CBN gets SERAP seven-day ultimatum to account for missing N100bn dirty notes - Newstrends
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CBN gets SERAP seven-day ultimatum to account for missing N100bn dirty notes

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CBN gets SERAP seven-day ultimatum to account for missing N100bn dirty notes

Socio-Economic Rights and Accountability Project (SERAP) has slammed the Central Bank of Nigeria (CBN) with a seven-day ultimatum to explain the whereabouts of over N100 billion ‘dirty naira notes’ and ‘other large sum of cash awaiting examination’ kept in various branches of the apex.

SERAP gave the notice in a statement issued by its deputy director, Kolawole Oluwadare, saying the allegations were documented in the latest annual report recently published by the Auditor-General of the Federation.

SERAP also urged the Governor of the CBN Olayemi Cardoso, to “explain the whereabouts of the N7.2 billion budgeted for the construction of the CBN Dutse branch in 2010 and the N4.8 billion budgeted for the renovation of the CBN Abeokuta branch in 2009.

It asked the CBN governor to publish the names of the contractors that collected the money but failed to complete the projects.

SERAP urged him “to explain the whereabouts of the allegedly missing outstanding loan of N1.2 billion granted to the Enugu state government in 2015 and the outstanding loan of N1.9 billion granted to the Anambra state government between 2015 and 2016 and to fully recover and remit the public funds to the treasury.”

In the letter dated 29 June 29, 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “These grim allegations by the Auditor-General suggest grave violations of the public trust, the provisions of the Nigerian Constitution, the CBN Act, and national and international anticorruption obligations.”

SERAP said, “These grave violations also reflect a failure of CBN accountability more generally and are directly linked to the institution’s persistent failure to comply with its Act and to uphold the principles of transparency and accountability.”

According to SERAP, “These grave violations have seriously undermined the ability of the CBN to effectively discharge its statutory functions and the public trust and confidence in the bank. The CBN ought to be committed to transparency and accountability in its operations.”

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 take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest.”

“Explaining the whereabouts of the missing public funds, publishing the names of those suspected to be responsible and ensuring that they are brought to justice and the full recovery of any missing public funds would serve the public interest and end the impunity of perpetrators.”

“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Central Bank of Nigeria (CBN) has since 2017 been keeping over N100 billion [N100,672,999,000.00] ‘dirty and bad notes’, and other large sum of cash awaiting examination in various branches of the CBN.”

“The Auditor-General fears that the ‘dirty and bad notes’ initially planned to be destroyed may have been ‘be diverted and re-injected into the economy.’”

SERAP stated, “The CBN in August 2010 also reportedly budgeted N7.2 billion [N7,286,500,476.76] for the construction of Dutse branch building. The Dutse branch was due to be completed in November 2012 but the contractors have failed to complete the project.

“The Auditor-General is concerned that the project may have been ‘awarded to incompetent contractor,’ and wants the ‘job completed without further delay.’

“The CBN in 2009 reportedly budgeted N4.8 billion [N4,812,608,028.10] for the renovation of the CBN Abeokuta branch. The Abeokuta branch was due to be completed in 2012 but the contractors have failed to complete the project.

“There is no significant renovation work on the site, several years after the proposed completion date.

“The Auditor-General is concerned that the project may have been ‘awarded to incompetent contractor,’ and wants the ‘job completed without further delay.’”

According to the body, Nigerians have the right to know the whereabouts of the public funds.

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Jetour Nigeria Unveils RELY R8, Rugged Luxury Pickup Built to Dominate Work, Adventure

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Jetour Nigeria Unveils RELY R8, Rugged Luxury Pickup Built to Dominate Work, Adventure

 

Jetour Nigeria has unveiled the RELY R8, a premium pickup truck designed to combine rugged performance with luxury, advanced technology and exceptional versatility, setting a new benchmark for work and recreational vehicles in Nigeria.

Engineered to thrive in the country’s demanding terrain, the RELY R8 is built for agriculture, construction, logistics, security escort operations and weekend adventures, offering the toughness of a workhorse without sacrificing the comfort and refinement of a modern SUV.

The pickup boasts high ground clearance, impressive approach and departure angles, and a reinforced chassis designed to withstand harsh road conditions while delivering excellent stability, even in strong crosswinds.

Its all-terrain capability is enhanced by multiple driving modes, allowing drivers to switch effortlessly between mud, sand and paved roads. Whether tackling heavy-duty tasks or venturing off the beaten path, the RELY R8 is built to perform with confidence.

Inside, the vehicle departs from the traditional utilitarian pickup design, featuring a spacious SUV-inspired cabin that comfortably accommodates five adults while offering a premium driving experience.

Speaking on the new model, Jetour Nigeria representative, Kemi Adeola, described the RELY R8 as a perfect blend of strength, innovation and comfort.

“The RELY R8 delivers strength, reliability and advanced technology in one vehicle. It offers the capability of a modern workhorse without compromising on premium comfort or safety,” she said.

The pickup is equipped with a high-performance processor that powers its L2+ intelligent driving assistance system. It also features a 12.3-inch HD touchscreen infotainment system with Apple CarPlay, Android Auto and remote engine start for enhanced convenience.

Safety is another major highlight of the RELY R8, with features including Intelligent Cruise Control, Lane Keeping Assist and Autonomous Emergency Braking, all designed to provide greater confidence and protection on every journey.

Jetour Nigeria has continued to strengthen its presence in the country’s automotive market, earning recognition as the Fastest Growing Auto Brand in Nigeria, while its Jetour Dashing SUV won the prestigious Car of the Year award. The company has served as the sole authorised distributor of Jetour vehicles in Nigeria since 2022.

The RELY R8 is backed by comprehensive manufacturer support, genuine spare parts and professional after-sales service through Jetour Nigeria’s network of authorised dealers, including Elizade Nigeria Limited, New Era Autovehicle Services Limited, Kojo Motors, Germaine Auto Centre, R.T. Briscoe Plc, TAB Autos Limited and Mandilas Motors.

Jetour Nigeria has invited prospective customers to visit any of its authorised dealerships nationwide to book a test drive and experience firsthand the RELY R8’s blend of rugged capability, cutting-edge technology and premium comfort.

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No Hiding Place for Traffic Offenders as FRSC Unleashes 12 Special Operations Nationwide

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No Hiding Place for Traffic Offenders as FRSC Unleashes 12 Special Operations Nationwide

 

The Federal Road Safety Corps (FRSC) has launched one of the most ambitious nationwide road safety operations in its history, deploying 12 intelligence-driven, code-named special enforcement campaigns across the country’s Zonal Commands in a decisive bid to curb road crashes, crack down on traffic offenders and save lives.

The coordinated initiative, known as the Zonal Special Intervention Patrol (ZSIP), commenced on July 20, with all 12 Zonal Commands simultaneously rolling out operations specifically designed to tackle the peculiar road safety challenges within their jurisdictions.

The operations are peration Fushin Zuma (Anger of the Bee) in Kaduna, Operation Ride Safe in Bauchi, Operation Shark Smile in Port Harcourt, Operation ABO (Safe Passage) in Lagos, Operation Sauka Lafia in Abuja, Operation Kasolayo in Ilorin, Operation Kwushi Ihe Mberede in Enugu, Operation Sanity in Osogbo, Operation Total Compliance in Benin, Operation Harbin Kunama (Scorpion Sting) in Yola, Operation Hadarin Kalangu in Jos, and Operation Daidaita Loading in Zone 10.

The Corps said the coordinated intervention reflects its determination to confront the major causes of road traffic crashes through intelligence-led enforcement, aggressive public enlightenment, enhanced operational visibility, stakeholder engagement and strategic collaboration with other security agencies.

Approved by the Corps Marshal, Shehu Mohammed, the Special Intervention Patrol is designed to empower each Zonal Command to tackle the unique crash patterns and traffic violations prevalent in its area of responsibility.

According to the Corps Marshal, the initiative marks a significant departure from conventional traffic enforcement, shifting instead to targeted, intelligence-based operations capable of delivering measurable results in reducing road crashes and fatalities.

He explained that each operation had been carefully crafted to address dangerous driving behaviours and recurring traffic offences responsible for avoidable deaths and injuries on Nigerian roads.

Mohammed disclosed that the operations would witness massive deployment of FRSC personnel to highways, motor parks, loading points and other critical traffic corridors across the country.

The enforcement exercise, he added, would be complemented by sustained public awareness campaigns, stakeholder engagement and close collaboration with sister security agencies to ensure effective enforcement and prompt emergency response.

He warned motorists, commercial vehicle operators and fleet owners that there would be no hiding place for traffic offenders, stressing that anyone found violating traffic regulations would face firm but professional enforcement in line with the Corps’ statutory mandate.

The Corps Marshal, however, assured law-abiding road users that the operations were not designed to harass or punish responsible motorists but to safeguard lives and property.

He urged Nigerians to cooperate with FRSC patrol teams by obeying traffic regulations, avoiding dangerous practices such as overloading, mixed loading and reckless driving, while encouraging members of the public to report unsafe road users.

Mohammed also called on transport operators to embrace voluntary compliance, noting that road safety remains a shared responsibility requiring the collective commitment of government, transport stakeholders and every road user.

Summing up the Corps’ renewed determination to reduce road carnage on Nigerian highways, he declared: “Every Zone has a mission. Every patrol has a purpose. Every operation is a commitment to saving lives.”

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Jetour Nigeria Extends Winning Streak, Clinches Auto Brand of the Year Award

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L-R: National President of the Chartered Institute of Logistics and Transportation, Dr. Boboye Oyeyemi; Jetour Nigeria Executive, Adeola Oluwakemi; and representative of the Hon. Minister of Marine and Blue Economy, Madam Yussuf Rasheedat, at the 12th Nigeria Transport Lecture event held at Radisson Blu Hotel, Ikeja, Lagos recently

Jetour Nigeria Extends Winning Streak, Clinches Auto Brand of the Year Award

 

Jetour Nigeria has reinforced its growing dominance in Nigeria’s automotive market after emerging Auto Brand of the Year at the 12th Nigeria Transport Lecture and Awards, adding yet another prestigious honour to its expanding list of industry accolades.

The award, presented at the Transport Day Media event held at the Radisson Blu Hotel, Ikeja, Lagos, recognises the company’s remarkable market growth, expanding customer base and commitment to delivering innovative mobility solutions backed by reliable after-sales support.

This latest recognition comes on the heels of Jetour Nigeria’s recent Market Share Leadership Award 2025 from Jetour International, further underscoring the brand’s rapid ascent as one of the country’s fastest-growing automobile brands.

A Rapid Rise to the Top

The award highlights Jetour Nigeria’s explosive growth trajectory, soaring market acceptance, and unwavering commitment to tech-driven vehicles and premium after-sales support.

Speaking on the decision to honour the brand, Publisher of Transport Day Media, Mr. Frank Kintum, noted that Jetour’s disruptive impact on the market made it impossible to ignore.

“The Jetour brand has made a remarkable impact on the Nigerian market since its introduction, and they have consistently sustained that momentum,” Kintum stated.

“It was therefore difficult to overlook the brand for this prestigious recognition.”

Power of Authenticity

This latest accolade underscores Jetour Nigeria’s position as the sole authorized distributor of the global brand. Officially appointed by Jetour International in 2022, the company holds the exclusive rights to import, distribute, and service the entire Jetour lineup in Nigeria.

To protect consumer investments, Jetour Nigeria has built a comprehensive automotive ecosystem. By purchasing through the official network, customers are guaranteed genuine spare parts, expert factory-trained technical support, and valid manufacturer warranties.

Global Recognition/ Diverse Lineup

Jetour Nigeria says in a statement tgst its aggressive market strategy is not just winning local awards, it is turning heads globally.

At the 2026 Jetour Global Conference, Jetour International presented the Nigerian team with the Market Share Leadership Award 2025, crowning it the brand’s top-performing market in Africa.

This joins an already packed trophy cabinet, which includes the Nigeria Auto Journalists Association (NAJA) New Entrant of the Year, Fastest Growing Auto Brand, and the NAJA Car of the Year for the sleek Jetour Dashing.

Jetour’s rapidly expanding portfolio caters to a new generation of Nigerian drivers, blending rugged capability with eco-conscious innovation-the Flagship- G700 stands at the apex of the lineup as a luxury off-roader that delivers highly efficient running costs thanks to its advanced Plug-in Hybrid Electric Vehicle (PHEV) powertrain.

The SUVs & Crossovers are the X50, X70 Plus, X90 Plus, T1 and the award-winning Dashing.

Rugged & Hybrid Capability-The rugged Jetour T2 (alongside its PHEV variant) and the X70 PHEV.

Nationwide Reach via Elite Dealerships

To ensure seamless, nationwide access to sales and premium maintenance, Jetour Nigeria operates through a carefully selected network of seven authorized dealership partners.

These remain the only entities officially recognized by both Jetour International and Jetour Nigeria to sell and service Jetour vehicles across the country, they are Elizade Nigeria Limited, New Era Autovehicle Services Limite, Kojo Motors, Germaine Auto Centre, R.T. Briscoe Plc, TAB Autos Limited, and Mandilas Motors.

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