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SERAP sues Tinubu ‘over failure to probe missing $3.4bn IMF loan’
SERAP sues Tinubu ‘over failure to probe missing $3.4bn IMF loan’
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu over “the failure to probe the grim allegations that the $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.”
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.”
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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 the 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.”
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“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.
SERAP sues Tinubu ‘over failure to probe missing $3.4bn IMF loan’
News
Yoruba Muslim Group Dismisses Viral Ramadan Date Claim, Reaffirms Sultan of Sokoto’s Authority
Yoruba Muslim Group Dismisses Viral Ramadan Date Claim, Reaffirms Sultan of Sokoto’s Authority
A Yoruba Muslim group, Concerned Indigenous Yoruba Muslims, has dismissed as false, misleading, and divisive a viral social media report alleging that the Chief Imam of Ibadanland and the League of Imams in Yorubaland rejected the authority of the Sultan of Sokoto in determining the commencement of Ramadan in South-West Nigeria.
The report, which circulated online ahead of Ramadan 1447AH, claimed that Yoruba Muslim leaders had resolved to disengage from the Sultan’s traditional role of announcing moon sighting for the fasting period and instead align with indigenous religious structures. The group, however, said the claim was entirely fabricated and designed to sow discord within the Muslim community.
In a statement issued on Saturday, February 21, 2026 — the fourth day of Ramadan, and signed by public affairs analyst Nasrudeen Abbas, the group said the comments attributed to the Chief Imam of Ibadan, reportedly over 90 years old, could not have emanated from him. It described the publication as a calculated attempt to create unnecessary religious tension and misrepresent the position of Yoruba Muslims.
The group reaffirmed that Islamic affairs in Nigeria operate under established leadership structures, particularly the Nigerian Supreme Council for Islamic Affairs (NSCIA), which is headed by the Sultan of Sokoto, Muhammad Sa’ad Abubakar, as President-General. It explained that the NSCIA structure includes the President of the Muslim Ummah of South West Nigeria (MUSWEN) as Deputy President-General (South), the Shehu of Borno as Deputy President-General (North), alongside other national officers.
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According to the group, any attempt to distance Yoruba Muslims from this nationally recognised structure threatens the unity of the Muslim Ummah in Nigeria and contradicts Islamic principles that emphasise cohesion, collective leadership, and obedience to constituted authority.
The group also faulted claims that the Sultan’s position is merely a traditional title limited to Sokoto State. It stressed that the Sultan’s authority in Islamic matters is rooted in scholarship and the historical caliphate system, noting that emirs in Northern Nigeria often combine traditional authority with religious leadership. As an example, it cited Muhammadu Sanusi II, who regularly delivers Friday sermons and performs Islamic rites.
It further explained that in Yorubaland, traditional rulers generally do not head religious affairs, except in rare cases. The group referenced the late Awujale of Ijebu Land, who once served as President-General of the Ogun State Muslim Council, stressing that such roles remain exceptions rather than the norm.
The statement also recalled the position of the late Kazeem Yayi Akorede, former President-General of the League of Imams and Alfas in the South West. According to the group, Sheikh Akorede initially questioned the Sultan’s leadership role but later accepted it after clarifications that the position was based on Islamic scholarship and caliphate leadership, not mere traditional kingship. It added that until his death, he consistently aligned with the Sultan’s announcements on the commencement and termination of Ramadan.
Describing the viral publication as unethical, the group criticised claims that Yoruba Muslims are not religiously bound to the Sultan’s authority and that religious leadership should go beyond duties such as moon sighting announcements. It alleged that such narratives were politically motivated and aimed at advancing a separatist agenda under the guise of religious autonomy.
The group warned that politicising religious matters could undermine religious harmony and national unity, urging those behind the report to desist from actions capable of creating discord among Muslims across the country. It concluded by stressing that the unity of the Muslim Ummah in Nigeria remains paramount and must not be compromised by what it described as sectarian or politically engineered narratives.
Yoruba Muslim Group Dismisses Viral Ramadan Date Claim, Reaffirms Sultan of Sokoto’s Authority
News
NNPC CEO Ojulari Receives Prestigious Energy Institute Fellowship in London
NNPC CEO Ojulari Receives Prestigious Energy Institute Fellowship in London
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has earned international acclaim as its Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, has been conferred with the Fellowship of the Energy Institute (FEI), United Kingdom — one of the highest honours in the global energy industry.
The Fellowship recognises senior energy leaders who have demonstrated sustained, high-impact contributions to the advancement of the energy sector. It was formally conferred on Ojulari during International Energy Week (IEW) in London, a leading platform for energy policy, finance, and industry leadership. (punchng.com)
The honour was presented by Andy Brown, President of the Energy Institute, who praised Ojulari’s transformative leadership of NNPC Ltd., highlighting his role in strengthening governance, embedding a performance-driven culture, and repositioning the company for long-term value creation.
Under his stewardship, NNPC Ltd. has implemented investor-focused reforms, enhanced operational excellence, and expanded strategic global partnerships, all contributing to increased confidence in Nigeria’s energy sector. The recognition reinforces NNPC’s ongoing transformation into a commercially driven, globally competitive, and transparent energy company.
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Significance for Nigeria and Africa
Experts note that the FEI Fellowship is not only a personal achievement for Ojulari but also a major institutional endorsement of NNPC Ltd.’s reform agenda. Being recognised at International Energy Week, which convenes policymakers, financiers, regulators, and industry leaders, positions the company at the centre of critical global energy discussions on sustainability, energy transition, and capital formation.
The award also signals growing international confidence in NNPC Ltd. and highlights Nigeria’s strategic role in Africa’s energy security and global energy transition ambitions. (vanguardngr.com)
Ojulari’s Leadership Achievements
Since assuming office, Engr. Ojulari has overseen multiple strategic reforms at NNPC Ltd., including:
- Driving governance and operational reforms to boost accountability.
- Expanding strategic partnerships and investor-focused initiatives.
- Enhancing execution efficiency across the company’s subsidiaries.
- Positioning NNPC Ltd. as a credible, investment-ready energy enterprise.
These efforts have not only improved the company’s profitability and performance but also strengthened Nigeria’s energy security and market competitiveness. (punchng.com)
Ojulari described the Fellowship as a reflection of collective effort within NNPC and reiterated his commitment to sustainable value creation, global best practices, and energy sector innovation.
NNPC CEO Ojulari Receives Prestigious Energy Institute Fellowship in London
News
FCT Polls: CSO Situation Room Flags Late Voting, Vote Buying, Logistical Challenges
FCT Polls: CSO Situation Room Flags Late Voting, Vote Buying, Logistical Challenges
The Nigeria Civil Society Situation Room has raised concerns over multiple irregularities in the ongoing Federal Capital Territory (FCT) Area Council Elections, citing late polling unit openings, reports of vote buying, and logistical challenges that could affect voter participation.
According to the Situation Room, a coalition of over 70 civil society organisations advocating for credible elections in Nigeria, many polling units opened late, with an average start time of 9:15 a.m., well after the official 8:30 a.m. schedule. Observers also noted low voter turnout in several areas, particularly in AMAC, although queues began forming later in Kuje, Kwali, Gwagwalada, and Abaji Area Councils.
Vote Buying Observed
The coalition reported instances of vote buying, with voters allegedly offered up to ₦10,000 in exchange for ballots in units such as PU008, PU056, PU057, and PU058 in Gidan Mangoro Ward, AMAC. While some of the transactions were open, others were conducted discreetly.
The Situation Room warned that such electoral malpractice undermines the integrity of the election and called on electoral officials, political parties, and security agencies to intervene and prevent further incidents.
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Logistical and Accessibility Issues
Observers noted that some voters struggled to locate their polling units after last-minute changes communicated by INEC via text messages. The Bimodal Voter Accreditation System (BVAS) generally performed efficiently, with a one-minute average accreditation time, though malfunctions were reported in a few units including Gwako Town Primary Schools II & IV and PU143, Gwagwalada.
The Situation Room also highlighted accessibility challenges for voters with disabilities, noting that braille ballot guides, magnifying glasses, and other assistive materials were largely absent, even in designated disability communities such as Karimajiji and PU052, Wuse.
Security and Election Conduct
Security personnel, including officers from the Nigeria Police, Civil Defence, Immigration Service, and Fire Service, were present in significant numbers and generally maintained order and professionalism.
Isolated incidents of intimidation and harassment were reported in locations such as Grade 1 Area Court, Rubochi (Kuje); Naharati Sabo School II, Rimba/Ebagi; and PU3, UNG Liman/UNGWAR LIMAN 1, Abaji Central, but security agents swiftly resolved these situations.
Call for Calm and Integrity
The Situation Room commended the INEC FCT Help Desk for promptly addressing reported issues and called on all stakeholders to maintain calm, resist vote buying, and ensure that the will of the people is respected as the polls continue and results are collated.
The report was jointly signed by Mma Odi and Celestine Odo, co-conveners of the coalition.
FCT Polls: CSO Situation Room Flags Late Voting, Vote Buying, Logistical Challenges
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