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SERAP Sues Tinubu ‘Over Failure To Probe Missing $3.4 Billion IMF Loan’

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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.”

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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.”

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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.”

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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’.”

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“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.”

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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’.”

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“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.”

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“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’

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“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.’”

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“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.”

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“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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NYSC Deploys 1,900 Corps Members To Bauchi State

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The National Youth Service Corps (NYSC), has deployed 1,900 corps members to Bauchi State for the 2025 Batch ‘B’ Stream II orientation exercise.

Mr Kufre Umoren, NYSC State Coordinator, told journalists on Tuesday in Bauchi, that registration would be conducted from Sept. 24 to Sept. 26, at the NYSC Permanent Orientation Camp, Wailo in Ganjuwa Local Government Area of the state.

He said the swearing-in ceremony of the corps members is billed for Sept. 26, and the orientation exercise would end on Oct. 14.

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READ ALSO:NYSC Pays Arrears After Two-month Break

Umoren said each of the corps members would be allowed into the camp after being adequately certified to be genuine graduates.

He said discreet screening of the corps members would be conducted to guard against intrusion or impersonation.

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Registration dates have been announced to the corps members, and they are advised to adhere strictly to all camp rules and regulations.

READ ALSO:Release Corps Member’s Discharge Certificate, Falana Tells NYSC

Defaulters will be sanctioned in accordance with the scheme’s extant rules,” he said, warning the scheme frowned at late-night journeys and urged corps members to avoid it for their own safety.

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While urging them to be punctual, diligent, and comply with dress code, Umoren warned that defaulting corps members would be sanctioned.

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Ife Not Origin Of Yoruba Race, Says Oluwo

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The Oluwo of Iwo in Osun State, Oba Abdulrosheed Akanbi, has disputed the claim that Ile-Ife is the origin of the Yoruba race.

The royal father said the culture of the race is not in the ancient town of Ife, long noted as the origin of the Yoruba people.

Oluwo, who made this known in a video shared on his Facebook page on Tuesday, spoke in his palace while bestowing a chieftaincy title on one of his subjects.

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Flanked by his Chiefs, Oluwo said Ife was not the origin of the Yoruba race, adding that people were living in the town before Oduduwa conquered the city and became its ruler.

He said the language spoken in ancient Ife was not the same as the common Yoruba language, restating his readiness to bring back the correct historical accounts of the Yoruba race.

READ ALSO:Tension In Osun Council As Ataoja, Oluwo Battle For Seniority

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“Ife is not the origin of the Yoruba race. Those people don’t speak our language. Their language is different. They refer to God as Eledumare, and there is nothing like Eledumare in the Yoruba language. What we have is Olodumare.

“Ife people will always say Olofin, and if you ask them what the meaning is, they will tell you it means the owner of the palace, and what that means in Yoruba is ‘Alaafin’. Ile-Ife has no Yoruba culture.

“I am the ‘Arole Olodumare because I am here to tell you the true history. Iwo is where you can get the real history that was not even documented.

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“Whatever I am telling you now, you must keep it because death can come anytime. I am not scared of death because it is inevitable,” Oluwo said in the Yoruba language.

READ ALSO:OPINION: Oluwo And The Glorification Of Ignorance (1)

The origin of the word ‘Yoruba’ often leads to controversy. The most recent one being the face-off involving the Ooni of Ife, Oba Adeyeye Ogunwusi and Alaafin of Oyo, Oba Akeem Owoade, over a Chieftaincy title of Okanlomo of Yorubaland, allegedly bestowed on Ibadan-based businessman, Chief Dotun Sanusi by Ooni.

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The PUNCH reports in August that the Ooni had bestowed the title on Sanusi during the unveiling of 2geda, an indigenous social media and business networking platform, at Ilaji Hotel, Ibadan.

But in a statement signed by his media aide, Bode Durojaiye, the Alaafin declared that no traditional ruler other than him has the authority to confer a title covering the entire Yorubaland. He issued a 48-hour ultimatum to the Ooni to revoke the title or “face the consequences.”

READ ALSO:Why I’m Yet To Visit Ooni Of Ife — Alaafin Of Oyo

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Reacting to Alaafin’s ultimatum, the Ooni’s spokesperson, Moses Olafare, said the monarch had directed him to ignore the Alaafin’s outburst and leave the matter “in the court of public opinion.”

We can not dignify the ‘undignifyable’ with an official response. We leave the matter to be handled in the public court of opinion, as it is already being treated.

“Let’s rather focus on narratives that unite us rather than the ones capable of dividing us. No press release, please. 48 hours my foot!” he wrote on his Facebook page.
(PUNCH)

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Court Remands Man Who Beat Wife In Viral Video

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A 57-year-old sawmiller, Fatai Quadri, who was seen in a viral video assaulting his wife, 50-year-old Rukayat Quadri, was on Monday remanded at the Correctional Centre at Ijebu Ode till October 17 for further hearing into the suit instituted against him by the police before the Ijebu Ode Magistrate Court.

Quadri, according to documents made available to our correspondent on Tuesday during his arraignment, was charged with a count bordering on assault, domestic violence, and breach of peace, among others.

The charge sheet reads “That you Quadri Fatai Abiodun ‘m on the 15/09/2025 at about 0600hrs at No: 11, Bakare Street, Oke-Owa, Ijebu-Ode, Ogun State in the Ijebu-Ode Magisterial District did wilfully and unlawfully assault Mrs Rukayat Quadri 50yrs your wife, by beating her with a stick and several fist blow all over her body, which caused her bodily injuries and thereby committed an offence punishable under Section 355 of the criminal code, Vol.1, Laws of Ogun State of Nigeria, 2006.

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“That you Quadri Fatai Abiodun “M’ on the same date, time and place in the aforementioned Magisterial District did unlawfully beat Mrs Rukayat Quadri 50yrs your wife and by so doing committed “Domestic Violence” an offence punishable under Section 21(1) of the Violence Against Persons Prohibition Law, Laws of Ogun State of Nigeria, 2017.

“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did unlawfully assault, beat and caused injuries to Mrs Rukayat Quadri 50yrs your wife and thereby committed an offence punishable under section 4(1) of the Violence Against Persons Prohibition Law, Laws of Ogun State of Nigeria, 2017.

READ ALSO:Police Detain Lagos NURTW Leader For Killing Resident

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That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did intentionally intimidated, injured and threatened to the life of Mrs Rukayat Quadri 50yrs your wife not to go on the land you built 10 Rooms and Parlour Self Contains with Other Flats or otherwise and thereby committed an offence Punishable under Section 86 of the Criminal Code Vol. 1, Laws of Ogun State of Nigeria, 2006.

“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did willfully and unlawfully conduct yourself in a manner likely to cause the breach of public peace by using a stick with several fist blows to beat and injured Mrs Rukayat Quadri 50yrs your wife and thereby committed an offence punishable under Section 249(1) (d) of the Criminal Code Vol. 1, Laws of Ogun State of Nigeria, 2006”

Magistrate P O Odunsi has, however, adjourned the matter till October 17 for further hearing into the bail application of the suspect.

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The Ogun State Police Command had on Saturday confirmed arresting Fatai seen in a viral video violently assaulting his wife, Rukayat, at their residence in Illese-Ijebu on the 15th of September, 2025.

Quadri, who was seen inflicting fist blows on the victim, resulting in bodily harm, was said to have been promptly apprehended by operatives of the Igbeba Divisional Police Headquarters, Ijebu Ode.

READ ALSO:Police Detain Lagos NURTW Leader For Killing Resident

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The spokesperson of the state police command, Omolola Odutola, disclosed this in a statement sent to journalists on Saturday.

Odutola said that “Preliminary investigation revealed that the assault stemmed from a marital dispute arising from allegations of infidelity.

“The investigation further indicated that the suspect had transferred ownership of a 10-room en-suite apartment, jointly built with his wife, to another woman, which provoked the violent attack.

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“The victim is presently receiving medical treatment, while the suspect remains in custody and will be charged in court upon conclusion of the investigation”

The Commissioner of Police, Lanre Ogunlowo, however, used the opportunity to reiterate the command’s zero tolerance for domestic violence and warned that anyone found culpable of such an act will face the full wrath of the law.

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Speaking over the incident, the Commissioner for Justice and Attorney General of the state, Oluwasina Ogungbade, SAN described the incident as very reprehensible, saying that the government was unhappy with such criminal acts and that the suspect, who is already in police custody, would be taken to court on Monday.

Ogungbade explained that “the government is aware of the viral video and we condemn it in its totality. The suspect is in police custody already.

“The Commissioner of Police, Lanre Ogunlowo, has been very proactive concerning it.

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“The matter is being transferred to the Gender Unit. He will be arraigned in Court on Monday”

The Attorney General said that the state government has always warned against all sorts of criminal acts, particularly gender-based violence and that this particular incident will be another opportunity to drive home the present administration’s posture of zero tolerance to such condemnable acts.

READ ALSO:Court Remands Tiktoker Who Claimed President Tinubu Died

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The Commissioner for Women Affairs and Social Development, Adijat Adeleye, also said that she had already briefed one of the state officials to follow up on the incident, pledging that the government would ensure justice is served on the matter.

Adeleye said that “The government is not happy with such criminal acts, our position has always been zero tolerance to gender-based violence. Definitely, the suspect will account for his misdeeds, justice will be served, I assure the residents of the state.

“Already he has been picked up by the police and should be taken to court on Monday; the ministry officials will be there to lend our support and ensure that justice is served.”

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