News

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

Published

1 year ago

March 3, 2024

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.”

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.”

“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.”

“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.

News

Anambra Guber: ‘I’m On Sabbatical,’ Don’t Use My Name In Your Campaign, Ngige Tells APC

Published

5 hours ago

August 12, 2025

Editor

Former Anambra State governor and two-time minister, Senator Chris Ngige, has asked the All Progressives Congress (APC) governorship candidate, Prince Nicholas Ukachukwu, and his running mate, Senator Uche Ekwunife, not to link him to their campaign, saying he is currently on sabbatical from partisan politics.

A campaign poster featuring Ngige alongside the APC candidates has been circulating on social media, creating the impression that he is backing the party in the November 8 governorship election.

In a statement signed by his media aide, Hyggi Obialo, Ngige clarified that his consent was neither sought nor obtained before the publication was released.

“Senator Chris Ngige is on sabbatical from active partisan politics as he takes a well-deserved rest after 25 years in politics and public service,” the statement read. “We advise those behind the poster to respect his wishes, as he has repeatedly stated in public that he is out of partisan politics for now.”

Ngige served as governor of Anambra State from 2003 to 2006, represented Anambra Central in the Senate from 2011 to 2015, and was Minister of Labour and Employment from 2015 to 2023.

News

8,246 mentally ill inmates in custody nationwide – NCoS

Published

5 hours ago

August 12, 2025

Editor

The Nigerian Correctional Service(NCoS) says no fewer than 8,246 inmates are currently suffering from mental illness across the custodial centres nationwide.

The Assistant Controller General of Corrections (ACG), in charge of Medical Services, Dr Glory Essien, disclosed the figure during a public hearing on Tuesday in Abuja.

The News Agency of Nigeria (NAN) reports that the Independent Investigative Panel on Alleged Corruption, Abuse of Power, Torture, and Other Inhumane Treatment by the NCoS began the third public hearing on Monday.

Essien, however, highlighted the harsh reality of incarceration and its impact on mental health during her address to the panel.

“We have 8,246 inmates with mental health conditions in our custodial centres.

“From the moment someone is brought in, those who have seen a custodial centre know what I mean.

“The police escort them to the gate, and it’s opened, they’re admitted, and then that gate is locked behind them.

“That instant loss of freedom can trigger something. Some begin to show signs of disturbed behaviour almost immediately, as if something in their mind has shifted,”she said.

Essien explained that the prison system relied on an internal network of trained inmate-leaders who assisted staff in identifying those showing signs of psychological distress.

According to her, these leaders are trained to alert the staff when they notice concerning behaviour.

“They might say, ‘This inmate seems dazed, hasn’t eaten, hasn’t spoken to anyone.’ That helps us intervene early,” she said.

Essien said in spite of these efforts, the scale of mental health issues far exceeded the available resources.

She said: “If you’re in a facility housing 500 to 1,000 inmates, and you’re the only attending doctor, nurse, or psychologist, it’s simply not possible to monitor everyone individually.

“That’s why we rely on these trained inmates to help us identify those in need, so we can provide care as best we can,” she said.

She, however, underscored the logistical challenges of delivering mental healthcare in correctional facilities.

“Mental illness is chronic. It’s not like malaria, where a single dose clears up the issue, highlighting transportation issues, limited drug supplies, and staff shortages as ongoing obstacles.

“We’re not operating in a five-star environment.But with the little we have, we are committed to upholding the highest standards of our work,” she maintained.

Similarly, the Assistant Controller General of Corrections in charge of pharmaceutical services, Mohammed Bashir, addressed concerns around drug provision and mental health treatment.

He said that the Federal Government had actually been doing its utmost to ensure that it catered to the health needs of the inmates.

“Money has been appropriated, but is the money enough? No.

“Out of 81,122 inmates in 256 correctional facilities nationwide, about 2.3 per cent are female,” he said.

Bashir revealed that a single item, such as sanitary pads for menstruating inmates, costs over “four million naira monthly.

On mental healthcare, Bashir confirmed that a psychological services unit had been created within the service to focus on treatment.

“We have partnership with this psychiatric and psychological association. We have the consultants who usually go to about 12 designated custodial centres that have a large number of these cases,” he said.

He, however, admitted that drug supplies often ran out within weeks due to inadequate funding and staffing.

In her remarks, the Permanent Secretary(PS) in the Ministry of Interior, Dr Magdalene Ajani, called for urgent support and systemic changes.

Ajani made a passionate appeal to the Nigerian Medical Association and pharmaceutical companies for support.

“Please come to Macedonia and help us. We are in dire need of psychiatric and psychological aid in remote states beyond Abuja and Lagos.”

Ajani, who chairs the panel, expressed concern over the maldistribution of mental health professionals.

“Let them not only be centered in Abuja and Lagos. We need them to go out to the fields. Because if we even put two in the states, it will help them,” she added.

The PS emphasized the importance of transparency and collaboration with private companies, noting that public-private partnerships would be beneficial.

According to her, we can approach companies that can give us drugs as CSR; they do it.

“So, don’t let us sit in the office and forget our primary responsibility.

“Do it now. Build a bridge and empower younger people to be able to sustain that bridge that you are building,” she emphasised.

News

Tinubu Appoints New NCC Chairman, Fresh Board Members

Published

5 hours ago

August 12, 2025

Editor

President Tinubu has approved the appointment of Idris Olorunnimbe as Chairman of the Nigerian Communications Commission, NCC.

The Executive Vice Chairman of the Commission, Dr Aminu Waida, will continue to serve in that capacity.

President Tinubu also approved the appointments of the members of the board of the NCC.

The members include Abraham Oshidami, Executive Commissioner, Technical Services; Rimini Makama, Executive Commissioner, Stakeholder Management; Hajia Maryam Bayi, Former Director, Human Capital and Administration; Col Abdulwahab Lawal (retd); Senator Lekan Mustafa; Chris Okorie, and Princess Oforitsenere Emiko.