EVENTS
Alleged Mismanagement Of $4.5 Billion World Bank & Chinese Loan: SERAP Urges Tinubu To Investigate 36 States, FCT And Previous Government Of Buhari, Says Those Guilty should Face Prosecution As Appropriate.
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu, to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN) and appropriate anti-corruption agencies, to promptly and thoroughly investigate the spending of $1.5bn World Bank loan obtained by the 36 states and Abuja for poverty reduction and social protection across the states.
SERAP said, “Suspected perpetrators of corruption and mismanagement should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.”
SERAP also urged him to direct Fagbemi and appropriate anti-corruption agencies to promptly investigate the alleged mismanagement of the Chinese loans of $3.121bn obtained by the Federal Government.
In the open letter dated 10 August 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said ensuring accountability for the spending of World Bank loans and Chinese loans, would build trust in democratic institutions with the ultimate aim of strengthening the rule of law.
Impunity for corruption in the management of World Bank loans and Chinese loans will continue as long as high-ranking public officials go largely unpunished for their alleged crimes.
“It is by pursuing these allegations and taking the evidence before the court that the truth will be revealed and justice best served.
“There are reports that the $1.5bn World Bank loan to the 36 states and Abuja and the $3bn Chinese loans obtained by the Federal Government may have been mismanaged or diverted, and in any case remain unaccounted for.
“Investigating and prosecuting allegations of corruption and mismanagement in the spending of World Bank loans and Chinese loans would be entirely consistent with the Nigerian Constitution, and the country’s international anti-corruption obligations.
“We note that while a governor may enjoy immunity from arrest and prosecution, he does not enjoy immunity from investigation. Any criminal allegation against a sitting governor can and should be investigated pending the time the governor leaves office and loses immunity.
“The findings of such investigation can also be the basis for initiating impeachment proceedings against the governor.
“Your government has the legal obligation to ensure accountability for the spending of the loans obtained from the World Bank and China. SERAP is concerned about the continuing lack of transparency and accountability in the management of World Bank loans and Chinese loans obtained by the states and the Federal Government.
“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 consider appropriate legal actions to compel your government to comply with our request in the public interest.
SERAP said it is concerned about years of allegations of corruption and mismanagement in the spending of World Bank loans and Chinese loans obtained by Nigeria’s 36 states and the Federal Government, as well as the entrenched impunity of perpetrators.
“These allegations have undermined the ability of governments at all levels to address the debilitating poverty and economic inequality across the states and the Federal Capital Territory.
“Section 15(5) imposes the responsibility on your government to ‘abolish all corrupt practices and abuse of power’ in any part of the country. Section 15 defines ‘government’ to include the government of the federation, or of any state, or of a local government council or any person who exercises power or authority on its behalf.
“The Nigerian Constitution and human rights treaties to which Nigeria is a state party impose obligations on your government to probe and prosecute allegations of corruption in the spending of World Bank loans and Chinese loans, and to ensure access to justice and effective remedies for victims of corruption.
“Allegations of corruption and mismanagement in the spending of these loans and other loans have rendered already impoverished citizens incapable of satisfying their minimum needs for survival.
“Prevention of corruption in the spending of World Bank loans and other loans are serious and legitimate public interests. There is a legitimate public interest in ensuring justice and accountability for alleged corruption and mismanagement in the management of these loans.
“According to our information, the World Bank on 15 December 2020 approved a $1.5 billion loan for Nigeria’s 36 states and Abuja for social protection and strengthened state-level COVID-19 response. The loan aims to help the states and Abuja build a resilient recovery post-COVID19 and to reduce poverty.
“Specifically, the loan aims to increase access to basic education, quality water and sanitation services; improve primary healthcare; and increase the coverage and effectiveness of social assistance programs, promote women’s empowerment and reduce maternal and child mortality across the states.
“The $1.5 billion World Bank loan is for two projects. The first is Nigeria Covid-19 Action Recovery and Economic Stimulus – Program for Results (Nigeria CARES) which aims to help increase access to social transfers and basic services, as well as provide grants to poor and vulnerable households. The project is financed through an International Development Association (IDA) credit of $750 million.
“The second is the State Fiscal Transparency, Accountability and Sustainability Program for Results (SFTAS), which aims to help increase the efficiency in spending, strengthen revenue mobilization, and enhance accountability in public resource management to strengthen state-level COVID-19 response.
“The project is financed through an International Development Association (IDA) credit of $750 million.
“According to the Debt Management Office, the total borrowing by Nigeria from China was USD$3.121 billion, as of March 31, 2020. The USD$3.121 billion loans are for 11 projects including the Nigerian Railway Modernization Project (Idu-Kaduna section); and Abuja Light Rail Project.
“Others include the Nigerian Four Airport Terminals Expansion Project (Abuja, Kano, Lagos and Port Harcourt), Nigerian Railway Modernization Project (Lagos-Ibadan section) and Rehabilitation and Upgrading of Abuja – Keffi- Makurdi Road Project.
“According to the Debt Management Office, Nigeria’s total public debt stock, including external and domestic debts, increased by ₦24.33 trillion in three months alone, from ₦97.34 trillion ($108.23 billion) in December 2023 to ₦121.67 trillion ($91.46 billion) as of March 31, 2024.
“The debt represents external and domestic loans obtained by the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).”
Follow ekwutosblog for timely and verified news
Governor Babajide Sanwo-Olu of Lagos State on Friday participated in a wreath-laying ceremony marking the 50th anniversary of the death of the late General Murtala Ramat Muhammed, GCFR.
The event was attended by notable dignitaries, including Senator Daisy Danjuma, wife of retired Lt. General Theophilus Danjuma; Dr Aisha Muhammed Oyebode, daughter of the late General and CEO of the Murtala Muhammed Foundation; her husband, Gbenga Oyebode; and Hon. Bola Oladunjoye, Chairman of Ikoyi-Obalende LCDA, among other officials and guests.
Wreaths were laid at the cenotaph in honour of General Muhammed, celebrating his life, leadership, and enduring contributions to Nigeria.
General Murtala Ramat Muhammed served as Nigeria’s Head of State from July 1975 until his assassination on February 13, 1976.
His leadership was abruptly ended when his convoy was ambushed in Ikoyi, Lagos, during a failed coup attempt, resulting in his death alongside his driver and aide-de-camp.
Following his assassination, leadership passed to his deputy, Lieutenant General Olusegun Obasanjo, who continued the transition to civilian governance.
Fifty years later, commemorative activities are being held throughout February 2026, including exhibitions, policy dialogues, memorial gatherings, and wreath-laying ceremonies, highlighting General Muhammed’s legacy and enduring impact on Nigeria’s history.
EVENTS
GOVERNOR SOLUDO’S ULTIMATUM AND THE BATTLE FOR ANAMBRA’S MONDAYS, SHUTS DOWN ONITSHA MAIN MARKET FOR A WEEK
By Christian ABURIME
Anambra State Governor, Prof Chukwuma Charles Soludo has ordered the immediate shut down of the Onitsha Main Market for one week, following defiance of the market leadership to open, against government directive.
Governor Soludo’s order for a one-week shutdown of the sprawling market is more than an administrative penalty. It is the latest, and perhaps most drastic, salvo in a protracted war over who controls time and economic life in Southeast Nigeria on mondays. The enemy is the long-standing, fear-enforced Monday sit-at-home order, a ghostly mandate from non-state actors that has strangled businesses and normalized weekly monday sit-at-home for years.
The Governor’s move is a direct response to what the government sees as baffling defiance. Despite repeated assurances of enhanced security and appeals to reclaim public spaces, many traders at the iconic market again chose to keep their stalls locked. Their absence was a quiet rebellion, but one that spoke volumes about the lingering climate of apprehension.
“The government cannot stand by while a few individuals willfully undermine public safety and disregard official directives meant to restore normalcy, this is plain economic sabotage. We are not going to allow this”, Governor Soludo stated, framing the closure as a protective measure for the “law-abiding citizen.” But his subsequent warning carried the weight of an escalating ultimatum: if the market does not reopen for business after this one-week shutdown, it will be sealed for a month. “And so on and so forth,” he added, drawing a line in the sand.
“You either decide that you are going to trade here or you go elsewhere. I am very serious about this”, the Governor insisted.
The scene at the market was one of tense enforcement. A joint task force of police, army, and other security personnel moved swiftly to secure the perimeter, turning away the few hopefuls who approached.
For the Soludo administration, the solution is unwavering enforcement to break a psychological barrier. The strategy is clear: make the cost of compliance with the illegal sit-at-home order higher than the fear that drives it. By targeting the economic heart of the region, the government aims to trigger a collective shift in behavior, betting that the traders’ desire to trade will ultimately outweigh their fear.
As the gates remain locked this week, the standoff in Onitsha encapsulates the broader struggle in the Southeast. It is a fight over normalcy, authority, and the fragile psyche of a populace caught between enforced directives and imposed orders. When the gates are scheduled to reopen next Monday, all eyes will be on the traders. Will they return to their stalls, emboldened by the state’s show of force? Or will the silent, empty aisles deliver a different verdict?
The answer will determine not just the fate of a market, but the rhythm of life in Anambra for Mondays to come.
https://www.instagram.com/reel/DT-PAX-DIAi/?igsh=bzVxOGgzcTF0OG5k
A Nigerian man has gone viral on X (formerly Twitter) after sharing throwback photos of himself and his wife from when they were both still children.
In the post, @Sadeeq_Malo revealed that he has loved his wife for 17 years, describing her as his uncle’s daughter, a statement that immediately caught the attention of social media users.
Sharing the photos, he wrote:
“17 years of love. I fell in love with her from the day she was born — my uncle’s daughter, now my bride. Allahummah Barik.”
The old photos, which show the couple as children, were shared alongside recent pictures of them as a married couple, sparking massive engagement online.
The post has since divided opinions on social media. While some users defended the union noting that cousin marriages are culturally acceptable in some communities, others focused on the unusual wording of his declaration.
Reacting, one user wrote, “Fell in love from the day she was born? That sentence alone is wild.” Another commented, “People should calm down. Cousin marriage is normal in many cultures.”
Despite the mixed reactions, the man appears unfazed, celebrating what he describes as a 17-year journey of love that eventually led to marriage.
Check post below….
Police bust syndicate behind nude photo blackmail in Lagos
Man in shock after lady he lodged with in a hotel in Abuja flees with his car and other valuables
US Reacts As De@th Toll In Kwara Terror Attacks Hits 200
-
Business1 year ago
US court acquits Air Peace boss, slams Mayfield $4000 fine
-
Trending1 year agoNYA demands release of ‘abducted’ Imo chairman, preaches good governance
-
Politics1 year agoMexico’s new president causes concern just weeks before the US elections
-
Politics1 year agoPutin invites 20 world leaders
-
Politics1 year agoRussia bans imports of agro-products from Kazakhstan after refusal to join BRICS
-
Entertainment1 year ago
Bobrisky falls ill in police custody, rushed to hospital
-
Entertainment1 year ago
Bobrisky transferred from Immigration to FCID, spends night behind bars
-
Education1 year ago
GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI