Station Suspends GM For Criticising Ebonyi Gov
Published
15 hours agoon
August 10, 2025By
Editor
A privately-owned radio station in Ebonyi State, Legacy FM (The Sound of Now), has suspended its acting General Manager, Mr Godfrey Chikwere.
His suspension, it was gathered, followed his alleged persistent “negative” projection of Ebonyi State Governor, Francis Nwifuru, and his policies during radio broadcasts and on social media.
Announcing his suspension on Saturday, the management of Legacy FM claimed the ousted official acted in a manner contrary to the station’s code of conduct.
It said, “The management of Legacy FM 95.1, The Sound of Now, hereby suspends the acting General Manager, Godfrey Chikwere, with immediate effect, till further notice.
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“This is due to unruly behaviour and disobedience to the code of conduct guiding the Legacy FM.
“With such effect, he is hereby directed to hand over all the company property in his position to the next senior officer.”
The PUNCH gathered that the radio personality, in a post on his Facebook page on Friday, called on the governor to be stringent in his handling of state matters.
He alleged that public perception of the governor’s administration was being cajoled, while also claiming Nwifuru’s administration was marred by poor communication, underperformance by his appointees, and lack of clear-cut policy direction.
Chikwere also advised the governor to “step on toes” to achieve results, adding that the current state of affairs weakened his support base.
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Reacting, the Chief Press Secretary to the Governor, Monday Uzor, criticised the suspended radio staff member over what he described as undue criticisms of his boss’ administration.
In a statement on Friday, Uzor described the criticisms as baseless and unfounded, accusing the former of ingratitude for attacking the governor despite what the state government had done for them.
He said, “It is regrettable that despite the radio station thriving only on government support, the supposed helmsman dedicates a greater percentage of the station’s airtime to attack and run down the government whose support has kept his medium afloat.
“For the avoidance of doubt, the governor gifted the medium a brand new Changan SUV, donated a brand new transformer that powers the station, constructed the road leading to the broadcasting house.
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“But rather than give at least balanced coverage of government activities, it has been turned into a slaughter house of the governor’s genuine development efforts and goodwill, what a way to be ungrateful to good deeds.”
On his part, the state Commissioner for Information in Ebonyi State, Ikeuwa Omebeh, also condemned Chikwere’s criticisms of Nwifuru, describing them as “derogatory and inciting.”
In a statement on Saturday, the commissioner accused him of “overstepping his bounds.”
He said his remarks against the governor were unacceptable and an affront to the collective identity of all the people of the state.
News
Lagos Orders Mandatory Inspection Of All E-hailing Vehicles
Published
15 hours agoon
August 10, 2025By
Editor
The Lagos State Government has ordered a comprehensive inspection of all vehicles operated by licensed e-hailing platforms in the state, citing safety risks and poor service delivery.
In a statement on Sunday titled “LASG to Roll Out Inspection Schedule for E-Hailing Operators”, the state Commissioner for Transportation, Oluwaseun Osiyemi, said the move is aimed at improving safety, service quality, and regulatory compliance across the sector.
He added that the ministry had observed “the deplorable condition of some vehicles operated by drivers under licensed e-hailing platforms within the state, necessitating a comprehensive audit of all vehicles in use,” warning that “any vehicle found unsuitable will not be allowed to operate on Lagos roads.”
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Osiyemi also raised concerns over inadequate databases among some operators, saying this hindered the tracking of crimes committed through their services.
Permanent Secretary of the ministry, Olawale Musa, said the use of vehicles not registered with the state “will no longer be tolerated,” stressing that such practices “pose significant security risks.”
He added that all drivers must be certified by the Lagos State Drivers’ Institute and urged residents to avoid offline bookings to maintain safety and accountability.
The meeting at the Ministry of Transportation, Alausa, Ikeja, was attended by representatives from Uber, Bolt, Lagride, Laurie, Vas Acquico, InDrive, Folti Tech, and EDryv, who presented updates on safety upgrades, including panic buttons and enhanced driver verification systems.
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