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SERAP Asks State Governors, Wike to Disclose Details of Chinese Loans
Socio-Economic Rights and Accountability Project (SERAP) has asked Nigeria’s 36 state governors and Nyesom Wike, minister of the Federal Capital Territory, to provide detailed information regarding any Chinese loans and other external borrowings obtained and guaranteed by the Federal Government.
In a statement released over the weekend, SERAP urged the governors and the FCT minister to disclose the full terms and conditions of these loans, including provisions on collateral, interest rates, repayment obligations, and any incidents of defaults or debt restructuring.
SERAP urged them to “provide details of the repayment obligations regarding any Chinese loans, liabilities and other external borrowing obtained and guaranteed by the Federal Government, the interest rates on the loans, and any defaults, debt restructurings, and debt exposure to China and other creditors.”
SERAP also urged them to “clarify any investment agreements with Chinese companies and repayment histories of any loans, liabilities and facilities obtained from China and other external creditors and guaranteed by the Federal Government.”
In the letters dated August 24, 2024 and signed by Kolawole Oluwadare, SERAP deputy director the organisation said: “We are concerned that your state and the FCT may have failed to efficiently manage your debt obligations, especially your external debt and investment obligations, as guaranteed by the Federal Government.”
According to SERAP, “The failure to uphold your obligations is contrary to Section 6 of the Debt Management Office Establishment (Etc), Act, and creates financial risks and other exposure to Nigeria with respect to these Chinese loans, liabilities and other external borrowing.”
SERAP said, “These Chinese loans, liabilities and other external borrowing by your state and the FCT may not have been used for the purposes for which they have been obtained and terms and conditions guaranteed by the Federal Government.”
The letters, read in part: “SERAP is concerned that there is a significant risk of defaults of the Chinese loans, liabilities, and other external borrowing by your state and the FCT, which are guaranteed by the Federal Government.”
“There are also significant risks of confiscation of Nigerian assets in foreign jurisdictions by multilateral and bilateral agencies and other creditors in cases of failure by your state and the FCT to satisfactorily observe and fulfil the terms and conditions of the Chinese loans, liabilities and other external borrowing which are guaranteed by the Federal Government.”
“The apparent inadequacy of safeguards and accountability mechanisms for these Chinese loans, liabilities and other external borrowing may also expose Nigeria’s assets in foreign jurisdictions to confiscation.”
“Your state and the FCT have a shared obligation to ensure that the spending and repayment plans of Chinese loans, liabilities, facilities and other external borrowing are consistent with the provisions of national and international standards, and to prevent or mitigate risks of confiscation of Nigerian assets abroad.”
“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 and the FCT to comply with our request in the public interest.”
“Despite several external loans, liabilities, investment obligations and external borrowing obtained by your state and the FCT, which are guaranteed by the Federal Government over many years, millions of Nigerians in your state and the FCT continue to lack access to regular electricity supply and have been denied the benefit of renewable energy solutions.”
“A recent report by the National Bureau of Statistics (NBS) revealed that over 133 million Nigerians are living in different categories of poverty, the majority of them women and children.”
“SERAP is seriously concerned that many of the country’s 36 states and FCT are allegedly mismanaging public funds which may include Chinese loans, liabilities and other external borrowing obtained from bilateral and multilateral institutions and agencies and guaranteed by the Federal Government.”
“We urge you to disclose the spending details of these Chinese loans, investment obligations and external borrowing, including details of and locations of projects as well as the implementation status and completion reports, if any, on the projects.”
“According to Nigeria’s Debt Management Office, the total external debt for Ogun State is N168,833,006.66 as at December 31, 2023. The total public debt portfolio for the country’s 36 states and the Federal Capital Territory is N9.17 trillion.”
“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 FCT.”
“SERAP notes that the World Bank has approved several loans and other funding facilities to the country’s 36 states including the recent $750 million credit line meant to the states to carry out reforms to attract investment and create jobs.”
“The World Bank on 15 December 2020 approved a $1.5 billion loan for Nigeria’s 36 states and the FCT for social protection and strengthened state-level COVID-19 response. The loan aims to help the states build a resilient recovery post-COVID19 and to reduce poverty.”
“SERAP is concerned that the Chinese loans and other external borrowing obtained by your state and guaranteed by the Federal Government are vulnerable to corruption and mismanagement.”
“Publishing details of the Chinese loans, liabilities, investment obligations and other external borrowing obtained by your state and the FCT which are guaranteed by the Federal Government would allow Nigerians to scrutinise them.”
“Section 39(1) of the Nigerian Constitution 1999 [as amended], section 44 of the Fiscal Responsibility Act and article 9 of the African Charter on Human and Peoples’ Rights to which Nigeria is a state party impose legal obligations on your state and the FCT to disclose the details sought.”
“Section 41 of the Fiscal Responsibility Act provides: ‘1) The framework for debt management during the financial year shall be based on the following rules: a. Government at all tiers shall only borrow for capital expenditure and human development, provided that, such borrowing shall be on concessional terms with low interest rate and with a reasonable long amortization period subject.’”
“Section 44 of the Fiscal Responsibility Act provides: ‘1) Any Government in the Federation or its agencies and corporations desirous of borrowing shall, specify the purpose for which the borrowing is intended and present a cost-benefit analysis, detailing the economic and social benefits of the purpose to which the intended borrowing is to be applied.’”
“According to section 21(1)(2) of the Debt Management Office Establishment (Etc), Act, ‘No external loan shall be approved or obtained by the Minister unless its terms and conditions shall have been laid before the National Assembly and approved by, its resolution. (2) The Federal and State Government or any of their agencies shall not obtain any external loan except with a guarantee issued by the Minister.’”
The National Information Technology Development Agency (NITDA) and the National Universities Commission (NUC) have renewed their commitment to implementing the Digital Literacy and Skills Curriculum across all Nigerian universities.
This was announced during the Director General of NITDA, Kashifu Inuwa and his management team visit to the National Universities Commission (NUC), where they engaged with the newly appointed Executive Secretary, Professor Abdullahi Yusufu Ribadu.
The visit provided an opportunity to reignite the implementation of this ambitious initiative, which was agreed upon during the initial visit in December 2024, and to reinforce the commitment of both organisations toward integrating digital literacy into Nigeria’s higher learning institutions.
During the meeting, Inuwa emphasised that human capital development is at the heart of national progress, and that there is need to reform Nigeria’s education system by reviewing university curricula to incorporate digital skills and emerging technologies such as Artificial Intelligence (AI), Blockchain, Internet of Things ((IoT) Cloud computing, and Cybersecurity.
He said, “With the rapid advancement of technology, digital skills have become a necessity for success in today’s workforce. This collaboration is a strategic move to equip Nigerian students with the competencies needed to thrive in a technology-driven world, enhancing job creation, entrepreneurship, and overall economic resilience.
“We must review the school curriculum to embed digital literacy and skills, ensuring that our graduates are not just degree holders but are equipped with the necessary competencies to thrive in a technology-driven world. Education reform is critical, and implementing this curriculum across all universities will be a game-changer in our nation’s development,” Inuwa stated.
This partnership aligns and NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0), underscoring the critical role of digital literacy in preparing the nation’s youth for the future.
He further stressed the initiative aligns with President Bola Ahmed Tinubu’s administration priorities of reforming the economy to deliver sustained inclusive growth, and accelerating diversification through industrialization, digitization, creative arts, manufacturing and innovation.
Inuwa added that empowering young Nigerians with digital knowledge would drive economic transformation by creating a workforce that is innovative, entrepreneurial, and ready to meet the challenges of the modern economy.
Professor Ribadu, in his response, reaffirmed NUC’s unwavering commitment to the full implementation of the Digital Literacy and Skills Curriculum, emphasisng the Commission’s dedication to fostering innovation and digital transformation within the higher education sector.
He commended NITDA for its leadership in driving Nigeria’s digital agenda and assured that NUC would work closely with the agency to ensure seamless integration of the initiative into university curricula nationwide.
He acknowledged that digital education is central to Nigeria’s vision of becoming a leading knowledge-based economy and pledged to facilitate necessary policy adjustments to support this goal.
The collaboration between NITDA and NUC will involve a structured implementation plan, capacity-building programmes for educators, and the deployment of digital infrastructure to facilitate seamless adoption. Universities will also be encouraged to incorporate emerging technologies into their curricula, ensuring students are equipped with skills that align with global industry standards.
The initiative is also expected to bridge the digital divide, ensuring that students from all backgrounds, including those in rural and underserved areas, have access to quality digital education.
As technology continues to reshape industries and societies worldwide, Nigeria’s investment in digital literacy will serve as a catalyst for long-term socio-economic transformation.
With strong commitment from both NITDA and NUC, the implementation of the Digital Literacy and Skills Curriculum will mark a new era in Nigeria’s education sector, fostering a generation of tech-savvy graduates who are well-prepared to drive the nation’s digital economy forward.
Nigeria Sanctions Committee (NSC) has designated Simon Ekpa, 16 other persons and two entities, for their alleged involvement in supporting terrorist activities and terrorism financing.
Simon Ekpa
The committee further directed financial institutions to freeze their assets and report any transactions related to the individuals and entities to the Sanctions Committee and the Nigerian Financial Intelligence Unit (NFIU).
Those named on the list include Simon Ekpa, Godstime Promise Iyare, Francis Mmaduabuchi, John Onwumere, Chikwuka Eze, Edwin Chukwuedo, Chinwendu Owoh, Ginika Orji, Awo Uchechukwu, and Mercy Ebere Ifeoma Ali.
Others are Ohagwu Juliana, Eze Okpoto, Nwaobi Chimezie, Ogomu Kewe, Igwe Ka Ala Enterprises, Seficuvi Global Company, and Lakurawa Group.
According to a document obtained from the committee on Thursday, the list was approved by the President upon the recommendation of the Attorney General of the Federation.
“The Nigeria Sanctions Committee held a meeting on March 6, 2024, where specific individuals and entities were recommended for designation following their involvement with terrorism financing.
“The Attorney General of the Federation, with the approval of the President, has thereupon designated the following individuals and entities to be listed on the Nigeria Sanctions List.
“In accordance with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, you are required to:
“(a) Immediately identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons in your possession and report the same to the Sanctions Committee.
“(b) Report to the Sanctions Committee any assets frozen or actions taken in compliance with the prohibition requirements.
“(c) Immediately file a Suspicious Transactions Report (STR) to the NFIU for further analysis of the financial activities of such individuals or entities.
(d) Report as an STR to the NFIU all cases of name matching in financial transactions prior to or after receipt of this list.”
The committee ordered the immediate freezing of bank accounts and financial instruments associated with the listed individuals and entities across multiple banks, payment platforms, and financial institutions.
“Freezing measures should be extended to all accounts associated with the designated subjects. For designated entities, this should include accounts linked to their signatories and directors to ensure comprehensive enforcement of the sanctions regime,” the document added.
The committee also stated that financial institutions and relevant stakeholders have been instructed to enforce the sanctions and submit compliance reports to the Nigeria Sanctions Committee via [email protected] and
See the full list of the frozen accounts below
- Simon Ekpa Njoku 21-03-1985 Guaranty Trust Bank 0118835791, 0115442299, 0115442275
- Godstime Promise Iyare 20-05-1996 Access Bank 0060032439, 1187008630, 1448136683. UBA 2212655102. Moniepoint 8197394552. Kuda 2007096158. Promicool Venture- Moniepoint 8197394576.
- Francis Chukwuedo Mmaduabuchi 27-09-1987 Eco Bank 3941072599, Fidelity 6239280146, Opay 8037688095, Moniepoint 8196060258, 8196028438, 8196028452,5380383959, 5612325508,4730823866, 8037688095
- John Anayo Onwumere 05-03-1987 Sterling 0026224269, Zenith 4230646454
- Chikwuka Godwin Eze 05-05-1975 First Bank 3031299977, Access Bank 0110709618, 0108595489, 1132518632
- Edwin Augustine Chukwuedo 27-05-1983 Union 0010808495, 0110232286, 0069247850, Eco Bank 2321194539, Opay 8169916076, Moniepoint 6786290317, 6786290300
- Chinwendu Joy Owoh 10-02-1982 First Bank 3125731837, GTB 0115848475, Moniepoint 6474876289, Union 0014660761
- Ginika Jane Orji 05-10-1995 Blueridge 8039231985, Opay 7059681248, 8106940744
- Awo Uchechukwu 11-12-1978 First Bank 3060144916
- Mercy Ebere Ifeoma Ali 07-07-1998 Access 1612608952, FCMB 6594319019, First Bank 3147574474
- Ohagwu Nneka Juliana 15-08-1985 UBA 2147559148
- Eze Chibuike Okpoto 12-01-1989 Access 0071127599, 1138098116, FCMB 3723955016, GT Bank 0123014963
- Nwaobi Henry Chimezie 12-06-1991 Access 1113046148, 1113046148, UBA 2115584448, 2117752704, First Bank 3067985749, Moniepoint 8276850931,
- Ogomu Peace Kewe 27-06-1997 Access 1840168323, UBA 2096777826, First Bank 3124937333, 2041450556, (USD) 3180578127, Zenith 2547460190, Opay 9069071154, Kuda 2028607838, Fidelity 6552642526, GT Bank 0258732080, Stanbic 0021280495
- Igwe Ka Ala Enterprises 3750733 Access 1872085373, 0800331795. Fairmoney 2683102063. Fidelity 5090919707, GTB 0206153527, 0044247093, 0044247086, 0044247079, 0044247062, 0044247055, 0044247103, 4020644423. Opay 9023765613, 8035144914, 8126308128. Polaris 3124277058. Carbon 0629821223. Zenith 1226773554
- Seficuvi Global Company 3225098 Access Bank 1436852548, Eco Bank 3831141439
- Lakurawa Group NLLKW
ALX, Africa’s leading tech career accelerator, is celebrating a major win for young African talent as 21 exceptional learners from the ALX Pathway program secure prestigious scholarships from the Mastercard Foundation to pursue further studies at the African Leadership College of Higher Education (ALCHE).
Among them, seven outstanding scholars are from Nigeria, reinforcing the country’s reputation as a hub for ambitious, high-potential talent within ALX’s transformative learning ecosystem.
The programme is a pathway to global universities and scholarships, equipping Africa’s future leaders with cutting-edge skills, career-defining networks, and access to life-changing opportunities in high-growth industries.
Speaking on this remarkable achievement, Oluwapelumi Thomas, Learning Community Experience Specialist at ALX Nigeria, shared, “At ALX, we believe that unlocking Africa’s potential starts with unlocking the potential of its people.
The success of these learners in securing scholarships to ALCHE through the Mastercard Foundation is evidence that talent, when nurtured with the right opportunities, knows no bounds. We couldn’t be prouder.”
Among the Nigerian awardees are: Ayomide Samson Ajayi, Effiong Immaculata Emmanuel, Hanif Olayiwola, Chigozie Emmanuel Ndubuaku, Peace Chidinma Chukwuka, Chibuzor Moses Uzowuru and Chisom Obueze Louisa.
The Mastercard Foundation scholarships will provide recipients with full tuition and stipends to pursue world-class higher education at ALCHE, sharpening their leadership, technical, and entrepreneurial skills to drive impact across the continent. This milestone reinforces ALX’s role as a driving force in shaping Africa’s next generation of changemakers.
With every success story, ALX continues to open doors for Africa’s young professionals, empowering them to take advantage of career support, networking, and transformative scholarship opportunities. The journey doesn’t stop here—Africa’s future innovators are just getting started.
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