News
SERAP Asks FG to Publish Details of Planned N729Bn payments to 24.3m Nigerians
Socio-Economic Rights and Accountability Project (SERAP) has asked Sadia Umar-Farouk, minister of Humanitarian Affairs, Disaster Management and Social Development, to publish details of the proposed payments of N729bn to 24.3 million poor Nigerians for six months.
The group also wants the minister to provide details about the mechanisms and logistics for the payments, list of beneficiaries, how they have been selected, projected payments per state, and whether the payments will be made in cash, through Bank Verification Numbers or other means.
The minister had last week announced that the federal government would pay about 24.3 million poor Nigerians N5,000 each for a period of six months.
She had made the disclosure while speaking at the inauguration of the federal government’s emergency intervention database for the urban poor, saying the payments would serve as a cushion for those further impoverished by the COVID-19 pandemic.
But SERAP is demanding an explanation of the rationale for paying out the amount, which it says translates to five-per cent of the country’s 2021 budget of N13.6 trillion.
It also wants to know if the proposed spending is part of the N5.6 trillion budget deficit.
In the Freedom of Information request dated 23 January 2021 and signed by Kolawole Oluwadare, SERAP deputy director, the organisation said, “Publishing the details of beneficiaries and selection criteria, as well as the payment plan for six months, would promote transparency and accountability, and remove the risks of mismanagement and diversion of public funds.
“Transparency and accountability in the programme would improve public trust, and allow Nigerians to track and monitor its implementation, and to assess if the programme is justified, as well as to hold authorities to account in cases of diversion, mismanagement and corruption.”
SERAP believes to improve transparency and accountability, it is important for the minister to get the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC) to jointly track and monitor the payments.
The group is giving the government seven days from the receipt or publication of its FoI request to grant it.
“If we have not heard from you by then, SERAP shall take all appropriate legal actions under the Freedom of Information Act to compel you to comply with our request,” said Oluwadare.
SERAP explained that although the provision of support and assistance to vulnerable Nigerians is a human rights obligation, the amount involved (five per cent of the 2021 budget) requires anti-corruption safeguards.
Such safeguards, SERAP believes, will “ensure the payments go directly to the intended beneficiaries, and that public funds are not mismanaged or diverted”.
“SERAP notes that the Nigerian Constitution of 1999 [as amended], UN Convention against Corruption, and African Union Convention on Preventing and Combating Corruption to which Nigeria is a state party require the government to set the highest standards of transparency, accountability and probity in programmes that it oversees,” it said.
“The government has a responsibility to ensure that these requirements and other anti-corruption controls are fully implemented and monitored and that the payments are justified in light of the huge budget deficit and borrowing, and whether there are better ways to spend N729bn to support poor Nigerians.”
News
Verve Partners Ali Express On Seamless Cross-Border Shopping
Verve International, Africa’s domestic payments card scheme and token brand, has announced that its cards are now accepted on AliExpress, one of the world’s largest online retail platforms.
This landmark partnership expands Verve’s global reach, offering seamless and secure payment solutions and providing millions of Verve cardholders and merchants worldwide with easy access to AliExpress’ extensive range of products, including fashion, electronics, home goods, beauty, and more.
The collaboration empowers Verve cardholders, both locally and internationally, to engage in cross-border transactions.
It also reinforces Verve’s unwavering commitment to delivering inclusive, innovative, and secure digital payment solutions that empower individuals and businesses alike, while bridging the gap in global digital commerce.
Speaking on the partnership, Vincent Ogbunude, Managing Director, Verve International, remarked: “We are excited to announce that Verve is now accepted on AliExpress, a globally recognised e-commerce leader.
This marks a significant milestone in our global expansion journey, reflecting our commitment to providing cardholders with access to more possibilities in today’s digital economy.
The addition of AliExpress to our growing network is just the beginning, there’s much more to come as we continue to innovate, expand, and deliver value to millions of Verve cardholders in Nigeria and beyond.”
Verve’s expanding global network is bolstered by partnerships with renowned brands such as Google, YouTube, Netflix, Amazon Prime, Facebook, Uber, Spotify, among others, enabling cardholders to conveniently pay for subscriptions in naira.
These alliances solidify Verve’s position as a trusted leader in the digital payments space, ensuring that consumers can access top-notch services across diverse industries.
With AliExpress joining this network and Verve integrated into its payment options, Verve cardholders can easily shop and pay for a wide range of products.
To shop on AliExpress using a Verve card, simply sign in, select the items to buy, and click ‘Buy now.’ When prompted, add a new card and enter the Verve card details. Save the information for future use, confirm the details, and complete the payment seamlessly.
News
Stanbic IBTC Asset Management Unveils Anti-scam Measures to Protect Mutual Fund Holders
Stanbic IBTC Asset Management has introduced strong measures to safeguard its customers from scams targeting mutual fund holders.
In response to this trend, the company has launched a strategic campaign to educate customers on protecting their investments and understanding the correct procedures for mutual fund subscriptions.
The Company, in a statement disclosed that recently, enquiries about the authenticity of messages for mutual fund subscription have surged. It stated: “Many of these messages contain differing and potentially incorrect account numbers, leading to confusion and concern among investors.
“In response to these concerns, Stanbic IBTC Asset Management launched a campaign to educate customers by providing accurate information and security tips to reduce the likelihood of clients falling prey to scam attacks.
“The campaign has established three main objectives: first, to educate customers about the mutual fund subscription process by providing precise and accurate information that empowers them to make informed decisions.
Second, it aims to ensure that customers verify the payment accounts for any Stanbic IBTC mutual fund investments, encouraging due diligence in confirming the legitimacy of financial communications”.
The statement further stated that the campaign seeks to raise awareness of scam attempts that may mislead customers into using incorrect account details, highlighting the tactics used by scammers to keep customers informed and vigilant.
Busola Jejelowo, the Chief Executive of Stanbic IBTC Asset Management, recently addressed the importance of a new initiative to safeguard customers in an increasingly complex financial landscape.
“At Stanbic IBTC, our top priority is our customers’ financial safety, and we are fully committed to ensuring that our clients have the security they need while managing their investments”.
News
Amnesty International Condemns Police Actions During #EndBadGovernance Protests
Amnesty International has accused Nigerian police of using excessive force against demonstrators during the #EndBadGovernance protests, which took place from August 1 to 10 across the country in response to Nigeria’s harsh economic conditions.
According to the human rights organization, the police crackdown resulted in the deaths of at least 24 people, including 20 young adults, two children, and an older person.
Amnesty’s report claims that the victims were shot by police at close range, often in the head or torso, indicating an intent to kill. Two survivors sustained severe injuries, while others suffered from the indiscriminate use of tear gas. The organization condemned the actions of security personnel, describing the violence as “unbelievable lawlessness” and accusing authorities of covering up the atrocities to downplay the death toll.
Eyewitnesses from Kano, Katsina, Jigawa, and other states told Amnesty that the protests began peacefully but escalated into chaos when police opened fire with live ammunition and tear gas. In Kano, 12 people were killed, while Jigawa and Niger states reported three fatalities each. Kaduna and Maiduguri also recorded multiple deaths.
In addition to the killings, over 1,200 protesters, including minors, were detained, and more than 146 were charged with treasonable offenses. Some detainees reported being subjected to torture. One protester, Khalid Aminu, described being beaten with sticks and iron cables while in the custody of the Department of State Services (DSS). Another detainee, Michael Adaramoye, was held for two months for participating in a protest in Abuja.
Despite mounting evidence, including eyewitness accounts, medical records, and video footage, Nigerian authorities have denied involvement in the violence, attributing the deaths to “unknown gunmen” or dismissing reports as “fake news.” Amnesty International has called on President Bola Tinubu to establish an independent and impartial investigation into the violations and to hold those responsible accountable.
The protests, triggered by widespread corruption and economic hardship, have reignited concerns about the Nigerian government’s disregard for human rights. Amnesty International stressed that law enforcement’s use of firearms against peaceful protesters violates international standards, urging authorities to end impunity and ensure justice for the victims.
- Telecom2 days ago
Google, Meta Criticize Australia’s Rush to Pass Social Media Ban for Under-16s
- News2 days ago
TCN Reveals N8.8 Billion Expenditure on Restoring Destroyed Transmission Towers
- E-Business3 days ago
NITDA Alerts Nigerians on Cybersecurity Risks Linked to Spotify
- E-Financial20 hours ago
MoneyMaster Promotes Financial Inclusion, Offers more Bonus to Customers
- Broadcasting20 hours ago
TETFund Suspends Foreign Scholarships Due to Rising Costs and Abscondment
- Telecom3 days ago
FG Plans Four New Satellites as Part of Tinubu’s Renewed Hope Agenda
- Telecom3 days ago
MTN Nigeria Shops for N50Bn Commercial Paper to Boost Working Capital
- E-Financial2 days ago
PenCom, PenOp to Integrate Uncovered Workers into Micro Pension Plan