News

SERAP sues Wike, 36 govs over N5.9tn, $4.6bn loans

Published

2 years ago

May 5, 2024

SERAP sues Wike, 36 govs over N5.9tn, $4.6bn loans

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against Nigeria’s governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike “over their failure to account for N5.9 trillion and $4.6 billion loans obtained by their states and the FCT, and to publish copies of the loan agreements, including details and locations of projects executed with the loans.”

The suit followed the disclosure last month by Governor Uba Sani of Kaduna State that the immediate past administration of Nasir El-Rufai left $587m, N85bn debt and 115 contractual liabilities, making it impossible for the state to pay salaries.

In the suit number FHC/ABJ/CS/592/2024 filed last Friday at the Federal High Court, Abuja, SERAP is asking the court to “direct and compel the governors and Mr Wike to account for N5.9trn and $4.6bn loans obtained by their states and the FCT and to publish copies of the loan agreements, location of projects executed with the loans.”

SERAP is also asking the court to “direct and compel the governors and Mr Wike to invite the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the spending of all the loans obtained to date by their states and the FCT.”

In the suit, SERAP is arguing that “It is in the public interest to grant the reliefs sought. Nigerians have the right to see and scrutinise the loan agreements and know the details of how the domestic and external loans obtained by the governors and FCT minister are spent.”

According to SERAP, “Opacity in the spending of the loans obtained by the governors and Mr Wike would continue to have negative impacts on the fundamental interests of the citizens.”

SERAP is also arguing that, “Many states and the FCT are reportedly spending public funds which may include the loans obtained by them to fund unnecessary travels, buy exotic and bulletproof cars and generally fund the lavish lifestyles of politicians.”

READ ALSO:

SERAP is also arguing that, “Many states and the FCT are also allegedly mismanaging public funds which may include domestic and external loans obtained from bilateral and multilateral institutions and agencies.”

According to SERAP, “Many states and the FCT reportedly owe civil servants’ salaries and pensions. Several states are borrowing to pay salaries. Millions of Nigerians resident in the state and FCT continue to be denied access to basic public goods and services such as quality education and healthcare.”

According to SERAP, “Transparency in the spending of the loans obtained by the states and FCT is fundamental to increase accountability, prevent corruption, and build trust in democratic institutions with the ultimate aim of strengthening the rule of law.”

The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare, Kehinde Oyewumi and Ms Valentina Adegoke, read in part: “States and the FCT should be guided by transparency and accountability principles and proactively account for the loans obtained and publish copies of the loan agreements.”

“Widely publishing copies of the loan agreements and spending details of the loans obtained would ensure that persons with public responsibilities are answerable to the people for the performance of their duties in the management of public funds.”

“State governors and Mr Wike cannot hide under the excuse that the Freedom of Information Act is not applicable to their states and the FCT. The legal obligations to publish the information sought are also imposed by the provisions of the Nigerian Constitution and the African Charter on Human and Peoples’ Rights.”

“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s 36 states and the Federal Capital Territory is N5.9 trillion. The total public external debt portfolio is $4.6 billion.”

“The domestic and external loans obtained by the states and the FCT are vulnerable to corruption and mismanagement. The states and FCT have a responsibility to ensure transparency and accountability in how any loans obtained by the states and FCT are spent, to reduce vulnerability to corruption and mismanagement.”

“Directing and compelling the states and FCT to publish copies of the loan agreements would allow Nigerians to scrutinise them, and promote transparency and accountability on the spending of public funds including the loans obtained.”

READ ALSO:

“Providing and widely publishing the details of the spending of the domestic and external loans obtained by the states and FCT would enable Nigerians to effectively and meaningfully engage in the management of the loans.”

“The constitutional principle of democracy also provides a foundation for Nigerians’ right to know the details of loan agreements and how the loans obtained are spent. Citizens’ right to know promotes openness, transparency, and accountability that is in turn crucial for the country’s democratic order.”

“The effective operation of representative democracy depends on the people being able to scrutinize, discuss and contribute to government decision making, including on the spending of loans obtained by the states and FCT.”

“To do this, they need information to enable them to participate more effectively in the management of public funds by their state governments and the FCT.”

“The public interest in obtaining information about expenditures relating to the loans obtained by the states and FCT outweighs any privacy or other interest.”

“The oversight afforded by public access to such details would serve as an important check on the activities of the states and FCT and help to prevent abuses of the public trust.”

“There is a significant risk of mismanagement or diversion of funds linked to loans obtained by state governments and the FCT. The accounts of Nigeria’s 36 states and the FCT are generally not open to public scrutiny.”

“The Nigerian Constitution, human rights and anticorruption treaties to which Nigeria is a state party also impose obligations on the states and FCT to prevent mismanagement or diversion of public funds including the loans obtained.”

“Many years of allegations of corruption and mismanagement of public funds including the loans obtained by the states and FCT have contributed to widespread poverty, underdevelopment and lack of access to public goods and services.”

No date has been fixed for the hearing of the suit filed by SERAP.

SERAP sues Wike, 36 govs over N5.9tn, $4.6bn loans

News

Nigeria-UK Relations in Focus as Tinubu Begins Landmark State Visit

Published

2 minutes ago

March 17, 2026

Trends Admin

King Charles III and President Bola Tinubu

Nigeria-UK Relations in Focus as Tinubu Begins Landmark State Visit

President Bola Tinubu is embarking on a historic state visit to the United Kingdom, following an invitation from the British government and King Charles III feature high-level engagements between Nigerian and British leaders, including meetings with Prime Minister Keir Starmer and other key stakeholders.

One of the main objectives of the trip is to deepen diplomatic relations between Nigeria and the UK. Discussions are expected to focus on governance, policy alignment, and joint international initiatives. Observers note that this visit presents an opportunity to consolidate Nigeria’s position on the global stage and enhance strategic partnerships.

Trade and investment are also top priorities. Nigeria aims to position itself as an attractive destination for foreign investors, with planned discussions on opportunities in energy, infrastructure, technology, and other key sectors. Business leaders and economic analysts anticipate agreements that could expand economic collaboration and create new investment channels.

READ ALSO:

Security cooperation forms a critical part of the agenda. Both countries are expected to explore frameworks for intelligence sharing, counter-terrorism operations, and capacity building, strengthening Nigeria’s efforts to tackle transnational threats and insurgency challenges.

The visit also emphasizes engagement with the Nigerian diaspora, acknowledging their contributions through remittances, expertise, and advocacy for national development. In addition, cultural and educational exchanges are expected to be highlighted to foster people-to-people connections between the two nations.

This visit is particularly significant as it is the first official state visit by a Nigerian president to the UK in 37 years, underscoring the importance of Nigeria-UK relations in diplomacy, trade, and security. Analysts and civil society groups have welcomed the visit, urging for enhanced economic cooperation and strategic agreements that benefit both countries.

The presidency describes the state visit as a renewed momentum in Nigeria-UK engagement, signaling a proactive approach to international relations and investment promotion. The outcomes are expected to strengthen ties, boost Nigeria’s economic profile, and reinforce global partnerships in security and diplomacy.

Nigeria-UK Relations in Focus as Tinubu Begins Landmark State Visit

News

Maiduguri Bombings: Shocking Trump–Tinubu Claim Goes Viral — Fact or Fabrication?

Published

13 minutes ago

March 17, 2026

Trends Admin

President Bola Ahmed Tinubu and United States President Donald Trump

Maiduguri Bombings: Shocking Trump–Tinubu Claim Goes Viral — Fact or Fabrication?

A viral social media claim alleging that Donald Trump criticised Bola Tinubu over the recent Maiduguri bombings and his planned UK state visit has been debunked as false and misleading.

The claim, widely circulated on X (formerly Twitter), featured a screenshot purportedly showing a March 17, 2026 post from Trump on Truth Social. In the alleged post, the U.S. president was said to have condemned deadly attacks in Maiduguri and accused Tinubu of abandoning leadership responsibilities by proceeding with a scheduled visit to the United Kingdom.

The viral post further claimed Trump urged Tinubu to immediately return to Nigeria and called on Keir Starmer to pressure the Nigerian leader to act.

However, investigations show that this claim is false.

While the Maiduguri bombings did occur on March 16, 2026—leaving at least 23 people dead and over 100 injured after explosions hit areas including a hospital, a market, and a post office—there is no evidence linking any statement on the incident to Trump.

READ ALSO:

Security analysts note that the nature of the attack is consistent with previous operations by extremist groups such as Boko Haram and Islamic State West Africa Province, both of which have carried out similar coordinated assaults in Borno State.

At the same time, President Tinubu’s UK state visit, scheduled for March 18–19, 2026 and hosted by King Charles III, remains officially listed, with no confirmed cancellation tied to the attacks.

A thorough review of Trump’s verified Truth Social account shows no post matching the viral screenshot, either on March 17 or in surrounding days. His recent activity instead focuses on unrelated domestic and international issues.

Additionally, no credible Nigerian or international news organisation has reported such a statement, and no verified Trump-affiliated accounts have referenced it.

Experts say the screenshot bears hallmarks of fabricated content, including imitation of Trump’s rhetorical style without verifiable origin. Such misinformation often emerges during crises to amplify public anger, influence political narratives, or mislead audiences.

Conclusion

The Maiduguri attacks and Tinubu’s UK visit are real events. However, the claim that Donald Trump publicly criticised Tinubu over the situation is entirely false.

The viral screenshot is fabricated misinformation designed to exploit public sentiment during a national tragedy.

Maiduguri Bombings: Shocking Trump–Tinubu Claim Goes Viral — Fact or Fabrication?

News

Tinubu Swears in Taiwo Oyedele as Minister of State for Finance

Published

17 hours ago

March 16, 2026

Trends Admin

Mr. Taiwo Oyedele as the new Minister of State for Finance

Mr. Taiwo Oyedele, The new Minister of State for Finance

Tinubu Swears in Taiwo Oyedele as Minister of State for Finance

President Bola Tinubu has formally sworn in Mr. Taiwo Oyedele as the new Minister of State for Finance, a move expected to bolster the federal government’s fiscal reform and economic governance efforts. The brief ceremony, held at the State House, Abuja, followed Oyedele’s confirmation by the Senate and officially welcomed him into the Federal Executive Council (FEC).

Oyedele replaces Dr. Doris Uzoka‑Anite, who was redeployed to the Ministry of Budget and National Planning, marking her third portfolio in the current administration. The appointment is seen as part of President Tinubu’s broader strategy to reinforce the government’s economic team and accelerate the implementation of tax and revenue reforms.

A seasoned economist, accountant, and public policy expert, Oyedele previously served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he spearheaded proposals to simplify Nigeria’s tax system, increase compliance, broaden the tax base, and improve government revenue collection. The committee also explored reforms for public revenue management and extractive sector taxation, aiming to strengthen transparency and accountability.

READ ALSO:

At 50, Oyedele brings decades of experience in finance, taxation, and economic policy. He hails from Ikaram in the Akoko area of Ondo State and holds a Higher National Diploma in accountancy and finance from Yaba College of Technology, a BSc in applied accounting from Oxford Brookes University, and executive training at institutions including the London School of Economics, Yale University, and Harvard Kennedy School.

During the swearing-in, President Tinubu emphasised the importance of sound fiscal management, economic discipline, and efficient revenue mobilisation to drive Nigeria’s economic growth and development. Analysts note that Oyedele’s elevation from policy design to ministerial implementation signals a shift toward executing critical fiscal reforms and tackling challenges such as inflation, revenue volatility, and budget shortfalls.

As Minister of State for Finance, Oyedele will work closely with the Finance Minister to oversee budget implementation, revenue generation, and fiscal policy coordination, helping Nigeria achieve greater economic stability. Observers also highlight the political significance of the appointment, which strengthens the administration’s economic team ahead of the 2027 general elections.